Global CRM Market Growth Analysis: Focus on Customer Engagement, Integration of Analytics and Growing Demand for Social Interaction
The blog post has been updated with the inclusion of the "Global CRM Market 2023-2027" report, which is now available on ResearchAndMarkets.com.
According to forecasts, the Customer Relationship Management (CRM) industry is estimated to experience a significant expansion of $54.4 billion from 2022 to 2027, marking a Compound Annual Growth Rate (CAGR) of 10.16% throughout this timeline.
The expansion of the CRM industry can be credited to various factors, which include:
The growing implementation of CRM among SMEs (Small and Medium-sized Enterprises).
Growing usage of cloud-based customer relationship management (CRM) solutions.
Putting emphasis on interacting with and involving customers.
The incorporation of Artificial Intelligence (AI) into CRM, which is recognized as a major catalyst for market expansion in the upcoming years.
Incorporating analytics into Customer Relationship Management (CRM) system.
Increasing need for social engagement.
The report provides an in-depth analysis of the CRM industry, addressing the following areas:
Estimating and predicting the market's magnitude from 2022 to 2027.
Current patterns, factors contributing to expansion, and obstacles influencing the customer relationship management sector.
Analysis of vendors, presenting information about approximately 25 top vendors in the CRM market.
Dividing the market into different categories depending on its purpose (CRM for serving and assisting customers, CRM for sales purposes, CRM for marketing activities, and CRM software specifically designed for E-commerce), the way it is implemented (through Software-as-a-Service or traditional On-premise deployment), and its geographical focus (North America, Europe, Asia Pacific, South America, Middle East, and Africa).
The article contains a detailed examination of important CRM market suppliers. Several prominent suppliers highlighted in the article include:
Huawei Technologies Company Limited
Vtiger Systems India Private Limited
Zoho Corporation, a private limited company.
The survey also incorporates an analysis of how the CRM market has grown over the years from 2017 to 2021, offering valuable knowledge about its previous patterns. Moreover, the survey shares an assessment of the industry using the five forces model, evaluating essential factors like the influence of customers and vendors, the potential arrival of new players and alternatives, and the level of competition.
The customer relationship management (CRM) industry is divided into five major regions:
The region encompassing the countries in the elevated middle, as well as those in the African continent
The report presents market size and projections for every geographical area, accompanied by a contrast of the diverse regions.
The main objective of the "Global CRM Market 2023-2027" report is to support businesses in enhancing their market standing by offering valuable information about the CRM sector. It includes a comprehensive assessment of vendors, analysis of emerging trends, and identification of potential obstacles that might impact the growth of the market.
For further details regarding this report, please visit the following link: https://www.researchandmarkets.com/r/5lbzat
ResearchAndMarkets.com is the foremost provider of global market research reports and market data. We offer you the most up-to-date information on global and local markets, major industries, leading companies, emerging products, and the most recent patterns.
