The report on the global CRM Software market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis and key player's market share analysis
— Market Highlights:
Customer relationship management (CRM) software is gaining precedence across industries as they are now adopting a more customer-centric to streamline their work process and profit more. This customer-centric approach has given rise to the need for customer relationship management (CRM) software that allows companies to analyze customer behavior pattern across channels and maintain a business relationship.
Customer relationship management (CRM) software plays a vital role in maintaining the relationships between customers and companies. With the evolution of big data and artificial intelligence in collecting data, CRM software has become an indispensable tool of organizations. The global CRM software market size is predicted to touch USD 35 billion by 2023 at a CAGR of 6% from 2017 to 2023 (forecast period), asserts Market Research Future (MRFR) in its latest report.
The mushrooming of various businesses owing to the access to the Internet and benefits of CRM software are factors expected to drive market growth over the forecast period. Integration of software in company websites to solve tough customer queries is likely to bode well for the CRM software market. Adoption of software suites to optimize processes and workflow in enterprises is projected to trigger the demand for CRM software.
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Major Key Players
• SAP AG (Germany),
• Salesforce.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),
• Infusionsoft (US),
• Verint Systems Inc. (US),
• SugarCRM (US),
IMS Health (US), NICE Ltd. (Israel), NetSuite Inc. (US), and ZOHO Corporation (India) are some of the prominent players profiled in MRFR Analysis and are at the forefront, competing in 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.
By organization size, the small and medium enterprises (SME) is predicted to dominate the market. This can be credited to easy loans provided to these companies to foster growth within the respective economies. But the penetration of automation to expedite workflows is one of the biggest drivers of this segment. Large enterprises can contribute a near-equal share to the CRM software owing to their various investments and widening client base.
By deployment, the market contains on-cloud and on-premise. The on-cloud segment is likely to gain a major share of the CRM software market owing to affordability of cloud solutions and various options of data storage. The trend of bring-your-own-devices (BYOD) and penetration of mobile phones have created niche segments such as social and mobile CRM. The segment is likely to contribute further to the market till the end of the forecast period thanks to the ever-increasing volume of virtual data.
By application, the market encompasses customer service, manufacturing, marketing, social networking, supply chain, distribution, and others. The marketing segment is likely to be the biggest application of the CRM software market till 2023. This can be attributed to the use of the software in creating an updated list of clients and maintaining the relationship with existing ones.
Verticals requiring CRM software include energy & utilities, media & entertainment, IT & telecommunication, manufacturing, healthcare, BFSI, and others. The healthcare sector is likely to bolster the market demand owing to emergence of various hospital chains and their branches in rural regions. The benefit the software provides makes it easy for patient follow-ups and attaining patient health data.
Geographically, the industrial vision market spans across North America, Asia Pacific, Europe and Rest of the World.
The North American region is considered to experience the highest market share owing to the advanced technology implemented in the industries. The Asia-Pacific region showcases a high growth rate in the market owing to the presence of major manufacturing countries such as Japan, China, South Korea, and India. On the other hand, Europe is considered as one of the prominent players in the market owing to the presence of major automotive manufacturers in this region.
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• Technology Investors
• Research/Consultancy firms
• Technology Solution Providers
• Government Bodies
• Regulatory agencies
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
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Name: abhishek Sawant
Organization: Market Research Future
Phone: +1 646 845 9312
Source URL: https://marketersmedia.com/customer-relationship-management-crm-software-market-2019-size-share-industry-growth-development-challenges-key-strategy-analysis-by-regional-trends-till-2023/470112
Release ID: 470112