DUBLIN, May 17, 2022--(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 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
Software-as-a-Service (SaaS) CRM
Benefits of CRM Strategy
Disadvantages of CRM Implementations
CRM Application in Select End-Use Sectors
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
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 428 Featured)
Adobe Systems Incorporated
Huawei Technologies Co., Ltd.
Infor Global Solutions, Inc.
SAS Institute Inc.
The Sage Group Plc
Verint Systems, 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
Integration of IoT Devices Benefitting the CRM
Blockchain: Potential to Enhance Transparency & Security
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
For more information about this report visit https://www.researchandmarkets.com/r/xf4yzo
View source version on businesswire.com: https://www.businesswire.com/news/home/20220517005988/en/
Laura Wood, Senior Press Manager
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