CRM System Providers in the US - Industry Market Research Report

CRM System Providers in the US - Industry Market Research Report

CRM System Providers in the US

The CRM System Providers industry has grown expansively as more and more companies have invested in software to improve and optimize their business processes. Prior to 2020, high corporate profit and low interest rates encouraged capital investment among businesses, including introducing customer relationship management (CRM) software to operations. In 2020, the pandemic significantly reduced corporate profit and private investment levels, constraining the bulk of the US economy. Fortunately for the industry, the pandemic also prompted businesses to introduce or enhance online operations, bolstering demand for industry software. The prominence of remote work led to the percentage of business conducted online to boom, in-turn enabling CRM companies to prosper. Industry revenue is expected to increase at an annualized rate of 8.7% to $46.2 billion over the five years to 2023, including an increase of just 0.5% in 2023, as profit winds down to 18.2%.

This industry develops software or platforms for customer relationship management (CRM). CRM is a widely implemented strategy for managing a company’s interactions with customers, clients and sales prospects.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market