CRM Software Market Growth Trajectory Through 2024-2033

The CRM Software Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s CRM Software Global Market Report 2024, The crm software market size has grown rapidly in recent years. It will grow from $142.72 billion in 2023 to $163.36 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to emergence of digital era, customer-centric business approach, sales and marketing automation needs, rise of e-commerce, globalization and market expansio.

The crm software market size is expected to see rapid growth in the next few years. It will grow to $281.21 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to ai and predictive analytics integration, cloud-based solutions growth, mobile-centric crm, emphasis on customer experience (cx), iot integration. Major trends in the forecast period include hyper-personalization, customer journey mapping, omnichannel integration, data quality and governance, social crm evolution.

Increasing number of customers of the organizations and the rising need for customer satisfaction are expected to benefit the customer relationship management software market in the forecast period. Organizations should offer customized services to customers, gain better knowledge of their purchasing habits and other details, develop cross-selling opportunities, and create competitive differentiators to retain existing customers and to attract new customers. These drive the demand for the use of CRM software in organizations to understand their customers in a better way and to maintain a good relationship with them. For example, Apollo Hospitals has implemented custom designed CRM software of Veon Consulting which resulted in high user adoption, 27% cut in the timeline of the review process, efficient handling of patient visits and outcome which saved manual efforts by 42%, and effective reporting and dashboards which reduced number of travels by 50%.

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The crm software market covered in this report is segmented –

1) By Deployment: Cloud CRM, On-Premise CRM
2) By Size of Enterprise: Small&Mid sized enterprises, Large enterprises
3) By Application: Sales, Marketing, Manufacturing, Customer service, Social networking, Supply chain, Distribution, Other Applications

Social and Mobile CRM are increasingly integrating social media channels into CRM platforms to offer to its full capabilities on every smart device by having a real-time access at any place or time. This integration helps to achieve greater productivity, better customer experience, and access to more relevant information. Advertisers have embraced social media platforms to associate and share with customers for improving products and perceptions. These also help businesses to manage customer grievances, requests, and inquiries. More number of users can access the data using social and mobile CRM. For example, Wells Fargo has implemented social CRM to engage with the customers and improve their availability. Wells Fargo also uses CRM to solve customer queries.

The crm software market report table of contents includes:

1. Executive Summary
2.CRM Software Market Characteristics
3.CRM Software Market Trends And Strategies
4.CRM Software Market analysis
5.CRM Software Market Size And Growth
6.CRM Software Segmentation
7.CRM Software Regional And Country Analysis
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27.CRM Software Competitive Landscape And Company Profiles
28.CRM Software Key Mergers And Acquisitions
29. CRM Software Future Outlook and Potential Analysis

TOP MAJOR PLAYERS:

• Microsoft Corporation
• Huawei Technologies Co. Ltd.
• Oracle Corporation
• SAP SE
• Salesforce.com Inc.

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