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Customer Relationship Management (CRM) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global customer relationship management (CRM) market reached a value of US$ 51.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 103.1 Billion by 2027, exhibiting a growth rate (CAGR) of 11.80% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Customer relationship management, or CRM, refers to various solutions and software employed by organizations to manage the external interactions and relationships with customers. It stores the customer data, identify sales opportunities, maintain a record of service issues or complaints, and manage marketing campaigns. It also assists businesses in streamlining sales, accounting, and management by providing real-time access to a centralized database, thus eliminating the need for unnecessary paperwork and speeding up communication. In recent years, CRM solutions have gained immense traction across numerous industries, including banking, financial services and insurance (BFSI), telecommunications, retail, healthcare, government, and education. 

 

 
 

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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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CRM (Customer Relationship Management) Market Trends:

CRM solutions help enhance customer service, build stronger brand-customer relationships, and improve customer retention and acquisition. As a result, the escalating demand for automated customer engagement for better customer experience represents the primary factor driving the market growth. Besides this, the growing usage of digital channels like social media platforms by individuals to interact with brands is augmenting the demand for CRM solutions. Additionally, enterprises are employing efficient tools to handle customer data and utilize actionable insights to make informed business decisions. Along with this, the shifting preferences from push marketing to pull marketing are propelling the market growth. Furthermore, the widespread adoption of work-from-home (WFH) policies due to the recent coronavirus disease (COVID-19) outbreak is encouraging organizations to adopt CRM solutions to interact with customers effectively in a remote-working environment. Moreover, the increasing integration of CRM software with advanced technologies, such as the Internet of Things (IoT), artificial intelligence (AI), and big data, are catalyzing the product demand. Other factors, including the growing popularity of cloud solutions, rapid digitization, and technological advancements in business intelligence, are also creating a positive market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global CRM (customer relationship management) market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment mode, organization size, application and industry vertical

Breakup by Component:

  • Software 
  • Services
     

Breakup by Deployment Mode:

  • On-premises
  • Cloud-based
     

Breakup by Organization Size:

  • Small and Medium-sized Enterprises
  • Large Enterprises
     

Breakup by Application:

 

 
 

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  • Customer Service
  • Customer Experience Management
  • CRM Analytics
  • Marketing Automation
  • Salesforce Automation
  • Others
     

Breakup by Industry Vertical:

  • BFSI
  • Retail
  • Healthcare
  • IT and Telecom
  • Discrete Manufacturing
  • Government and Education
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Adobe Inc., Cisco Systems Inc., Insightly Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Pegasystems Inc., Ramco Systems Limited, Sage Group plc, Salesforce.com Inc., SAP SE, SugarCRM Inc. and Zoho Corporation Private Limited.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Component, Deployment Mode, Organization Size, Application, Industry Vertical, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Adobe Inc., Cisco Systems Inc., Insightly Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Pegasystems Inc., Ramco Systems Limited, Sage Group plc, Salesforce.com Inc., SAP SE, SugarCRM Inc. and Zoho Corporation Private Limited.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Customer Relationship Management (CRM) Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Component
    6.1    Software 
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Services
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Deployment Mode
    7.1    On-premises
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Cloud-based
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Organization Size
    8.1    Small and Medium-sized Enterprises
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Large Enterprises
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by Application
    9.1    Customer Service
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Customer Experience Management
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    CRM Analytics
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Marketing Automation
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Salesforce Automation
        9.5.1 Market Trends
        9.5.2 Market Forecast
    9.6    Others
        9.6.1 Market Trends
        9.6.2 Market Forecast
10    Market Breakup by Industry Vertical
    10.1    BFSI
        10.1.1 Market Trends
        10.1.2 Market Forecast
    10.2    Retail
        10.2.1 Market Trends
        10.2.2 Market Forecast
    10.3    Healthcare
        10.3.1 Market Trends
        10.3.2 Market Forecast
    10.4    IT and Telecommunication
        10.4.1 Market Trends
        10.4.2 Market Forecast
    10.5    Discrete Manufacturing
        10.5.1 Market Trends
        10.5.2 Market Forecast
    10.6    Government and Education
        10.6.1 Market Trends
        10.6.2 Market Forecast
    10.7    Others
        10.7.1 Market Trends
        10.7.2 Market Forecast
11    Market Breakup by Region
    11.1    North America
        11.1.1 United States
           11.1.1.1 Market Trends
           11.1.1.2 Market Forecast
        11.1.2 Canada
           11.1.2.1 Market Trends
           11.1.2.2 Market Forecast
    11.2    Asia-Pacific
        11.2.1 China
           11.2.1.1 Market Trends
           11.2.1.2 Market Forecast
        11.2.2 Japan
           11.2.2.1 Market Trends
           11.2.2.2 Market Forecast
        11.2.3 India
           11.2.3.1 Market Trends
           11.2.3.2 Market Forecast
        11.2.4 South Korea
           11.2.4.1 Market Trends
           11.2.4.2 Market Forecast
        11.2.5 Australia
           11.2.5.1 Market Trends
           11.2.5.2 Market Forecast
        11.2.6 Indonesia
           11.2.6.1 Market Trends
           11.2.6.2 Market Forecast
        11.2.7 Others
           11.2.7.1 Market Trends
           11.2.7.2 Market Forecast
    11.3    Europe
        11.3.1 Germany
           11.3.1.1 Market Trends
           11.3.1.2 Market Forecast
        11.3.2 France
           11.3.2.1 Market Trends
           11.3.2.2 Market Forecast
        11.3.3 United Kingdom
           11.3.3.1 Market Trends
           11.3.3.2 Market Forecast
        11.3.4 Italy
           11.3.4.1 Market Trends
           11.3.4.2 Market Forecast
        11.3.5 Spain
           11.3.5.1 Market Trends
           11.3.5.2 Market Forecast
        11.3.6 Russia
           11.3.6.1 Market Trends
           11.3.6.2 Market Forecast
        11.3.7 Others
           11.3.7.1 Market Trends
           11.3.7.2 Market Forecast
    11.4    Latin America
        11.4.1 Brazil
           11.4.1.1 Market Trends
           11.4.1.2 Market Forecast
        11.4.2 Mexico
           11.4.2.1 Market Trends
           11.4.2.2 Market Forecast
        11.4.3 Others
           11.4.3.1 Market Trends
           11.4.3.2 Market Forecast
    11.5    Middle East and Africa
        11.5.1 Market Trends
        11.5.2 Market Breakup by Country
        11.5.3 Market Forecast
12    SWOT Analysis
    12.1    Overview
    12.2    Strengths
    12.3    Weaknesses
    12.4    Opportunities
    12.5    Threats
13    Value Chain Analysis
14    Porters Five Forces Analysis

    14.1    Overview
    14.2    Bargaining Power of Buyers
    14.3    Bargaining Power of Suppliers
    14.4    Degree of Competition
    14.5    Threat of New Entrants
    14.6    Threat of Substitutes
15    Price Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Key Players
    16.3    Profiles of Key Players
        16.3.1    Adobe Inc.
           16.3.1.1 Company Overview
           16.3.1.2 Product Portfolio
           16.3.1.3 Financials
           16.3.1.4 SWOT Analysis
        16.3.2    Cisco Systems Inc.
           16.3.2.1 Company Overview
           16.3.2.2 Product Portfolio
           16.3.2.3 Financials
           16.3.2.4 SWOT Analysis
        16.3.3    Insightly Inc.
           16.3.3.1 Company Overview
           16.3.3.2 Product Portfolio
        16.3.4    International Business Machines Corporation
           16.3.4.1 Company Overview
           16.3.4.2 Product Portfolio
           16.3.4.3 Financials
           16.3.4.4 SWOT Analysis
        16.3.5    Microsoft Corporation
           16.3.5.1 Company Overview
           16.3.5.2 Product Portfolio
           16.3.5.3 Financials
           16.3.5.4 SWOT Analysis
        16.3.6    Oracle Corporation
           16.3.6.1 Company Overview
           16.3.6.2 Product Portfolio
           16.3.6.3 Financials
           16.3.6.4 SWOT Analysis
        16.3.7    Pegasystems Inc.
           16.3.7.1 Company Overview
           16.3.7.2 Product Portfolio
           16.3.7.3 Financials
           16.3.7.4 SWOT Analysis
        16.3.8    Ramco Systems Limited
           16.3.8.1 Company Overview
           16.3.8.2 Product Portfolio
           16.3.8.3 Financials
        16.3.9    Sage Group plc
           16.3.9.1 Company Overview
           16.3.9.2 Product Portfolio
           16.3.9.3 Financials
           16.3.9.4 SWOT Analysis
        16.3.10    Salesforce.com Inc.
           16.3.10.1 Company Overview
           16.3.10.2 Product Portfolio
           16.3.10.3 Financials
           16.3.10.4 SWOT Analysis
        16.3.11    SAP SE
           16.3.11.1 Company Overview
           16.3.11.2 Product Portfolio
           16.3.11.3 Financials
           16.3.11.4 SWOT Analysis
        16.3.12    SugarCRM Inc.
           16.3.12.1 Company Overview
           16.3.12.2 Product Portfolio
        16.3.13    Zoho Corporation Private Limited
           16.3.13.1 Company Overview
           16.3.13.2 Product Portfolio

List of Figures

Figure 1: Global: Customer Relationship Management Market: Major Drivers and Challenges
Figure 2: Global: Customer Relationship Management Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Customer Relationship Management Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Customer Relationship Management Market: Breakup by Component (in %), 2021
Figure 5: Global: Customer Relationship Management Market: Breakup by Deployment Mode (in %), 2021
Figure 6: Global: Customer Relationship Management Market: Breakup by Organization Size (in %), 2021
Figure 7: Global: Customer Relationship Management Market: Breakup by Application (in %), 2021
Figure 8: Global: Customer Relationship Management Market: Breakup by Industry Vertical (in %), 2021
Figure 9: Global: Customer Relationship Management Market: Breakup by Region (in %), 2021
Figure 10: Global: Customer Relationship Management (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Customer Relationship Management (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Customer Relationship Management (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Customer Relationship Management (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Customer Relationship Management (On-premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Customer Relationship Management (On-premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Customer Relationship Management (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Customer Relationship Management (Cloud-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Customer Relationship Management (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Customer Relationship Management (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Customer Relationship Management (Large Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Customer Relationship Management (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Customer Relationship Management (Customer Service) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Customer Relationship Management (Customer Service) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Customer Relationship Management (Customer Experience Management) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Customer Relationship Management (Customer Experience Management) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Customer Relationship Management (CRM Analytics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Customer Relationship Management (CRM Analytics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Customer Relationship Management (Marketing Automation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Customer Relationship Management (Marketing Automation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Customer Relationship Management (Salesforce Automation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Customer Relationship Management (Salesforce Automation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Customer Relationship Management (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Customer Relationship Management (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Customer Relationship Management (BFSI) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Customer Relationship Management (BFSI) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Customer Relationship Management (Retail) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Customer Relationship Management (Retail) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Global: Customer Relationship Management (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Global: Customer Relationship Management (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Global: Customer Relationship Management (IT and Telecom) Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Global: Customer Relationship Management (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Global: Customer Relationship Management (Discrete Manufacturing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Global: Customer Relationship Management (Discrete Manufacturing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Global: Customer Relationship Management (Government and Education) Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Global: Customer Relationship Management (Government and Education) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Global: Customer Relationship Management (Other Industry Verticals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Global: Customer Relationship Management (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: North America: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: North America: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: United States: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: United States: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Canada: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Canada: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Asia-Pacific: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Asia-Pacific: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: China: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: China: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Japan: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Japan: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: India: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: India: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: South Korea: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: South Korea: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Australia: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Australia: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Indonesia: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Indonesia: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Others: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Others: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Europe: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Europe: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Germany: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Germany: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: France: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: France: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: United Kingdom: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: United Kingdom: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Italy: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Italy: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Spain: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Spain: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Russia: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Russia: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Others: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 85: Others: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Latin America: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 87: Latin America: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 88: Brazil: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 89: Brazil: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 90: Mexico: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 91: Mexico: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 92: Others: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 93: Others: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 94: Middle East and Africa: Customer Relationship Management Market: Sales Value (in Million US$), 2016 & 2021
Figure 95: Middle East and Africa: Customer Relationship Management Market: Breakup by Country (in %), 2021
Figure 96: Middle East and Africa: Customer Relationship Management Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 97: Global: Customer Relationship Management Industry: SWOT Analysis
Figure 98: Global: Customer Relationship Management Industry: Value Chain Analysis
Figure 99: Global: Customer Relationship Management Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Customer Relationship Management Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Customer Relationship Management Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Customer Relationship Management Market Forecast: Breakup by Deployment Mode (in Million US$), 2022-2027
Table 4: Global: Customer Relationship Management Market Forecast: Breakup by Organization Size (in Million US$), 2022-2027
Table 5: Global: Customer Relationship Management Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 6: Global: Customer Relationship Management Market Forecast: Breakup by Industry Vertical (in Million US$), 2022-2027
Table 7: Global: Customer Relationship Management Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Customer Relationship Management Market: Competitive Structure
Table 9: Global: Customer Relationship Management Market: Key Players


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Key Questions Answered in This Report

The global customer relationship management (CRM) market was valued at US$ 51.4 Billion in 2021.

We expect the global customer relationship management (CRM) market to exhibit a CAGR of 11.80%
during 2022-2027.

The rising demand for automated customer engagement solution, such as CRM solutions, to enhance
customer service and build stronger brand-customer relationships, is primarily driving the global
customer relationship management (CRM) market.

The sudden outbreak of the COVID-19 pandemic has led to the rising employment of Customer
Relationship Management (CRM) solutions across numerous end-use industries, including retail,
healthcare, government, etc., to interact with customers effectively in the remote-working
environment.

Based on the component, the global customer relationship management (CRM) market can be
segmented into software and services. Currently, software holds the majority of the total market share.

Based on the deployment mode, the global customer relationship management (CRM) market has been
divided into on-premises and cloud-based, where cloud-based currently exhibits a clear dominance in
the market.

Based on the organization size, the global customer relationship management (CRM) market can be
categorized into small and medium-sized enterprises and large enterprises. Currently, large enterprises
account for the majority of the global market share.

Based on the application, the global customer relationship management (CRM) market has been
segregated into customer service, customer experience management, CRM analytics, marketing
automation, salesforce automation, and others. Among these, customer service holds the largest market
share.

Based on the industry vertical, the global customer relationship management (CRM) market can be
bifurcated into BFSI, retail, healthcare, IT and telecom, discrete manufacturing, government and
education, and others. Currently, the retail industry exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global customer relationship management (CRM) market include
Adobe Inc., Cisco Systems Inc., Insightly Inc., International Business Machines Corporation, Microsoft
Corporation, Oracle Corporation, Pegasystems Inc., Ramco Systems Limited, Sage Group plc,
Salesforce.com Inc., SAP SE, SugarCRM Inc., and Zoho Corporation Private Limited.

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