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Customer Relationship Management (CRM) Market To USD 248.48 Billion By 2032 SNS Insider
(MENAFN- EIN Presswire)
Get Sample Copy of Report:
Some of Major Keyplayers:
- Salesforce (Sales Cloud, Service Cloud)
- Microsoft (Dynamics 365, Power BI)
- SAP (SAP Customer Experience, SAP Commerce Cloud)
- Oracle (Oracle CX Cloud, Oracle Service Cloud)
- Adobe (Adobe Experience Cloud, Adobe Analytics)
- HubSpot (HubSpot CRM, HubSpot Marketing Hub)
- Zoho (Zoho CRM, Zoho Desk)
- Pega (Pega Customer Service, Pega Marketing)
- SugarCRM (Sugar Sell, Sugar Serve)
- Freshworks (Freshsales, Freshdesk)
- Insightly (Insightly CRM, Insightly Marketing)
- Nimble (Nimble CRM, Nimble Social Insights)
- Creatio (Creatio CRM, Creatio Marketing)
- Copper (Copper CRM, Copper Marketing Automation)
- Monday (Monday Sales CRM, Monday Marketing)
- ServiceTitan (ServiceTitan CRM, ServiceTitan Service Management)
- Keap (Keap CRM, Keap Marketing Automation)
- Bitrix24 (Bitrix24 CRM, Bitrix24 Collaboration Tools)
- Agile CRM (Agile CRM, Agile Marketing Automation)
- Close (Close CRM, Close Calling)
By Component: Software Leads, Service Registers Fastest CAGR
The Software segment dominated the CRM market and accounted for a revenue share of more than 74.8% in 2023, owing to sufficient acceptance among enterprises towards its application in data management, sales tracking, customer engagement, and marketing automation. Software solutions are favored by businesses for their scalable capabilities, artificial intelligence-powered analytics, and prediction, enabling businesses to optimize relationships with customers.
The services segment is witnessing the fastest growth in terms of CAGR, as organizations are demanding customization, integration, and maintenance services. The growth of the market is also attributed to the rising need for consulting, support, and training services for the smooth implementation and functioning of CRM.
By Deployment: On-Cloud Leads, On-Premise Registers Fastest CAGR
The on-cloud segment dominated the market and accounted for a revenue share of more than 58.7%, due to its flexibility, remote & easy accessibility & cost economical nature. cloud-based CRM enables your business to scale efficiently, integrate with other SaaS solutions, and also access real-time customer data.
The on-premise segment is projected to be the fastest growing segment as in industries like BFSI and government sectors, enterprises are more inclined towards the security of data, regulatory compliance, and ownership of the complete system. Firms that are dealing with extremely sensitive customer data are going with on-premise CRM solutions.
By Solution: Customer Service Dominates, CRM Analytics Registers Fastest CAGR
The customer service segment dominated the market and represented a significant revenue share of more than 24.2%, owing to the growing push from businesses toward improved customer service, personalized customer engagement, and AI-driven chatbots. This marketing segment complements CRM solutions and focuses on ways to supplement customer care by automating ticketing, using AI to help support, and predicting the issues faced by customers in the first place.
The CRM analytics segment is expected to register the fastest growth rate during the forecast period, as it helps organizations to understand the customer including data-driven decision-making, sentiment analysis, and predictive customer behavior insight. The analytics are enabling companies to strengthen their customer retention efforts and targeted marketing campaigns.
By End-Use: Retail Leads, IT & Telecom Registers Fastest CAGR
The retail segment dominated the CRM market and accounted for a significant revenue share in 2023, which is influenced by the growing demand for customer experience management, promotional offers with personalized elements, and integration with e-commerce portals. Retail CRM helps to analyze customer purchase behavior, automate marketing campaigns, and enhance the efficiency of loyalty programs.
Rapid deployment of real-time customer service, automated workflows, and AI-based recommendations will drive the fastest growth in the IT & Telecom sector. Telecom companies use CRM to improve customer experience, lower churn rates, and maximize the service portfolio.
Customer Relationship Management (CRM) Market Segmentation:
By Component
- Software
- Service
By Deployment
- On-Cloud
- On-Premise
By Solution
- Customer Service
- Customer Experience Management
- CRM Analytics
- Marketing Automation
- Salesforce Automation
- Social Media Monitoring
- Others
By End Use
- BFSI
- Retail
- Healthcare
- IT & Telecom
- Discrete Manufacturing
- Government & Education
- Others
Enquiry Before Buy this Report:
Key Regional Developments: North America dominates, and Asia-Pacific is the fastest-growing region.
The North American region dominated the market and accounted for a significant revenue share of more than 44.7% in 2023 is attributed to the presence of a large pool of ERP vendors and a global customer base as major tech companies amongst a cluster of early adaptors. The market in the US and Canada is driven by businesses accessing data-informed insights and automating their sales processes using CRM.
The region with the fastest growth is Asia-Pacific, supported by the expansion of digital transformation, growing internet penetration, and the rise to the adoption of CRM software from SMEs. Cloud-based CRM solutions, AI-support chatbots, and customer data analytics are being quickly adopted by nations such as China, India, and Japan.
Recent Developments in 2024
- January 2024 – Salesforce: Launched Einstein 1 Platform, an AI-powered CRM solution designed to improve customer engagement and sales automation.
- March 2024 – HubSpot: Introduced AI-powered ChatSpot and Content Assistant to enhance personalized customer interactions.
- April 2024 – Microsoft: Upgraded Dynamics 365 CRM with advanced AI-driven analytics and automation features.
Access Complete Report:
Table of Content:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Customer Relationship Management (CRM) Market Segmentation, By Component
8. Customer Relationship Management (CRM) Market Segmentation, By Deployment
9. Customer Relationship Management (CRM) Market Segmentation, By Solution
10. Customer Relationship Management (CRM) Market Segmentation, By End Use
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
The CRM Market was USD 80.01 Bn in 2023 and is projected to reach USD 248.48 Bn by 2032, growing at a 13.45% CAGR from 2024 to 2032.
AUSTIN, TX, UNITED STATES, February 21, 2025 /EINPresswire / -- The SNS Insider report indicates that the Customer Relationship Management (CRM) Market was valued at USD 80.01 billion in 2023 and is projected to reach USD 248.48 billion by 2032, growing at a CAGR of 13.45% from 2024 to 2032. The increasing adoption of AI-powered analytics, automation, and personalized customer engagement solutions is driving the CRM market's expansion.Get Sample Copy of Report:
Some of Major Keyplayers:
- Salesforce (Sales Cloud, Service Cloud)
- Microsoft (Dynamics 365, Power BI)
- SAP (SAP Customer Experience, SAP Commerce Cloud)
- Oracle (Oracle CX Cloud, Oracle Service Cloud)
- Adobe (Adobe Experience Cloud, Adobe Analytics)
- HubSpot (HubSpot CRM, HubSpot Marketing Hub)
- Zoho (Zoho CRM, Zoho Desk)
- Pega (Pega Customer Service, Pega Marketing)
- SugarCRM (Sugar Sell, Sugar Serve)
- Freshworks (Freshsales, Freshdesk)
- Insightly (Insightly CRM, Insightly Marketing)
- Nimble (Nimble CRM, Nimble Social Insights)
- Creatio (Creatio CRM, Creatio Marketing)
- Copper (Copper CRM, Copper Marketing Automation)
- Monday (Monday Sales CRM, Monday Marketing)
- ServiceTitan (ServiceTitan CRM, ServiceTitan Service Management)
- Keap (Keap CRM, Keap Marketing Automation)
- Bitrix24 (Bitrix24 CRM, Bitrix24 Collaboration Tools)
- Agile CRM (Agile CRM, Agile Marketing Automation)
- Close (Close CRM, Close Calling)
By Component: Software Leads, Service Registers Fastest CAGR
The Software segment dominated the CRM market and accounted for a revenue share of more than 74.8% in 2023, owing to sufficient acceptance among enterprises towards its application in data management, sales tracking, customer engagement, and marketing automation. Software solutions are favored by businesses for their scalable capabilities, artificial intelligence-powered analytics, and prediction, enabling businesses to optimize relationships with customers.
The services segment is witnessing the fastest growth in terms of CAGR, as organizations are demanding customization, integration, and maintenance services. The growth of the market is also attributed to the rising need for consulting, support, and training services for the smooth implementation and functioning of CRM.
By Deployment: On-Cloud Leads, On-Premise Registers Fastest CAGR
The on-cloud segment dominated the market and accounted for a revenue share of more than 58.7%, due to its flexibility, remote & easy accessibility & cost economical nature. cloud-based CRM enables your business to scale efficiently, integrate with other SaaS solutions, and also access real-time customer data.
The on-premise segment is projected to be the fastest growing segment as in industries like BFSI and government sectors, enterprises are more inclined towards the security of data, regulatory compliance, and ownership of the complete system. Firms that are dealing with extremely sensitive customer data are going with on-premise CRM solutions.
By Solution: Customer Service Dominates, CRM Analytics Registers Fastest CAGR
The customer service segment dominated the market and represented a significant revenue share of more than 24.2%, owing to the growing push from businesses toward improved customer service, personalized customer engagement, and AI-driven chatbots. This marketing segment complements CRM solutions and focuses on ways to supplement customer care by automating ticketing, using AI to help support, and predicting the issues faced by customers in the first place.
The CRM analytics segment is expected to register the fastest growth rate during the forecast period, as it helps organizations to understand the customer including data-driven decision-making, sentiment analysis, and predictive customer behavior insight. The analytics are enabling companies to strengthen their customer retention efforts and targeted marketing campaigns.
By End-Use: Retail Leads, IT & Telecom Registers Fastest CAGR
The retail segment dominated the CRM market and accounted for a significant revenue share in 2023, which is influenced by the growing demand for customer experience management, promotional offers with personalized elements, and integration with e-commerce portals. Retail CRM helps to analyze customer purchase behavior, automate marketing campaigns, and enhance the efficiency of loyalty programs.
Rapid deployment of real-time customer service, automated workflows, and AI-based recommendations will drive the fastest growth in the IT & Telecom sector. Telecom companies use CRM to improve customer experience, lower churn rates, and maximize the service portfolio.
Customer Relationship Management (CRM) Market Segmentation:
By Component
- Software
- Service
By Deployment
- On-Cloud
- On-Premise
By Solution
- Customer Service
- Customer Experience Management
- CRM Analytics
- Marketing Automation
- Salesforce Automation
- Social Media Monitoring
- Others
By End Use
- BFSI
- Retail
- Healthcare
- IT & Telecom
- Discrete Manufacturing
- Government & Education
- Others
Enquiry Before Buy this Report:
Key Regional Developments: North America dominates, and Asia-Pacific is the fastest-growing region.
The North American region dominated the market and accounted for a significant revenue share of more than 44.7% in 2023 is attributed to the presence of a large pool of ERP vendors and a global customer base as major tech companies amongst a cluster of early adaptors. The market in the US and Canada is driven by businesses accessing data-informed insights and automating their sales processes using CRM.
The region with the fastest growth is Asia-Pacific, supported by the expansion of digital transformation, growing internet penetration, and the rise to the adoption of CRM software from SMEs. Cloud-based CRM solutions, AI-support chatbots, and customer data analytics are being quickly adopted by nations such as China, India, and Japan.
Recent Developments in 2024
- January 2024 – Salesforce: Launched Einstein 1 Platform, an AI-powered CRM solution designed to improve customer engagement and sales automation.
- March 2024 – HubSpot: Introduced AI-powered ChatSpot and Content Assistant to enhance personalized customer interactions.
- April 2024 – Microsoft: Upgraded Dynamics 365 CRM with advanced AI-driven analytics and automation features.
Access Complete Report:
Table of Content:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Customer Relationship Management (CRM) Market Segmentation, By Component
8. Customer Relationship Management (CRM) Market Segmentation, By Deployment
9. Customer Relationship Management (CRM) Market Segmentation, By Solution
10. Customer Relationship Management (CRM) Market Segmentation, By End Use
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Akash Anand
SNS Insider | Strategy and Stats
+1 415-230-0044
email us here
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