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Global Customer Relationship Management Market: By Revenue Distribution: Customer Support and Service, Marketing, E-Commerce, Sales; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Industry Events and Developments

Global Customer Relationship Management (CRM) Market Outlook

The global customer relationship management (CRM) market attained a value of USD 55.31 billion in 2020. The market is expected to grow at an estimated CAGR of 14.75% in the forecast period of 2022-2027. By 2021, the CRM market is projected to attain USD 63.47 billion

 

Customer Relationship Management Market

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North America is the largest regional market for customer relationship management (CRM), accounting for nearly half the market share. The United States is a significant CRM market in this region. BFSI and retail are among the significant end-users, supporting the market growth. North America has some of the well-known international vendors and is capable of delivering regional CRM demands. The North America CRM market is followed by Europe, which accounted for over a quarter of the market share in 2020. Manufacturing and retail are the largest end-users of the software in Europe, propelling the overall market growth. The Asia Pacific and Latin America are the other emerging markets for CRM. These regions are shifting their focus on SaaS, Mobile CRM, and analytics.

The customer support and service is the largest revenue distribution segment within the market, accounting for nearly 36% of the total revenue distribution. It is followed by sales, marketing, and e-commerce. The growth potential for the CRM market is quite healthy. Regions like North America, Europe, and the Middle East, and Africa, among others, have a high growth potential for SaaS-based CRM. Integration with social CRM is also expected to witness high growth in the coming years globally.

Salesforce.com (SFDC) (NYSE: CRM) was the leading key player in the CRM industry in 2018. The main reason behind Salesforce's success and leadership position is its total emphasis on the SaaS model, which has a high growth opportunity in almost all regional markets. It was one of the first players in the industry to cross USD 5 billion in its sales of CRM software. Service Cloud accounts for nearly half the company’s total sales revenue. SAP follows Salesforce.com as the other leading player in the industry. The growth of the company in the industry is being aided by its extensive investment into R&D undertakings.

 

Market Segmentation

Customer relationship management (CRM) refers to processes and systems used by companies to monitor and evaluate customer interactions. CRM can strengthen customer relationships, help maintain customers, and drive sales growth. CRM can incorporate customer data from different sources, such as the company's website, email, live chat, direct mail, and social media, which can provide accurate customer information, purchase history, buying preferences, and customer challenges.

 

Customer Relationship Management Market by revenue distribution

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On the basis of revenue distribution, the market can be divided into:

  • Customer Support and Service
  • Marketing
  • E-Commerce
  • Sales

The EMR report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Customer Relationship Management Market by Region

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Market Analysis

The introduction and development of artificial intelligence (AI) for customer relationship management (CRM) is driving the market further. The growth in Big Data, the introduction of the SaaS delivery model, and advances in machine learning and analytics have made AI inevitable in the transformation of CRM. The purpose of AI in CRM is to reduce physical work, to develop an automated system, to reconfigure interfaces focused on customer/business usage patterns. Key applications of AI in CRM include virtual customer support, predictive marketing analytics, workflow automation, customer engagement, social media tracking, and sentimental analysis. The transition from enterprise to Cloud-based CRM technology has increased significantly, and CRM powered by Cloud is projected to grow more in the coming years.

The growing demand for better customer experience is driving the market for customer relationship management (CRM). Due to the increased use of digital channels, such as social networks and mobile devices, consumers expect a quick response to their questions and concerns with no delay. CRM delivers services to assist and stay connected with its customers by deploying efficient contact centre management, answering their requests, and increasing customer loyalty.

 

Competitive Landscape

November 2020- Salesforce.com, Inc. announced the expansion of its strategic partnership with Amazon Web Services, Inc., an Amazon.com company (NASDAQ: AMZN), as part of which Salesforce will integrate Amazon Connect with its Salesforce Service Cloud Voice.

The report gives a detailed analysis of the following key players in the global customer relationship management (CRM) market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Salesforce.com, Inc.
  • Microsoft Corp.
  • Oracle Corporation
  • SAP
  • Pegasystems Inc.
  • Infor

The comprehensive EMR report provides an in-depth assessment of the industry based on Porter’s five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Revenue Distribution, Region
Breakup by Revenue Distribution Customer Support & Service, Marketing, E-Commerce, Sales
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Salesforce.com, inc., Microsoft Corp., Oracle Corporation, SAP, Pegasystems Inc., Infor
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Customer Relationship Management Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Customer Relationship Management Historical Market (2017-2021) 
    8.3    Global Customer Relationship Management Market Forecast (2022-2027)
    8.4    Global Customer Relationship Management Market by Revenue Distribution
        8.4.1    Customer Support and Service
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Marketing
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    E-Commerce
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
        8.4.4    Sales
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2017-2021)
            8.4.4.3    Forecast Trend (2022-2027)
    8.5    Global Customer Relationship Management Market by Region
        8.5.1    Market Share
            8.5.1.1    North America
            8.5.1.2    Europe
            8.5.1.3    Asia Pacific
            8.5.1.4    Latin America
            8.5.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Microsoft Corp.
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Oracle Corporation
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    SAP SE
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Pegasystems Inc.
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Salesforce.com, Inc.
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6     Infor
            11.2.6.1    Company Overview
            11.2.6.2    Product Portfolio
            11.2.6.3    Demographic Reach and Achievements
            11.2.6.4    Certifications
12    Industry Events and Developments


List of Key Figures and Tables

1.    Global Customer Relationship Management Market: Key Industry Highlights, 2017 and 2027
2.    Global Customer Relationship Management Historical Market: Breakup by Revenue Distribution (USD Million), 2017-2021
3.    Global Customer Relationship Management Market Forecast: Breakup by Revenue Distribution (USD Million), 2022-2027
4.    Global Customer Relationship Management Historical Market: Breakup by Region (USD Million), 2017-2021
5.    Global Customer Relationship Management Market Forecast: Breakup by Region (USD Million), 2022-2027
6.    North America Customer Relationship Management Historical Market: Breakup by Country (USD Million), 2017-2021
7.    North America Customer Relationship Management Market Forecast: Breakup by Country (USD Million), 2022-2027
8.    Europe Customer Relationship Management Historical Market: Breakup by Country (USD Million), 2017-2021
9.    Europe Customer Relationship Management Market Forecast: Breakup by Country (USD Million), 2022-2027
10.    Asia Pacific Customer Relationship Management Historical Market: Breakup by Country (USD Million), 2017-2021
11.    Asia Pacific Customer Relationship Management Market Forecast: Breakup by Country (USD Million), 2022-2027
12.    Latin America Customer Relationship Management Historical Market: Breakup by Country (USD Million), 2017-2021
13.    Latin America Customer Relationship Management Market Forecast: Breakup by Country (USD Million), 2022-2027
14.    Middle East and Africa Customer Relationship Management Historical Market: Breakup by Country (USD Million), 2017-2021
15.    Middle East and Africa Customer Relationship Management Market Forecast: Breakup by Country (USD Million), 2022-2027
16.    Global Customer Relationship Management Market Structure

Key Questions Answered in the Report

In 2020, the global customer relationship management (CRM) market attained a value of nearly USD 55.31 billion.

The market is projected to grow at a CAGR of 14.75% between 2022 and 2027.

The major drivers of the market include the growing demand for better customer experience, increase in adoption of CRM software among enterprises, increasing use of emerging technologies, rapid digital transformation across businesses, strong economic growth, growing demand for efficient customer retention and engagement solutions, and ongoing modernisation.

The integration of artificial intelligence (AI) and the transition from enterprise to cloud-based CRM technology are the key industry trends propelling the market growth.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

On the basis of revenue distribution, the market can be divided into customer support and service, marketing, e-commerce, and sales.

The major players in the industry are Microsoft Corp., Oracle Corporation, SAP SE, Pegasystems Inc., Salesforce.com, Inc., and Infor.

Analyst Review

The global customer relationship management market attained a value of nearly USD 55.31 billion in 2020, driven by the increased integration of artificial intelligence (AI). Aided by the growing demand for improved customer engagement solutions and the rapid transition from enterprise to cloud-based CRM technology, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 14.75%.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of revenue distribution, the market can be divided into customer support and service, marketing, e-commerce, and sales. The major regional markets for customer relationship management are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The major players in the industry are Microsoft Corp., Oracle Corporation, SAP SE, Pegasystems Inc., Salesforce.com, Inc., and Infor.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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