Press release
Customer Relationship Management Market was valued at USD 57.66 Bn. in 2022 and is expected to grow at a CAGR of 11.2% from 2022 to 2029, reaching nearly USD 121.22 Bn.
Customer Relationship Management Market
Customer Relationship Management (CRM) is a strategic business approach that enables companies to enhance existing customer relationships and rapidly engage with new ones. The CRM market is witnessing significant growth, driven by the need for businesses to streamline customer contacts, improve customer satisfaction, and efficiently manage data. CRM not only provides direction for customer interactions but also serves as a repository for organizing and tracking relevant data.
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The report aims to provide a comprehensive analysis of the global CRM market, presenting past and current industry status, forecasted market size, and trends. It includes a dedicated study of key players, utilizing PORTER and PESTEL analyses to assess the potential impact of micro-economic factors.
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What are Customer Relationship Management Market Dynamics?
The market is driven by increased focus on customer engagement, emerging SMEs, social platforms, and real-time idea exchange. CRM is utilized not only to enhance revenue and marketing efforts but also to improve customer interaction. Research indicates that 91% of firms with more than ten employees use CRM systems, incorporating them into sales, marketing, and customer service operations.
Technological advancements and the rapid pace of digital transformation are compelling businesses to replace disparate solutions with unified CRM systems. However, obstacles such as high CRM software costs, leadership challenges, privacy concerns, and the human element's absence pose challenges to market growth.
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What is Customer Relationship Management Market Regional Insight?
North America: Held the largest market share in 2022, driven by technological advancements in healthcare, IT and Telecom, and energy and utilities sectors.
Asia Pacific: Expected to grow at the highest CAGR, fueled by extensive investments in CRM, economic growth, digital transformation, and technological improvements in small and medium-sized enterprises.
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What is Customer Relationship Management Market Segmentation?
by Component
Software
Services
by Deployment Mode
On-Premise
Cloud
Hybrid
by Application
Customer Service
Customer Experience Management
CRM Analytics
Marketing Automation
Salesforce Automation
Others
by Industry Vertical
BFSI
Retail
Healthcare
IT & Telecom
Discrete Manufacturing
Government & Education
Others
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Who are Customer Relationship Management Market Key Players?
1. Salesforce.com
2. SAP AG
3. Oracle Corporation
4. Microsoft Corporation
5. Adobe Systems Inc
6. Amdocs
7. Convergys Corporation
8. Huawei Technologies Co. Ltd
9. Infor Global Solutions, Inc
10.SAS Institute Inc
11.SYNNEX Corporation
12.The Sage Group Plc
13.Verint Systems Inc
14.IBM Corporation
15.SugarCRM
16.NICE Ltd
17.IMS Health
18.NetSuite Inc
19.ZOHO Corporation
20.Infusionsoft
21.Copper CRM, Inc.
22.Insightly Inc.
23.Creatio
Table of content for the Customer Relationship Management Market includes:
Global Customer Relationship Management Market: Research Methodology
Global Customer Relationship Management Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Customer Relationship Management Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape
Market Size, Share, Size & Forecast by different segment |
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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