Customer Relationship Management (CRM) Market Growth, Trends, Size, Future Plans, Revenue and Forecast 2029

The Customer Relationship Management (CRM) market exhibited a remarkable value of USD 57.66 billion. The market is poised to experience substantial growth at a CAGR of 11.2% from 2023 to 2030, reaching an estimated value of nearly USD 121.22 billion.

Market Overview

As of the most recent Customer Relationship Management (CRM) Market update, the global economic landscape reflects a dynamic interplay of various factors. Major financial markets continue to navigate the aftermath of the unprecedented events that unfolded in recent years, such as the global pandemic and geopolitical shifts. Equities have demonstrated resilience amid ongoing uncertainties, propelled by technological advancements, innovation, and accommodative monetary policies. However, challenges persist, including inflationary pressures, supply chain disruptions, and regulatory changes in various sectors. Investors are closely monitoring central bank decisions, fiscal policies, and emerging trends to assess potential opportunities and risks. The market's response to evolving conditions underscores the importance of adaptability and strategic planning for both businesses and investors in this complex and ever-changing environment.

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Report Scope:

The comprehensive report on the global Customer Relationship Management Market provides stakeholders with a detailed analysis of the industry's past and current status, coupled with forecasted market size and trends. The report delves into the intricacies of CRM dynamics, covering market leaders, followers, and new entrants.

Research Methodology:

The research methodology employed in this report ensures a rigorous and reliable analysis. Stakeholders can request a free sample report to gain insights into the methodology applied.

Drivers:

The market's growth is fueled by an increased focus on customer involvement, emerging SMEs, social platforms, and real-time idea exchange. CRM systems, adopted by 91% of firms with over ten employees, are instrumental in enhancing customer experience, revenue, and marketing efforts.

Restraints:

Key stumbling blocks include high CRM software costs, a lack of leadership, growing privacy and security concerns, the absence of the human element, and the potential for data loss.

Segmentation:

Deployment Mode: The CRM market is segmented into On-Premises, Cloud, and Hybrid. The Cloud segment dominated with a market share of 63.6% in 2023, driven by the benefits of the SAAS deployment model.

Verticals: Segmenting into BFSI, Retail, Healthcare, IT & Telecom, Discrete Manufacturing, Government & Education, and Others, the BFSI segment held the largest market share in 2023.

by Component

Software
Services

by Deployment Mode

On-Premise
Cloud
Hybrid

by Application

Customer Service
Customer Experience Management
CRM Analytics
Marketing Automation
Salesforce Automation
Others

by Industry

Vertical BFSI
Retail
Healthcare
IT & Telecom
Discrete Manufacturing
Government & Education
Others

Regional Insights:

In 2023, North America held the largest market share, establishing itself as a hub for various industrial verticals. Asia Pacific is expected to witness the highest CAGR during the forecast period, driven by extensive investments, digital transformation, and continual modernization in emerging nations.

Market Key Players

1. Salesforce.com
2. SAP AG
3. Oracle Corporation
4. Microsoft Corporation
5. Adobe Systems Inc
6. Amdocs
7. Convergys Corporation
8. Huawei Technologies Co. Ltd
9. Infor Global Solutions, Inc
10.SAS Institute Inc
11.SYNNEX Corporation
12.The Sage Group Plc
13.Verint Systems Inc
14.IBM Corporation
15.SugarCRM
16.NICE Ltd
17.IMS Health
18.NetSuite Inc
19.ZOHO Corporation
20.Infusionsoft
21.Copper CRM, Inc.
22.Insightly Inc.
23.Creatio

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Key questions answered in the Customer Relationship Management (CRM) Market report include:

What is Customer Relationship Management (CRM) Market?
What factors drive Customer Relationship Management (CRM) Market growth?
What are the main challenges for Customer Relationship Management (CRM) Market growth?
What was the Customer Relationship Management (CRM) Market size in 2023?
Which trends are expected to contribute to Customer Relationship Management (CRM) Market growth?
What recent industry trends can generate additional revenue streams for the Customer Relationship Management (CRM) Market?
What growth strategies are players considering to increase their foothold in the Customer Relationship Management (CRM) Market?
Who held the largest market share in the Customer Relationship Management (CRM) Market?

Key Offerings:

Past Market Size and Competitive Landscape (2021 to 2023)
Past Pricing and price curve by region (2021 to 2023)
Market Size, Share, Size & Forecast by different segment | 2023−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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