Introduction
The global customer relationship management (CRM) application software is getting boosted due to the changing economic realities and an ever changing global business environment. Presently, there are a number of factors that are decreasing loyalty amongst the customers, which include decreasing amount of trust in established brands, sloppy implementation of loyalty programs, the inability of the companies to match with the expectation of their customers and an informed consumer whose focus is on price to performance benefits.
Keeping in view such factors, a customer relationship management application software is one of the most potent methods for retaining customers and for creating and maintaining robust customer relationships. The customer relationship management application software will continue to maintain a steady progress due to increasing focus of the enterprises on the customer engagement which is an important strategy to keep the customers satisfied and due to the emergence of the social media platforms.
According to the assessment of Future Market Insights, the global CRM application software market is forecasted to reach a figure of about US$ 62,200 Mn in 2022 and is poised to exhibit a robust CAGR in the period of assessment.
North America Market Set to Dominate the Global CRM application software Market in Terms of Revenue
The market in North America is set to dominate the global CRM application software market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America CRM application software market is the most attractive market, growing at a robust CAGR over the forecast period.
Cloud Segment Slated to Touch a Value of Nearly US$ 34,750 Mn in 2022
According to the projections of Future Market Insights, the cloud segment is expected to reach a value of about US$ 34,750 Mn in the year 2022. This signifies a robust CAGR during the forecast period of 2017-2022. The cloud segment is estimated to account for nearly half of the revenue share of the deployment segment by the end of the year 2017 and is expected to gain in market share by 2022 over 2017.
BFSI Segment to Exhibit a CAGR of Nearly 15.0% During the Assessment Period
According to the assessment of Future Market Insights, the BFSI segment is poised to touch a figure of about US$ 11,300 Mn in the year 2022. This signifies a CAGR of nearly 15.0% during the assessment period from 2017 till the year 2022. The BFSI segment is estimated to account for nearly one-fifth of the revenue share of the vertical segment by the end of the year 2017 and is projected to gain market share by 2022 over 2017.
Competition Tracking
The report also profiles companies that are expected to remain active in the expansion of global CRM application software market through 2022, which include Salesforce.com, Inc., Oracle Corp, SAP SE, IBM Corporation, Microsoft Corp., Adobe Systems, Inc., Genesys Telecommunications Laboratories Inc., Nice Systems Inc., Amdocs Ltd. and Sas Institute Inc.
Market Taxonomy
Deployment
- Cloud
- On-Premise
Vertical
- BFSI
- Retail
- IT & Telecommunication
- Healthcare
- Discrete Manufacturing
- Government
- Education
- Others
Application
- Marketing Automation
- Sales Automation
- Customer Service & Support
- Contact Centre
Operating Environment
- Mainframe
- Unix
- Linux
- Windows 32 and 64
- Other Operating Environment
Region
- North America
- Latin America
- Europe
- Japan
- Asia Pacific excluding Japan
- Middle East and Africa
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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