CRM Software Market

Companies are seeking the availability of customer data, actionable insights on unstructured datasets, and efficient tools to handle them. The shift from push marketing to pull marketing strategy and industry-wide effort to deliver better content is expected to bolster the demand of the CRM software market over the forecast period.

The CRM Software Market is estimated to grow at a CAGR of more than 15% during the forecast period 2021-2027. 

CRM software integrates with the organization’s CRM activities to interpret their measurable responses in terms of effectiveness. Rising technological integrations with CRM software are expected to drive market growth in the near future. Hosted CRM software and integrating social media with CRM software act as a key trend that influences market growth. Moreover, the development of communication technology in the IT industry, automated customer conversations, and robotic process automation is expected to shape the future of customer relations in the market.

Segmentation Overview of the Global Customer Relationship Management (CRM) Software Market

The global CRM Software Market is segmented on the basis of Solution, Deployment, Enterprise Size, and Application. These major market segments are further categorized into various sub-segments to study the market in detail.

By Solution: 

• Customer Service
• Customer Experience Management
• CRM Analytics
• Marketing Automation
• Salesforce Automation
• Social Media Monitoring
• Others

By Deployment: 

• Cloud
• On-Premise

By Enterprise Size: 

• Small and Mid-Sized Enterprises
• Large Enterprises

By Application: 

• Sales
• Marketing
• Manufacturing
• Customer Service
• Social Networking
• Supply Chain
• Distribution
• Others

Regional Overview

Geographically, the global CRM Software Market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. As per the studies, the Asia Pacific CRM software market is anticipated to witness the highest growth over the forecast period, owing to emerging economies such as India and China with large customer base across various industry verticals.

Key Players Insights

Salesforce.com, SAP SE, Oracle Corporation, Microsoft Corporation, Adobe Systems Inc., Amdocs, Convergys Corporation, Huawei Technologies Co. Ltd, Infor Global Solutions, Inc., SAS Institute Inc., SYNNEX Corporation, NetSuite Inc., and ZOHO Corporation among others are some major players included in the research study of the global Customer Relationship Management Software Market. The market is highly competitive in nature, with a balance of start-ups and well-established companies. Companies are adopting various competitive strategies to withhold the majority of the market share in the global marketplace. For instance, in November 2019, Salesforce and Amazon Web Services, Inc. (AWS) expanded their global strategic partnership. Through this partnership, Salesforce aimed at integrating its cloud offering Service Cloud Voice with Amazon Connect, which reduces call resolution times and helps service organizations to smoothen the operations while providing superior customer service. In February 2019, Compass acquired Contractually, Inc. for an undisclosed amount; as per the agreement, Compass will be assisted by Contractually with the help of the company’s technology and workforce to boost the adoption of Compass CRM.

Research Report on the Global CRM Software Market Include:

• Economic Sectors and Share of the Customer Relationship Management Software Market
• Market Size and Forecast
• Major market segments that make up the global CRM Software Market
• Industry Structure by Segments
• Growth Prospects of Customer Relationship Management (CRM) Software Market
• Major Industrial Clusters
• Study of Market Drivers and Challenges
• Regional Opportunities and Trends
• Porter’s Five Forces analysis to determine the competitive intensity
• Financial Performance of Companies
• Organization Landscape
• Impact study of COVID-19