Global Customer Relationship Management Market Size, Trends, and Growth Opportunity, By Deployment (On-premises, Cloud), By Component (Software, Services), By End Use (IT, Manufacturing and Construction, BFSI, Healthcare, Consumer Goods and Retail. Education, Others), By Application (Marketing Automation, Lead Generation, Customer Retention, Customer Management, Others), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Global Customer Relationship Management Market (CRM)
The Global Customer Relationship Management Market was valued at USD 63.44 Bn in 2021 which is expected to reach USD 125.50 Bn by 2027, at a CAGR of 10.44% from 2022-2027.
Customer relationship management is a tool used to handle all the interactions and relationships between a business and its clients. CRM systems assist businesses in maintaining close contact with clients, boosting profitability, and streamlining procedures. It helps to concentrate on the relationships that a business has with a specific individual, such as service users, clients, employees, and suppliers, throughout their interactions.
The sales & marketing team can monitor and follow a customer's interaction with a company with the help of a CRM solution to improve customer journey and experience.
Market Drivers
The global customer relationship management market is driven by factors such as focusing on improving consumer satisfaction, personalization of customer service, and the increasing use of AI. The present competitive scenario requires firms to understand their customers more closely than ever before. Analysing customers’ emotional & behavioural patterns is key to uncovering strategies for brand loyalty.
AI is also aiding the growth of CRM. For instance, Salesforce planned on using generative AI to transform every customer experience with Einstein GPT. According to the company, Einstein GPT shall combine real-time data from the Salesforce Data Cloud, which unifies the entire company's customer data, with Salesforce's proprietary AI models.
Market Restraints
The primary concern in using CRM systems is data security. Customer relationship management involves collecting streams of customer data which can include sensitive data such as financial information, location, health information, etc. The amount of increasing data breaches and criminal activities involving data can pose a threat to the widespread use of CRM systems.
Not all regions are equipped with strong cyberinfrastructure to secure data. Moreover, many regions are yet to develop regulations governing the safe collection, preservation, and use of data. These factors shall slow down the growth of the market.
Market Segmentation
The global customer relationship management market is segmented by deployment modes of On-premises and Cloud, and by components of software and services.
Further, the market is segmented by end-use, such as IT, manufacturing & construction, BFSI, healthcare, consumer goods & retail, education, and others.
Regional Analysis
The Asia Pacific region is projected to record the highest growth for the CRM market due to the growing interaction of people in the APAC region with companies. With higher disposable incomes and more individuals getting connected to the internet, the region poses huge untapped potential. The growth in this region is also supported by the expansion of the e-commerce industry.
Key Players
Adobe Inc, SAP, Microsoft Corporation, Zoho Corporation, NetSuite Inc, Oracle Corporation, Salesforce.com Inc, Zendesk, HubSpot, IBM, and Others.
Market Taxonomy
By Deployment
• On-premises
• Cloud
By Component
• Software
• Services
By End Use
• IT
• Manufacturing and Construction
• BFSI
• Healthcare
• Consumer Goods and Retail
• Education
• Others
By Application
• Marketing automation
• Lead generation and customer retention
• Customer management
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Customer Relationship Management Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Customer Relationship Management Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Customer Relationship Management Market, By Deployment
5.1 Y-o-Y Growth Comparison, By Deployment
5.2 Global Customer Relationship Management Market Share Analysis, By Deployment
5.3 Global Customer Relationship Management Market Size and Forecast, By Deployment
5.3.1 On-premises
5.3.2 Coud
6 Global Customer Relationship Management Market, By Component
6.1 Y-o-Y Growth Comparison, By Component
6.2 Global Customer Relationship Management Market Share Analysis, By Component
6.3 Global Customer Relationship Management Market Size and Forecast, By Component
6.3.1 Software
6.3.2 Services
7 Global Customer Relationship Management Market, By End Use
7.1 Y-o-Y Growth Comparison, By End Use
7.2 Global Customer Relationship Management Market Share Analysis, By End Use
7.3 Global Customer Relationship Management Market Size and Forecast, By End Use
7.3.1 IT
7.3.2 Manufacturing and Construction
7.3.3 BFSI
7.3.4 Healthcare
7.3.5 Consumer Goods and Retail
7.3.6 Education
7.3.7 Others
8 Global Customer Relationship Management Market, By Application
8.1 Y-o-Y Growth Comparison, By Application
8.2 Global Customer Relationship Management Market Share Analysis, By Application
8.3 Global Customer Relationship Management Market Size and Forecast, By Application
8.3.1 Marketing automation
8.3.2 Lead generation and customer retention
8.3.3 Customer management
8.3.4 Others
9 Global Customer Relationship Management Market, By Region
9.1 Global Customer Relationship Management Market Share Analysis, By Region
9.2 Global Customer Relationship Management Market Size and Forecast, By Region
10 North America Customer Relationship Management Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 North America Customer Relationship Management Market Share Analysis, By Deployment
10.3 North America Customer Relationship Management Market Size and Forecast, By Component
10.4 North America Customer Relationship Management Market Size and Forecast, By End Use
10.5 North America Customer Relationship Management Market Size and Forecast, By Application
10.6 North America Customer Relationship Management Market Size and Forecast, By Country
10.6.1 U.S.
10.6.2 Canada
10.6.3 Mexico
11 Europe Customer Relationship Management Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Europe Customer Relationship Management Market Share Analysis, By Deployment
11.3 Europe Customer Relationship Management Market Size and Forecast, By Component
11.4 Europe Customer Relationship Management Market Size and Forecast, By End Use
11.5 Europe Customer Relationship Management Market Size and Forecast, By Application
11.6 Europe Customer Relationship Management Market Size and Forecast, By Country
11.6.1 Germany
11.6.2 France
11.6.3 UK
11.6.4 Rest of Europe
12 Asia Pacific Customer Relationship Management Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Asia Pacific Customer Relationship Management Market Share Analysis, By Deployment
12.3 Asia Pacific Customer Relationship Management Market Size and Forecast, By Component
12.4 Asia Pacific Customer Relationship Management Market Size and Forecast, By End Use
12.5 Asia Pacific Customer Relationship Management Market Size and Forecast, By Application
12.6 Asia Pacific Customer Relationship Management Market Size and Forecast, By Country
12.6.1 China
12.6.2 Japan
12.6.3 India
12.6.4 Rest of Asia
13 Latin America Customer Relationship Management Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Latin America Customer Relationship Management Market Share Analysis, By Deployment
13.3 Latin America Customer Relationship Management Market Size and Forecast, By Component
13.4 Latin America Customer Relationship Management Market Size and Forecast, By End Use
13.5 Latin America Customer Relationship Management Market Size and Forecast, By Application
13.6 Latin America Customer Relationship Management Market Size and Forecast, By Country
13.6.1 Brazil
13.6.2 Rest of Latin America
14 Middle East Customer Relationship Management Market Analysis and Forecast (2022-2027)
14.1 Introduction
14.2 Middle East Customer Relationship Management Market Share Analysis, By Deployment
14.3 Middle East Customer Relationship Management Market Size and Forecast, By Component
14.4 Middle East Customer Relationship Management Market Size and Forecast, By End Use
14.5 Middle East Customer Relationship Management Market Size and Forecast, By Application
14.6 Middle East Customer Relationship Management Market Size and Forecast, By Country
14.6.1 Saudi Arabia
14.6.2 UAE
14.6.3 Egypt
14.6.4 Kuwait
14.6.5 South Africa
15 Competitive Analysis
15.1 Competition Dashboard
15.2 Market share Analysis of Top Vendors
15.3 Key Development Strategies
16 Company Profiles
16.1 Adobe Inc
16.1.1 Overview
16.1.2 Offerings
16.1.3 Key Financials
16.1.4 Business Segment & Geographic Overview
16.1.5 Key Market Developments
16.1.6 Key Strategies
16.2 SAP
16.2.1 Overview
16.2.2 Offerings
16.2.3 Key Financials
16.2.4 Business Segment & Geographic Overview
16.2.5 Key Market Developments
16.2.6 Key Strategies
16.3 Microsoft Corporation
16.3.1 Overview
16.3.2 Offerings
16.3.3 Key Financials
16.3.4 Business Segment & Geographic Overview
16.3.5 Key Market Developments
16.3.6 Key Strategies
16.4 Zoho Corporation
16.4.1 Overview
16.4.2 Offerings
16.4.3 Key Financials
16.4.4 Business Segment & Geographic Overview
16.4.5 Key Market Developments
16.4.6 Key Strategies
16.5 NetSuite Inc
16.5.1 Overview
16.5.2 Offerings
16.5.3 Key Financials
16.5.4 Business Segment & Geographic Overview
16.5.5 Key Market Developments
16.5.6 Key Strategies
16.6 Oracle Corporation
16.6.1 Overview
16.6.2 Offerings
16.6.3 Key Financials
16.6.4 Business Segment & Geographic Overview
16.6.5 Key Market Developments
16.6.6 Key Strategies
16.7 Salesforce.com Inc
16.7.1 Overview
16.7.2 Offerings
16.7.3 Key Financials
16.7.4 Business Segment & Geographic Overview
16.7.5 Key Market Developments
16.7.6 Key Strategies
16.8 Zendesk
16.8.1 Overview
16.8.2 Offerings
16.8.3 Key Financials
16.8.4 Business Segment & Geographic Overview
16.8.5 Key Market Developments
16.8.6 Key Strategies
16.9 HubSpot
16.9.1 Overview
16.9.2 Offerings
16.9.3 Key Financials
16.9.4 Business Segment & Geographic Overview
16.9.5 Key Market Developments
16.9.6 Key Strategies
16.10 IBM
16.10.1 Overview
16.10.2 Offerings
16.10.3 Key Financials
16.10.4 Business Segment & Geographic Overview
16.10.5 Key Market Developments
16.10.6 Key Strategies
