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Customer Relationship Management (CRM) Software - Global Market Trajectory & Analytics

  • ID: 2707969
  • Report
  • September 2020
  • Region: Global
  • 658 Pages
  • Global Industry Analysts, Inc
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FEATURED COMPANIES

  • Accenture Plc
  • Breezz
  • Hubspot, Inc.
  • Oracle Corporation
  • Sas Institute, Inc.
  • Veeva Systems, Inc.
  • MORE
The global market for Customer Relationship Management (CRM) Software is projected to reach US$89.9 billion by 2025, driven by the importance of maintaining and creating relationships with customers in running successful businesses. Benefits of well implemented CRM include better customer relationships, increased customer loyalty, happy customers are always willing to pay a price premium for superior product experience; customer retention as loyal customers spend over 70% more than new customers; lower customer churn rate; successful brand building and equity; enhanced ability for up-selling and cross-selling; improved revenues, profitability and corporate bottomline. Additionally, in the current competitive market scenario, customer loyalty is hard to gain since competition and rapid commoditization of products and services make switching to other companies easy. This makes CRM even more important in understanding buyer behavior, expectations, and purchase process so as to be able to align the product`s value proposition to the buyers` need. It is important for businesses to align CRM with sales, marketing and customer service (feedback and support) departments. CRM software draws information from myriad departments in a company to provide centralized and holistic information valuable in making quick and informed decisions that improve responsiveness of customer-facing departments.

Among the technologies poised to revolutionize CRM are IoT and blockchain. Convergence of IoT & CRM marks the beginning of the era of integrated IoT wherein enterprises increasingly tie IoT to key digital initiatives. Integrating IoT with enterprise systems, applications, processes and workflows is the foundation to drive efficiency & ROI from IoT investments. Connecting IoT devices to CRM systems can help identify performance glitches in products, setting into motion a new era of proactive customer support. Service ticket, part replacement or field service workers can be scheduled even before customers realize the glitch. For instance, IoT-enabled products can help home appliance manufacturers take proactive customer service decisions. Companies can therefore perform preventive maintenance in advance of routine maintenance which in turn will drive lifetime customer value. Also, services can be delivered promptly in case of failure to ensure that customer gets the maximum value from products purchased. Higher sales and profitability are positive fallouts when IoT data can detect customer dissatisfaction prompting companies to take timely remedial actions such as offer discounts to retain loyalty.

By enabling complete tractability of data, blockchain is also helping revolutionize CRM. The technology enables companies to secure their back-office applications and corporate data in ways hitherto unimagined. Few of the benefits of integrating CRM with blockchain include increased CRM data security; provides better understanding of demand patterns and allows for improvement in resources deployment; better management of customer experiences, an important benefits in a market environment where the only real differentiator of value is customer experience; securely validate customer engagement in rewards programs; effective management of multiple membership programs; loyalty programs can be made more usable and of value to customers; stronger relationship between companies and their customers, among others. The United States and Europe represent large markets worldwide with a combined share of 76.3% of the market. China ranks as the fastest growing market with a CAGR of 16.2% over the analysis period supported by the changing landscape of consumerism in the country and ensuing emergence of a business culture that is customer-focused.

Competitors identified in this market include, among others:
  • Adobe Inc.
  • AMDOCS Ltd.
  • Huawei Technologies Co., Ltd.
  • IBM Corporation
  • Infor
  • Microsoft Corporation
  • NetSuite, Inc.
  • NICE Ltd.
  • Oracle Corporation
  • Salesforce. com, Inc.
  • SAP SE
  • SAS Institute, Inc.
  • SugarCRM, Inc.
  • Synnex Corporaiton
  • The Sage Group Plc
  • Verint Systems, Inc.
  • Zoho Corporation Pvt., Ltd.
Note: Product cover images may vary from those shown
2 of 3

FEATURED COMPANIES

  • Accenture Plc
  • Breezz
  • Hubspot, Inc.
  • Oracle Corporation
  • Sas Institute, Inc.
  • Veeva Systems, Inc.
  • MORE
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • An Introduction to Customer Relationship Management (CRM)
  • Evolution of CRM
  • Types of CRM
  • Operational CRM
  • Collaborative CRM
  • Analytical CRM
  • Strategic CRM
  • Deployment Options in CRM
  • On-Premise CRM
  • Software-as-a-Service (SaaS) CRM
  • Benefits of CRM Strategy
  • Disadvantages of CRM Implementations
  • CRM Application in Select End-Use Sectors
  • CRM Ecosystem
  • CRM Emerges as an Effective Approach to Create and Maintain Strong Customer Relations
  • CRM Software: The Key Enabler of Efficient CRM Strategy
  • Customer-Centric Operations Drives Increased Spending on CRM Software
  • Developed Regions Lead, Developing Economies Poised for Strong Future Growth
  • Global Competitor Market Shares
  • Customer Relationship Management (CRM) Software Competitor Market Share Scenario Worldwide (in %): 2019
  • Market Share of Major Players in the Global Customer Relationship Management (CRM) Marketing Segment (in %): 2019
  • Changing Phase of CRM Competitors Landscape
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • Acoustic L.P. (USA)
  • Adobe Systems Incorporated (USA)
  • Concentrix Corporation (USA)
  • Huawei Technologies Co., Ltd. (China)
  • Infor Global Solutions, Inc. (USA)
  • Microsoft Corporation (USA)
  • NICE Ltd. (Israel)
  • Oracle Corporation (USA)
  • Pegasystems, Inc. (USA)
  • Salesforce.com, Inc. (USA)
  • SAP SE (Germany)
  • SAS Institute Inc. (USA)
  • SugarCRM (USA)
  • The Sage Group Plc (UK)
  • Verint Systems, Inc. (USA)
  • Zendesk, Inc. (USA)
  • Zoho Corporation Pvt. Ltd. (India)
3. MARKET TRENDS & DRIVERS
  • Traditional CRM Software Gives Way to New Age Software Solutions
  • CRM Trends Set to Drive Innovations in the CRM Software Market
  • Artificial Intelligence (AI)
  • Advancements in Process Automation
  • Data Integration
  • Blockchain
  • Internet of Things (IoT)
  • Hyper Individualization
  • AI and Machine Learning Poised to Transform CRM Software Marketspace
  • IoT & Blockchain, the Two Key Game Changer Technologies for CRM
  • Growing Role of Big Data in CRM
  • Social CRM: The Next Sought After Functionality in CRM Software Market
  • Social Media Penetration Worldwide: % of Active Monthly Users Compared to Total Population for 2019
  • Social Media Users Penetration (in %) by Generation
  • Mobile CRM Continues to Gain Momentum
  • Rising Adoption of Mobile Devices and Developments in Mobile Internet Fuels Take Mobile CRM Software Market
  • Smartphone Users as % of Global Population for the Period 2018-2022
  • Worldwide Shipments of Laptops and Tablet PCs (in Million Units) for the Years 2019, 2021 and 2023
  • Customer Service and Support Continues to Lead the Global CRM Software Market
  • Rising Significance of Customer Experience for Businesses: % of Businesses Prioritizing Customer Experience
  • Marketing: The High Growth Application Market for CRM Software
  • Email Marketing Emerges as a Preferred Marketing Tool: % of Companies Looking to Increase Spending on Marketing Programs
  • Cloud Technology Optimally Positioned to Deliver CRM Software On-Demand
  • Cloud-based SaaS CRM: Playing a Vital Part in Enabling Low-Cost CRM Strategy
  • CRM Technology Advancements Present Tremendous Potential to Improve Business Operations
  • Sales Force Automation Software: The Traditional Revenue Contributor
  • Rising Prominence of CRM Software for E-Commerce Businesses
  • Global B2C E-Commerce Sales in US$ Trillion for the Years 2017, 2019, 2021 and 2023
  • Global E-Commerce Market as a % of Retail Sales for the Period 2017-2023
  • Top CRM Software for E-Commerce Sector: 2018
  • CRM Software Gains Prominence in Life Sciences Sector
  • Pharmaceutical CRM: Increasing Number of Pharma Companies Drive Growth
  • Healthcare CRM Market Poised for Growth
  • SMEs: The Most Lucrative Consumer Cluster for SaaS CRM
  • CRM Outsourcing Essential for Large-Scale Client Management Needs
  • CRM Analytics Help Organizations Make Faster Decisions
  • Banking & Financial Services Enterprises Prioritize CRM Adoption
  • Insurance Agencies Seek CRM Capability for Effective Collaboration
  • Retail Sector Drives Significant Gains in the CRM Market
  • Key Issues & Challenges Confronting CRM Software Market
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
  • Mobile CRM Continues to Make Healthy Gains
  • US Real Estate Enterprises Prefer CRM
  • CRM Software Comes Handy to Treatment Centers
  • Market Analytics
CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 73
Note: Product cover images may vary from those shown
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  • Accenture Plc
  • Acoustic, L.P.
  • Acquia Inc.
  • Actis Sales Technologies
  • Adobe, Inc.
  • Agile Crm Inc.
  • Amdocs Ltd.
  • Apptivo Inc.
  • Avidian Technologies
  • Axonom Inc.
  • Bitrix, Inc.
  • Breezz
  • Chetu Inc.
  • Close
  • Commence Corporation
  • Copper, Inc.
  • Cratio Software Pvt Ltd.
  • Creatio
  • Engagebay Inc.
  • Finoit Technologies (I) Pvt Ltd.
  • Freshworks Inc.
  • Hansaworld
  • Huawei Technologies Co., Ltd.
  • Hubspot, Inc.
  • Infor
  • Insightly, Inc.
  • Instreamcrm
  • Kapture Crm
  • Keap
  • Maximizer Services Inc.
  • Microsoft Corporation
  • Nanoarch Software Solutions
  • Nice Ltd.
  • Nimble
  • Octal It Solution Llp
  • Oracle Corporation
  • Pegasystems, Inc.
  • Pipedrive
  • Pipelinedeals
  • Qsoft Llc (Amocrm)
  • Rewardly Inc. - Streak
  • Sage Group Plc, The
  • Salesboom.Com, Inc.
  • Salesforce.Com, Inc.
  • Salesmate
  • Sap Se
  • Sas Institute, Inc.
  • Smart Sight Innovations
  • Sugarcrm
  • Sutisoft Inc.
  • Swiftpage Act! Llc
  • Synergistix, Inc.
  • Synnex Corporation
  • Concentrix Corporation
  • Talisma Corporation Pvt. Ltd.
  • Thryv, Inc.
  • Trujay
  • Uservoice, Inc.
  • Vcita, Inc.
  • Veeva Systems, Inc.
  • Verint Systems, Inc.
  • Vtiger
  • Wakeupsales
  • Wipro Ltd.
  • Workbooks Online Limited
  • X2Engine Inc.
  • Yetiforce Sp. Z O.O.
  • Yonyx, Inc.
  • Zeki Software Solutions Pvt. Ltd.
  • Zendesk, Inc.
  • Zestia Limited
  • Zoho Corporation Pvt. Ltd.
Note: Product cover images may vary from those shown
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