Pune,India, Dec. 14, 2023 (GLOBE NEWSWIRE) — Global CRM Market size was valued at USD 64.41 billion in 2022 and is projected to reach USD 157.53 billion by 2030, exhibiting a CAGR of 12.0% during the forecast period. Customer relationship management software aids in the management, organization, and monitoring of business operations in order to increase customer satisfaction. Increase in Service and Product Enquiries with the Adoption of CRM to Fuel Market Growth. Fortune Business Insights provide this information in its report titled Customer Relationship Management (CRM) Market Forecast, 2024-2030.
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Key Industry Development:
- Oracle introduced the next generation of Oracle Fusion Sales. It is a sales automation application that helps to close deals faster and is used for identifying high-value opportunities.
Key Takeaways
- Surging Remote Location-based Employees and Clients to Drive the CRM Market Growth
- Integration of Artificial Intelligence to Propel Potential Market Trend.
- Implementing Mobile-friendly and Multichannel Capabilities into CRM Solutions to Propel the Market
- The software manages and delivers solutions to consumers, assisting in the development of strong connections with end-users.
- Implementation of Multichannel Capabilities into CRM Solutions to Fuel the Market
Discover the Leading Players Featured in the Report:
“Companies leading the CRM Market are Infor, Inc. (U.S.), Infusion Software, Inc. (Keap) (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.) , Oracle Corporation (U.S.) , Salesforce.com, Inc. (U.S.) , SAP SE (Germany) , Adobe Systems, Inc. (U.S.) , Zendesk, Inc. (U.S.) , HubSpot, Inc. (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 12.0% |
| 2030 Value Projection | USD 157.53 Billion |
| Base Year | 2022 |
| CRM Market Size in 2022 | USD 64.41 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 176 |
| Segments covered | Component, Deployment, Enterprise Size Application, Vertical and Geography |
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Drivers and Restraints:
Driving Market Growth through Rapid Digital Transformation
CRM solution demand is expected to be driven by the integration of emerging technologies across business domains to improve operations and value delivery to customers. In addition, companies intend to implement business strategies and market trends in order to expand their geographical presence. Following data analysis, this strategy enables organizations to provide a better customer experience.
Segments:
By Component
By Deployment
By Enterprise Size
By Application
- Marketing and Sales Automation
- Customer Management
- Lead Generation & Customer Retention
- Customer Support and Contact Centre
- CRM Analytics
- Social Media Management
By Vertical
- Banking, Financial Services and Insurance
- Manufacturing
- IT and Telecommunications
- Retail and Consumer Goods
- Healthcare
- Government
- Transportation and Logistics
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
Regional Insights:
North America Held the Largest Revenue and Dominate the Market
During the forecast period, North America is expected to dominate the global CRM market size. Demand for the software is expected to be driven by rapidly growing businesses and increased competition among service providers.
The Latin American CRM market share is expected to expand steadily over the projected period. The region’s size is growing due to increased demand for software across industrial sectors such as BFSI, healthcare, and retail.
During the forecast period, Asia Pacific is expected to grow quickly. The CRM market trend is in high demand because of the retail industry’s demand and the region’s widespread adoption of new technology.
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Competitive Landscape:
Innovative Launch Operations by Key Players to Boost Market Growth
Players in the market have launched new techniques in the market to boost the market growth with their solutions and to elevate the competition in the market. It includes investments and the launch of new and advanced products in the market. Companies have been applying new plans, such as partnerships and mergers, to support their position in the market.
FAQ’s
How big is the CRM Market?
CRM Market size was USD 64.41 billion in 2022.
How fast is the CRM Market growing?
The CRM Market will exhibit a CAGR of 12.0% during the forecast period, 2023-2030
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- Customer Relationship Management Market