IMARC Group, a leading market research company, has recently releases report titled “Customer Relationship Management (CRM) Market Report by Component (Software, Services), Deployment Mode (On-premises, Cloud-based), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Application (Customer Service, Customer Experience Management, CRM Analytics, Marketing Automation, Salesforce Automation, and Others), Industry Vertical (BFSI, Retail, Healthcare, IT and Telecom, Discrete Manufacturing, Government and Education, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the customer relationship management market report.
How Big is the Customer Relationship Management Market?
The global customer relationship management (CRM) market size reached US$ 63.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 151.5 Billion by 2032, exhibiting a growth rate (CAGR) of 9.9% during 2024-2032.
Industry Overview of Customer Relationship Management
Customer relationship management (CRM) refers to a holistic strategy that involves the collection, analysis, and utilization of customer data to improve customer satisfaction, loyalty, and the profitability of a company. It encompasses processes, software, and technologies that help businesses streamline and enhance their interactions with existing and potential customers. It also includes sales automation, marketing automation, and customer service automation. It emphasizes communication and collaboration between different departments within an organization to ensure a unified approach to customer interactions. It helps businesses deliver personalized experiences by understanding customer preferences and needs, leading to higher customer satisfaction and loyalty.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/customer-relationship-management-market/requestsample
What are the growth prospects and trends in the customer relationship management industry?
At present, the increasing demand for CRM to streamline sales and marketing processes, enabling companies to target the right customers with the right messages at the right time, represents one of the crucial factors impelling the growth of the market.
Besides this, the rising integration of artificial intelligence (AI) and machine learning (ML) into CRM platforms is contributing to the growth of the market. In addition, the growing integration of CRM systems with robust data encryption, access controls, and compliance features is offering a favorable market outlook.
Apart from this, the increasing availability of CRM systems equipped with social listening tools that help businesses monitor and respond to customer sentiment is propelling the growth of the market.
Leading Companies Operating in the Global Customer Relationship Management Industry:
- Insightly Inc.
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Pegasystems Inc.
- Ramco Systems Limited (The Ramco Cements Limited)
- Sage Group plc
- Salesforce Inc.
- SAP SE
- SugarCRM Inc.
- Zoho Corporation Private Limited
Customer Relationship Management Market Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Component:
- Software
- Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Application:
- Customer Service
- Customer Experience Management
- CRM Analytics
- Marketing Automation
- Salesforce Automation
- Others
Breakup by Industry Vertical:
- BFSI
- Retail
- Healthcare
- IT and Telecom
- Discrete Manufacturing
- Government and Education
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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