Connect with us

Hi, what are you looking for?

CRM Market: $96.39 billion by 2027, at 11.1% of CAGR

The customer relationship management market growth is driven by surge in adoption of new cutting edge technologies in various organizations and rise in need to create new mile stone in customer engagement, sustainability and product marketing sector. In addition, increase in demand for customer satisfaction and simplification of customer order generation and delivery system to increase satisfaction of customer and its sustainability increases the use of customer relationship management software among the organization. Using a CRM system can give a clear overview of customer behavior to the companies. Project manager can see everything in one place. It provides customizable dashboard that can specify a customer’s previous history with organization, the status of their orders, any outstanding customer service issues, and more.

Key industry players such as – Insightly, Inc., Microsoft Corporation, Netsuite Inc., Oracle Corporation, Pegasystems, Sage Group plc, Salesforce.com, Inc., SAP SE, SugarCRM, and Zoho Corporation Pvt. Ltd.

The customer relationship management market size was valued at $41.93 billion in 2019, and is projected to reach $96.39 billion by 2027, growing at a CAGR of 11.1% from 2020 to 2027.

Depending on deployment mode, the cloud segment garnered the largest share in 2019, and is expected to continue this trend during the forecast period. The segment is expected to witness highest growth in the upcoming years as cloud deployment does not need any investment in IT infrastructure as all data is stored on cloud server, which increases the demand for customer relationship management software in small and medium scale organizations. 

On the basis of component, the software segment dominated the overall customer relationship management market share in 2019, and is expected to continue this trend during the forecast period. This is attributed to increase in adoption of CRM software among enterprises to gain strategic as well as competitive advantage and strong customer retention over their competitors. In addition, it helps industry vertical to engage new customer easily and sustain them for long time, which drives the growth of the market. However, the service segment is expected to witness highest growth, as service segment of customer relationship management market ensures effective coordination between software provider companies and users of CRM software by providing services such as implementation, training, consulting services, and managed services. The adoption of these software speeds up the customer satisfaction of various industrial verticals such as BFSI, IT & telecommunication, and healthcare, which maximizes the value of existing customer by optimizing their needs and minimizes the cost of operation. This further fuel the adoption of services that are needed to handle the software properly. 

Download Sample Report (Get Full Insights in PDF – 334 Pages) at:

https://www.alliedmarketresearch.com/request-sample/628

The Covid-19 pandemic has affected global economy and has changed many things. Customer relationship management software is witnessing a boom in the corona pandemic. CRM software is assisting many businesses to enhance their operation and boost up their functionality. In this pandemic condition work force all industrial verticals is working remotely. In this case, loss and theft of customer data is the most important problem. CRM tools are also providing security of customer data and capable of managing and storing complex amount of data, which can be lost in data transfer. 

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/628

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Written By

You may also like:

Tech & Science

Many state sector organization leaders say low-code reduces cybersecurity issues.

Tech & Science

The data suggests that the APOE genotype impacts COVID outcomes in two ways: By modulating the immune response and by preventing SARS-CoV-2 from infecting...

Tech & Science

Elon Musk showed off the latest version of a humanoid robot that the world's richest man said could one day eliminate poverty.

Business

Britain’s housing market has been rocked by the UK government’s costly budget, as retail banks pull mortgage rates.