Global CRM Software Market Share Report 2024, Forecast To 2033
25 Sep, 2024
The CRM software market has grown rapidly, increasing from $142.72 billion in 2023 to $163.36 billion in 2024, reflecting a compound annual growth rate (CAGR) of 14.5%. This historical growth is attributed to the rise of the digital era, a customer-centric business approach, the need for sales and marketing automation, the growth of e-commerce, and globalization. Looking ahead, the market is expected to continue its rapid growth, reaching $281.21 billion by 2028 with a CAGR of 14.5%. This future growth is driven by the integration of AI and predictive analytics, the expansion of cloud-based solutions, mobile-centric CRM approaches, an emphasis on customer experience (CX), and IoT integration. Major trends for the forecast period include hyper-personalization, customer journey mapping, omnichannel integration, data quality and governance, and the evolution of social CRM.
Major Driver In The CRM Software Market
The customer relationship management (CRM) software market is expected to thrive, fueled by a growing customer base and the imperative for enhanced customer satisfaction. Organizations recognize the importance of offering tailored services, gaining insights into customer purchasing behaviors, creating cross-selling opportunities, and establishing competitive differentiators. The adoption of CRM software becomes essential for organizations aiming to comprehend their customers better and maintain strong relationships. Notably, Apollo Hospitals' implementation of customized CRM software by Veon Consulting resulted in remarkable outcomes, including a 27% reduction in the review process timeline, a 42% saving in manual efforts for patient visits, and a 50% reduction in travel through effective reporting and dashboards. This underlines the instrumental role of CRM software in fostering customer relationships, with market sizes for 2023, 2024, and 2028 influencing the market's evolution.
Request A Free Sample Of The Global CRM Software Market ReportCRM Software Market Competitive Landscape
Microsoft Corporation, Huawei Technologies Co. Ltd., 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, Hotjar Ltd., Agile CRM Inc., Insightly Inc., Apptivo Inc., Nimble Inc., Salesboom.com Inc., Dapulse Ltd., InfoFlo Solutions Inc., Method CRM, PipelineDeals Inc., Really Simple Systems Ltd.
CRM Software Market Segmentation
The crm software market covered in this report is segmented –
1) By Deployment: Cloud CRM, On-Premise CRM
2) By Size of Enterprise: Small&Mid sized enterprises, Large enterprises
3) By Application: Sales, Marketing, Manufacturing, Customer service, Social networking, Supply chain, Distribution, Other Applications
By Geography:The regions covered in the crm software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the customer relationship management (CRM) software market in 2023.
The CRM Software Global Market Report 2024 furnishes information about the global crm software market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.