CRM Software
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How Large Will the CRM Software Market Size By 2025?
The value of the CRM software market has escalated quickly in the last few years. It’s anticipated to increase from $254.89 billion in 2024 to $298.61 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 17.2%. Factors contributing to this growth during the historic period include the advent of the digital age, a shift towards a customer-focused business strategy, the requirement for sales and marketing automation, the proliferation of e-commerce, globalization, and market expansion.
How Big Is the CRM Software Market Size Expected to Grow by 2029?
In the coming years, a swift expansion is anticipated for the CRM software market, with projections placing its size at $561.17 billion in 2029. This represents a compound annual growth rate (CAGR) of 17.1%. Factors such as the incorporation of AI and predictive analytics, the rise of cloud-based solutions, mobile-oriented CRM, focus on customer experience (CX), and IoT integration are known to drive this growth during the forecast period. Furthermore, prominent trends expected within this period revolve around hyper-personalization, mapping of customer journeys, integration across multiple channels, data quality and governance, and the progression of social CRM.
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Which Key Market Drivers Powering CRM Software Market Expansion and Growth?
The anticipated surge in the CRM software sector is expected to be propelled by the expanding client base of numerous organizations and the growing emphasis on ensuring customer satisfaction. It is vital for organizations to provide personalized services to clients, have a thorough understanding of their buying behaviors, create cross-selling opportunities, and establish competitive differentiators. These factors all contribute to the increasing demand for CRM software, providing organizations with deeper insights into their clients and enabling them to cultivate more effective relationships. For instance, Apollo Hospitals adopted a custom-made CRM software by Veon Consulting. This adoption yielded impressive results such as high user engagement, a 27% reduction in review process time, enhanced handling of patient visits resulting in 42% saved manual efforts, and efficient reporting and dashboards, thereby reducing travel frequency by half.
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Which Fast-Growing Trends Are Poised to Disrupt the CRM Software Market?
Integrating social media channels into CRM platforms is becoming more prevalent with the rise of Social and Mobile CRM, which enable full capabilities on any intelligent device, granting real-time access regardless of location or time. This amalgamation boosts productivity, enhances customer experience and provides access to pertinent information. Brands have adopted social media platforms as a conduit for engaging with customers to refine products and perceptions. Additionally, these integrations aid enterprises in handling customer complaints, requests and questions. An increased user base can tap into the data with the help of social and mobile CRM. For instance, Wells Fargo has employed social CRM to increase interactions with customers and augment their accessibility. Wells Fargo also leverages CRM to address customer issues.
What Are the Emerging Segments in the CRM Software Market?
The CRM software market covered in this report is segmented –
1) By Deployment: Cloud CRM, On-Premise CRM
2) By Size of Enterprise: Small And Mid sized enterprises, Large enterprises
3) By Application: Sales, marketing, Manufacturing, Customer service, Social networking, Supply chain, Distribution, Other Applications
Subsegments:
1) By Cloud CRM: Saas-Based CRM (Software As A Service), Hybrid Cloud CRM, Multi-tenant Cloud CRM, Public Cloud CRM, Private Cloud CRM
2) By On-Premise CRM: Self-Hosted CRM Solutions, On-Premise With Customization, Single-Tenant On-Premise CRM
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Who Are the Global Leaders in the CRM Software Market?
Major companies operating in the CRM software market include Microsoft Corporation, Oracle Corporation, SAP SE, Salesforce.com Inc., Adobe Inc., The Sage Group plc, NICE Systems Ltd., Genesys Telecommunications Laboratories Inc., HubSpot Inc., Zendesk Inc., Pegasystems Inc., Zoho Corporation, Verint Systems Inc., Freshworks Inc., Swiftpage ACT LLC, Pipedrive Inc., Creatio Ltd., SugarCRM Inc., Keap Co., Maximizer CRM Inc., vCita Company, Agile CRM Inc., Insightly Inc., Apptivo Inc., Nimble Inc., Salesboom.com Inc., InfoFlo Solutions Inc., Method CRM, PipelineDeals Inc., Really Simple Systems Ltd.
Which are the Top Profitable Regional Markets for the CRM Software Industry?
Asia-Pacific was the largest region in the customer relationship management (CRM) software market in 2024. North America was the second largest region of the global customer relationship management (CRM) software market. The regions covered in the CRM software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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