San Jose, California (PRWEB) October 23, 2013
Follow us on LinkedIn - Customer relationship management (CRM) is emerging as one of the most effective approaches for creating and maintaining strong customer relations that can help companies expand their business. CRM takes the art of customer relations to a new high by not only helping companies build profitable long lasting relationships with new customers but also target right products and services to existing customers. Major factors driving the market for CRM software include the development of integrated CRM solutions, CRM analytics and social CRM. Emergence of low-cost cloud-based SaaS CRM is helping increase adoption among SMBs.
Social CRM and CRM analytics are expected to witness robust growth in the coming years. The emergence of social media platforms such as online user forums, web communities, public social community platforms such as Oracle Web Center, Jive and Lithium, and social networking sites such as LinkedIn, Facebook and Twitter, has opened a world of possibilities for handling customer relationships. Besides providing a medium for exchanging text messages and media files, social media is becoming an extremely potent tool for consumers to voice their opinion about companies and their products. Businesses are therefore now focusing on keeping up with trends in social media and are investing in solutions that help them efficiently monitor consumer interactions on such sites. Against this backdrop, Social CRM defined as integration of social media with customer relationship management (CRM) strategies, is growing in popularity as companies attempt to bridge social media analytics with conventional CRM systems.
Another major factor driving growth is the emergence of cloud based SaaS CRM solutions, which are defined as CRM solutions offered as a service over the Internet. On-demand cloud based CRM software solutions are poised to grow in popularity as enterprises increasingly opt for hybrid solutions and focus on supplementing in-house deployments with on-demand cloud solutions. Key benefits of SaaS CRM driving its adoption include low costs, reduced Total Cost of Ownership (TCO) as compared to on-premise CRM, faster and easier implementation, reduced upfront capital expenditure, and increased business agility. Increasing adoption of mobile CRM is also benefiting market growth. Enterprise mobility is gaining ground the world over and organizations are now continuously prioritizing access of CRM data on mobile devices to enable sales and customer service teams to perform effectively and efficiently.
As stated by the new market research report on Customer Relationship Management (CRM) Software, On-Premise CRM represents the largest product segment in the global market. SaaS CRM represents the fastest growing segment with a projected CAGR of 16% over the analysis period. The United States represents the largest regional market worldwide, while Asia-Pacific is forecast to emerge as the fastest growing market. Growth in underserved markets like Asia-Pacific and Latin America will be driven by the rapid establishment of new enterprises, changing consumer buying patterns, and increasing adoption among the SMBs. Also, while professional and technical services, financial services, manufacturers, IT, telecom and retailers have been early adopters of CRM software, public sector, healthcare, Oil & Gas, Power, Energy and Utilities, and academia, will emerge as lucrative end-users of CRM software.
Major players in the market include 37Signals LLC, Adapt Software Applications Inc., Adobe Systems Incorporated, Amdocs Inc., Aplicor Inc., Aptean, Cegedim, Concursive Corporation, Convergys Corp., Huawei Technologies Co., Ltd., International Business Machines Corporation, Infor Global Solutions Inc., Maximizer Software Inc., Microsoft Corporation, NetSuite Inc., Oracle Corp., The Sage Group plc, Salesforce.com Inc., SAP AG, SAS Institute Inc., Selligent SA, SplendidCRM Software Inc., SugarCRM Inc., Vtiger, WebCRM, and ZOHO Corporation Pvt Ltd., among others.
The research report titled “Customer Relationship Management (CRM) Software: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for Customer Relationship Management (CRM) Software in US$ Million for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, India, South Korea and Rest of Asia-Pacific), Latin America (Brazil and Latin America) and Rest of World. Major segments analyzed include On-Premise CRM and SaaS CRM. Key functional areas analyzed in the report include Sales Force Automation, Customer Support, Marketing Automation, and e-commerce.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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