IMARC Group, a leading market research company, has recently releases report titled “Customer Relationship Management (CRM) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global customer relationship management market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Customer Relationship Management Market?
The global customer relationship management market size reached US$ 57.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 110.3 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.
What is Customer Relationship Management?
Customer relationship management (CRM) refers to the practices, strategies, and technologies used by businesses to manage and analyze customer data and interactions throughout their lifecycle. It involves the use of technology platforms that allow businesses to collect and store customer data, such as contact information, preferences, purchasing history, and interactions, with the company across different channels, including email, social media, and phone. It also aids in understanding customer behavior and preferences and enables businesses to improve their offerings and customer experiences across the globe.
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What are the growth prospects and trends in the customer relationship management industry?
At present, the expansion of the e-commerce sector and the escalating need for consumer-centric strategies that prioritize the customer experience to personalize interactions and provide better service represent one of the key factors positively influencing the market across the globe.
In addition, the increasing adoption of on-premises solutions due to their low costs, scalability, and easy accessibility are strengthening the market growth. Apart from this, the rising penetration of high-speed internet and the growing adoption of mobile devices are also catalyzing the demand for CRM to integrate consumer interactions and provide a more holistic view of their activity across different channels.
In line with this, the increasing demand for personalized customer experiences based on their preferences, history, and behavior is fueling the growth of the market worldwide.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Software
- Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Application:
- Customer Service
- Customer Experience Management
- CRM Analytics
- Marketing Automation
- Salesforce Automation
- Others
Breakup by Industry Vertical:
- BFSI
- Retail
- Healthcare
- IT and Telecom
- Discrete Manufacturing
- Government and Education
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Adobe Inc., Cisco Systems Inc., Insightly Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Pegasystems Inc., Ramco Systems Limited, Sage Group plc, Salesforce.com Inc., SAP SE, SugarCRM Inc. and Zoho Corporation Private Limited.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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