The Europe cloud Customer Relationship Management (CRM) market size is expected to grow from USD 9.0 billion in 2019 to USD 12.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 5.86%
NEW YORK, May 22, 2019 /PRNewswire/ -- The strict government compliance and the rise in digitalization are major factors expected to drive the growth of the Europe cloud CRM market.
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The Europe cloud Customer Relationship Management (CRM) market size is expected to grow from USD 9.0 billion in 2019 to USD 12.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 5.86% during the forecast period. Governments of several countries in Europe have implemented strict compliances for data privacy, many CRM solutions help companies adhere to the data privacy compliances.
Among nonprofit sub-verticals, the education sub-vertical to account for the highest market share during the forecast period
Several education institutes in Europe run nonprofit business and CRM is one of the critical factors while running the nonprofit education business.Microsoft has donated USD 1 billion to deliver Microsoft Cloud Services for NPOs and researchers in universities worldwide.
Various Microsoft Cloud Services would be provided to around 70,000 NPOs across the globe. CRM Online is one of these services, which would help NPOs manage correspondences with donors and beneficiaries.
Among nonprofit sub-verticals, the children and youth sub-vertical to grow at highest CAGR during the forecast period.
The children and youth sub-vertical is expected to grow at the highest CAGR during the forecast period.Several NPOs that are focused on the welfare of children and youth are expected to grow in the future.
The youth population in various countries is more accustomed to the digital communication media as compared to the earlier generation, hence NPOs working in the area of children and youth are expected to go for the CRM software to manage customer relationships.
Among countries, Switzerland to grow at the highest CAGR during the forecast period
Switzerland is expected to hold the highest CAGR among all regions, due to the strict data privacy compliances in the country.In Switzerland, NPOs are mandated to evaluate and publish their activities in annual reports and conduct related research to serve the society effectively.
The requirements of effective monitoring, and research and precise evaluation of activities can be achieved with the use of a cloud CRM solution. The adoption of CRM solutions would enable NPOs to collaborate effectively with donors and beneficiaries, and better manage and maintain meaningful data and insights.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the Europe cloud CRM market.
The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 – 45%, Tier 2 – 33%, and Tier 3 – 22%
• By Designation: C-Level – 52% and Director Level – 29%, Others – 19%
• By Region: UK-34%, Germany- 22%, France – 16%, Rest of Europe – 28%
The key vendors profiled in the report are as follows:
Research Coverage
The Europe cloud CRM market has been segmented based on by vertical (nonprofit and higher education), nonprofit (education, research and innovation, social affairs, children and youth, art and culture, and others), and country (UK, Germany, France, and Switzerland). A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews, services, and competitive landscape associated with the Europe cloud CRM market.
Reasons to Buy the Report
The report would help the market leaders/new entrants in the following ways:
• It comprehensively segments the Europe cloud CRM market and provides the closest approximations of the revenue numbers for the overall market and its sub segments across regions.
• It would help stakeholders understand the pulse of the market and provide information about the key market drivers, restraints, challenges, and opportunities.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes the competitor ecosystem, new service developments, partnerships, and acquisitions.
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