Global CRM Software Market Research Report Forecast: (2022-2027)

By End User (Healthcare, E-commerce and Retail, BFSI, IT and Telecom, Government, Others (Media, Energy and Utility, Transportation, etc.)), By Enterprise Size (Small and Medium Scale Enterprise, Larg... ... ale Enterprise, Large Scale Enterprise, By Application (Salesforce Automation, Customer Service, Marketing Automation, Social Media Monitoring, Others (Lead Generation, Integration, etc.)), By Deployment Model (Cloud, On premise, Hybrid), By Region (North America, South America, Europe, Middle East and Africa, Asia-Pacific), By Company (Aurea Software, Inc., Infor, Inc, Microsoft Corporation, Oracle, Salesforce, Pegasystems, SAP, SAGE Group, Sugar Customer Relationship Management (CRM), Zoho Corporation, HubSpot, NetSuite, IBM Corporation, Copper Customer Relationship Management (CRM), Inc., Adobe System Inc.) Read more

  • ICT & Electronics
  • Mar 2022
  • 205
  • PDF, Excel, PPT

Market Definition

Digital transformation is the new norm globally. Organizations are now optimizing & automating the processes associated with customer management to provide unique & seamless customer experiences. Hence, the relevance of Customer Relationship Management (CRM) software is growing manifold. Not just restricted to customer services, the CRM software is now being adopted increasingly by organizations to map sales & business development activities on a real-time basis. The data-driven insights provided by CRM software facilitate quick decision-making while helping organizations identify key opportunistic areas in terms of geographical expansion, strengthening or product portfolio, developing customized solutions for customers, etc.

Market Insights

The Global Customer Relationship Management (CRM) Software Market is projected to grow at a CAGR of around 14.8% during the forecast period, i.e., 2022-27. The global market has observed noticeable growth during 2017-20, owing to growing efforts towards automation of marketing & sales activities and reducing the overall cost of delivering services like complaint management, customer helpdesk, and other service requests.

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR (2022-2027) 14.8%
Regions Covered North America: USA, Canada, Mexico
South America: Brazil, Argentina, Rest of South America
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, Japan, India, South Korea, Rest of Asia Pacific
Middle East & Africa: GCC, Africa, Rest of Middle East and Africa
Key Companies Profiled Aurea Software, Inc,. Infor, Inc, Microsoft Corporation, Oracle, Salesforce, Pegasystems, SAP, SAGE Group Sugar Customer Relationship Management (CRM), Zoho Corporation, HubSpot, NetSuite, IBM Corporation, Copper Customer Relationship Management (CRM), Inc. ,Adobe System Inc.
Unit Denominations USD Million/Billion

 

As a result, organizations are focused highly on adopting CRM software equipped with AI capabilities. Moreover, the introduction of flexible pricing models, such as spot pricing, volume-based, value-based, etc., are also contributing to the rapid adoption of CRM among small & medium enterprises (SMEs).

The introduction of voice-based CRM tools is gaining tremendous traction across North America & Europe. A PEW survey cited that around 45% of the US population were using voice assistants in 2021, i.e., an increase of nearly 3% over the previous year. Hence, voice assistants in CRM software are being increasingly adopted by companies in insurance, e-commerce, financial services, etc., in the US to provide enhanced customer experiences.

Moreover, the integration of immersive reality, i.e., augmented & virtual reality, into CRM solutions has also gained immense popularity across the BFSI sector in Asia-Pacific & Europe. Hence, these strategic developments are likely to boost the penetration of CRM software and drive the global market during the forecast period.

Key Trends in the Market

  • Rising Use of Social CRM Solutions

Social CRMs for customer communication is the key emerging trend in the Global CRM Software Market. It lets an organization monitor and benchmark its social media communications using various tools, dashboards, and metrics. Hence, organizations leverage the social data of customers to provide them with personalized products. In addition, these tools also help organizations develop data-driven marketing campaigns, simultaneously measuring their success using social media analytics and building better relationships with customers. ITeS, BFSI, and e-commerce are the prominent sectors found to be the front runners in this area, followed by healthcare, hospitality & tourism, and education in 2022.

  • According to Hootsuite, around 70% of banks & financial organizations leveraged social media CRM tools to survive the Covid-19 pandemic by ensuring an improved relationship with customers during 2020-21. 
  • Putnam Investments survey revealed 74% of the financial advisors used social media CRM solutions to ensure better client connect. Around 94% of these financial advisors gained new business opportunities from their clients in 2021. 

Covid-19 Impact on the Global Customer Relationship Management (CRM) Software Market

In 2020, the demand for CRM software significantly surged across BFSI, e-Commerce, & Healthcare sectors worldwide. It was primarily due to the increased consumer awareness about virtual healthcare systems and digitalization of banking & financial activities on account of the Covid-19 pandemic, which, in turn, boosted the Global CRM Software Market amidst the crisis. The enforcement of social distancing norms amidst the crisis led to the less physical interaction of patients with physicians, which surged the adoption of tools for remote patient monitoring. Hence, with the introduction of features like appointment scheduling, remote communication, etc., in CRM solutions, the global market witnessed significant growth opportunities across the healthcare sector amidst the pandemic.

  1. Introduction
    1. Research Process
    2. Assumption
    3. Market Segmentation
    4. Market Definition
  2. Executive Summary
  3. Global Customer Relationship Management (CRM) Software Market Start Up Ecosystem
    1. Entrepreneurial Activity
    2. Year on Year Funding Received
    3. Funding Received by Top Companies
    4. Key Investors Active in the Market
    5. Series Wise Funding Received
      1. Seed Funding
      2. Angel Investing
      3. Venture Capitalists (VC) Funding
      4. Others
  4. Impact of COVID-19 on Global Customer Relationship Management (CRM) Software Market
  5. Global Customer Relationship Management (CRM) Software Market Trends & Insights
  6. Global Customer Relationship Management (CRM) Software Market Dynamics
    1. Growth Drivers
    2. Challenges
  7. Global Customer Relationship Management (CRM) Software Market Hotspot and Opportunities
  8. Global Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
    1. Market Size and Analysis
      1. By Revenues (USD Billion)
    2. Market Share and Analysis
      1. By End User
        1. Healthcare
        2. E-commerce and Retail
        3. BFSI
        4. IT and Telecom
        5. Government
        6. Others (Media, Energy and Utility, Transportation, etc.)
      2. By Enterprise Size
        1. Small and Medium Scale Enterprise
        2. Large Scale Enterprise
      3. By Application
        1. Salesforce Automation
        2. Customer Service
        3. Marketing Automation
        4. Social Media Monitoring
        5. Others (Lead Generation, Integration, etc.)
      4. By Deployment Model
        1. Cloud
        2. On premise
        3. Hybrid
      5. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East and Africa
        5. Asia-Pacific
      6. By Company
        1. Competition Characteristics
        2. Revenue Shares
        3. Competitor Placement in MarkNtel Quadrant
  9. North America Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
    1. Market Size and Analysis
      1. By Revenues
    2. Market Share and Analysis
      1. By End User
      2. By Enterprise Size
      3. By Application
      4. By Deployment Model
      5. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
    4. Canada Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
    5. Mexico Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
  10. South America Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
    1. Market Size and Analysis
      1. By Revenues
    2. Market Share and Analysis
      1. By End User
      2. By Enterprise Size
      3. By Application
      4. By Deployment Model
      5. By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    3. Brazil Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
    4. Argentina Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
  11. Europe Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
    1. Market Size and Analysis
      1.  By Revenues
    2. Market Share and Analysis
      1.  By End User
      2.  By Enterprise Size
      3.  By Application
      4.  By Deployment Model
      5.  By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    3. Germany Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1.  By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
    4. The UK Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
    5. France Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
    6. Italy Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
    7. Spain Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
  12. Middle East and Africa Customer Relationship Management (CRM) Software Market Outlook, 2017 – 2027
    1. Market Size and Analysis
      1. By Revenues
    2. Market Share and Analysis
      1.  By End User
      2.  By Enterprise Size
      3.  By Application
      4.  By Deployment Model
      5.  By Country
        1. GCC
        2. Africa
        3. Rest of Middle East and Africa
    3. GCC Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
    4. Africa Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
    5. Rest of Middle East and Africa Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
  13. Asia-Pacific Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
    1. Market Size and Analysis
      1.  By Revenues
    2. Market Share and Analysis
      1.  By End User
      2.  By Enterprise Size
      3.  By Application
      4.  By Deployment Model
      5.  By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Rest of Asia Pacific
    3. China Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1.  By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
    4. Japan Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
    5. India Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
    6. South Korea Customer Relationship Management (CRM) Software Market Outlook, 2017- 2027
      1. Market Size and Analysis
        1. By Revenues
      2. Market Share and Analysis
        1. By End User
        2. By Deployment Model
  14. Global Customer Relationship Management (CRM) Software Market Key Strategic Imperatives for Success and Growth
  15. Competitive Outlook
    1. Competition Matrix
      1. Application Portfolio
      2. Brand Specialization
      3. Target Markets
      4. Target Applications
      5. Research & Development
      6. Strategic Alliances
      7. Strategic Initiatives
    2. Company Profiles (Business Description, Application Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Aurea Software, Inc.
      2. Infor, Inc
      3. Microsoft Corporation
      4. Oracle
      5. Salesforce
      6. Pegasystems
      7. SAP
      8. SAGE Group
      9. Sugar Customer Relationship Management (CRM)
      10. Zoho Corporation
      11. HubSpot
      12. NetSuite
      13. IBM Corporation
      14. Copper Customer Relationship Management (CRM), Inc.
      15. Adobe System Inc.
  16. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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