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The Worldwide Customer Relationship Management Industry is Expected to Reach $157.6 Billion by 2030
Friday, March 25, 2022
DUBLIN, March 23, 2022 /PRNewswire/ -- The "Customer Relationship Management Market Size, Share & Trends Analysis Report by Solution, by Deployment (On-premise, Cloud), by Enterprise Size, by End Use, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
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The global customer relationship management market size is expected to reach USD 157.6 billion by 2030. The market is expected to expand at a CAGR of 13.3% from 2022 to 2030. The continuous demand for innovative solutions to analyze customer information, collate critical customer data, and transform it into a better customer experience strategy are driving factors for CRM solutions across all sizes of businesses.
This further led to the integration of customer relationship management solutions with advanced technologies such as big data analytics, machine learning, and AI-powered analytics are expected to boost product innovation and development across CRM solutions for a better customer experience and high operational efficiency.
The adoption of CRM solutions has shown tremendous growth in recent years with several benefits, including reduced marketing cost, improved operational efficiency, and efficient data-based management of an organization's entire sales process. With the rapid growth of mobile and cloud solutions, organizations are increasingly insisting on efficient access to real-time customer data for improved customer engagement to drive sales growth and maintain customers for a long period. Furthermore, the increasing penetration of CRM solutions through smart mobile devices and internet services is one major trend in the sales and marketing domain globally.
The continuous demand for the optimized implementation of advanced technologies such as predictive and prescriptive analytics to maximize current operational processes is a key driving factor for investments and innovation in CRM solutions. For instance, in September 2021, Salesforce.com, Inc. announced the collaboration with Slack, a business communication platform, to empower the sales team to collaborate in real-time to close more deals from anywhere. Moreover, this integration enables marketing teams and agency partners to collaborate in a shared digital workspace.
Customer Relationship Management Market Report Highlights
-- In terms of solution, the CRM analytics segment is anticipated to expand
at a significant CAGR throughout the forecast period. The artificial
intelligence and its applications, machine learning, and the growing use
of integration of business intelligence and analytics in CRM software
are expected to drive the growth of the segment over the forecast period
-- In terms of deployment, the cloud segment is expected to account for a
significant CAGR of 15.5% during the forecast period. The market is
projected to retain its dominance over the forecast period as it offers
various advantages, such as cost efficiency, accessibility, and
virtually no equipment costs. Moreover, the increasing use of mobile
applications is likely to further accelerate the growth of the market
-- The Small and Medium Enterprises (SMEs) segment is anticipated to
register a CAGR of 14.9% over the forecast period. The continuous
adoption of advanced technologies and minimizing business challenges is
driving the implementation of CRM solutions in SMEs globally.
Furthermore, increasing in business productivity, innovation in
marketing strategies, and customer retention are also driving market's
growth
-- In terms of end use, the IT and telecom segment is likely to register
the highest CAGR of 15.2% from 2022 to 2030. The key factors that boost
the adoption of CRM solution in the IT and telecom segment includes
competence needs, high capital expenditure, improved customer service
processes, and better sales projection
-- In Asia Pacific, the market is expected to register at the highest CAGR
over the forecast period due to emerging economies such as China and
India that hold a large customer base across several industries and
verticals. Furthermore, the increasing awareness about innovative
marketing strategies and sales tools to improve customer engagement,
growing penetration of the internet, rise in the number of social media
platforms, and smartphone usage are expected to promote regional growth
over the forecast period
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Customer Relationship Management Industry Outlook
3.1 Market Segmentation & Scope
3.2 Market Size and Growth Prospects
3.3 Customer Relationship Management Market - Value Chain Analysis
3.4 Customer Relationship Management Market Dynamics
3.4.1 Market driver analysis
3.4.2 Market restraint analysis
3.5 Penetration and Growth Prospect Mapping
3.6 Customer Relationship Management Market - Porter's Five Forces Analysis
3.7 Customer Relationship Management Market - PESTEL Analysis
3.8 Customer Relationship Management Market - COVID-19 Impact Analysis
Chapter 4 Customer Relationship Management Solution Outlook
4.1 Customer Relationship Management Market Share by Solution, 2020
4.2 Customer Service
4.2.1 Customer service CRM market, 2017 - 2030
4.3 Customer Experience Management
4.3.1 Customer experience management CRM market, 2017 - 2030
4.4 CRM Analytics
4.4.1 CRM analytics market, 2017 - 2030
4.5 Marketing Automation
4.5.1 Marketing automation CRM market, 2017 - 2030
4.6 Salesforce Automation
4.6.1 Salesforce automation CRM market, 2017 - 2030
4.7 Social Media Monitoring
4.7.1 Social media monitoring CRM market, 2017 - 2030
4.8 Others
4.8.1 Other CRM solution market, 2017 - 2030
Chapter 5 Customer Relationship Management Deployment Outlook
5.1 Customer Relationship Management Market Share By Deployment, 2021
5.2 On-premise
5.2.1 On-premise customer relationship management market, 2017 - 2030
5.3 Cloud
5.3.1 Cloud customer relationship management market,2017 - 2030
Chapter 6 Customer Relationship Management Enterprise Size Outlook
6.1 Customer Relationship Management Market Share, by Enterprise Size, 2021
6.2 Large Enterprises
6.2.1 Global customer relationship management market in large enterprises, 2017 - 2030
6.3 Small & Medium Enterprise
6.3.1 Global customer relationship management market in small & medium enterprise, 2017 - 2030
Chapter 7 Customer Relationship Management End-use Outlook
7.1 Customer Relationship Management Market Share by End Use, 2021
7.2 BFSI
7.2.1 Customer relationship management market in BFSI, 2017 - 2030
7.3 Retail
7.3.1 Customer relationship management marketin retail, 2017 - 2030
7.4 Healthcare
7.4.1 Customer relationship management marketin healthcare, 2017 - 2030
7.5 IT & Telecom
7.5.1 Customer relationship management market in IT & telecom, 2017 - 2030
7.6 Discrete Manufacturing
7.6.1 Customer relationship management marketin discrete manufacturing, 2017 - 2030
7.7 Government & Education
7.7.1 Customer relationship management marketin government & education, 2017 - 2030
7.8 Others
7.8.1 Customer relationship management marketin other applications, 2017 - 2030
Chapter 8 Customer Relationship Management Regional Outlook
Chapter 9 Competitive Analysis
9.1 Recent Developments and Impact Analysis, by Key Market Participants
9.2 Company/Competition Categorization
9.3 Vendor Landscape
9.3.1 Customer Experience Management Market: Key Company Market Ranking/Share Analysis, 2021
Chapter 10 Competitive Landscape
10.1 Salesforce.com, Inc.
10.1.1 Company overview
10.1.2 Financial performance
10.1.3 Product benchmarking
10.1.4 Strategic initiatives
10.2 Microsoft Corporation
10.2.1 Company overview
10.2.2 Financial performance
10.2.3 Product benchmarking
10.2.4 Strategic initiatives
10.3 SAP SE
10.3.1 Company overview
10.3.2 Financial performance
10.3.3 Product benchmarking
10.3.4 Strategic initiatives
10.4 Oracle Corporation
10.4.1 Company overview
10.4.2 Financial performance
10.4.3 Product benchmarking
10.4.4 Strategic initiatives
10.5 ADOBE INC.
10.5.1 Company overview
10.5.2 Financial performance
10.5.3 Product benchmarking
10.5.4 Strategic initiatives
10.6 SugarCRM Inc.
10.6.1 Company overview
10.6.2 Financial performance
10.6.3 Product benchmarking
10.6.4 Strategic initiatives
10.7 Zoho Corporation Pvt. Ltd
10.7.1 Company overview
10.7.2 Financial performance
10.7.3 Product benchmarking
10.7.4 Strategic initiatives
10.8 Copper CRM, Inc.
10.8.1 Company overview
10.8.2 Financial performance
10.8.3 Product benchmarking
10.8.4 Strategic initiatives
10.9 Insightly, Inc
10.9.1 Company overview
10.9.2 Financial performance
10.9.3 Product benchmarking
10.9.4 Strategic initiatives
10.10 Creatio
10.10.1 Company overview
10.10.2 Financial performance
10.10.3 Product benchmarking
10.10.4 Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/c3csro
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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