Global CRM Software Market Overview: 2022-2027

Base Year: 2021

Historical Years:    2017-20

Forecast Years: 2022-2027

The Global Customer Relationship Management (CRM) Software Market is projected to grow at a CAGR of around 14.8% during the forecast period, i.e., 2022-27. 

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Global CRM Software Market Dynamics: 2022-2027

Market Dynamics:

Key Driver: Integration of AI into CRM Software

The burgeoning demand for Artificial Intelligence (AI)-based CRM software is due to the rapid adoption of SaaS-based solutions and the rising number of AI-based product offerings by technology providers globally. Integrating AI into CRM solutions helps improve customer engagement, sales insights, and social networking. In the aftermath, it results in the increased adoption of point solutions, expansion in computing & analytical abilities, & the surging adoption of the SaaS delivery model. Furthermore, advancements in AI, such as Machine Learning (ML), Natural Language Processing (NLP), and Deep Learning, are some techniques contributing to the Global CRM Software Market growth.

In addition, AI-based CRM solutions eliminate repetitive & unproductive tasks, including data entries, and other time-consuming administrative functions, since they offer greater bandwidth for customer services & support functions. Likewise, AI-enabled chat & email bots ensure that customers get quick responses & directions. The increasing advances in AI have paved the way for technologies to analyze voice & text in real-time, which helps agents effectively serve prospective & existing clients.

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Global CRM Software Market (2022-30): Segmentation Outlook

The market report has segmented the market into the following categories:

By End User

-Healthcare

-E-commerce and Retail

-BFSI

-IT and Telecom

-Government

-Others (Media, Energy and Utility, Transportation, etc.)

By Enterprise Size

-Small and Medium Scale Enterprise

-Large Scale Enterprise

Of both, Large-scale enterprises held a considerable share in the Global CRM Software Market during 2017-20.

By Application

-Salesforce Automation

-Customer Service

-Marketing Automation

-Social Media Monitoring

-Others (Lead Generation, Integration, etc.)

By Deployment Model

-Cloud

-On premise

-Hybrid

By Region

-North America

-South America

-Europe

-Middle East and Africa

-Asia-Pacific.

Of all regions globally, Europe showed significant market growth during 2017-19,

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Top Companies Operating in the Global CRM Software Market:

Aurea Software, Inc,. Infor, Inc, Microsoft Corporation, Oracle, Salesforce, Pegasystems, SAP, SAGE Group Sugar Customer Relationship Management (CRM), Zoho Corporation, HubSpot, NetSuite, IBM Corporation, Copper Customer Relationship Management (CRM), Inc. ,Adobe System Inc..

Recent Developments in the Global Customer Relationship Management (CRM) Software Market

• In 2021, Salesforce launched Health Cloud 2.0, designed to empower businesses & governments to deliver better health & safety to their employees, customers, & communities. Furthermore, as part of Health Cloud 2.0, the company introduced Dreampass to help provide safer events.

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