New York, May 30, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Customer Relationship Management (CRM) Software: Global Markets" - https://www.reportlinker.com/p05881917/?utm_source=GNW
Revenue forecasts for this period are segmented based on component, deployment, organization size, application, end-use industry and region.
The report also focuses on the major trends and challenges that affect the market and the competitive landscape.It explains the current market trends and provides detailed profiles of the major players and strategies to enhance market presence.
The report estimates the size of the global CRM software market in 2021 and provides projections of the expected market size through 2027.
Report Includes:
- 48 data tables and 34 additional tables
- A brief general outlook of the global markets for customer relationship management (CRM) software
- Analyses of the global market trends, with historic market revenue data (sales figures) for 2021, estimates for 2022, forecasts for 2023 and 2025, and projections of compound annual growth rates (CAGRs) through 2027
- Estimation of the actual market size and revenue forecast for the global CRM software market, and corresponding market share analysis based on the component, deployment, organization size, application, end-use industry, and region
- Identification of viable technology drivers through a comprehensive look at various forms of CRM software, application industries, and adoption of CRM solutions across a broad spectrum of industry verticals
- Assessment of the global competitive landscape with an analysis of key market positing and global shares, as well as strategies for key solution providers of CRM software and related cloud computing technologies
- Discussion of the key underlying trends (both current and emerging) related to CRM software market, value chain analysis, regulatory environment, use cases, and the impact of industry-specific and region-specific macroeconomic variables on the progress of this market
- A relevant patent analysis on CRM software technologies and review of recent key granted patents
- Company profiles of major players within the industry, including Adobe Inc., Microsoft, Sage Group plc., Salesforce Inc., SAP SE, and ServiceNow
Summary:
Customer Relationship Management (CRM) is an approach that helps organizations to improve existing customer relationships and engage new customers, rapidly.Using customer relationship management simplifies customer communication and increases customer satisfaction with the service and product.
This platform includes direction and guidelines about how direct interactions occur between customers and enterprises and is also used for organizing and tracking all relevant information.This information is needed to find leads, close deals, retain customers, increase sales, build stronger relationships, create more personalized customer service and make processes more efficient and simplified.
Customer relationship management helps sales managers to automate sales activities and track team performance.
The global CRM software market was valued at $50.3 billion in 2021 and is anticipated to reach $103.5 billion by 2027. The market’s compound annual growth rate (CAGR) is estimated to grow by 13.0% over the forecast period, 2022-2027. The ongoing trends such as the use of AI and automation, hyperpersonalization of customer service and implementation of robust social media customer service can help minimize costs, increase response times, improve customer satisfaction and accelerate the adoption of CRM platforms across industries are the major factors that drive the market growth. Organizational departments such as sales and marketing and customer service and support are increasingly integrating customer relationship management software with AI to improve customer experience, feedback and develop strong bonds with customers. In April 2022, Salesforce Inc., a cloudbased software company, launched CRM analytics with new capabilities, such as AI-powered insights for sales, marketing and service teams for every industry, such as BFSI, retail and IT and telecom, among others.
In this report, the global CRM software market was segmented by component, deployment, organization size, application, end-use industry and region.
Read the full report: https://www.reportlinker.com/p05881917/?utm_source=GNW
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