Are you looking to add Customer Data Platforms (CDP) to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Customer Data Platforms (CDP) statistics of 2024.
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How much of an impact will Customer Data Platforms (CDP) have on your day-to-day? or the day-to-day of your business? Should you invest in Customer Data Platforms (CDP)? We will answer all your Customer Data Platforms (CDP) related questions here.
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On this page, you’ll learn about the following:
Best Customer Data Platforms (CDP) Statistics
â° Use “CTRL+F” to quickly find statistics. There are total 127 Customer Data Platforms (CDP) Statistics on this page đCustomer Data Platforms (CDP) Benefits Statistics
- the benefits are largely among organizations with 20,000 or more employees (84%). [0]
- The top benefits of the CDP are a unified customer view (88%) and analytics (54%). [0]
- Look at all the benefits of what happens when brands focus on CX and personalization There is an 80% increase in revenue for businesses that focus on improving customer experience. [1]
Customer Data Platforms (CDP) Usage Statistics
- Less than 50% of marketers have integrated data such as product usage, third party, social media, cookie, app, and offline data. [0]
Customer Data Platforms (CDP) Market Statistics
- The Global Customer Data Platform Market size is expected to reach $20.5 billion by 2027, rising at a market growth of 34% CAGR during the forecast period. [0]
- The worldwide customer data platform software market will grow at 19.5% CAGR from $1.3 billion in 2020 to $3.2 billion in 2025. [0]
- The market is expected to expand at a CAGR of 27.2% from 2021 to 2028. [0]
- 62% say marketing and 59% say sales departments are heavy users of customer data, but more than 40% are now using it for contact centers, supply chain/inventory management and product teams. [0]
- 63% marketers use a CDP to map out customer journeys and personalize digital campaigns. [0]
- Less than 50% of marketers have integrated data such as product usage, third party, social media, cookie, app, and offline data. [0]
- CDP Use Cases What Users Want, December 2021) 87% of marketers expect to increase tech spending in 2024, with 40% planning significant increases. [0]
- Between 50% and 60% of marketers said they increased spending in 8 of 9 critical technologies last year. [0]
- 51% use CDP for customer privacy 66% said the CDP plays a major role building GDPR/CCPA compliant marketing lists. [0]
- 54% of businesses cite data quality and completeness as their largest marketing data management challenge. [1]
- 57% of marketers are getting diminished results as a result of misinterpreting data. [1]
- 33% of elite marketers say having the right technologies for data collection and analysis is the most useful in understanding customers. [1]
- In addition, 53% say the transparency provided through these platforms enable their teams to react more quickly to changes in markets or customer preferences. [2]
- The CDP may also help marketers get closer to achieving a 360 degree view of their customers, as cited by 54% of marketing executives in the Forbes Insights survey. [2]
- 52% of marketing leaders responsible for data and analytics cite data management, data integration and formatting as some of their most time. [3]
- 46% of marketers only have data from a few of their channels connected, while over a quarter (27%). [3]
- One third (31%). [3]
- Throughout 2020, marketing budgets came under significant pressure, facing cuts of anywhere from 10. [4]
- A third of mid market companies spend at least 5% of their total revenues on technology, according to Deloitte. [5]
- More than 80 percent of marketers use bestof breed technology instead of a single vendor marketing cloud, according to a recent survey from Campaign Monitor. [6]
- According to the CDP Institute , the CDP market grew 71% and saw significant shifts in the market included expansion in Europe, EMEA, and APAC. [7]
Customer Data Platforms (CDP) Software Statistics
- The worldwide customer data platform software market will grow at 19.5% CAGR from $1.3 billion in 2020 to $3.2 billion in 2025. [0]
- In June 2021, there were 151 customer data platform software vendors worldwide, up 15 percent compared to the value reported in December 2020. [8]
Customer Data Platforms (CDP) Adoption Statistics
- 91% of respondents cited digital transformation as a primary driver of CDP adoption. [0]
- With the increased adoption of digital channels, 73% of companies report that a CDP will be critical to their customer experience efforts. [4]
Customer Data Platforms (CDP) Latest Statistics
- The top 25% of firms grew employment by 14% over the six. [0]
- The rest of the industry grew by 4%. [0]
- The top groupâs share of employment reached a new high of 64%. [0]
- The top groupâs funding grew by 33%, to reach 75% of the industry total. [0]
- Funding for the top 25% averages $79 million. [0]
- In 2017 10% of these companies were deploying a CDP, but in 2021, 24% were deploying one. [0]
- The traditional core of the industry, companies founded from 2008 to 2012, has fallen from 44% in 2016 to 26% in 2021, but still accounts for 41% of employment and 61% of funding. [0]
- These firms had an estimated 1,689 CDP employees and âŹ491 million in funding. [0]
- EMEA accounts for 39% of companies, 27% of employees and 28% of funding in the global CDP industry. [0]
- Campaign vendors account for more than 40% of the EMEA industry. [0]
- The APAC industry is dominated by delivery CDP vendors, who account for nearly half (48%). [0]
- Market by Region â Americas 58.3%, EMEA 23.5%, and APJ 18.2%. [0]
- U.S. firms now account for just 45% of all companies, but 58% of employment and 64% of funding. [0]
- The Americas still has the highest deployment rate (26%). [0]
- The United States is home to 64 CDP vendors with 6,548 employees and $2.2 billion in funding, accounting for 42% of industry vendors, 57% of employment, and 64% of funding. [0]
- Only two of the acquired firms were in the top 25% of the industry by employment and none had more than $51 million in funding. [0]
- Firms listed in previous reports grew by 6% in employment and 10% in funding during the report period â. [0]
- 81% percent of people are in favor of companies using AI to personalize recommendations. [0]
- 60% of respondents said their CX will be managed via robotics and AI automation within 12 months. [0]
- 96% of enterprises have adopted a plan to adopt a âdigital firstâ business strategy. [0]
- 63% say they are using customer data to influence product offerings while 43% say they are running a loyalty program that ties incentives to more than purchasing. [0]
- Martech is involved in 82% of use cases. [0]
- 61% say that a CDP will be critical to their personalization efforts. [0]
- 49% say they will use a customer data platform for AI and machine learning use cases. [0]
- Primary use case for CDP include â acquisition (57%), customer value (65%), and retention (61%). [0]
- A global cosmetics brand using a CDP and AI based segmentation has achieved a 7x ROI in five months following implementation, 18% conversion rate increase using personalized banners, and almost 40% increase in return on ad spending. [0]
- 56% report positive financial impact as a result of utilizing customer data, but. [0]
- 43% said CDP brought significant improvements to ROI/ROAS. [0]
- 56.8%. [0]
- Just 7% of organizations measure CDP ROI based on revenue. [0]
- 53% define ROI by cost savings as a result of implementing a CDP, while 58% measure ROI by sales and revenue growth. [0]
- 74% of C suite executives believe that good quality data gives them a competitive advantage over other businesses. [0]
- Centralized customer data offers greater efficiencies (64%) and more business growth (57%). [0]
- 49% said the top benefit was the ability to unify customer data from multiple sources and platforms. [0]
- Organizational readiness was the most common problem listed by members with a deployed CDP, cited by 25%. [0]
- 34% say their data is siloed across tools/business units, while 34% say it can be difficult to collect valuable data from customers. [0]
- 33% are not satisfied with their ability to use data to engage their customers. [0]
- Almost twothirds (62%). [0]
- High value CDP owners said loading data from all sources (75%) and identity matching (57%). [0]
- Building segments is the most widely required capability, across 72% of use cases. [0]
- As a result, the most common task is data assembly (66%), followed by analytics (42%) and predictive models (35%). [0]
- 47% expect to increase their CDP budget by 25+% in the next 5 years. [0]
- 62% say they will spend over $100,000 on their CDP. [0]
- 43% of brands have a fully deployed customer data platform and 31% are working to implement one. [0]
- CDP deployment type is primarily Cloud at 96%, with 4% being On. [0]
- Nearly one third of consumer businesses (32%). [0]
- 73% of companies report that a CDP will be critical to their customer experience efforts. [0]
- Campaign and delivery CDPs account for 67% of companies, while data CDPs now account for just 13% of companies. [0]
- 81% of people have privacy concerns over how AI is used for recommendations, customer service and support. [0]
- 92% consider a CDP important to their privacy and compliance efforts. [0]
- While the vast majority of firms (85%). [0]
- 62% say data collection and privacy is more important than predictive insights and customer acquisition. [0]
- 58% of respondents with a deployed CDP said the CDP delivered significant value. [0]
- In 2017, deployments were at 19% with a decline in 2019 at 17%. [1]
- In 2020, this number jumped to a 29% deployment. [1]
- 62% of US retailers have over 50 systems housing customer data. [1]
- On average 20% of database records contain contact data with data quality issues. [1]
- Employee turnover causes approximately 3% of business records to become outdated every month. [1]
- On average, 65% of contact data generated from online web forms is invalid. [1]
- The amount of data created by consumers doubles every two years, but 99% of new data is never used, analyzed or transformed. [1]
- In terms of how business leaders interact with data, 70% of time is spent finding data with only 30% analyzing it. [1]
- Approximately 47% of new data collected by businesses has one or more critical errors. [1]
- Only 3% of business leaders think their department has an acceptable level of data quality. [1]
- Companies with a Data Governance program in place increase data analysis time by 2% and register a 31% improvement in data quality confidence. [1]
- Businesses with a designated Data Governance or Data Management leader show 42% greater confidence in data quality than those without. [1]
- 73% of customers agree that customer experience helps to drive their buying decision. [1]
- 86% of customers say that they are ready to pay more if it means getting a better customer experience. [1]
- 49% of customers agree that they have made impulse purchases after an excellent customized personal experience with a brand. [1]
- Businesses that prioritize customer experience have a revenue increase of 4 8% higher than their competitor. [1]
- 89% of consumers have moved to a competitor following a poor customer experience with a brand. [1]
- In fact, high performers are 9.5 more likely than underperformers to have accessible data that is unified and an integral driver of CX inititaives. [1]
- A majority of executives, 52%, report that while they are leveraging a variety of tools and technologies in functions or lines of business, there is little coordination and there’s a lack of the right tools. [2]
- Only 19% report having a robust set of analytics tools and technology services supporting customerdata driven decisions and campaigns. [2]
- Some 78% of organizations either have, or are developing, a customer data platform. [2]
- 93% of executives expect that using more customer data in their campaigns will âcreate a noticeable shift in their ability to meet disruptive and competitive challengesâ [Forbes]. [3]
- A total of 78% of the companies survey by Forbes either have, or are developing, a customer data platform. [3]
- 44% of organizations surveyed by Forbes Insights report that a customer data platform is helping drive customer loyalty [Forbes]. [3]
- 62% of companies that leverage a CDP use it to enable individualized personalization in email, 55% for advertising and 53% for real time targeting [The Relevancy Group]. [3]
- The same source estimated the value of the CDP industry at 1.6 billion U.S. dollars in 2021. [8]
- Available to download in PNG, PDF, XLS format 33% off until Jun 30th. [8]
- According to the CDP Institute, there has been a sharp increase in the number of companies that have in 2020 compared to recent years. [4]
- At the time of this survey, 29% of respondents had already deployed a CDP in 2020, more than 1.5 times the percentage of respondents as the previous year. [4]
- In our survey of 4,684 customer data decision makers, 47% of respondents said they will by more than 25% in the next five years. [4]
- Over 6% of Segmentâs customer base pulled in SendGrid data to better understand the complete customer experience. [4]
- Considering the economic uncertainty caused by the COVID 19 pandemic, analysts predicted a decrease in advertising demandworse than the 2008 recession reported by Facebook, Google and the other major ad platforms throughout the year. [4]
- Itâs worth mentioning the growth of HubSpot in this category too, which grew by over 5% last year and has been growing steadily yearover. [4]
- 90% of B2C brands will be set to have an app by the end of 2021If. [4]
- 90% of B2C brands will be set to have an app by the end of 2021 If youâre familiar with the space, you might spot a notable omission â Twilio. [4]
- In a study on the future of the customer experience, Futurum Research found that 66% of companies are accelerating online tracking for behavior and habits. [9]
- And 73% agree that the new engagement models will require real time data collection and analysis. [9]
- According to David, âAfter 2016, awareness of the term and the general concept grew quickly, although there was considerable confusion about the exact definition.â. [10]
- With accurate deduping, reduce customer database size by 25% 50%; dramatically increase accuracy of personalized campaigns and attribution analysis. [11]
- make up the Global Datasphere, a number expected to grow through 2024 at a compound annual growth rate of 26%. [6]
- Prospecting & sales B2C companies have been quicker than B2B firms to deploy CDPs, according to Understanding CDP Users CDP Institute Member Survey 2019. [6]
- By targeting customer behavior rather than devices, Subaru achieved a 350 percent increase in advertising click. [6]
- Increased conversion rates from 18 percent to 31 percent Leveraged ML to help dealers focus on the shoppers most likely to buy, boosting closing rates by 14 percent. [6]
- âUsing machine learning, we’ve improved our forecast reliability by as much as 30 percent for âlikely’ buyers. [6]
- As illustrated in the infographic below, the Total Economic Impact⢠of Treasure Data CDP showed a 802 percent ROI. [6]
I know you want to use Customer Data Platforms (CDP), thus we made this list of best Customer Data Platforms (CDP). We also wrote about how to learn Customer Data Platforms (CDP) and how to install Customer Data Platforms (CDP). Recently we wrote how to uninstall Customer Data Platforms (CDP) for newbie users. Donât forgot to check latest Customer Data Platforms (CDP)statistics of 2024.
Reference
- cdp – https://cdp.com/articles/basics/cdp-industry-statistics/.
- v12data – https://v12data.com/blog/customer-data-platforms-the-stats-you-cant-ignore/.
- forbes – https://www.forbes.com/sites/insights-treasuredata/2018/06/20/the-rise-of-the-customer-data-platform-and-what-it-means-to-businesses/.
- business2community – https://www.business2community.com/customer-experience/customer-data-platform-cdp-stats-you-cant-ignore-02171615.
- segment – https://segment.com/blog/cdp-report-2021/.
- emarketer – https://www.emarketer.com/topics/category/customer%20data%20platform.
- treasuredata – https://www.treasuredata.com/customer-data-platform-guide/.
- martechvibe – https://martechvibe.com/analytics/infograph-stats-about-cdp-marketers-cant-ignore/.
- statista – https://www.statista.com/statistics/1293619/number-of-cdp-vendors-worldwide/.
- sas – https://www.sas.com/en_us/insights/articles/marketing/customer-data-platform-what-it-is-and-why-its-important.html.
- treasuredata – https://blog.treasuredata.com/blog/2021/08/04/what-is-the-cdp-institute/.
- acquia – https://www.acquia.com/products/marketing-cloud/customer-data-platform.
How Useful is Customer Data Platforms
On the surface, CDPs seem like a game-changer for businesses looking to better understand their customers and improve their overall experience. By having all customer data in one place, businesses can create more targeted and effective marketing campaigns, identify new opportunities for growth, and deliver more personalized customer service. This can lead to increased customer satisfaction, loyalty, and ultimately, revenue.
However, the usefulness of CDPs can vary depending on a business’s specific needs and resources. For example, smaller businesses with limited marketing budgets may not see the same return on investment as larger, more established companies with the resources to fully utilize a CDP. Additionally, businesses in industries with less reliance on customer data, such as manufacturing or B2B services, may not see as much value in investing in a CDP.
Another factor to consider is the complexity of implementing and managing a CDP. These platforms can be costly and time-consuming to integrate with existing systems and require ongoing maintenance and monitoring. Without the proper expertise and dedicated resources, businesses may struggle to realize the full potential of their CDP investment.
Additionally, the effectiveness of CDPs relies heavily on the quality and accuracy of the data being inputted. If the data is outdated, incomplete, or inaccurate, businesses may end up making decisions based on faulty information, leading to subpar results and potentially damaging customer relationships.
Despite these challenges, CDPs can still be a valuable tool for businesses looking to gain a competitive edge in today’s data-driven economy. With the right strategy and resources in place, businesses can leverage a CDP to gain valuable insights into customer behavior, preferences, and trends, allowing them to make more informed decisions and drive better business outcomes.
In conclusion, while CDPs have the potential to revolutionize how businesses engage with their customers, their usefulness ultimately depends on a variety of factors, including business size, industry, resources, and data quality. Businesses considering investing in a CDP should carefully weigh these factors and develop a clear plan to ensure they can maximize the benefits of these powerful platforms.
In Conclusion
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