How Has the Banking Customer Relationship Management (CRM) Software Market Evolved Historically and What is its Current Size?
The banking customer relationship management (crm) software market has seen considerable growth due to a variety of factors.
• The banking customer relationship management (CRM) software market has grown rapidly in recent years. It will grow from $15.4 billion in 2024 to $18.14 billion in 2025, at a CAGR of 17.8%.
Growth drivers include increasing demand for self-service banking, the need for automated customer insights software, the rise of cloud solutions, funding for R&D, and a focus on improving customer service.
What is the Forecasted Market Size and CAGR for the Banking Customer Relationship Management (CRM) Software Market?
The banking customer relationship management (crm) software market is expected to maintain its strong growth trajectory in upcoming years.
• The banking customer relationship management (CRM) software market is projected to grow to $34.48 billion by 2029 with a CAGR of 17.4%.
This growth is driven by rising demand from small and medium-sized businesses, increased competition in the CRM software industry, digital banking growth, and mobile banking adoption. Trends include technology development, AI and machine learning integration, advanced analytics, business intelligence tools, and blockchain adoption.
What Key Factors and Trends Are Driving The Growth Banking Customer Relationship Management (CRM) Software Market?
The growth of online banking services is expected to accelerate the demand for banking customer relationship management (CRM) software. Online banking allows customers to manage finances easily and securely. As online banking becomes more popular due to its convenience and security, CRM software helps banks enhance customer service and operational efficiency by managing customer interactions across digital platforms. For instance, Worldmetrics reported that online banking transactions are expected to reach $161.6 billion by 2028, up from $9.8 billion in 2024. Hence, the growth of online banking services is propelling the CRM software market.
What Are The Market Segments In The Banking Customer Relationship Management (CRM) Software Market?
The banking customer relationship management (CRM) software market covered in this report is segmented –
1) By Offering: Solution, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Application: Customer Service, Customer Experience Management, Customer Relationship Management (CRM) Analytics, Marketing Automation, Salesforce Automation, Other Applications
Subsegments:
1) By Solution: Cloud-Based CRM Solutions, On-Premise CRM Solutions, Mobile CRM Solutions, Integrated CRM Solutions With Core Banking Systems, AI-Driven CRM Solutions, Data Analytics And Reporting Solutions For CRM
2) By Services: Implementation Services, Integration Services, Training And Consulting Services, Support And Maintenance Services, Customization And Configuration Services, Managed Services For CRM Systems
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How Are Emerging Trends Reshaping The Dynamics Of The Banking Customer Relationship Management (CRM) Software Market?
Major companies in the banking CRM software market are leveraging AI to improve transaction dispute management. AI-driven solutions can automate dispute resolution by detecting patterns and anomalies in transaction data, improving efficiency and accuracy. For example, Salesforce, a U.S.-based cloud computing company, launched AI-powered transaction dispute management tools in June 2024, which integrate banking transaction data with customer information to simplify the dispute resolution process.
Who Are the Key Players In The Banking Customer Relationship Management (CRM) Software Market?
Major companies operating in the banking customer relationship management (CRM) software market are:
• Microsoft Corporation
• Oracle Corporation
• Salesforce Inc.
• Fiserv Inc.
• Infor Global Solutions
• Sage Group
• Genesys Cloud Services Inc.
• HubSpot Inc.
• Zoho Corporation
• Pegasystems Inc.
• Temenos AG
• Acidaes Solutions Private Limited (CRMNEXT)
• Creatio
• SAP SE
• Doxim Inc.
• SugarCRM Inc.
• Kapture CX
• NexJ Systems Inc.
• Leadsquared Inc.
• Claritysoft LLC
• Liferay Inc.
What Are The Regional Insights Into The Banking Customer Relationship Management (CRM) Software Market?
North America was the largest region in the banking customer relationship management (CRM) software market in 2023. The regions covered in the banking customer relationship management (CRM) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
