The global Customer Relationship Management (CRM) Market size was valued at US$ 39.2 Billion and is expected to grow at a CAGR of 13.2% from 2021 to 2026.
Growing demand for Software as a Service (SaaS) in the implementation of customer relationship management (CRM) suites and solutions is driving the industry. Customer service sophistication, automated interaction, enhanced customer experience, and the widening reach of digital operations are just a few of the factors driving demand for CRM solutions across industries. Furthermore, the market is expected to expand due to the advancement of cloud computing technology and the availability of various service models such as SaaS, Platform as a Service (PaaS), and Infrastructure as a Service (IaaS) over the forecast period.
Customer service and assistance, as well as sales and marketing, have begun to cooperate with one another in order to provide a better customer experience while also growing profitability. According to SoftClouds' CRM Cloud Survey Study, 82 percent of businesses use customer relationship management systems for sales reporting and sales process automation. Senior executives in a variety of companies are looking for consumer data, actionable insights from unstructured datasets, and effective tools to manage them.
The Customer Relationship Management (CRM) Market is segmented by Product Type (On-premise, Cloud), by Application (BFSI, Retail, Healthcare, IT & Telecom, Manufacturing, Government & Education, Others). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest
- Salesforce and Amazon Web Services, Inc. (AWS) extended their global strategic relationship in November 2019. Salesforce planned to integrate its cloud offering Service Cloud Voice with Amazon Connect through this alliance, which will help service organizations minimize call response times and smooth operations while delivering superior customer service.
- CRM suites have been widely embraced by large companies because they allow them to monitor their ROI and improve the overall efficiency of their sales cycles.
- Owing to the presence of numerous solution vendors, both large and small, in the region, North America, especially the United States, held the largest share of the market.
Key Participants like Salesforce, Oracle, SAP, Adobe Systems, Genesys Telecommunications Laboratories, Microsoft, Nice Systems, Verint Systems Inc., Pegasystems, IQVIA.
For this report, Introspective Market Research have segmented the Customer Relationship Management (CRM) Market on the basis of Region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2019-2026)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM