What Is The Customer Relationship Management Market Growth?

Customer Relationship Management Industry Overview

The global customer relationship management market size is expected to reach USD 157.6 billion by 2030, according to new research by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.3% from 2022 to 2030. The continuous demand for innovative solutions to analyze customer information, collate critical customer data, and transform it into a better customer experience strategy are driving factors for CRM solutions across all sizes of businesses. This further led to the integration of customer relationship management solutions with advanced technologies such as big data analytics, machine learning, and AI-powered analytics are expected to boost product innovation and development across CRM solutions for a better customer experience and high operational efficiency.

Customer Relationship Management Market Segmentation

Grand View Research has segmented the global customer relationship management market on the basis of solution, deployment, enterprise size, end use, and region:

Based on the Solution Insights, the market is segmented into Customer Service, Customer Experience Management, CRM Analytics, Marketing Automation, Salesforce Automation, Social Media Monitoring and Others.

• The customer service segment dominated the market and accounted for a revenue share of over 20% in 2021.
• The CRM analytics segment is anticipated to witness a significant CAGR over the forecast period.
• Ongoing demand for structured and unstructured data through digital channels is expected to drive the demand for online analytical processing over the forecast period.

Based on the Deployment Insights, the market is segmented into On-premise and Cloud.

• The cloud segment dominated the market and accounted for a revenue share of over 50.0% in 2021.
• Due to the increasing demand for data privacy, the demand for on-premise customer relationship management solutions has increased.

Based on the Enterprise Size Insights, the market is segmented into Large Enterprises and Small and Medium Enterprises.

• The large enterprises segment accounted for the highest revenue share of more than 60.0% in 2021.
• The growing adoption of a number of government initiatives through digital campaigns, such as video marketing, social media, and search engine marketing, across the globe are expected to drive the SME segment at a significant CAGR over the forecast period.

Based on the End-use Insights, the market is segmented into BFSI, Retail, Healthcare, Telecom & IT, Discrete Manufacturing, Government & Education and Others.

• The retail segment emerged as the largest shareholder in 2021, accounting for nearly 24.0% of the market, respectively.
• The increasing competition in the retail industry is driving the demand for advanced CRM software and is expected to witness a significant CAGR over the forecast period and also online systems enable enterprises to provide their customers with efficient customer-centric services.
• The IT and telecom segment is anticipated to be the fastest-growing segment over the forecast period. customer relationship management solutions in IT and telecom offer brand equity, distribution channels, post-purchase service, and customer exclusivity and support.

Customer Relationship Management Regional Outlook

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Leading market participants are investing in research and development activities to drive organic growth and increase their market shares. Additionally, companies are also engaging in new product development to expand and strengthen their existing portfolios and acquire new customers.

Some prominent players in the Customer Relationship Management market include

• Salesforce
• Microsoft Corporation
• SAP SE
• Oracle Corporation
• ADOBE INC.
• SugarCRM Inc.
• Zoho Corporation Pvt. Ltd
• Copper CRM, Inc.
• Insightly Inc.
• Creatio

Order a free sample PDF of the Customer Relationship Management Market Intelligence Study, published by Grand View Research.