Over the forecasted period (2021-2028), the customer relationship management market is anticipated to develop at a CAGR of 11.1% to reach USD 97 billion.

The factors driving growth of the Customer Relationship Management Market includes growing influence of social media platforms such as Facebook, Instagram, and Snapchat, rising focus of companies on enhancing customer’s experience, Government policies promoting digitalization and improvements in the living standards. Customer relationship management software solutions enhances transparency, facilitates better communication of ideas and information, help companies to increase their brand presence, collects data from multiple channels, and enables smooth and efficient interaction with customers, are some of the features pushing the Customer Relationship Management (CRM) Market size. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Big Data Analytics, expansion of e-commerce industry, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Customer Relationship Management (CRM) Market Growth. In addition, the increasing investments by major companies on research and development, strategic mergers and collaborations between key industry players and growing population growth rates, are further contributing towards the market growth.

However, growth of the Customer Relationship Management Market is hindered due to growing concerns related to confidential data.

The prominent players operating in the Customer Relationship Management Market includes are SAS Institute Inc., Pipedrive, SAP SE, International Business Machines Corporation, Oracle Corporation, Adobe Inc., SugarCRM Inc., Salesforce.com, Inc., Microsoft Corporation, and Zoho Corporation Pvt. Ltd. among others.

Based on Deployment Mode, the Cloud segment is predicted to grow at a significant CAGR during the forecast period

Cloud based solutions minimizes the cost of infrastructure, enhances flexibility, real-time access, increased scalability and are cost-effective, are some of the features pushing the segment’s growth.

Based on Application, the Marketing & Sales Automation segment is projected to expand at a robust CAGR over the forecast period

Customer relationship management solutions are increasingly used for marketing and sales processes because it helps in retaining customers, capturing new customers and automates marketing processes management, and multifunctional campaigns, which are propelling segment’s growth.

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

As per the Customer Relationship Management Market Report, presence of the leading players such as Salesforce.com, Inc., Microsoft Corporation, and Adobe Inc., strong internet penetration rates, rapid urbanization, and high per capita incomes, are some of the important factors augmenting the market growth in North America.

Key Development

• In 2021, Amazon Web Services, Inc. (AWS), entered into a strategic partnership with Salesforce.com, Inc. this partnership is expected to help customers to use the full set of Salesforce and AWS capabilities together to quickly build and deploy powerful new business applications accelerating digital transformation.

Market Segmentation

Segmentation by Deployment Mode

• On-Premise


• Cloud


• Hybrid

Segmentation by Organization Size

• Large scale


• Small and medium scale

Segmentation by Application

• Marketing & Sales Automation


• Customer Management


• Lead Generation and Customer Retention


• Customer Support and Contact Center


• Others

Segmentation by Industry Vertical

• BFSI


• Manufacturing


• IT & Telecommunication


• Retail and Consumer Goods


• Healthcare


• Transportation & Logistics


• Others

Segmentation by Region

• Asia Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Rest of APAC
  
  
  
  


• North America
  
  
  
  • United States of America
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • United Kingdom
  
  
  • Germany
  
  
  • France
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• RoW
  
  
  
  • Brazil
  
  
  • South Africa
  
  
  • Saudi Arabia
  
  
  • UAE
  
  
  
  

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