Customer Relationship Management Market Size, Share, Growth Analysis, By Solutions(Social Monitoring & Social Listening, Social Mapping, Social Middleware, Social Management), By Deployment Types(Hosted, On-Premises, Hybrid), By Application(Customer Service and Support, Marketing, Sales, Other Applications (Innovations), By End-Users(By Verticals (Automotive, Transportation and Logistics, BFSI, Consumer Goods and Retail), By Region - Industry Forecast 2024-2031

Customer Relationship Management Market Drivers

Technological Integrations across business domains to drive market growth

• The integration of developing technologies and increased advancement across business domains for the improvement of operations and on-time delivery to the customers is expected to drive the growth of the global customer relationship management market during the forecast period. 
• Additionally, several companies are planning to implement business strategies, current market trend, and consumer behavior with the help of CRM systems to expand their geographical presence. According to a survey by PWC Experience Center, about half of the organizations globally stated that digital transformation is enhancing better customer experience and feedbacks.

Customer Relationship Management Market Restraint

Data Leakage and Cyber threats to restrain the market growth

• Increasing threats with the security over CRM stored data is likely to be the major restraining factor for the market over the forecast period. CRM software stores a large quantity off personal and confidential data for both consumers and businesses. 
• It carriers some critical information also such as credit card information, health data, and financial information. The safety and security for such data is a major challenge for the companies which may hinder the growth of the market in near future.