The global customer relationship management market size is projected to reach USD 113.46 billion by the end of 2027. The integration of advanced concepts such as AI and IoT will emerge in favor of growth of the overall market in the coming years.. According to a report published by Fortune Business Insights, titled “Customer Relationship Management Market Size, Share & COVID-19 Impact Analysis, By Component (Software, Services), By Deployment (On-Premises, Cloud), By Enterprise Size (Large Enterprises, SMEs), By Application (Marketing and Sales Automation, Customer Management, Lead Generation and Customer Retention, Customer Support and Contact Centre, Others), By Vertical (Banking, Financial Services and Insurance (BFSI), Manufacturing, IT and Telecommunications, Retail and Consumer Goods, Healthcare, Transportation and Logistics, Others) and Regional Forecast, 2020 – 2027,” the market was worth USD 47.79 billion in 2019 and will exhibit a CAGR of 11.6% during the forecast period, 2020-2027.
customer relationship management market is a platform that helps organizations and businesses manage their relationships with the customers as well as other businesses. The increasing adoption of software as a service across numerous industry verticals will create several growth opportunities for the companies operating in the CRM market. The availability of open source as well as low cost cloud platforms will lead to a wider product adoption across the world. The presence of several large scale vendors will contribute to the growth of the market in the coming years. The increasing investments in development of advanced CRM and the efforts put in to integrate latest concepts such as artificial intelligence and IoT will emerge in favor of market growth. The ability of a customer relationship management to simplify business management and operations will bode well for the growth of the market in the coming years.
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Reasons to Purchase this Report:
- Comprehensive analysis of the Medical Lighting Technologies Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies customer relationship management market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
List of companies profiled in the report:
- Copper CRM, Inc. (San Francisco, California)
- Creatio (Boston, Massachusetts)
- Freshworks, Inc. (California, United States)
- HubSpot, Inc. (Massachusetts, United States)
- Infor, Inc. (New York, United States)
- Infusion Software, Inc. (Keap) (Arizona, United States)
- Insightly, Inc. (California, United States)
- Microsoft Corporation (Washington, United States)
- Oracle Corporation (California, United States)
- Pipedrive (New York, United States)
- Salesforce.com, Inc. (California, United States)
- SAP SE (Walldorf, Germany)
- SugarCRM (California, United States)
- Teamgate.com (London, United Kingdom)
- Zoho Corporation Pvt. Ltd. (Tamil Nadu, India)
Adoption of CRM Solutions has Risen During the Covid-19 Pandemic
The recent coronavirus outbreak has created a huge panic among people as well as businesses across the world. Accounting to the rapid spread of the disease, governments have enforced strict lockdowns and advised social distancing practices. As a result, several businesses have been forced to shut down. Several businesses have implemented work from home policies. It is observed that CRM software have helped these organizations function seamlessly. Thus, the customer relationship management market will benefit from the ongoing Covid-19 pandemic.
Segmentation Customer relationship management market:
By Enterprise Size
- Large Enterprises
- Marketing and Sales Automation
- Customer Management
- Lead Generation and Customer Retention
- Customer Support and Contact Centre
- Others (Social Media Management, CRM Analytics, etc.)
- Banking, Financial Services and Insurance (BFSI)
- IT and Telecommunications
- Retail and Consumer Goods
- Transportation and Logistics
- Others (Government, Media and Entertainment, Education, Etc.)
By Geography Customer relationship management market
- North America (The U.S., Canada)
- Europe (The U.K., Germany, France, Russia,Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South East Asia,Rest of Asia Pacific)
- Middle East & Africa (GCC, South Africa,Rest of Middle East & Africa)
- Latin America (Mexico, Brazil, Rest of Latin America)
Table of Content Customer relationship management market:
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
3.1 Macro and Micro Economic Indicators
3.2 Drivers, Restraints, Opportunities and Trends
3.3 Impact of COVID-19
- Short-term Impact
- Long-term Impact
4. Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Customer Relationship Management (CRM) Market Share Analysis and Matrix, 2019
5. Key Market Insights and Analysis, By Segments
July 2019 – Pipedrive, announced that it will be adding AI capabilities to its existing customer relationship management market software. Through the integration of AI, Pipedrive will look to enhance its CRM solutions and subsequently acquire a wider consumer base.
KEY QUESTIONS ANSWERED:
- What is the customer relationship management market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Medical Lighting Technologies Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest customer relationship management market share?
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