Global “Customer Relationship Management Market” report offers an overview of the market size, share, trends, drivers, and barriers with respect to the Customer Relationship Management Industry. Latest report on the global Customer Relationship Management market is a compilation of key market insights and discusses key market dynamics such as drivers, restraints, and opportunities at length. It also provides a comprehensive overview of the market of different regions across North America, Europe, Asia Pacific, South America, Africa and Others.
The Customer Relationship Management Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
Significant Features that are under Offering and Key Highlights of the Reports:
• Detailed overview of Customer Relationship Management Market
• Changing market dynamics of the Customer Relationship Management industry
• In-depth market segmentation by Type, Application etc
• Historical, current and projected market size in terms of volume and value
• Recent Customer Relationship Management Customer Relationship Management industry trends and developments
• Competitive landscape of Customer Relationship Management Market
• Strategies of key players and product offerings
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The global customer relationship management (CRM) market is projected to reach USD 114.4 billion by 2027 and expected to grow with a CAGR of 14.2% over the forecast period, from 2020 to 2027, according to Million Insights. Increasing demand for new technologies to analyse capabilities, information to collect the data, and converting it into better consumer experience is expected to drive the market growth across various industries. In addition, merging of AI technology, big data, and CRM is expected to fill the gap between company strategies and customer expectations for better consumer experiences.
CRM solutions are expected to witness high adoption with a significant growth rate in the past couple of years. This growth is attributed to the growing awareness about the benefits associated with CRM solutions such as increase operational efficiency, and reduction in the cost of marketing. Companies across several industries are demanding for accessing data in real-time due to the rapid proliferation of mobile and cloud-based solutions. Moreover, a growing number of smart devices and internet users worldwide, service providers are coming up with Bring Your Own Device (BYOD) solutions, thereby, projected to propel the demand for CRM solutions in the marketing and sales domain across various industries.
Digital optimization in order to increase current processes with the help of new technologies such as machine learning and artificial intelligence is a major factor influencing enterprises to adopt CRM solutions. For example, in 2018, Salesforce acquired Datorama, a cloud-based AI company. Datorama leverages machine learning and AI to offer marketing analytics and intelligence for marketing strategies and campaigns. Moreover, various service providers are offering integrated solutions with several social media platforms like LinkedIn, Twitter, and Facebook.
Some of the companies for Customer Relationship Management market are:
Microsoft; Zoho; Netsuite Inc.; Insightly Inc.; Adobe; SAP; Oracle; SugarCRM; Creatio, and Salesforce.com.
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