The global customer relationship management market size was valued at USD 51.4 billion in 2021, and is predicted to be worth around USD 156.6 billion by 2030, registering a CAGR of 13.2% during the forecast period 2022 to 2030.
The continuous demand for innovative solutions to analyze customer information, collate critical customer data, and transform it into a better customer experience strategy are driving factors for CRM solutions across all sizes of businesses. This further led to the integration of customer relationship management solutions with advanced technologies such as big data analytics, machine learning, and AI-powered analytics are expected to boost product innovation and development across CRM solutions for a better customer experience and high operational efficiency.
The COVID-19 pandemic has driven several organizations across the globe to develop a roadmap and to understand together with their consumers how to move ahead in the future. Rising demand for automated engagement with customers, improving the scope of digital operations and enhancing customer experience and services are driving the demand for Customer Relationship Management (CRM) solutions across various industries globally. Emerging technologies, such as cloud computing technology, Artificial Intelligence (AI), machine learning, and the availability of various service models such as SaaS, Infrastructure as a Service (IaaS), and Platform as a Service (PaaS) are projected to drive the market over the forecast period.
The growing use of digital channels by customers to communicate with brands and organizations is anticipated to boost the market growth over the forecast period. A recent survey conducted by SoftClouds suggests that approximately 82% of the organizations use customer relationship management systems for sales reporting and process automation. It gives a better understanding of buyer behavior and their preference, which enables brands and organizations to adopt the best customer relationship management strategies and deliver performance in real-time.
|Market Size||US$ 156.6 billion by 2030|
|Growth Rate||CAGR of 13.2% From 2022 to 2030
|Largest Market||North America|
|Forecast Period||2022 to 2030|
|Segments Covered||Solution, Deployment, Enterprise Size, End use|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Salesforce.com, Inc.; Microsoft Corporation; SAP SE; Oracle Corporation; ADOBE INC.; SugarCRM Inc.; Zoho Corporation Pvt. Ltd.; Copper CRM, Inc.; Insightly, Inc.; Creatio|
By Solution Analysis
The customer service segment dominated the market and accounted for a revenue share of over 20% in 2021. The key driving factors for the growth of the market include is the growing importance of understanding customer behavior and their preferences, encouraging brands and organizations continue to adopt customer relationship management strategies to deliver the best service performance in real-time.
The CRM analytics segment is anticipated to witness a significant CAGR over the forecast period. The availability of multiple platforms and increasing adoption for integration of analytics features in customer relationship management solutions that benefit companies to derive rich insights from business data are the factors expected to drive the growth of the segment.
By Deployment Analysis
The cloud segment dominated the market and accounted for a revenue share of over 50.0% in 2021. Deployment of the CRM software on cloud, allows the users to access the same information from any device at any time. The increased product demand drives the market among small and medium enterprises. It offers several benefits, such as high flexibility, real-time access, scalability, cost-effectiveness, and low hardware maintenance cost, offered by the SaaS deployment model.
According to a customer relationship management buyer survey conducted by SelectHub, several larger enterprise groups have preferred on-premise as compared to cloud-based deployment. Due to the increasing demand for data privacy, the demand for on-premise customer relationship management solutions has increased. Furthermore, the on-premise model is still the first choice by the largest organizations in the world, as they have business-critical information to be stored on their servers for enhanced data protection.
By Enterprise Size Analysis
The large enterprises segment accounted for the highest revenue share of more than 60.0% in 2021. With the presence of multiple operational departments in large enterprises, CRM solutions are utilized to help integrate customer data with business process management features and enable users to coordinate with their sales, marketing, and customer support processes effortlessly and drive the company’s overall performance.
The growing adoption of a number of government initiatives through digital campaigns, such as video marketing, social media, and search engine marketing, across the globe are expected to drive the SME segment at a significant CAGR over the forecast period. The increasing demand for business networking, internal transparency and collaboration, smooth employee transition, funding opportunities from government bodies, and building brand and reputation will enable SMEs to implement customer relationship management solutions across businesses.
By End-use Analysis
The retail segment emerged as the largest shareholder in 2021, accounting for nearly 24.0% of the market, respectively. The growing online shopping platforms and mobile application is offering huge customer data to retail companies. These retail companies are shifting towards customer relationship management software and solutions to understand business growth, market trends, and experience.
The increasing focus on digital marketing activities and customized advanced IT solutions drive the segment over the forecast period. The increasing competition in the retail industry is driving the demand for advanced CRM software and is expected to witness a significant CAGR over the forecast period and also online systems to enable enterprises to provide their customers with efficient customer-centric services.
Innovative customer relationship management solutions and digital solutions that support multiple channels for sale processes, offer analyses, and complete data-based oversight of customers and their purchasing habits are also rising. These developments in the retail segment are expected to drive the market’s growth over the forecast period.
By Regional Analysis
North America dominated the Customer Relationship Management (CRM) market and accounted for the largest revenue share of44.1% in 2021. In North America, the U.S. held the major revenue share of the market in 2021. The key driving factors are increasing adoption of CRM solutions by several enterprises across the region that rely on the use of advanced technologies and are expected to dominate the market over the forecast period.
In Asia Pacific, the market is estimated to register the highest CAGR over the forecast period. The rising demand for innovative customer relationship management solutions from emerging countries such as China and India is acting as a catalyst for the growth of the regional market.
Zoho Corporation Pvt. Ltd
Copper CRM, Inc.
Customer Experience Management
Social Media Monitoring
By Enterprise Size
Small & Medium Enterprise
IT & Telecom
Government & Education
Middle East & Africa (MEA)
The customer relationship management market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of customer relationship management market for the base year 2022 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global customer relationship management market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the customer relationship management market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted customer relationship management market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the customer relationship management capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of customer relationship management by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global customer relationship management market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major customer relationship management market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of customer relationship management market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the customer relationship management industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
customer relationship management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to customer relationship management market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of customer relationship management market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new customer relationship management market. These factors have benefited the growth of the global market for customer relationship management. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for customer relationship management. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of customer relationship management are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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