The Template Global Market Report 2023 by The Business Research Company, provides CRM software market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Template Global Market Report 2023, the market size will grow from $128.25 billion in 2022 to $148.49 billion in 2023 at a compound annual growth rate (CAGR) of 15.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global CRM software is expected to grow to $263.1 billion in 2027 at a CAGR of 15.4%.
Increasing number of customers of the organizations and the rising need for customer satisfaction are expected to benefit the CRM software market in the forecast period. Organizations should offer customized services to customers, gain better knowledge of their purchasing habits and other details, develop cross-selling opportunities and create competitive differentiators to retain existing customers and to attract new customers. These drive the demand for the use of CRM software in organizations to understand their customers in a better way and to maintain a good relationship with them
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The CRM software market is segmented:
1) By Deployment: Cloud CRM, On-Premise CRM
2) By Size of Enterprise: Small&Mid sized enterprises, Large enterprises
3) By Application: Sales, Marketing, Manufacturing, Customer service, Social networking, Supply chain, Distribution, Other Applications
Social and Mobile CRM are increasingly integrating social media channels into CRM platforms to offer to its full capabilities on every smart device by having a real-time access at any place or time. This integration helps to achieve greater productivity, better customer experience, and access to more relevant information. Advertisers have embraced social media platforms to associate and share with customers for improving products and perceptions. These also help businesses to manage customer grievances, requests, and inquiries. More number of users can access the data using social and mobile CRM. For example, Wells Fargo has implemented social CRM to engage with the customers and improve their availability. Wells Fargo also uses CRM to solve customer queries.
The CRM software market report table of contents includes:
1. Executive Summary
2. Customer Relationship Management (CRM) Software Market Characteristics
3. Customer Relationship Management (CRM) Software Market Trends And Strategies
4. Customer Relationship Management (CRM) Software Market – Macro Economic Scenario
5. Customer Relationship Management (CRM) Software Market Size And Growth
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26. Africa Customer Relationship Management (CRM) Software Market
27. Customer Relationship Management (CRM) Software Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Customer Relationship Management (CRM) Software Market
29. Customer Relationship Management (CRM) Software Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Salesforce
- Microsoft
- Oracle
- SAP
- Sugar
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