The artificial intelligence (AI) in customer relationship management (CRM) market size is expected to see exponential growth in the next few years. It will grow to $27.93 billion in 2028 at a compound annual growth rate (CAGR) of 36.3%. The growth in the forecast period can be attributed to the growth of cloud-based solutions, rising demand for omnichannel engagement, increased investment in AI research and development, expansion of data sources, and rising focus on customer experience. Major trends in the forecast period include AI-powered chatbots, enhanced personalization, advanced predictive analytics, AI-driven sales automation, enhanced data privacy, and security measures.
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Scope Of Artificial Intelligence (AI) In Customer Relationship Management (CRM) Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence (AI) In Customer Relationship Management (CRM) Market Overview
Market Drivers –
The growing adoption of automation in marketing and sales is expected to propel the growth of artificial intelligence (AI) in the customer relationship management (CRM) market going forward. Automation in marketing and sales refers to the use of technology and software to automate repetitive tasks, streamline workflows, and enhance efficiency in marketing campaigns and sales processes. The growing adoption of automation in marketing and sales is driven by its ability to streamline repetitive tasks like email campaigns and lead scoring, freeing up time for strategic activities. Additionally, automation provides real-time data and analytics, allowing businesses to make informed decisions and quickly adapt strategies. AI in CRM enhances personalized customer interactions by automating routine tasks and providing data-driven insights to optimize campaigns and sales strategies. For instance, in September 2023, according to a survey by the University of Hamburg, a Germany-based public research university, a study of 129 manufacturing and sales leaders revealed that 44% of companies are strategically adopting marketing automation. Additionally, the average level of automation is anticipated to rise by 3.6%. Furthermore, 64% of respondents indicated that the importance of marketing automation has increased compared to the previous year. Therefore, the growing adoption of automation in marketing and sales will drive the growth of artificial intelligence (AI) in the customer relationship management (CRM) market.
Market Trends –
Major companies operating in the artificial intelligence (AI) in the customer relationship management (CRM) market are focusing on advancements in customer experience, such as generative AI technology, to enhance personalized interactions and automate content creation. Generative AI technology uses advanced AI algorithms to create personalized customer interactions, automate content generation, and enhance customer relationship management through data-driven insights. For instance, in March 2023, Salesforce Inc., a US-based cloud-based software company, launched Einstein GPT, the pioneering generative AI CRM technology that delivers AI-generated content across sales, service, marketing, commerce, and IT at scale. By integrating Salesforce’s proprietary AI models with generative AI from an ecosystem of partners and real-time data from the Salesforce Data Cloud, Einstein GPT transforms customer experiences. It enables seamless connectivity to OpenAI’s advanced models or external ones, allowing users to generate dynamic content and adapt to evolving customer needs in real time.
The artificial intelligence (AI) in customer relationship management (crm) market covered in this report is segmented –
1) By Type: Machine Learning, Natural Language Processing, Image and Speech Recognition, Predictive Analytics, Chatbots And Virtual Assistants
2) By Component: Software, Services
3) By Application: Sales Automation, Customer Service And Support, Marketing Personalization, Customer Data Analysis, Lead Scoring And Qualification\
4) By End-Use Industry: Banking, Financial Services And Insurance (BFSI), Retail And E-commerce, Information Technology (IT) And Telecommunications, Healthcare, Manufacturing, Other End-Use Industries
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Regional Insights –
North America was the largest region in the artificial intelligence (AI) in customer relationship management (CRM) market in 2023. The regions covered in the artificial intelligence (AI) in customer relationship management (CRM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the artificial intelligence (AI) in customer relationship management (CRM) market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce Inc., Adobe Inc., Genesys Telecommunications Laboratories Inc., HubSpot Inc., Zendesk Inc., Zoho Corporation Pvt. Ltd., Pegasystems Inc., Freshworks Inc., C3.ai Inc., SugarCRM Inc., Intercom Inc., Pipedrive Inc., Copper Inc., Insightly Inc., Conversica Inc., Streak Inc., Kreato CRM, Spiro Technologies Inc., Nimble Inc., Vtiger Systems, Salesflare Inc< /b>
Table of Contents
1. Executive Summary
2. Artificial Intelligence (AI) In Customer Relationship Management (CRM) Market Report Structure
3. Artificial Intelligence (AI) In Customer Relationship Management (CRM) Market Trends And Strategies
4. Artificial Intelligence (AI) In Customer Relationship Management (CRM) Market – Macro Economic Scenario
5. Artificial Intelligence (AI) In Customer Relationship Management (CRM) Market Size And Growth
…..
27. Artificial Intelligence (AI) In Customer Relationship Management (CRM) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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