About CRM Software
Customer relationship management software (CRM) software is a system that helps to track business and manage interactions and relationships with both current and potential customers in a single system of record. It records interactions between a business, its prospects, and its existing customers. It provides all relevant customer data including contact details, history, and transaction summaries into a summarizing record. Basically CRM software is commonly executed in sales departments to act as the central hub for sales force automation, including contact, account, and various profits opportunity.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The Market for the CRM Software is fragmented with the Presence of Many Players. Leading Players Can Adopt Strategies Like a Merger, Acquisition, Expansion, New Product Launch, in Order to Gain Share Within the Market. Owing to Booming Industrialization & Urbanization, there are Growing Prospects for the New Players to Enter the Market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global CRM Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Salesforce (United States), IBM Corporation (United States), SAP AG (Germany), Oracle Corporation (United States), Microsoft Corporation (United States), SAS Institute Inc. (United States), Adobe Systems Inc. (United States), Amdocs (United States), Convergys Corporation (United States) and Huawei Technologies Co. Ltd (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Infor Global Solutions, Inc. (United States), SYNNEX Corporation (United States), The Sage Group Plc (United Kingdom), Verint Systems Inc. (United States) and SugarCRM (United States).
Segmentation Overview
AMA Research has segmented the market of Global CRM Software market by , Application (Customer Service Management, Social Networking, Supply Chain Management, Sales & Marketing, Manufacturing and Others) and Region.
On the basis of geography, the market of CRM Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Enterprise Size, the sub-segment i.e. Small and Medium Enterprise will boost the CRM Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. Cloud-based will boost the CRM Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Automotive will boost the CRM Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
CRM software with AI systems and Increasing Usage of Mobile CRM Software
Market Growth Drivers:
Growing Demand of CRM software in End-Use Industry such as automotive, BFSI, IT, and Others and Rising Popularity of Cloud-based Software Deployment
Challenges:
Lack of Awareness about Online CRM Software and Availability of Free CRM Software
Restraints:
Less of Skilled Professionals required in Enterprises and Security and Data Privacy Concerns
Opportunities:
Increasing Use of Hosted CRM Software in Small and Medium Enterprise than In-House CRM Software and Huge Investment Made by Enterprises for High Productivity and Efficient Operation
Market Leaders and their expansionary development strategies
In November 2019, Salesforce.com, Inc., a cloud-based software company expands its partnership with Microsoft Corporation, a multinational technology company to bring the leading CRM with Azure, a cloud computing service created by Microsoft and Teams to deliver incredible customer experiences.
Key Target Audience
CRM Software Vendors, New Entrants/Investors, Dealers, Suppliers, Traders, and Distributors, Government Regulatory and Research Organizations, End-Use Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.