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CRM Market to Reach USD 113.46 Billion by 2027; Increasing Investments in Integration of Advanced Concepts to Aid Growth, says Fortune Business Insights™

Written by Customer Service on . Posted in Mergers And Acquisitions.

Pune, Aug. 10, 2020 (GLOBE NEWSWIRE) — The global customer relationship management market size is projected to reach USD 113.46 billion by the end of 2027. The integration of advanced concepts such as AI and IoT will emerge in favor of growth of the overall market in the coming years. According to a report published by Fortune Business Insights, titled “Customer Relationship Management (CRM) Market Size, Share & COVID-19 Impact Analysis, By Component (Software, Services), By Deployment (On-Premises, Cloud), By Enterprise Size (Large Enterprises, SMEs), By Application (Marketing and Sales Automation, Customer Management, Lead Generation and Customer Retention, Customer Support and Contact Centre, Others), By Vertical (Banking, Financial Services and Insurance (BFSI), Manufacturing, IT and Telecommunications, Retail and Consumer Goods, Healthcare, Transportation and Logistics, Others) and Regional Forecast, 2020 – 2027,” the market was worth USD 47.79 billion in 2019 and will exhibit a CAGR of 11.6% during the forecast period, 2020-2027.Adoption of CRM Solutions has Risen During the Covid-19 PandemicThe recent coronavirus outbreak has created a huge panic among people as well as businesses across the world. Accounting to the rapid spread of the disease, governments have enforced strict lockdowns and advised social distancing practices. As a result, several businesses have been forced to shut down. Several businesses have implemented work from home policies. It is observed that CRM software have helped these organizations function seamlessly. Thus, the CRM market will benefit from the ongoing Covid-19 pandemic.The recent encompasses several factors that have contributed to the growth of the overall market in the coming years. Among all factors, the increasing number of company mergers and acquisitions has had the highest impact on market growth. Accounting to the massive potential held by CRM in the IT sector, corporate businesses are looking to collaborate with CRM vendors across the world. In November 2017, Adobe Inc. announced that it has collaborated with Microsoft Corporation. The companies stated that this collaboration was aimed at the development of an integrated customer relationship management and content management solution. The companies will look to combine the resources of both the organizations, with a bid to enhancing the operational performance of the CRM solution. Adobe Marketing will be used in tandem with Microsoft Dynamics 365; a step that will help the companies acquire a wider consumer base in the long run. This collaboration will not just benefit the companies but will also aid the growth of the overall CRM market in the coming years.The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The increasing use of these solutions by large scale companies, especially in the United States will emerge in favor of growth of the regional market. As of 2019, the market in North America was worth 15.84 billion and this value is projected to increase at a considerable pace in the coming years. The market in Europe will derive growth from the presence of several large scale CRM vendors in countries such as Germany, UK, and France.
List of the Leading Companies Operating in the Customer Relationship Management (CRM) Market are:Copper CRM, Inc. (San Francisco, California)Creatio (Boston, Massachusetts)Freshworks, Inc. (California, United States)HubSpot, Inc. (Massachusetts, United States)Infor, Inc. (New York, United States)Infusion Software, Inc. (Keap) (Arizona, United States)Insightly, Inc. (California, United States)Microsoft Corporation (Washington, United States)Oracle Corporation (California, United States)Pipedrive (New York, United States)Salesforce.com, Inc. (California, United States)SAP SE (Walldorf, Germany)SugarCRM (California, United States)Teamgate.com (London, United Kingdom)Zoho Corporation Pvt. Ltd. (Tamil Nadu, India)Industry Developments:July 2019 – Pipedrive, announced that it will be adding AI capabilities to its existing CRM software. Through the integration of AI, Pipedrive will look to enhance its CRM solutions and subsequently acquire a wider consumer base.IntroductionDefinition, By SegmentResearch Methodology/ApproachData SourcesExecutive SummaryMarket DynamicsMacro and Micro Economic IndicatorsDrivers, Restraints, Opportunities and TrendsImpact of COVID-19Short-term ImpactLong-term ImpactCompetition LandscapeBusiness Strategies Adopted by Key PlayersConsolidated SWOT Analysis of Key PlayersPorter’s Five Force AnalysisGlobal Customer Relationship Management (CRM) Market Share Analysis and Matrix, 2019Key Market Insights and Analysis, By SegmentsGlobal Customer Relationship Management (CRM) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027By Component (Value)SoftwareServicesBy Deployment (Value)On-PremisesCloudBy Enterprise Size (Value)Large EnterprisesSMEsBy Application (Value)Marketing and Sales AutomationCustomer ManagementLead Generation and Customer RetentionCustomer Support and Contact CentreOthers (Social Media Management, CRM Analytics, etc.)By Vertical (Value)Banking, Financial Services and Insurance (BFSI)ManufacturingIT and TelecommunicationsRetail and Consumer GoodsHealthcareTransportation and LogisticsOthers (Government, Media and Entertainment, Education, Etc.)By Region (Value)North AmericaEuropeAsia PacificMiddle East & AfricaLatin AmericaTOC Continued…!!!
Task Management Software Market Size, Share & Industry Analysis, By Component (Software, Services), By Organization Size (SMEs and Large Enterprises), By Deployment Type (Cloud and On-Premises), By End-User (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Retail, Healthcare, Manufacturing, Travel and Hospitality, Media and Entertainment, and Others) and Regional Forecast, 2019-2026Enterprise Resource Planning (ERP) Software Market Size, Share & Industry Analysis, By Component (Software, Services), By Business Function (Financial Management, Human Capital Management, Supply Chain Management, Customer Management); By Enterprise Size (SMEs, Large Enterprises), By Deployment (Cloud, On-Premises, Hybrid); By End-use (Manufacturing, BFSI, Healthcare, Transportation and Logistics, Government, Others), and Region Forecast, 2019-2026Business Process Management (BPM) Market Size, Share & Industry Analysis, By Component (Solution, Services), By Deployment Type (On-Premise, Cloud), By Enterprise Size (Large Enterprises, SME’s), By Functionality (Accounting & Finance, Sales & Marketing, Human Resource, Supply Chain Management, Operation & Support), By Industry (BFSI, IT & Telecom, Healthcare, Manufacturing, Others) and Regional Forecast, 2019-2026Customer Data Platform Market Size, Share & COVID-19 Impact Analysis, By Component (Platform and Services), By Deployment (Cloud, On-premises), By Type (Access, Analytics, and Campaign) By Industry (Banking, Financial Services and Insurance (BFSI), Retail and ecommerce, Information Technology (IT) and Telecom, Media and Entertainment, Travel and Hospitality, Healthcare, and Others (Government and Education)), and Regional Forecast, 2020-2027
Customer Experience Management Market Size, Share & Industry Analysis, By Component (Solution, Services), By Deployment (On-Premises, Cloud), By Organization Size (SMEs, Large Enterprises), By Touchpoint (Telephone, Email, Web, Social Media, and Others), By End-User (BFSI, Retail, IT and Telecommunications, Healthcare, Manufacturing, Government, Travel and Transportation and Others) and Regional Forecast, 2019-2026
Loyalty Management Market Size, Share and COVID-19 Impact Analysis, By Type (Customer Retention, Customer Loyalty, and Channel Loyalty), By Deployment (On-Premise and Cloud), By Enterprise Size (Large Enterprises, Small & Medium Enterprises), By Industry (Banking, Finance, Security and Insurance (BFSI), IT and Telecommunications, Transportation, Retail, Hospitality, Manufacturing, Media & Entertainment,) and Regional Forecast, 2020-2027

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