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Market HighlightsThe CRM or customer relationship management software refers to the technologies that a company can use to maintain business relationships by analyzing the customer interactions throughout the consumer lifecycle and compiling the information of customers across different channels. In a way, CRM software helps the companies to stay connected with their customers and thereby improve profitability, streamlining the work processes.
The proliferation of Cloud deployment along with the increasing deployment of cloud-based CRM modules exponentially fosters the market growth. Growing number of business and advantages that CRM software provides are some of the key factors propelling the market growth. Besides, increasing use of web-based interfaces and social computing are escalating the market growth to ascending levels, driving the growth of the global CRM software market.
Acknowledging the exponential accruals the market witnesses currently, Market Research Future (MRFR) has recently published a study report giving out the complete Market prognosis up till 2023. In its analysis, MRFR asserts that the global CRM Software market is expected to grow up to 35 Bn. by 2023 registering a CAGR of 6% during 2017-2023.
Increasing deployments of CRM software in some of the burgeoning sectors such as banking and financial services are boosting the market growth. Simultaneously, the growing demand for hosted services from small and medium business units is expected to contribute to the market growth. Increasing popularity of social CRM and mobile CRM is another factor predominantly driving the growth of the CRM software market.
Additional factors contributing to the market growth include the increase in automation of various processes used across the industry verticals, its increasing popularity and consumer awareness about the benefits of CRM software
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Major Key players
SAP AG (Germany)
com (US)
Oracle Corporation (US)
Adobe Systems Inc. (US)
Microsoft Corporation (US)
Amdocs (US)
Huawei Technologies Co. Ltd (China)
Convergys Corporation (US)
Infor Global Solutions, Inc. (US)
SYNNEX Corporation (US)
SAS Institute Inc. (US)
The Sage Group Plc (UK)
IBM Corporation (US)
Segmentation:
For the enhanced understanding; the market is segmented into five key dynamics:-
By Organization Size: SMEs, and Large Enterprises.
By Deployments: Cloud, and On-Premise.
By Applications: Sales, Manufacturing, Marketing, Customer Service, Social Networking, Supply Chain, and Distribution channels among others.
By Verticals: Healthcare, BFSI, Manufacturing, IT & Telecommunication, Media & Entertainment, Energy & Utilities and others.
By Regions: North America, Europe, APAC and Rest-of-the-World (RoW).
The cloud-based deployment segment is expected to hold the largest market share growing at the highest rate over the forecast.
Regional Analysis:
North America is the largest CRM software market, globally. The region is expected to retain its hegemony throughout the forecast period, marking the largest chunk of the market share. The substantial amount of technological advancements and increased adoption of cloud-based technologies across various industry verticals is the predominant factor accounting for the market growth.
The U.S. and Canada are the dominating markets for CRM in the region owing to the proliferation of smart and connected devices. Moreover, the presence of a well-established infrastructure contributes hugely to the market growth, allowing faster implementation of advanced technologies.
On the other hand, Asia Pacific CRM market is increasing rapidly, becoming one of the most lucrative markets globally. This is because of the development in industrialization and the growing number of business in the region. In developing countries like India and China, catalyze industry growth is expected over the forecast period, which in turn, propel the market growth in the region.
In Europe also, substantial growth is expected in the CRM market because of the increase in the number of corporate offices in the region. The market is increasing due to the rising technological enhancements, and the growing adoption of cloud-based CRM.
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List of Tables
Table 1 Global CRM Software Market: By Region, 2017-2023
Table 2 North America CRM Software Market: By Country, 2017-2023
Table 3 Europe CRM Software Market: By Country, 2017-2023
Table 4 Asia-Pacific CRM Software Market: By Country, 2017-2023
Table 5 Middle East & Africa CRM Software Market: By Country, 2017-2023
Table 6 Latin America CRM Software Market: By Country, 2017-2023
Table 7 Global CRM Software By Organization Size Market: By Regions, 2017-2023
Table 8 North America CRM Software By Organization Size Market: By Country, 2017-2023
Table 9 Europe CRM Software By Organization Size Market: By Country, 2017-2023
Table10 Asia-Pacific CRM Software By Organization Size Market: By Country, 2017-2023
Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com/reports/crm-software-market-4943
Release ID: 88922105
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