The global customer relationship management market size is
expected to reach USD 81.9 billion by 2025, according to a new report by Grand
View Research, Inc. The ability of CRM suites to carry out business with ease
is driving the demand for the CRM solution across both big and small companies.
Customer relationship management solutions
have managed to exhibit an impressive adoption and growth rate in the last of
couple of years despite over 20 years of market presence. This growth trend is
expected to continue in the coming years as well owing to numerous benefits of
CRM suites, including operational efficiency, reduced cost of marketing, and
the ability to complete sales cycle ‘on the go’. These solutions have boosted
the efficiency of the sales teams by reducing the sales cycle time.
Additionally, they have also assisted in increasing revenues while
simultaneously making the process of acquiring and retaining customers easier.
One of the most interesting trends observed in
the CRM marketplace is the spectacular rise of cloud deployed solutions. While
this technology has been in the industry for quite some time, its widespread
adoption by small and large businesses was unforeseen. The rise in social CRM
and mobility has also been driving the growth of a new genre of customer
services and relationship management.
Though the big data and analytics technology
has various industrial applications, it has found significant usage in the CRM
marketplace. With predictive analysis and customer intelligence gaining
traction in the industry, it can be said with certainty that CRM and analytics
integration is here to stay. Sales and marketing have been benefiting from
these technological advancements alongside customer services, IT, and finance
departments gaining equally from access to CRM databases.
The industry is expected to continue its
growth stride with dynamic trends, technological proliferation, and innovations
over the better part of next decade. As such, the mid-market companies will
play a role in changing the product functionalities and their portfolios, which
would shape the overall market in the coming years.
Browse full research report on Customer
Relationship Management Market:
https://www.grandviewresearch.com/industry-analysis/customer-relationship-management-crm-market
Further key
findings from the report suggest:
- The industry is marked by the presence of big
enterprises including Salesforce.com, Microsoft, SAP, Oracle, and Adobe.
- While business-to-business companies are at
the forefront of customer relationship management suite adoption,
business-to-consumer companies maintain an upper hand in terms of usage.
- CRM solutions are finding new business avenues
including local governments, non-profit organizations, and education
sector.
- Connected devices will play a vital role in
the changing industry as the demand for mobile applications as the major
deployment option is increasing.
- The professional services sector is expected
to embrace the solutions available in the customer relationship management
market to a great extent as the application scope of these solutions is in
line with the services sector.
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/customer-relationship-management-crm-market/request/rs1
Grand
View Research has segmented the global customer relationship management market on
the basis of deployment, enterprise size, application, and region:
Customer
Relationship Management Deployment Outlook (Revenue, USD Million; 2014 - 2025)
- On-premise
- Cloud
Customer
Relationship Management Enterprise Size Outlook (Revenue, USD Million; 2014 -
2025)
- Large Enterprises
- Small and Medium
Businesses
Customer
Relationship Management Application Outlook (Revenue, USD Million; 2014 - 2025)
- BFSI
- Retail
- Healthcare
- Telecom and IT
- Discrete
Manufacturing
- Government &
Education
- Others
Customer
Relationship Management Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East &
Africa (MEA)
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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