Global Customer Relationship Management Market, By Organization Size (Small and Mid-size organization and Large Organization), By Deployment Model (On-premises and Cloud), By Verticals (Banking, Financial Services, and Insurance, Retail and Wholesale, Healthcare and Life Sciences, Telecommunication and IT, Energy and Utilities, Media and Entertainment, Transportation and Logistics, Hospitality, Manufacturing, and Others), and by Geography - Global Industry Insights, Trends, Outlook, Opportunity Analysis, 2018-2026

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Customer relationship management is a tool, which is used to analyze and manage customers’ interaction throughout the customer life cycle. Increasing demand for software-as-a-service based CRM have accelerated growth of the market. Automated engagement, high customer service, improved experience, and rising scope of digital operations are some of major factors, which fuels demand for CRM software and solutions in various verticals. Social CRM have the capability to improve lead generation, which has led to increasing demand for these in various organization, in turn driving growth of the global CRM market.

Customer Relationship Management Market Taxonomy

On the basis of organization size, the customer relationship management market is diversified into:

  • Small and Mid-size Organization
  • Large Organization

Large organization segment is estimated to be dominant in the CRM market in 2017 and is projected to retain its dominance throughout the forecast period. These CRM software and solutions help companies to track return-on-investment and helps to improve the overall company sales. Furthermore, small and mid-size organization are expected to exhibit highest CAGR over the forecast period. Increasing demand for SaaS-based solutions, due to less investment in IT infrastructure and this has accelerated the segment growth in the market.

On the basis of deployment model, the customer relationship management market is segmented into:

  • On-premises
  • Cloud

Cloud-based segment held the dominant position in the market in 2016 and is projected to retain its dominance throughout the forecast period. Cost effectiveness, remote location access, less infrastructure investment, and enhanced flexibility are some of the advantages of cloud-based deployment, which increased demand for cloud solutions.

On the basis of verticals, the customer relationship management market is segmented into:

  • Banking, Financial Services, and Insurance
  • Retail and Wholesale
  • Healthcare and Life Sciences
  • Telecommunication and IT
  • Energy and Utilities
  • Media and Entertainment
  • Transportation and Logistics
  • Hospitality
  • Manufacturing
  • Others

North America customer relationship management market is estimated to be dominant in 2017

On the basis of geography, the global customer relationship management market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America held the dominant position in the market in 2016 and is projected to retain its dominance throughout the forecast period. The U.S. and Canada are some of the major growth engines in this region. The market in North America is expected to exhibit high growth, due to presence of market leaders such as Salesforce, SAP, Oracle, Microsoft, and Adobe in the region. Furthermore, Asia Pacific region is expected to grow with the highest CAGR in the forecast period. India and China are some of the major growth engines in the market. Increasing numbers of SMEs is one of the major factors driving growth of CRM market in this region. For instance, according to Indian government Economic Survey, 2016, the country had over 19,000 technology-enabled startups in the same year.

Key Companies - Global Customer Relationship Management Market

Some of the major companies in the global customer relationship management market are Oracle Corporation, SAP SE, International Business Machines Corporation, Microsoft Corporation, SAS Institute, Inc., Accenture PLC, Infor, Teradata, Angoss Software Corporation, and Salesforce.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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