The global SaaS Customer Relationship Management (CRM) market is projected to witness considerable growth during the forecast period. CRM software has its utility in managing a company’s interaction with its current as well as potential customers. The advent of SaaS is a cost-effective way to take advantage of CRM software. Therefore, start-up companies as well as large enterprises are taking leverage of the SaaS CRM to get useful insights related to their potential client. Furthermore, the increasing IT spending by the major end-user of CRM software such as the BFSI sector, IT and telecom, retail and others on the development of cloud computing strategies is a major factor which is contributing towards the growth of the global SaaS CRM market. 

The cloud computing offers several inherent benefits such as scalability, reliability, and high resource availability, and also assists the organization to reduce its overall operational cost. Cloud services eliminated the presence of waiting time which is required to run the application after its deployment, which results in time-saving and more efficient work. Moreover, the rising inclination of organizations towards the adoption of SaaS applications such as CRM, sales management, HRM, and financial management is a major factor that is driving the global SaaS CRM market. However, the concern related to the security of the data is anticipated to hinder the growth of the market during the forecast period.

Segmental Outlook

The SaaS Customer Relationship Management (CRM) market is classified on the basis of end-user. Based on end-user, the market is segmented into Banking, Financial Services, and Insurance (BFSI), retail, healthcare, IT & telecom, and others. Based on end-user, the retail sector is anticipated to hold considerable market share during the forecast period. SaaS CRM with marketing automation has the capability to automate the repetitive tasks in the retail sector which is anticipated to make major attribution towards the growth of this segment. 

In addition, SaaS CRM can be used to optimize marketing efforts across different points in the sales life cycles. Furthermore, the use of such service facilitates the marketing team to get clear visibility of the market at every opportunity to enable them to mark out the journey of a customer from inquiry to sale, which enables them to better understand sales pipeline and potential work coming. Moreover, including customer's information from social networking sites and public domains is possible using CRM, it helps to understand the sentiments of the customer such as their likes and dislikes.

Global SaaS CRM Market Share by End-User, 2018 (%)

Regional Outlook 

The global SaaS CRM market is further segmented on the basis of geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is anticipated to hold a major market share in the global SaaS CRM market during the forecast period. The advanced IT infrastructure of the region is anticipated to offer significant opportunities to the regional growth of the market. The huge adoption of SaaS CRM by the major end-users in the US and Canada are making a considerable contribution towards the growth of the SaaS CRM market in North America. The presence of major market players including Oracle Corp., Microsoft Corp., Salesforce, Inc. in the region is further promoting regional growth of the market. 

Global SaaS CRM Market Growth, by Region 2019-2025

Asia-Pacific will augment with the significant growth rate in the SaaS CRM market 

Asia-Pacific is anticipated to grow at a considerable CAGR during the forecast period. The factors attributing to the growth rate of Asia-Pacific include a significant rise in the adoption of cloud-based technologies along with the establishment of new business entities in the region. China is one of the major players in the SaaS platform, the emerging inclination of small and medium enterprises in China towards the adoption of software as a service to avoid access cost is another factor to drive the growth of the SaaS CRM market in the Asia-Pacific region during the forecast period.  Moreover, the significant presence of end-user industries in the major economies of the region such as China, Japan, and South Korea, have further created the demand for the SaaS CRM in the region which in turn is anticipated to drive the market growth in the Asia-Pacific region.

Market Players Outlook

The key market player operating in the global SaaS CRM software market include Microsoft Corp., Salesforce, Inc., Oracle Corp., Amdocs Group, SAP SE, Adobe Systems Inc., Huawei Technologies Co., Ltd., Sage Technologies, Ltd., Zoho Corp. BV,  and among others. The key market players are actively adopting different growth strategies such as mergers & acquisitions, collaboration, partnerships, and strategic agreements to remain competitive in the market. Product advancement and new product launches are the strategies adopted by the key market players operating the market.

The Report Covers 

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global SaaS CRM market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.