Customer relationship management is a tool, which is used to analyze and manage customers’ interaction throughout the customer life cycle. Increasing demand for software-as-a-service based CRM have accelerated growth of the market. Automated engagement, high customer service, improved experience, and rising scope of digital operations are some of major factors, which fuels demand for CRM software and solutions in various verticals. Social CRM have the capability to improve lead generation, which has led to increasing demand for these in various organization, in turn driving growth of the global CRM market.
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North America customer relationship management market is estimated to be dominant in 2017
On the basis of geography, the global customer relationship management market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America held the dominant position in the market in 2016 and is projected to retain its dominance throughout the forecast period. The U.S. and Canada are some of the major growth engines in this region. The market in North America is expected to exhibit high growth, due to presence of market leaders such as Salesforce, SAP, Oracle, Microsoft, and Adobe in the region. Furthermore, Asia Pacific region is expected to grow with the highest CAGR in the forecast period. India and China are some of the major growth engines in the market. Increasing numbers of SMEs is one of the major factors driving growth of CRM market in this region. For instance, according to Indian government Economic Survey, 2016, the country had over 19,000 technology-enabled startups in the same year.
Key Companies – Global Customer Relationship Management Market
Some of the major companies in the global customer relationship management market are Oracle Corporation, SAP SE, International Business Machines Corporation, Microsoft Corporation, SAS Institute, Inc., Accenture PLC, Infor, Teradata, Angoss Software Corporation, and Salesforce.
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