Customer Relationship Management (CRM) Software Market 2019 Global Industry Analysis By Size, Share, Growth Factors, Competitive Landscape, With Regional Forecast To 2023
The report on the global CRM Software market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player’s market share analysis, competitive landscape and supply chain analysis.
The global CRM software market is anticipated to tread forward at a steady pace during the forecast period of 2017-2023. In the recent years, the business world has observed many advancements. Major players in this industry are on the lookout for better technologies that aid them to develop their business. This is one of the major factors that work in the favor of the global market for CRM software.
Customer relationship management software is an essential business software that has helped enterprises across the globe to interact with their customers a lot more efficiently. It can perform a number of important tasks like handling customer data, maintaining an amicable client-business relationship and storing sensitive business data. This software also has a part in streamlining the sales processes of organizations. On the whole, this software can enhance the productivity and effectiveness of any given commercial set-up.
At present, the commercial sector is on an upward trend and it is open to accept any new innovative technology that boosts its growth. Owing to this it is believed that the global CRM software market will grow by leaps and bounds in the forthcoming years. The proposed CAGR for the prediction period of 2017-2023 is 6%.
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Major Key Players
- SAP AG (Germany),
- com (US),
- Oracle Corporation (US),
- Adobe Systems Inc. (US),
- Microsoft Corporation (US),
- Amdocs (US)
- Huawei Technologies Co. Ltd (China),
- Convergys Corporation (US),
- Infor Global Solutions, Inc. (US),
- SYNNEX Corporation (US),
- SAS Institute Inc. (US),
- The Sage Group Plc (UK),
- IBM Corporation (US),
- Infusionsoft (US),
- Verint Systems Inc. (US),
- SugarCRM (US),
IMS Health (US), NICE Ltd. (Israel), NetSuite Inc. (US), and ZOHO Corporation (India) are some of the prominent players profiled in MRFR Analysis and are at the forefront, competing in the Global CRM Software Market.
Acknowledging the exponential accruals the market witnesses currently, Market Research Future (MRFR) has recently published a study report giving out the complete Market prognosis up till 2023. In its analysis, MRFR asserts that the global CRM Software market is expected to grow up to 35 Bn. by 2023 registering a CAGR of 6% during 2017-2023.
By organization size, the small and medium enterprises (SME) is predicted to dominate the market. This can be credited to easy loans provided to these companies to foster growth within the respective economies. But the penetration of automation to expedite workflows is one of the biggest drivers of this segment. Large enterprises can contribute a near-equal share to the CRM software owing to their various investments and widening client base.
By deployment, the market contains on-cloud and on-premise. The on-cloud segment is likely to gain a major share of the CRM software market owing to affordability of cloud solutions and various options of data storage. The trend of bring-your-own-devices (BYOD) and penetration of mobile phones have created niche segments such as social and mobile CRM. The segment is likely to contribute further to the market till the end of the forecast period thanks to the ever-increasing volume of virtual data.
By application, the market encompasses customer service, manufacturing, marketing, social networking, supply chain, distribution, and others. The marketing segment is likely to be the biggest application of the CRM software market till 2023. This can be attributed to the use of the software in creating an updated list of clients and maintaining the relationship with existing ones.
Verticals requiring CRM software include energy & utilities, media & entertainment, IT & telecommunication, manufacturing, healthcare, BFSI, and others. The healthcare sector is likely to bolster the market demand owing to emergence of various hospital chains and their branches in rural regions. The benefit the software provides makes it easy for patient follow-ups and attaining patient health data.
Geographically, the industrial vision market spans across North America, Asia Pacific, Europe and Rest of the World.
The North American region is considered to experience the highest market share owing to the advanced technology implemented in the industries. The Asia-Pacific region showcases a high growth rate in the market owing to the presence of major manufacturing countries such as Japan, China, South Korea, and India. On the other hand, Europe is considered as one of the prominent players in the market owing to the presence of major automotive manufacturers in this region.
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- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- Regulatory agencies
LIST OF TABLES
Table 1 Global CRM Software Market: By Region, 2017-2023
Table 2 North America CRM Software Market: By Country, 2017-2023
Table 3 Europe CRM Software Market: By Country, 2017-2023
Table 4 Asia-Pacific CRM Software Market: By Country, 2017-2023
Table 5 Middle East & Africa CRM Software Market: By Country, 2017-2023
Table 6 Latin America CRM Software Market: By Country, 2017-2023
LIST OF FIGURES
FIGURE 1 Global CRM Software Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global CRM Software Market
FIGURE 4 Value Chain of Global CRM Software Market
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