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Dec 02, 2020 (The Expresswire) —
The global customer relationship management market size is projected to reach USD 113.46 billion by the end of 2027. The integration of advanced concepts such as AI and IoT will emerge in favor of growth of the overall market in the coming years.. According to a report published byFortune Business Insights, titled “Customer Relationship Management Market Size, Share and COVID-19 Impact Analysis, By Component (Software, Services), By Deployment (On-Premises, Cloud), By Enterprise Size (Large Enterprises, SMEs), By Application (Marketing and Sales Automation, Customer Management, Lead Generation and Customer Retention, Customer Support and Contact Centre, Others), By Vertical (Banking, Financial Services and Insurance (BFSI), Manufacturing, IT and Telecommunications, Retail and Consumer Goods, Healthcare, Transportation and Logistics, Others) and Regional Forecast, 2020 2027,” the market was worthUSD 47.79 billionin 2019 and will exhibit a CAGR of 11.6% during the forecast period, 2020-2027.
customer relationship management market is a platform that helps organizations and businesses manage their relationships with the customers as well as other businesses. The increasing adoption of software as a service across numerous industry verticals will create several growth opportunities for the companies operating in the CRM market. The availability of open source as well as low cost cloud platforms will lead to a wider product adoption across the world. The presence of several large scale vendors will contribute to the growth of the market in the coming years. The increasing investments in development of advanced CRM and the efforts put in to integrate latest concepts such as artificial intelligence and IoT will emerge in favor of market growth. The ability of a customer relationship management to simplify business management and operations will bode well for the growth of the market in the coming years.
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- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
List of companies profiled in the report:
- Copper CRM, Inc. (San Francisco, California)
- Creatio (Boston, Massachusetts)
- Freshworks, Inc. (California, United States)
- HubSpot, Inc. (Massachusetts, United States)
- Infor, Inc. (New York, United States)
- Infusion Software, Inc. (Keap) (Arizona, United States)
- Insightly, Inc. (California, United States)
- Microsoft Corporation (Washington, United States)
- Oracle Corporation (California, United States)
- Pipedrive (New York, United States)
- Salesforce.com, Inc. (California, United States)
- SAP SE (Walldorf, Germany)
- SugarCRM (California, United States)
- Teamgate.com (London, United Kingdom)
- Zoho Corporation Pvt. Ltd. (Tamil Nadu, India)
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Adoption of CRM Solutions has Risen During the Covid-19 Pandemic
The recent coronavirus outbreak has created a huge panic among people as well as businesses across the world. Accounting to the rapid spread of the disease, governments have enforced strict lockdowns and advised social distancing practices. As a result, several businesses have been forced to shut down. Several businesses have implemented work from home policies. It is observed that CRM software have helped these organizations function seamlessly. Thus, the customer relationship management market will benefit from the ongoing Covid-19 pandemic.
Segmentation Customer relationship management market:
By Enterprise Size
- Marketing and Sales Automation
- Customer Management
- Lead Generation and Customer Retention
- Customer Support and Contact Centre
- Others (Social Media Management, CRM Analytics, etc.)
- Banking, Financial Services and Insurance (BFSI)
- IT and Telecommunications
- Retail and Consumer Goods
- Transportation and Logistics
- Others (Government, Media and Entertainment, Education, Etc.)
By Geography Customer relationship management market
- North America (The U.S., Canada)
- Europe (The U.K., Germany, France, Russia,Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South East Asia,Rest of Asia Pacific)
- Middle East and Africa (GCC, South Africa,Rest of Middle East and Africa)
- Latin America (Mexico, Brazil, Rest of Latin America)
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Table of Content Customer relationship management market:
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
3.1 Macro and Micro Economic Indicators
3.2 Drivers, Restraints, Opportunities and Trends
3.3 Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Customer Relationship Management (CRM) Market Share Analysis and Matrix, 2019
5 Key Market Insights and Analysis, By Segments
July 2019 Pipedrive, announced that it will be adding AI capabilities to its existing customer relationship management market software. Through the integration of AI, Pipedrive will look to enhance its CRM solutions and subsequently acquire a wider consumer base.
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Name: Ashwin Arora
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Global Customer Relationship Management Market 2020 Top Key Players, Revenue, Market Share, Size, Market Dynamics and Forecast to 2027
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