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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
Market Report I 2024-07-01 I 139 Pages I IMARC Group
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.
Customer relationship management, or CRM, refers to various solutions and software employed by organizations to manage the external interactions and relationships with customers. It stores the customer data, identify sales opportunities, maintain a record of service issues or complaints, and manage marketing campaigns. It also assists businesses in streamlining sales, accounting, and management by providing real-time access to a centralized database, thus eliminating the need for unnecessary paperwork and speeding up communication. In recent years, CRM solutions have gained immense traction across numerous industries, including banking, financial services and insurance (BFSI), telecommunications, retail, healthcare, government, and education.
CRM (Customer Relationship Management) Market Trends:
CRM solutions help enhance customer service, build stronger brand-customer relationships, and improve customer retention and acquisition. As a result, the escalating demand for automated customer engagement for better customer experience represents the primary factor driving the market growth. Besides this, the growing usage of digital channels like social media platforms by individuals to interact with brands is augmenting the demand for CRM solutions. Additionally, enterprises are employing efficient tools to handle customer data and utilize actionable insights to make informed business decisions. Along with this, the shifting preferences from push marketing to pull marketing are propelling the market growth. Furthermore, the widespread adoption of work-from-home (WFH) policies due to the recent coronavirus disease (COVID-19) outbreak is encouraging organizations to adopt CRM solutions to interact with customers effectively in a remote-working environment. Moreover, the increasing integration of CRM software with advanced technologies, such as the Internet of Things (IoT), artificial intelligence (AI), and big data, are catalyzing the product demand. Other factors, including the growing popularity of cloud solutions, rapid digitization, and technological advancements in business intelligence, are also creating a positive market outlook.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global customer relationship management (CRM) market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, deployment mode, organization size, application and industry vertical.
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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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. and Zoho Corporation Private Limited.
Key Questions Answered in This Report
1. What was the size of the global customer relationship management (CRM) market in 2023?
2. What is the expected growth rate of the global customer relationship management (CRM) market during 2024-2032?
3. What are the key factors driving the global customer relationship management (CRM) market?
4. What has been the impact of COVID-19 on the global customer relationship management (CRM) market?
5. What is the breakup of the global customer relationship management (CRM) market based on the component?
6. What is the breakup of the global customer relationship management (CRM) market based on the deployment mode?
7. What is the breakup of the global customer relationship management (CRM) market based on the organization size?
8. What is the breakup of the global customer relationship management (CRM) market based on the application?
9. What is the breakup of the global customer relationship management (CRM) market based on the industry vertical?
10. What are the key regions in the global customer relationship management (CRM) market?
11. Who are the key players/companies in the global customer relationship management (CRM) market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Customer Relationship Management (CRM) Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
6.1 Software
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Services
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Deployment Mode
7.1 On-premises
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Cloud-based
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Organization Size
8.1 Small and Medium-sized Enterprises
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Large Enterprises
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Application
9.1 Customer Service
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Customer Experience Management
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 CRM Analytics
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Marketing Automation
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Salesforce Automation
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Others
9.6.1 Market Trends
9.6.2 Market Forecast
10 Market Breakup by Industry Vertical
10.1 BFSI
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Retail
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Healthcare
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 IT and Telecom
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Discrete Manufacturing
10.5.1 Market Trends
10.5.2 Market Forecast
10.6 Government and Education
10.6.1 Market Trends
10.6.2 Market Forecast
10.7 Others
10.7.1 Market Trends
10.7.2 Market Forecast
11 Market Breakup by Region
11.1 North America
11.1.1 United States
11.1.1.1 Market Trends
11.1.1.2 Market Forecast
11.1.2 Canada
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
11.2 Asia-Pacific
11.2.1 China
11.2.1.1 Market Trends
11.2.1.2 Market Forecast
11.2.2 Japan
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 India
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 South Korea
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Australia
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.2.6 Indonesia
11.2.6.1 Market Trends
11.2.6.2 Market Forecast
11.2.7 Others
11.2.7.1 Market Trends
11.2.7.2 Market Forecast
11.3 Europe
11.3.1 Germany
11.3.1.1 Market Trends
11.3.1.2 Market Forecast
11.3.2 France
11.3.2.1 Market Trends
11.3.2.2 Market Forecast
11.3.3 United Kingdom
11.3.3.1 Market Trends
11.3.3.2 Market Forecast
11.3.4 Italy
11.3.4.1 Market Trends
11.3.4.2 Market Forecast
11.3.5 Spain
11.3.5.1 Market Trends
11.3.5.2 Market Forecast
11.3.6 Russia
11.3.6.1 Market Trends
11.3.6.2 Market Forecast
11.3.7 Others
11.3.7.1 Market Trends
11.3.7.2 Market Forecast
11.4 Latin America
11.4.1 Brazil
11.4.1.1 Market Trends
11.4.1.2 Market Forecast
11.4.2 Mexico
11.4.2.1 Market Trends
11.4.2.2 Market Forecast
11.4.3 Others
11.4.3.1 Market Trends
11.4.3.2 Market Forecast
11.5 Middle East and Africa
11.5.1 Market Trends
11.5.2 Market Breakup by Country
11.5.3 Market Forecast
12 SWOT Analysis
12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats
13 Value Chain Analysis
14 Porters Five Forces Analysis
14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 Insightly Inc.
16.3.1.1 Company Overview
16.3.1.2 Product Portfolio
16.3.2 International Business Machines Corporation
16.3.2.1 Company Overview
16.3.2.2 Product Portfolio
16.3.2.3 Financials
16.3.2.4 SWOT Analysis
16.3.3 Microsoft Corporation
16.3.3.1 Company Overview
16.3.3.2 Product Portfolio
16.3.3.3 Financials
16.3.3.4 SWOT Analysis
16.3.4 Oracle Corporation
16.3.4.1 Company Overview
16.3.4.2 Product Portfolio
16.3.4.3 Financials
16.3.4.4 SWOT Analysis
16.3.5 Pegasystems Inc.
16.3.5.1 Company Overview
16.3.5.2 Product Portfolio
16.3.5.3 Financials
16.3.5.4 SWOT Analysis
16.3.6 Ramco Systems Limited (The Ramco Cements Limited)
16.3.6.1 Company Overview
16.3.6.2 Product Portfolio
16.3.6.3 Financials
16.3.7 Sage Group plc
16.3.7.1 Company Overview
16.3.7.2 Product Portfolio
16.3.7.3 Financials
16.3.7.4 SWOT Analysis
16.3.8 Salesforce Inc.
16.3.8.1 Company Overview
16.3.8.2 Product Portfolio
16.3.8.3 Financials
16.3.8.4 SWOT Analysis
16.3.9 SAP SE
16.3.9.1 Company Overview
16.3.9.2 Product Portfolio
16.3.9.3 Financials
16.3.9.4 SWOT Analysis
16.3.10 SugarCRM Inc.
16.3.10.1 Company Overview
16.3.10.2 Product Portfolio
16.3.11 Zoho Corporation Private Limited
16.3.11.1 Company Overview
16.3.11.2 Product Portfolio
Figure 1: Global: Customer Relationship Management Market: Major Drivers and Challenges
Figure 2: Global: Customer Relationship Management Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Customer Relationship Management Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Customer Relationship Management Market: Breakup by Component (in %), 2023
Figure 5: Global: Customer Relationship Management Market: Breakup by Deployment Mode (in %), 2023
Figure 6: Global: Customer Relationship Management Market: Breakup by Organization Size (in %), 2023
Figure 7: Global: Customer Relationship Management Market: Breakup by Application (in %), 2023
Figure 8: Global: Customer Relationship Management Market: Breakup by Industry Vertical (in %), 2023
Figure 9: Global: Customer Relationship Management Market: Breakup by Region (in %), 2023
Figure 10: Global: Customer Relationship Management (Software) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Customer Relationship Management (Software) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Customer Relationship Management (Services) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Customer Relationship Management (Services) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Customer Relationship Management (On-premises) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Customer Relationship Management (On-premises) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Customer Relationship Management (Cloud-based) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Customer Relationship Management (Cloud-based) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Customer Relationship Management (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Customer Relationship Management (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Customer Relationship Management (Large Enterprises) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Customer Relationship Management (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Customer Relationship Management (Customer Service) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Customer Relationship Management (Customer Service) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Customer Relationship Management (Customer Experience Management) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Customer Relationship Management (Customer Experience Management) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Customer Relationship Management (CRM Analytics) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Customer Relationship Management (CRM Analytics) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Customer Relationship Management (Marketing Automation) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Customer Relationship Management (Marketing Automation) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: Customer Relationship Management (Salesforce Automation) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: Customer Relationship Management (Salesforce Automation) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Global: Customer Relationship Management (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Global: Customer Relationship Management (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Global: Customer Relationship Management (BFSI) Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Global: Customer Relationship Management (BFSI) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Global: Customer Relationship Management (Retail) Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Global: Customer Relationship Management (Retail) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Global: Customer Relationship Management (Healthcare) Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Global: Customer Relationship Management (Healthcare) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: Global: Customer Relationship Management (IT and Telecom) Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: Global: Customer Relationship Management (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Global: Customer Relationship Management (Discrete Manufacturing) Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Global: Customer Relationship Management (Discrete Manufacturing) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Global: Customer Relationship Management (Government and Education) Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Global: Customer Relationship Management (Government and Education) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Global: Customer Relationship Management (Other Industry Verticals) Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Global: Customer Relationship Management (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: North America: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: North America: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: United States: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: United States: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Canada: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Canada: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Asia-Pacific: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Asia-Pacific: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: China: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: China: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Japan: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Japan: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: India: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: India: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: South Korea: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: South Korea: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Australia: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Australia: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Indonesia: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Indonesia: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Others: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Others: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Europe: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Europe: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Germany: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Germany: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: France: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: France: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 76: United Kingdom: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 77: United Kingdom: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 78: Italy: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 79: Italy: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 80: Spain: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 81: Spain: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 82: Russia: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 83: Russia: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 84: Others: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 85: Others: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 86: Latin America: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 87: Latin America: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 88: Brazil: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 89: Brazil: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 90: Mexico: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 91: Mexico: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 92: Others: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 93: Others: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 94: Middle East and Africa: Customer Relationship Management Market: Sales Value (in Million US$), 2018 & 2023
Figure 95: Middle East and Africa: Customer Relationship Management Market: Breakup by Country (in %), 2023
Figure 96: Middle East and Africa: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 97: Global: Customer Relationship Management Industry: SWOT Analysis
Figure 98: Global: Customer Relationship Management Industry: Value Chain Analysis
Figure 99: Global: Customer Relationship Management Industry: Porter's Five Forces Analysis
Table 1: Global: Customer Relationship Management Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Customer Relationship Management Market Forecast: Breakup by Component (in Million US$), 2024-2032
Table 3: Global: Customer Relationship Management Market Forecast: Breakup by Deployment Mode (in Million US$), 2024-2032
Table 4: Global: Customer Relationship Management Market Forecast: Breakup by Organization Size (in Million US$), 2024-2032
Table 5: Global: Customer Relationship Management Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 6: Global: Customer Relationship Management Market Forecast: Breakup by Industry Vertical (in Million US$), 2024-2032
Table 7: Global: Customer Relationship Management Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 8: Global: Customer Relationship Management Market: Competitive Structure
Table 9: Global: Customer Relationship Management Market: Key Players
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