Market Highlights
CRM software is being progressively used across various industries as an indispensable tool for customer engagement. As a greater number of organizations are adopting a customer-centric approach, CRM software is gaining grounds. Market Research Future (MRFR's) latest exhaustive report on the global CRM software market covers the various pertinent factors that can impact the market growth over the forecast period of 2017-2023. After thorough analysis, MRFR has projected a valuation of USD 35 Bn in the market at a CAGR of 6% over the forecast period.
The proliferation of Cloud deployment along with the increasing deployment of cloud-based CRM modules exponentially fosters the market growth. Growing number of business and advantages that CRM software provides are some of the key factors propelling the market growth. Besides, increasing use of web-based interfaces and social computing are escalating the market growth to ascending levels, driving the growth of the global CRM software market.
SMEs have impacted the market growth on a positive note. The trend of automation among SMEs to expedite workflows and increasing funding on SMEs has been a key to the growth of the market. The rise in the number of internet users and the increasing popularity of social CRM and mobile CRM are also likely to fuel the growth of the market. As a part of their growth strategy, various technology giants are engaging in M&A activities, which is also bound to accelerate the progress of the CRM software market.
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Segmentation:
For the enhanced understanding; the CRM Market Share is segmented into five key dynamics: –
By Organization Size: SMEs, and Large Enterprises.
By Deployments: Cloud, and On-Premise.
By Applications: Sales, Manufacturing, Marketing, Customer Service, Social Networking, Supply Chain, and Distribution channels among others.
By Verticals: Healthcare, BFSI, Manufacturing, IT & Telecommunication, Media & Entertainment, Energy & Utilities and others.
By Regions: North America, Europe, APAC and Rest-of-the-World (RoW).
Regional Analysis:
Region-wise, the CRM software market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America market is likely to lead the global CRM software market over the forecast period. Deep penetration of cloud services across various industries and the presence of well-established infrastructure, which allows incorporation of new technologies makes North America's lead well-deserved. The region also has a cluster of key market players who are involved in rigorous growth strategies which leads to the expansion of the market.
The APAC CRM software market is likely to be the fastest-growing market over the forecast period. Rapid industrialization and high investment in the industrial sector are likely to provide an impetus to the growth of the market.
The Europe region is extensively reaping the benefits of big data analytics to gain an understanding of customer behavior, which is anticipated to favor market growth. Moreover, the enactment of supportive policies such as the General Data Protection Regulation (GDPR) is estimated to push the market forward.
Competitive Landscape
ZOHO Corporation (India), Infor Global Solutions, Inc. (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), NICE Ltd. (Israel), Verint Systems Inc. (U.S.), Microsoft Corporation (U.S.), Huawei Technologies Co. Ltd (China), SAP AG (Germany), SAS Institute Inc. (U.S.), IMS Health (U.S.), Infusionsoft (U.S.), Salesforce.com (U.S.), Convergys Corporation (U.S.), Adobe Systems Inc. (U.S.), NetSuite Inc. (U.S.), SugarCRM (U.S.), Amdocs (U.S.), SYNNEX Corporation (U.S.), and The Sage Group Plc (U.K) are the notable players in the global CRM software market.
Industry Updates
June 2019 – Artesian Solutions, a provider and developer of web-based market intelligence and sales surveillance software solution for businesses, launched a new CRM service, Artesian Risk and Compliance Hub (ARCH), for financial companies. ARCH enables relationship managers, underwriters within banks, financially regulated industries, and insurance companies to better understand and assess their corporate clients.
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List of Figures
Table12 Latin America CRM Software By Organization Size Market: By Country, 2017-2023
Table13 Global CRM Software By Deployment Market: By Regions, 2017-2023
Table14 North America CRM Software By Deployment Market: By Country, 2017-2023
Table15 Europe CRM Software By Deployment Market: By Country, 2017-2023
Table16 Asia-Pacific CRM Software By Deployment Market: By Country, 2017-2023
Table17 Middle East & Africa CRM Software By Deployment Market: By Country, 2017-2023
Table18 Latin America CRM Software By Deployment Market: By Country, 2017-2023
Table19 Global CRM Software By Application Market: By Regions, 2017-2023
Table20 North America CRM Software By Application Market: By Country, 2017-2023
Table21 Europe CRM Software By Application Market: By Country, 2017-2023
Table22 Asia-Pacific CRM Software By Application Market: By Country, 2017-2023
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