Customer Relationship Management (CRM) Market Report by Component (Software, Services), Deployment Mode (On-premises, Cloud-based), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Application (Customer Service, Customer Experien

Customer Relationship Management (CRM) Market Report by Component (Software, Services), Deployment Mode (On-premises, Cloud-based), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Application (Customer Service, Customer Experience Management, CRM Analytics, Marketing Automation, Salesforce Automation, and Others), Industry Vertical (BFSI, Retail, Healthcare, IT and Telecom, Discrete Manufacturing, Government and Education, and Others), and Region 2024-2032

The global customer relationship management (CRM) market size reached US$ 63.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 151.5 Billion by 2032, exhibiting a growth rate (CAGR) of 9.9% during 2024-2032.

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.

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 customer relationship management (CRM) market report, along with forecasts at the global, regional and country level from 2024-2032. 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:

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:

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 Insightly Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Pegasystems Inc., Ramco Systems Limited (The Ramco Cements Limited), Sage Group plc, Salesforce Inc., SAP SE, SugarCRM Inc. and Zoho Corporation Private Limited.

Key Questions Answered in This Report

1. What was the size of the global customer relationship management (CRM) market in 2023?
2. What is the expected growth rate of the global customer relationship management (CRM) market during 2024-2032?
3. What are the key factors driving the global customer relationship management (CRM) market?
4. What has been the impact of COVID-19 on the global customer relationship management (CRM) market?
5. What is the breakup of the global customer relationship management (CRM) market based on the component?
6. What is the breakup of the global customer relationship management (CRM) market based on the deployment mode?
7. What is the breakup of the global customer relationship management (CRM) market based on the organization size?
8. What is the breakup of the global customer relationship management (CRM) market based on the application?
9. What is the breakup of the global customer relationship management (CRM) market based on the industry vertical?
10. What are the key regions in the global customer relationship management (CRM) market?
11. Who are the key players/companies in the global customer relationship management (CRM) market?