What Has Been the Growth Trajectory of the CRM Software Market?
The crm software market has seen considerable growth due to a variety of factors.
• In previous years, the CRM software market has expanded at a swift pace. Forecasts predict an increase from $254.89 billion in 2024 to $298.61 billion in 2025, boasting a compound annual growth rate (CAGR) of 17.2%.
Factors contributing to its expansion throughout the historical period include the advent of the digital age, a business strategy focused on the customer, the necessity for sales and marketing automation, the rise of e-commerce, and globalisation alongside market growth.
What is the Forecasted Market Size and CAGR for the CRM Software Market?
The crm software market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, it is anticipated that the CRM software market will experience a substantial acceleration in its expansion. With an estimated value of $561.17 billion by 2029 and a compound annual growth rate (CAGR) of 17.1%, this growth can be credited to 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. Key trends to watch out for during this forecasted period include hyper-personalization, mapping of customer journeys, integration across multiple channels, data governance and quality, and the progression of social CRM.
Which Key Drivers Are Propelling Th CRM Software Market's Growth?
The projected growth of the customer relationship management software market is set to benefit from the expanding customer bases of companies coupled with the increasing necessity for customer satisfaction. Contemporary organisations must provide bespoke services to its customers, attain a comprehensive understanding of their shopping habits and other particulars, build opportunities for cross-selling, and establish unique competitors to keep current customers and entice new ones. All these factors spur the need for CRM software in these organizations, enabling them to comprehend their customers more proficiently and sustain favourable relationships with them. To illustrate, Apollo Hospitals got a custom CRM software from Veon Consulting, resulting in widespread user adoption, a 27% reduction in the review process timeline, efficient management of patient visits that saved 42% of manual work, and efficient reporting and dashboards that led to a 50% decrease in travel.
What are the Market 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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What Trends are Shaping the CRM Software Market?
The integration of social media channels into CRM platforms, particularly those compatible with mobile devices, is a growing trend, allowing for real-time access to full CRM capabilities on any smart device, anytime, anywhere. This has led to enhancements in productivity, the customer experience, and access to pertinent information. Brands are leveraging these platforms to connect and exchange ideas with their customers, enhancing their products and public perception in the process. Social and mobile CRM also allows businesses to handle customer issues, requests, and queries more effectively, while also enabling more users to access the data. An example of this is Wells Fargo, who have adopted social CRM to strengthen their engagement with customers and boost their service availability. Wells Fargo also utilises CRM to address customer questions.
Who Are the Key Players 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.
What are the Regional Insights into the CRM Software Market?
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.
