DUBLIN–(BUSINESS WIRE)–The “Worldwide Customer Relationship Management (CRM) Industry” report has been added to ResearchAndMarkets.com’s offering.
The global customer relationship management (CRM) market reached a value of US$ 51.4 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 103.1 Billion by 2027 exhibiting a CAGR of 11.80% during 2022-2027.
- Adobe Inc.
- Cisco Systems Inc.
- Insightly Inc.
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Pegasystems Inc.
- Ramco Systems Limited
- Sage Group plc
- Salesforce.com Inc.
- SAP SE
- SugarCRM Inc.
- Zoho Corporation Private Limited.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Customer relationship management, or CRM, refers to various solutions and software employed by organizations to manage the external interactions and relationships with customers. It stores the customer data, identify sales opportunities, maintain a record of service issues or complaints, and manage marketing campaigns. It also assists businesses in streamlining sales, accounting, and management by providing real-time access to a centralized database, thus eliminating the need for unnecessary paperwork and speeding up communication. In recent years, CRM solutions have gained immense traction across numerous industries, including banking, financial services and insurance (BFSI), telecommunications, retail, healthcare, government, and education.
CRM solutions help enhance customer service, build stronger brand-customer relationships, and improve customer retention and acquisition. As a result, the escalating demand for automated customer engagement for better customer experience represents the primary factor driving the market growth. Besides this, the growing usage of digital channels like social media platforms by individuals to interact with brands is augmenting the demand for CRM solutions.
Additionally, enterprises are employing efficient tools to handle customer data and utilize actionable insights to make informed business decisions. Along with this, the shifting preferences from push marketing to pull marketing are propelling the market growth.
Furthermore, the widespread adoption of work-from-home (WFH) policies due to the recent coronavirus disease (COVID-19) outbreak is encouraging organizations to adopt CRM solutions to interact with customers effectively in a remote-working environment. Moreover, the increasing integration of CRM software with advanced technologies, such as the Internet of Things (IoT), artificial intelligence (AI), and big data, are catalyzing the product demand. Other factors, including the growing popularity of cloud solutions, rapid digitization, and technological advancements in business intelligence, are also creating a positive market outlook.
Key Questions Answered in This Report:
- How has the global customer relationship management (CRM) market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global customer relationship management (CRM) market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the industry vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global customer relationship management (CRM) market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Customer Relationship Management (CRM) Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
7 Market Breakup by Deployment Mode
8 Market Breakup by Organization Size
9 Market Breakup by Application
10 Market Breakup by Industry Vertical
11 Market Breakup by Region
12 SWOT Analysis
13 Value Chain Analysis
14 Porters Five Forces Analysis
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/wyhb2x.
Laura Wood, Senior Press Manager
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