2024 State of the CDP (Tealium)

CDP Growth Remains Strong, but Challenges Persist

The customer data platform (CDP) market is booming. The market is growing rapidly, and is expected to reach $15.9 billion by 2025. This growth is being driven by the increasing importance of customer data, and the need for businesses to have a better understanding of their customers.

However, despite their growing popularity, CDPs still face some challenges. One challenge is the lack of data quality . Another challenge is the difficulty in integrating CDPs with other systems. Additionally, many businesses are still struggling to understand the value of CDPs and how to use them effectively.

CDP Trends to Watch in 2024

Here are some of the key CDP trends to watch in 2024:

• Increased adoption of AI and machine learning. AI and machine learning can help CDPs to improve data quality, automate tasks, and provide more personalized customer experiences.
• Greater focus on data governance. Data governance is critical for ensuring that CDP data is accurate, complete, and compliant with regulations.
• More partnerships between CDPs and other vendors. Partnerships between CDPs and other vendors, such as CRM and marketing automation providers, can help businesses to get more value from their CDP investments.

How to Choose the Right CDP for Your Business

If you're considering implementing a CDP, it's important to do your research and choose the right platform for your business. Here are some factors to consider:

• Your business goals. What do you want to achieve with a CDP?
• Your data needs. What types of data do you need to collect and manage?
• Your budget. How much can you afford to spend on a CDP?
• Your technical resources. Do you have the in-house expertise to implement and manage a CDP?

By taking the time to consider these factors, you can choose the right CDP for your business and start realizing the benefits of this powerful technology.