Customer Relationship Management Software Market 2018 to 2023 by Global Key Leaders:Salesforce.com, Oracle, Microsoft, Adobe Systems, Huawei Technologies, IBM, SugarCRM, SYNNEX Corporation

Market Highlights:

CRM software market is estimated to exhibit high growth potential during the forecast period owing to its increasing demand across various industry verticals. Rising demand among the enterprises for CRM software is driving the growth of the market. Additionally, innovations and advancements in technology, and increasing demand for social CRM and mobile CRM are adding fuel to the growth of the CRM software market. Also, a large number of companies have been investing a huge amount of capital in strengthening customer relationship management in order to focus more on customer engagement. This ultimately helps in providing better customer service experience.

Salesforce.com, SAP AG, Oracle Corporation, Microsoft Corporation, Adobe Systems Inc., Amdocs, Convergys Corporation and Huawei Technologies Co. Ltd are some of the leading players in the market. SAP has ramped up its digital offerings with digital consumer insight data service, which leverages mobile network data to help marketers pinpoint physical customer behavior and develop effective CRM strategies to respond to buyer preferences and demographic shifts in a moment’s notice. Whereas, Salesforce has acquired Demandware for $2.8 billion, bolstering their ecommerce and retail application offerings. Demandware’s revenues will be counted toward Salesforce’s commerce cloud. The former focusses on offering innovative solutions and keeps up with the fast pace of the technological advancements. Increasing focus on customer engagement and growing demand for deployment of cloud based CRM modules are some of the major factors driving the growth of this market.

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Major Key Players

Salesforce.com (U.S.),
Oracle Corporation (U.S.),
Microsoft Corporation (U.S.),
Adobe Systems Inc. (U.S.),
Amdocs (U.S.),
Convergys Corporation (U.S.),
Infor Global Solutions, Inc. (U.S.),
SAS Institute Inc. (U.S.),
SYNNEX Corporation (U.S.),
SAP AG (Germany), Huawei Technologies Co. Ltd (China),
The Sage Group Plc (U.K), Verint Systems Inc. (U.S.), IBM Corporation (U.S.), SugarCRM (U.S.), NICE Ltd. (Israel), IMS Health (U.S.), NetSuite Inc. (U.S.), ZOHO Corporation (India) and Infusionsoft (U.S.).

According ro MRFR, The global CRM Software Market is expected to grow at a CAGR of approximately 6% during the forecast period 2017-2023.

Segmentation:

The global CRM software market is segmented on the basis of organization size, deployment, application and vertical. The application segment is further classified into sales, marketing, manufacturing, customer service, social networking, supply chain, distribution and others. The sales and marketing sub segment are expected to show significant growth owing to the increasing focus on customer engagement in the application. However, the difficulty of migrating data from existing CRM solutions to cloud based CRM modules could be one factor that could cause hindrance in the growth of global CRM software market. Also, other complexities associated with data transfer may hamper the market growth.

Regional Analysis

The global CRM software market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period. The growth of market in North America is attributed to technological advancements and increased adoption of cloud based technologies across various industry verticals.

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Intended Audience
• Technology Investors
• Research/Consultancy firms
• Technology Solution Providers
• Government Bodies
• Regulatory agencies
• Corporate

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This release was published on openPR.