Global Customer Relationship Management Market

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

Report ID: SQMIG45F2121 | Region: Global | Published Date: October, 2024
Pages: 157 | Tables: 118 | Figures: 77

Customer Relationship Management Market News

  • In August 2022, SugarCRM Inc., a leading provider for AI-driven CRM platform and ResPax, a major tour reservation system provider, announced a strategic partnership to offer the first and fully integrated CRM and tour booking platform for the travel and tourism sector.
  • In July 2022, SAP SE, Germany announced the acquisition of Askdata, a startup mainly focused on the search-driven analytics. With this acquisition, SAP will strengthen their ability to help customers to take better informed decisions through artificial intelligence driven natural language searches.
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Global Customer Relationship Management Market size was valued at USD 60.20 billion in 2022 and is poised to grow from USD 68.63 billion in 2023 to USD 195.77 billion by 2031, growing at a CAGR of 14.00% during the forecast period (2024-2031).

The global customer relationship management market is fairly fragmented with the presence of well-known and established market players such as Microsoft Corporation, IBM Corporation, and Adobe Systems, Inc. Major players of the global market are mainly focusing on innovations, new product launches, acquisition & mergers, and increasing investments as key strategies in order to increase their market position and expand their product portfolio. 'Acquia (US) ', ' ', ' ', ' ', 'Amdocs (Israel) ', 'Nimble (US) ', 'Pegasystems (US) ', 'Ramco Systems (India) ', 'SAGE (UK) ', 'ITC Infotech (India) ', 'HubSpot, Inc. (US) ', 'Zoho Corporation (India) ', 'Freshworks Inc. (India) ', 'Copper (US) ', 'Monday.com (Israel) ', 'Bitrix24 (Russia) ', 'Creatio (US) ', 'Oracle CX Cloud (US) ', 'Close.io (US) ', 'Salesforce Essentials (US) ', 'Pipeliner CRM (Austria) ', 'Vtiger (India) ', 'Capsule CRM (UK) ', 'Caspio (US)'

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. 

Implementation of AI: Increasing implementation of artificial intelligence across the globe coupled with the rising need for integrating AI with customer relationship management systems to improve the overall customer experience. 

Globally, North America held the largest global Customer Relationship Management market share and accounted for more than 49.3% of the overall market in 2022. Increasing adoption of customer relationship management solutions and advancement in technologies are the key driving factors of the market in the region. Moreover, an extensive rise in the digital transformation in various sectors including banking, retail, and healthcare, is projected to propel the market growth over the forecast period.

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Global Customer Relationship Management Market

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