Customer Relationship Management Market Industry Outlook by 2022-2030
The global customer relationship management market size was valued at USD 52.0 billion in 2021, and is predicted to be worth around USD 159.6 billion by 2030, registering a CAGR of 14.2% during the forecast period 2022 to 2030.
Growth Factors:
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.
The COVID-19 pandemic has driven several organizations across the globe to develop a roadmap and to understand together with their consumers how to move ahead in the future. Rising demand for automated engagement with customers, improving the scope of digital operations and enhancing customer experience and services are driving the demand for Customer Relationship Management (CRM) solutions across various industries globally. Emerging technologies, such as cloud computing technology, Artificial Intelligence (AI), machine learning, and the availability of various service models such as SaaS, Infrastructure as a Service (IaaS), and Platform as a Service (PaaS) are projected to drive the market over the forecast period.
The growing use of digital channels by customers to communicate with brands and organizations is anticipated to boost the market growth over the forecast period. A recent survey conducted by SoftClouds suggests that approximately 82% of the organizations use customer relationship management systems for sales reporting and process automation. It gives a better understanding of buyer behavior and their preference, which enables brands and organizations to adopt the best customer relationship management strategies and deliver performance in real-time.
Report Coverage
| Report Scope | Details |
| Market Size | USD 159.6 billion by 2030 |
| Growth Rate | CAGR of 14.2% From 2022 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Solution, Deployment, Enterprise Size, End use, Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Salesforce.com, Inc.; Microsoft Corporation; SAP SE; Oracle Corporation; ADOBE INC.; SugarCRM Inc.; Zoho Corporation Pvt. Ltd.; Copper CRM, Inc.; Insightly, Inc.; Creatio. |
By Solution Analysis
The customer service segment dominated the market and accounted for a revenue share of over 20% in 2021. The key driving factors for the growth of the market include is the growing importance of understanding customer behavior and their preferences, encouraging brands and organizations continue to adopt customer relationship management strategies to deliver the best service performance in real-time.
The CRM analytics segment is anticipated to witness a significant CAGR over the forecast period. The availability of multiple platforms and increasing adoption for integration of analytics features in customer relationship management solutions that benefit companies to derive rich insights from business data are the factors expected to drive the growth of the segment.
By Deployment Analysis
The cloud segment dominated the market and accounted for a revenue share of over 50.0% in 2021. Deployment of the CRM software on cloud, allows the users to access the same information from any device at any time. The increased product demand drives the market among small and medium enterprises. It offers several benefits, such as high flexibility, real-time access, scalability, cost-effectiveness, and low hardware maintenance cost, offered by the SaaS deployment model.
According to a customer relationship management buyer survey conducted by SelectHub, several larger enterprise groups have preferred on-premise as compared to cloud-based deployment. Due to the increasing demand for data privacy, the demand for on-premise customer relationship management solutions has increased. Furthermore, the on-premise model is still the first choice by the largest organizations in the world, as they have business-critical information to be stored on their servers for enhanced data protection.
By Enterprise Size Analysis
The large enterprises segment accounted for the highest revenue share of more than 60.0% in 2021. With the presence of multiple operational departments in large enterprises, CRM solutions are utilized to help integrate customer data with business process management features and enable users to coordinate with their sales, marketing, and customer support processes effortlessly and drive the company’s overall performance.
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. The increasing demand for business networking, internal transparency and collaboration, smooth employee transition, funding opportunities from government bodies, and building brand and reputation will enable SMEs to implement customer relationship management solutions across businesses.
By End-use Analysis
The retail segment emerged as the largest shareholder in 2021, accounting for nearly 24.0% of the market, respectively. The growing online shopping platforms and mobile application is offering huge customer data to retail companies. These retail companies are shifting towards customer relationship management software and solutions to understand business growth, market trends, and experience.
The increasing focus on digital marketing activities and customized advanced IT solutions drive the segment over the forecast period. 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 to enable enterprises to provide their customers with efficient customer-centric services.
Innovative customer relationship management solutions and digital solutions that support multiple channels for sale processes, offer analyses, and complete data-based oversight of customers and their purchasing habits are also rising. These developments in the retail segment are expected to drive the market’s growth over the forecast period.
By Regional Analysis
North America dominated the Customer Relationship Management (CRM) market and accounted for the largest revenue share of44.1% in 2021. In North America, the U.S. held the major revenue share of the market in 2021. The key driving factors are increasing adoption of CRM solutions by several enterprises across the region that rely on the use of advanced technologies and are expected to dominate the market over the forecast period.
In Asia Pacific, the market is estimated to register the highest CAGR over the forecast period. The rising demand for innovative customer relationship management solutions from emerging countries such as China and India is acting as a catalyst for the growth of the regional market.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Customer Relationship Management Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
Market Segmentation
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Customer Relationship Management market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Customer Relationship Management market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Customer Relationship Management markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Customer Relationship Management Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Enterprise Size Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Customer Relationship Management Market, By Solution
7.1. Customer Relationship Management Market, by Solution, 2021-2030
7.1.1. Button
7.1.1.1. Market Revenue and Forecast (2019-2030)
7.1.2. Shiitake
7.1.2.1. Market Revenue and Forecast (2019-2030)
7.1.3. Oyster
7.1.3.1. Market Revenue and Forecast (2019-2030)
7.1.4. Matsutake
7.1.4.1. Market Revenue and Forecast (2019-2030)
7.1.5. Truffles
7.1.5.1. Market Revenue and Forecast (2019-2030)
Chapter 8. Global Customer Relationship Management Market, By Deployment
8.1. Customer Relationship Management Market, by Deployment, 2021-2030
8.1.1. On-premise
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Cloud
8.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Customer Relationship Management Market, By Enterprise Size
9.1. Customer Relationship Management Market, by Enterprise Size, 2021-2030
9.1.1. Large Enterprises
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Small & Medium Enterprise
9.1.2.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Customer Relationship Management Market, By End-use
10.1. Customer Relationship Management Market, by End-use, 2021-2030
10.1.1. BFSI
10.1.1.1. Market Revenue and Forecast (2019-2030)
10.1.2. Retail
10.1.2.1. Market Revenue and Forecast (2019-2030)
10.1.3. Healthcare
10.1.3.1. Market Revenue and Forecast (2019-2030)
10.1.4. IT & Telecom
10.1.4.1. Market Revenue and Forecast (2019-2030)
10.1.5. Discrete Manufacturing
10.1.5.1. Market Revenue and Forecast (2019-2030)
10.1.6. Government & Education
10.1.6.1. Market Revenue and Forecast (2019-2030)
Chapter 11. Global Customer Relationship Management Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Solution (2019-2030)
11.1.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.1.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.1.4. Market Revenue and Forecast, by End-use (2019-2030)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Solution (2019-2030)
11.1.5.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.1.5.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.1.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Solution (2019-2030)
11.1.6.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.1.6.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.1.6.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Solution (2019-2030)
11.2.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.2.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.2.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Solution (2019-2030)
11.2.5.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.2.5.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.2.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Solution (2019-2030)
11.2.6.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.2.6.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.2.6.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Solution (2019-2030)
11.2.7.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.2.7.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.2.7.4. Market Revenue and Forecast, by End-use (2019-2030)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Solution (2019-2030)
11.2.8.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.2.8.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.2.8.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Solution (2019-2030)
11.3.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.3.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.3.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Solution (2019-2030)
11.3.5.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.3.5.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.3.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Solution (2019-2030)
11.3.6.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.3.6.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.3.6.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Solution (2019-2030)
11.3.7.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.3.7.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.3.7.4. Market Revenue and Forecast, by End-use (2019-2030)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Solution (2019-2030)
11.3.8.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.3.8.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.3.8.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Solution (2019-2030)
11.4.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.4.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.4.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Solution (2019-2030)
11.4.5.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.4.5.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.4.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Solution (2019-2030)
11.4.6.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.4.6.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.4.6.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Solution (2019-2030)
11.4.7.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.4.7.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.4.7.4. Market Revenue and Forecast, by End-use (2019-2030)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Solution (2019-2030)
11.4.8.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.4.8.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.4.8.4. Market Revenue and Forecast, by End-use (2019-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Solution (2019-2030)
11.5.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.5.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Solution (2019-2030)
11.5.5.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.5.5.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.5.5.4. Market Revenue and Forecast, by End-use (2019-2030)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Solution (2019-2030)
11.5.6.2. Market Revenue and Forecast, by Deployment (2019-2030)
11.5.6.3. Market Revenue and Forecast, by Enterprise Size (2019-2030)
11.5.6.4. Market Revenue and Forecast, by End-use (2019-2030)
Chapter 12. Company Profiles
12.1. Salesforce.com, Inc.
12.1.1. Company Overview
12.1.2. Solution Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Microsoft Corporation
12.2.1. Company Overview
12.2.2. Solution Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. SAP SE
12.3.1. Company Overview
12.3.2. Solution Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Oracle Corporation
12.4.1. Company Overview
12.4.2. Solution Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. ADOBE INC.
12.5.1. Company Overview
12.5.2. Solution Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. SugarCRM Inc.
12.6.1. Company Overview
12.6.2. Solution Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Zoho Corporation Pvt. Ltd
12.7.1. Company Overview
12.7.2. Solution Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Copper CRM, Inc.
12.8.1. Company Overview
12.8.2. Solution Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Insightly Inc.
12.9.1. Company Overview
12.9.2. Solution Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Creatio
12.10.1. Company Overview
12.10.2. Solution Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers