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Global Customer Relationship Management (CRM) Market to Grow at a CAGR of 14.75% Over the Forecast Period of 2020-2025.

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"According to a new report by EMR titled, ‘Global Customer Relationship Management (CRM) Market Report and Forecast 2020-2025’, the global customer relationship management (CRM) market stood at a value of around USD 55.31 billion in 2019. The industry is further expected to witness a healthy growth, displaying a CAGR of 14.75% in the forecast period of 2020-2025 to attain USD 63.47 billion by 2025."

North America leads the global customer relationship management (CRM) market, accounting for nearly half of the global share and is followed by Europe. Within North America, the US serves as a significant region contributing to the market growth. On the other hand, the Asia Pacific and Latin America are the emerging markets in the industry. In the Asia Pacific, the increased focus on SaaS, mobile CRM, and analytics are driving the high market growth in the region. The customer support and service dominates the market among other revenue distribution segments, accounting for nearly 36% of the global market share.

Due to the increasing popularity of cloud-based technology, the manufacturers are rapidly adopting it in the customer relationship management (CRM) industry to enhance the customer experience. Salesforce.com (SFDC) (NYSE: CRM), a key player in the global customer relationship management industry, is emphasising on the SaaS model, a category of cloud computing, seeing its high growth opportunity in almost all regional markets. In November 2019, Salesforce.com, Inc. announced the integration of Amazon Connect with its latest innovation, that is, Salesforce Service Cloud Voice, thus, expanding its strategic partnership with Amazon Web Services, Inc., an Amazon.com company (NASDAQ: AMZN), to deliver personalised and frictionless service to its customers. Such developments with the rising technological advancement are expected to aid the market over the forecast period.

Market Breakup by Revenue Distribution and Regions:

  • Based on revenue distribution, the industry can be categorised into customer support and service, marketing, e-commerce, and sales.
  • Region-wise, the global customer relationship management (CRM) market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing demand for convenient, efficient, and time-saving services is driving the growth of the global customer relationship management (CRM) market.
  • With the growing technological developments, including the introduction of artificial intelligence (AI) in customer relationship management services, the industry is witnessing a further growth. 
  • The rising disposable incomes and increasing smartphone and internet penetration, particularly in emerging economies, are providing further impetus to the market.   
  • The rising demand for cloud-based CRM technology, owing to better customer experience and increased consumer awareness, is further propelling the market forward.

Key Offerings of the Report:

  • The EMR report gives an overview of the global customer relationship management market for the periods (2015-2019) and (2020-2025).
  • The report also offers historical (2015-2019) and forecast (2020-2025) information for the regional markets of customer relationship management.
  • It also provides an assessment of the industry based on the Porter’s Five Forces model along with a SWOT and value chain analysis.

The major players in the global customer relationship management market are Salesforce.com, Inc., Microsoft Corp., Oracle Corporation, SAP, Pegasystems Inc., and Infor. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

EMR is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At EMR, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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"Global Customer Relationship Management Market: By Revenue Distribution: Customer Support & Service, Marketing, E-Commerce, Sales; By Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); SWOT Analysis; Procurement Strategy; Cost Analysis; Competitive Landscape & Supplier Analysis; Events and Developments"

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