DUBLIN, April 27, 2023 /PRNewswire/ -- The "Customer Relationship Management (CRM) Software: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Customer Relationship Management (CRM) Software Market to Reach $181.9 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Customer Relationship Management (CRM) Software estimated at US$72.7 Billion in the year 2022, is projected to reach a revised size of US$181.9 Billion by 2030, growing at a CAGR of 12.1% over the analysis period 2022-2030.
SMEs, one of the segments analyzed in the report, is projected to record 15.3% CAGR and reach US$92.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Large Enterprises segment is readjusted to a revised 9.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $35.8 Billion, While China is Forecast to Grow at 17.2% CAGR
The Customer Relationship Management (CRM) Software market in the U.S. is estimated at US$35.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$18.8 Billion by the year 2030 trailing a CAGR of 17.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.9% and 10.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10.6% CAGR.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet.
Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.
Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers.
Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- 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 digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
MARKET OVERVIEW
- 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 Landscape
- Customer Relationship Management (CRM) Software - Global Key Competitors Percentage Market Share in 2022 (E)
- CRM Marketing Software Market Breakdown of Revenues by Leading Vendors for 2022 (E)
- CRM Sales Software Market Breakdown of Revenues by Leading Vendors for 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- An Introduction to Customer Relationship Management (CRM)
- Evolution of CRM
- Types of CRM
- Deployment Options in CRM
- On-Premise CRM
- Software-as-a-Service (SaaS) CRM
- Benefits of CRM Strategy
- Disadvantages of CRM Implementations
- CRM Application in Select End-Use Sectors
- CRM Ecosystem
- 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
- World Brands
- Recent Market Activity
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
- Data Integration
- Integration of IoT Devices Benefitting the CRM
- Blockchain: Potential to Enhance Transparency & Security
- Hyper Individualization
- 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
- Usability
- AI and Machine Learning Poised to Transform CRM Software Marketspace
- AI Adoption Presents Opportunities to Reduce Costs: Cost Savings through AI Adoption in CRM
- 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
- Email Marketing Emerges as a Preferred Marketing Tool
- 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
- 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
FOCUS ON SELECT PLAYERS (Total 428 Featured)
- Acoustic, L.P.
- Adobe Systems Incorporated
- Concentrix Corporation
- Huawei Technologies Co., Ltd.
- HubSpot, Inc.
- Infor Global Solutions, Inc.
- Microsoft Corporation
- NICE Ltd.
- Oracle Corporation
- Pegasystems Inc.
- Salesforce.com, Inc.
- SAP SE
- SAS Institute Inc.
- SugarCRM Inc.
- The Sage Group Plc
- Verint Systems, Inc.
- Zendesk, Inc.
- Zoho Corporation Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/s8cdoo
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
Share this article