Customer Relationship Management Market Expected to Reach US ~$228.74 Billion and CAGR 13.5% by 2030 – Polaris Market Research
The global customer relationship management market size is expected to reach USD 228.74 billion by 2030, according to a new study by Polaris Market Research.
The incorporation of digitally enhanced technology throughout all organizational domains to improve efficiency and value generation to customers is known as digital transition. Companies are being forced to embrace new digital business strategies and industry dynamics to provide a better client experience, and relationship and compete in the market. Increasing demand for efficient and reliable tools, including client relationship management, is expected to increase the industry growth over the forecast period.
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Many firms have suffered as a result of worries about anything between distribution network interruptions to decreased client demand as well as social disengagement rules that have touched nearly every element of corporate activities. Companies are increasing their efforts to provide more client satisfaction by implementing digital tools such as client relationship management (CRM) to compete in the industry.
The CRM analytics segment is expected to grow at the fastest pace with a CAGR of 15.1% throughout the forecast period. The increasing need to recognize client purchasing behavior for much more personalized consumer interaction, as well as the adoption of techniques such as ML and AI by companies in order to provide better service through automated software customized marketing, is expected to increase the demand for customer analytics over the forecast period.
North America is expected to dominate the global market and is expected to grow at a CAGR of 13.9% over the forecast period due to the increasing adoption of innovative technologies, including machine automation coupled with an increasing shift towards digital technologies in various sectors such as energy, IT, healthcare and others.
Industry players operating in the global market include Salesforce.com, Adobe, Oracle, SAP, Microsoft, Zendesk, HubSpot, IBM, SugarCRM, Copper CRM, Inc., Creatio, Insightly, Inc., Pipedrive, Zoho Corporation Pvt. Ltd. SYNNEX Corporation, NetSuite Inc., and others.
These players are adopting strategies including mergers & acquisitions, partnerships and collaboration, and new product launches in order to lead the global industry. For instance, in February 2022, Creatio Released 8.0 Atlas, Its Major Gateway Update, to Build Programs and Workflows with No-Code and Maximum Degree of Freedom.
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Polaris Market Research has segmented the customer relationship management market report based on solution, deployment, enterprise size, end-use, and region:
Customer Relationship Management, Solution Outlook (Revenue – USD Billion, 2018 – 2030)
- Customer Service
- Customer Experience Management
- CRM Analytics
- Marketing Automation
- Salesforce Automation
- Social Media Monitoring
- Others
Customer Relationship Management, Deployment Outlook (Revenue – USD Billion, 2018 – 2030)
- On-premise
- Cloud
Customer Relationship Management, Enterprise Size Outlook (Revenue – USD Billion, 2018 – 2030)
- Large Enterprise
- SMEs
Customer Relationship Management, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Services
- IT
- Manufacturing
- Finance
- Distribution
- Construction
- Government
- Healthcare
- Retail
- Education
- Others
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