Customer relationship management (CRM) software are widely used among business professionals to manage a company’s interaction with its current as well as potential customers. Earlier, the CRM software was generally deployed in large enterprises; however, with the advent of the SaaS (Software as a Service), the adoption of CRM software has considerably increased in the start-up companies. The software is gaining significant traction in the corporate sector due to its several beneficial features, which includes customer retention and sales management. Moreover, the software does not require any extra investment or setup, which further increases its preference over other similar software’s available in the market. There are several factors fueling the growth of the global CRM software market, which majorly includes the changing buying pattern of the consumers. The increasing preference of eCommerce sites for shopping purposes is creating opportunities for the CRM software manufacturers to establish new customer network. In July 2016, Salesforce made one of the biggest acquisitions in the CRM software market by acquiring Demandware for around $2.8 billion. The acquisition was purposely made to bolster the company’s sales by providing the CRM solutions to the eCommerce companies.

In terms of geography, the global CRM software market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Significant growth is projected to witness in Asia-Pacific CRM software market during the forecast period. This is majorly due to the increasing adoption of cloud-based technologies along with the establishment of new business entities in the region. Moreover, the presence of major manufacturing economies, such as China, Japan, and South Korea, have further propelled the demand for CRM software market in Asia-Pacific.

The key market player operating in the global CRM software market include Oracle Corp., Salesforce.com, Inc., Microsoft Corp., Amdocs Group, Convergys Corp., SAP SE, SAS Institute Inc., Synnex Corp., and Huawei Technologies Co. Ltd. The presence of a number of CRM software developers has intensified competition in the market, owing to which, the market players adopt several strategies to mark their prominent position in the global market. For instance, in June 2019, Salesforce.com, Inc. has acquired Tableau Software, an analytics platform-based company. As the Salesforce has strong customer engagement, while the Tableau works on customer requirement understanding; therefore, the coupling of both the players would result in advanced product launching.

Research Methodology

The market study of the global CRM software market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog

The report is intended for CRM software service providers for overall market analysis and competitive analysis. The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

Market Segmentation:

1. Global CRM Software Market Research and Analysis by Deployment Type
2. Global CRM Software Market Research and Analysis by End-User

The Report Covers:

• Comprehensive research methodology of the global CRM software market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global CRM software market.
• Insights about market determinants which are stimulating the global CRM software market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players