CRM Software Market Research Report: by Organization Size (SMEs, Large Enterprises), Deployment (Cloud, On Premise), Application (Manufacturing, Customer Service, Social Networking, Supply Chain, and Distribution) and Vertical – Forecast till 2023
Pune, India - July 12, 2018 /MarketersMedia/ —
Market Highlights:
The global CRM software market is anticipated to tread forward at a steady pace during the forecast period of 2017-2023. In the recent years, the business world has observed many advancements. Major players in this industry are on the lookout for better technologies that aid them to develop their business. This is one of the major factors that work in the favor of the global market for CRM software.
Customer relationship management software is an essential business software that has helped enterprises across the globe to interact with their customers a lot more efficiently. It can perform a number of important tasks like handling customer data, maintaining an amicable client-business relationship and storing sensitive business data. This software also has a part in streamlining the sales processes of organizations. On the whole, this software can enhance the productivity and effectiveness of any given commercial set-up.
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At present, the commercial sector is on an upward trend and it is open to accept any new innovative technology that boosts its growth. Owing to this it is believed that the global CRM software market will grow by leaps and bounds in the forthcoming years. The proposed CAGR for the prediction period of 2017-2023 is 6%.
The upsurge in the ratio of internet users and increased social computing can be termed as the major growth boosters for this market. Additionally, as this software is becoming widespread in the finance and banking sector conversion rates are expected to rise.
Furthermore, the increased demand for computer assisted services amongst small and medium businesses is expected to impact the market positively. And lastly social CRM and mobile CRM is gaining a lot of recognition, even this fact will fuel the market’s growth.
According ro MRFR, The global CRM Software Market is expected to grow at a CAGR of approximately 6% during the forecast period 2017-2023.
Latest Updates:
February 27, 2018: Just recently Imagineer Technology Group, a renowned player in the investor relations and fund marketing software industry declared a probable alliance with Synap Software Labs a company that provides cloud based investment research & account management applications. Their merger is believed to be a great news for the CRM software industry as both these giants will work together towards the betterment of the market.
Market Players & Growth Strategies
Some of the prominent players in the global CRM software market are Salesforce.com (U.S.), SAP AG (Germany), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Adobe Systems Inc. (U.S.), Amdocs (U.S.), Convergys Corporation (U.S.), Huawei Technologies Co. Ltd (China), Infor Global Solutions, Inc. (U.S.), SAS Institute Inc. (U.S.), SYNNEX Corporation (U.S.), The Sage Group Plc (U.K), Verint Systems Inc. (U.S.), IBM Corporation (U.S.), SugarCRM (U.S.), NICE Ltd. (Israel), IMS Health (U.S.), NetSuite Inc. (U.S.), ZOHO Corporation (India) and Infusionsoft (U.S.).
Segmentation:
The global CRM software market is segmented on the basis of organization size, deployment, application and vertical. The application segment is further classified into sales, marketing, manufacturing, customer service, social networking, supply chain, distribution and others. The sales and marketing sub segment are expected to show significant growth owing to the increasing focus on customer engagement in the application. However, the difficulty of migrating data from existing CRM solutions to cloud based CRM modules could be one factor that could cause hindrance in the growth of global CRM software market. Also, other complexities associated with data transfer may hamper the market growth.
Regional Analysis
The global CRM software market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period. The growth of market in North America is attributed to technological advancements and increased adoption of cloud based technologies across various industry verticals.
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Intended Audience
• Technology Investors
• Research/Consultancy firms
• Technology Solution Providers
• Government Bodies
• Regulatory agencies
• Corporate
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Contact Info:
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Organization: Market Research Future
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Source: MarketersMedia
Release ID: 376280
