DUBLIN--(BUSINESS WIRE)--The "Customer Relationship Management (CRM) Software - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Customer Relationship Management (CRM) Software Market to Reach US$123.8 Billion by the Year 2027
The global market for Customer Relationship Management (CRM) Software estimated at US$55.3 Billion in the year 2020, is projected to reach a revised size of US$123.8 Billion by 2027, growing at a CAGR of 12.2% over the period 2020-2027.
SMEs, one of the segments analyzed in the report, is projected to grow at a 15.8% CAGR to reach US$58 Billion by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Large Enterprises segment is readjusted to a revised 9.6% CAGR for the next 7-year period. This segment currently accounts for a 62.5% share of the global Customer Relationship Management (CRM) Software market.
The U.S. Accounts for Over 49.6% of Global Market Size in 2020, While China is Forecast to Grow at a 17.2% CAGR for the Period of 2020-2027
The Customer Relationship Management (CRM) Software market in the U.S. is estimated at US$27.4 Billion in the year 2020. The country currently accounts for a 49.63% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$11.3 Billion in the year 2027 trailing a CAGR of 17.2% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.2% and 11.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.8% CAGR while Rest of European market (as defined in the study) will reach US$11.3 Billion by the year 2027.
What's New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the publisher's digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession
- 2020 Marked as a Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed?
- Pandemic-Led Changes in Business Operations Necessitate Optimization of CRM Solutions
- CRM Helps Businesses Manage the COVID-19 Crisis
- CRM Remains an Important Tool for Businesses During the COVID-19 Pandemic
- Competitive Landscape
- Competitive Market Presence - Strong/Active/Niche/Trivial for 74 Players Worldwide in 2022 (E)
- An Introduction to Customer Relationship Management (CRM)
- Evolution of CRM
- Types of CRM
- Deployment Options in CRM
- On-Premise CRM
- Software-as-a-Service (SaaS) CRM
- Benefits of CRM Strategy
- Disadvantages of CRM Implementations
- CRM Application in Select End-Use Sectors
- CRM Ecosystem
- CRM Emerges as an Effective Approach to Create and Maintain Strong Customer Relations
- CRM Software: The Key Enabler of Efficient CRM Strategy
- Customer-Centric Operations Drives Increased Spending on CRM Software
- Developed Regions Lead, Developing Economies Poised for Strong Future Growth
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 428 Featured)
- Acoustic, L.P.
- Adobe Systems Incorporated
- Concentrix Corporation
- Huawei Technologies Co., Ltd.
- HubSpot, Inc.
- Infor Global Solutions, Inc.
- Microsoft Corporation
- NICE Ltd.
- Oracle Corporation
- Pegasystems Inc.
- Salesforce.com, Inc.
- SAP SE
- SAS Institute Inc.
- SugarCRM Inc.
- The Sage Group Plc
- Verint Systems, Inc.
- Zendesk, Inc.
- Zoho Corporation Pvt. Ltd.
3. MARKET TRENDS & DRIVERS
- Traditional CRM Software Gives Way to New Age Software Solutions
- CRM Trends Set to Drive Innovations in the CRM Software Market
- Smarter CRM Based on AI
- CRM with Conversational UI and Voice Recognition
- Advancements in Process Automation
- Data Integration
- Integration of IoT Devices Benefitting the CRM
- Blockchain: Potential to Enhance Transparency & Security
- Hyper Individualization
- Ongoing Expansion of the CRM Platform Market
- Social CRM Continues to Witness Growth
- Enhanced Mobility for CRM Software
- CRM to Gain a Thorough Understanding of Customer Behavior
- Connecting Every Business Aspect to CRM
- Every Team Relying on CRM Tools
- Growing Role of CRM in Customer Experience
- Emergence of Channel-less CRM
- Self-Service CRM is Expected to Become a Norm
- CRM for Freelancers and Solo Entrepreneurs
- Sophisticated CRM can Prevent Tech Stack Fatigue
- CRM Automates Business Workflows
- AI and Machine Learning Poised to Transform CRM Software Marketspace
- AI Integration with CRM Presents Opportunities
- IoT & Blockchain, the Two Key Game Changer Technologies for CRM
- Growing Role of Big Data in CRM
- Social CRM: The Next Sought After Functionality in CRM Software Market
- Mobile CRM Continues to Gain Momentum
- Rising Adoption of Mobile Devices and Developments in Mobile Internet Fuels Take Mobile CRM Software Market
- Customer Service and Support Continues to Lead the Global CRM Software Market
- Rising Importance of CRM in Enhancing Customer Experience
- Marketing: The High Growth Application Market for CRM Software
- Cloud Technology Optimally Positioned to Deliver CRM Software On-Demand
- Cloud-based SaaS CRM: Playing a Vital Part in Enabling Low-Cost CRM Strategy
- CRM Technology Advancements Present Tremendous Potential to Improve Business Operations
- Sales Force Automation Software: The Traditional Revenue Contributor
- Rising Prominence of CRM Software for E-Commerce Businesses
- Top CRM Software for E-Commerce Sector: 2018
- CRM Software Gains Prominence in Life Sciences Sector
- Pharmaceutical CRM: Increasing Number of Pharma Companies Drive Growth
- Healthcare CRM Market Poised for Growth
- SMEs: The Most Lucrative Consumer Cluster for SaaS CRM
- CRM Outsourcing Essential for Large-Scale Client Management Needs
- CRM Analytics Help Organizations Make Faster Decisions
- Banking & Financial Services Enterprises Prioritize CRM Adoption
- Insurance Agencies Seek CRM Capability for Effective Collaboration
- Retail Sector Drives Significant Gains in the CRM Market
- Key Issues & Challenges Confronting CRM Software Market
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
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