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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.
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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.
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