Customer Relationship Management Services Is Expected To Secure A Industry Value of US$ 164. 68 Billion by 2032

The global customer relationship management services is expected to secure a industry value of US$ 164. 68 Bn by 2032 while expanding at a CAGR of 11% during the forecast period from 2022 to 2032. Technologies such as; Artificial Intelligence (AI), machine learning, and models such as SaaS are expected to provide a significant boost to the market during the evaluation period.

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Increasing demand for automated engagement with customers and providing a seamless customer experience and services are projected to play a salient role in strengthening the market development in the coming time. Departments such as; sales and marketing and customer services are increasingly integrating CRM systems to enhance customer experience.

Competitive Landscape

The established players of the global customer relationship management market adopt various strategies such as; collaboration, partnership, and acquisition to expand their global market reach. Some of the recent developments among the key players of the market are as follows:

• In November 2020, Microsoft Corporation disclosed an alliance with Adobe Systems, Inc. and C3.ai to offer developed and efficient AI-powered CRM solutions.

• In April 2020, Zoho Corporation Pvt. Ltd., launched Bigin. It is a CRM software launched for SMEs which will enable them to build multiple customer pipelines.

• In February 2021, Copper CRM, Inc. acquired Sherlock to assist clients in strengthening their relations with customers. It also offers transparency to the professionals with respect to the customers' behavior and preferences.

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Key Companies Profiled:

• Oracle Corporation
• Insightly Inc.
• Microsoft Corporation
• Copper CRM, Inc.
• ADOBE INC.
• SugarCRM Inc.
• Salesforce.com, Inc.
• Zoho Corporation Pvt. Ltd
• Creatio
• SAP SE

"Adoption of customer relationship applications is being hampered by increasing cyberattacks"

Cyberattacks are a major concern for businesses that are considering adopting customer relationship applications. Cyberattacks can lead to data breaches, which can result in the loss of customer data, financial losses, and reputational damage. To protect against cyberattacks, businesses should ensure that their customer relationship applications are secure and up-to-date with the latest security patches.

Additionally, businesses should also consider implementing additional security measures such as two-factor authentication, encryption, and regular security audits. Finally, businesses should also ensure that their employees are trained on how to recognize and respond to potential cyberattacks.

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Key Segments:

• By Deployment

o Cloud
o On-Premise

• By End Use

o Government & Education
o Healthcare
o BFSI
o Retail
o Discrete Manufacturing
o IT & Telecom
o Others

• By Solution

o CRM Analytics
o Social Media Monitoring
o Marketing Automation
o Customer Experience Management
o Salesforce Automation
o Customer Service
o Others

• By Enterprise Size

o Small & Medium Enterprise
o Large Enterprises

Questionnaire answered in the report include:

• How the industry has grown?
• What is the present and future outlook on the basis of region?
• What are the challenges and opportunities?
• Why the consumption in region?
• In which year segment is expected to overtake segment?

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This release was published on openPR.