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

  • ID: 2707969
  • Report
  • March 2022
  • Region: Global
  • 1296 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Acoustic, L.P.
  • HubSpot, Inc.
  • NICE Ltd.
  • Pegasystems Inc.
  • SAP SE
  • SugarCRM Inc.

Global Customer Relationship Management (CRM) Software Market to Reach US$123.8 Billion by the Year 2027


Amid the COVID-19 crisis, the global market for Customer Relationship Management (CRM) Software estimated at US$55.3 Billion in the year 2020, is projected to reach a revised size of US$123.8 Billion by 2027, growing at a CAGR of 12.2% over the period 2020-2027. SMEs, one of the segments analyzed in the report, is projected to grow at a 15.8% CAGR to reach US$58 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Large Enterprises segment is readjusted to a revised 9.6% CAGR for the next 7-year period. This segment currently accounts for a 62.5% share of the global Customer Relationship Management (CRM) Software market.



The U.S. Accounts for Over 49.6% of Global Market Size in 2020, While China is Forecast to Grow at a 17.2% CAGR for the Period of 2020-2027


The Customer Relationship Management (CRM) Software market in the U.S. is estimated at US$27.4 Billion in the year 2020. The country currently accounts for a 49.63% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$11.3 Billion in the year 2027 trailing a CAGR of 17.2% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.2% and 11.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.8% CAGR while Rest of European market (as defined in the study) will reach US$11.3 Billion by the year 2027.

Select Competitors (Total 428 Featured) -

  • Acoustic, L.P.
  • Adobe Systems Incorporated
  • Concentrix Corporation
  • Huawei Technologies Co., Ltd.
  • HubSpot, Inc.
  • Infor Global Solutions, Inc.
  • Microsoft Corporation
  • NICE Ltd.
  • Oracle Corporation
  • Pegasystems Inc.
  • Salesforce.com, Inc.
  • SAP SE
  • SAS Institute Inc.
  • SugarCRM Inc.
  • The Sage Group Plc
  • Verint Systems, Inc.
  • Zendesk, Inc.
  • Zoho Corporation Pvt. Ltd.

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the publisher's digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Customer Relationship Management (CRM) Software

What is the estimated value of the Global Market for Customer Relationship Management (CRM) Software?

The Global Market for Customer Relationship Management (CRM) Software was estimated to be valued at $55.3 Billion in 2020.

What is the growth rate of the Global Market for Customer Relationship Management (CRM) Software?

The growth rate of the Global Market for Customer Relationship Management (CRM) Software is 12.2%, with an estimated value of $123.8 Billion by 2027.

What is the forecasted size of the Global Market for Customer Relationship Management (CRM) Software?

The Global Market for Customer Relationship Management (CRM) Software is estimated to be worth $123.8 Billion by 2027.

Who are the key companies in the Global Market for Customer Relationship Management (CRM) Software?

Key companies in the Global Market for Customer Relationship Management (CRM) Software include Adobe Inc., AMDOCS Ltd., Huawei Technologies Co., Ltd., IBM Corporation, Infor, Microsoft Corporation, NetSuite, Inc., NICE Ltd. and Salesforce.com, Inc..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Acoustic, L.P.
  • HubSpot, Inc.
  • NICE Ltd.
  • Pegasystems Inc.
  • SAP SE
  • SugarCRM Inc.

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 Pandemic and Looming Global Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed?
  • EXHIBIT 1: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Pandemic-Led Changes in Business Operations Necessitate Optimization of CRM Solutions
  • CRM Helps Businesses Manage the COVID-19 Crisis
  • CRM Remains an Important Tool for Businesses During the COVID-19 Pandemic
  • Competitive Landscape
  • EXHIBIT 2: Customer Relationship Management (CRM) Software - Global Key Competitors Percentage Market Share in 2022 (E)
  • EXHIBIT 3: CRM Marketing Software Market Breakdown of Revenues by Leading Vendors for 2022 (E)
  • EXHIBIT 4: CRM Sales Software Market Breakdown of Revenues by Leading Vendors for 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for 74 Players Worldwide in 2022 (E)
  • An Introduction to Customer Relationship Management (CRM)
  • Evolution of CRM
  • Types of 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
  • World Brands
  • Recent Market Activity

2. FOCUS ON SELECT PLAYERS

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
  • Smarter CRM Based on AI
  • CRM with Conversational UI and Voice Recognition
  • Advancements in Process Automation
  • Data Integration
  • Integration of IoT Devices Benefitting the CRM
  • Blockchain: Potential to Enhance Transparency & Security
  • Hyper Individualization
  • Ongoing Expansion of the CRM Platform Market
  • Social CRM Continues to Witness Growth
  • Enhanced Mobility for CRM Software
  • CRM to Gain a Thorough Understanding of Customer Behavior
  • Connecting Every Business Aspect to CRM
  • Every Team Relying on CRM Tools
  • Growing Role of CRM in Customer Experience
  • Emergence of Channel-less CRM
  • Self-Service CRM is Expected to Become a Norm
  • CRM for Freelancers and Solo Entrepreneurs
  • Sophisticated CRM can Prevent Tech Stack Fatigue
  • CRM Automates Business Workflows
  • Usability
  • AI and Machine Learning Poised to Transform CRM Software Marketspace
  • EXHIBIT 5: AI Adoption Presents Opportunities to Reduce Costs: Cost Savings through AI Adoption in CRM in the US for 2017, 2019 and 2021
  • AI Integration with CRM Presents Opportunities
  • 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
  • EXHIBIT 6: Social Media Penetration Worldwide: % of Active Users Compared to Total Population for 2022E
  • EXHIBIT 7: 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
  • EXHIBIT 8: Worldwide Shipments of Smartphones, Tablets, and Laptops (in Million Units) for the Years 2019, 2021 and 2023
  • EXHIBIT 9: Adoption Rate of Smartphones as a % of Total Population: 2016-2021
  • EXHIBIT 10: Global Number of Mobile Subscribers (In Billion) for Years 2018 Through 2023
  • Customer Service and Support Continues to Lead the Global CRM Software Market
  • Rising Importance of CRM in Enhancing Customer Experience
  • EXHIBIT 11: Customer Reaction to Poor Customer Experience: % Breakdown of Customers by Type of Reaction to Negative Experience
  • Marketing: The High Growth Application Market for CRM Software
  • EXHIBIT 12: 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
  • EXHIBIT 13: Global B2C E-Commerce Sales in US$ Trillion for the Years 2019, 2020, 2021, 2022, 2023, 2024, and 2025
  • EXHIBIT 14: Retail M-Commerce Sales as % of Retail E-commerce Sales Worldwide for the Years 2016, 2018, 2020 & 2022
  • 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

UNITED STATES

  • Customer Relationship Management (CRM) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in United States for 2022 (E)
  • Market Overview
  • 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

  • Market Overview
  • Market Analytics

EUROPE

  • Customer Relationship Management (CRM) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Analytics

FRANCE


GERMANY


ITALY


UNITED KINGDOM


SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Customer Relationship Management (CRM) Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Overview
  • Market Analytics

AUSTRALIA

INDIA

  • Market Overview
  • EXHIBIT 15: Indian CRM Software Market Breakdown by Leading Solutions for 2021
  • Market Analytics

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: 428
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Acoustic, L.P.
  • Adobe Systems Incorporated
  • Concentrix Corporation
  • Huawei Technologies Co., Ltd.
  • HubSpot, Inc.
  • Infor Global Solutions, Inc.
  • Microsoft Corporation
  • NICE Ltd.
  • Oracle Corporation
  • Pegasystems Inc.
  • Salesforce.com, Inc.
  • SAP SE
  • SAS Institute Inc.
  • SugarCRM Inc.
  • The Sage Group Plc
  • Verint Systems, Inc.
  • Zendesk, Inc.
  • Zoho Corporation Pvt. Ltd.
Note: Product cover images may vary from those shown