CRM Market Value to Grow by USD 42.41 bn | Increasing Adoption of CRM by SMEs to Drive Growth | Technavio

Some of the primary growth drivers for the CRM market are the increasing adoption of CRM by SMEs, increasing adoption of cloud-based offerings, and focus on customer engagement, according to Technavio. However, factors such as data security concerns may challenge the market growth.

Market Segmentation Analysis

• The CRM market has been segmented by application into CRM customer service and support software, CRM sales software, CRM marketing software, and CRM e-commerce software.
• Similarly, the market has been segmented by deployment into SaaS and on-premise.
• The SaaS segment has experienced significant market share growth.

Regional Analysis

• Based on geography, the CRM market has been segmented into five regions, namely North America, Europe, APAC, South America, and MEA.
• 55% of the growth will originate from North America during the forecast period.
• The US is the key country for the CRM Market in North America.
• The increasing adoption of cloud-based offerings will drive the CRM market growth in North America during the forecast period.

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Notes:

• The CRM market size is expected to accelerate at a CAGR of 10.16% during the forecast period.
• The CRM market is segmented deployment (SaaS and on-premise), application (CRM customer service and support software, CRM sales software, CRM marketing software, and CRM e-commerce software), and geography (North America, Europe, APAC, South America, and MEA).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including Adobe Inc., Aurea Corp., HubSpot Inc., International Business Machines Corp., Microsoft Corp., Oracle Corp., Sage Group Plc, Salesforce.com Inc., SAP SE, and Zoho Corp. Pvt. Ltd.

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SOURCE Technavio