Market Overview:
The global CRM customer engagement center market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for customer engagement solutions among enterprises of all sizes, and the growing trend of cloud-based and web-based CRM customer engagement centers. North America is expected to hold the largest share of the global CRM customer engagement center market in 2018, followed by Europe and Asia Pacific. However, Asia Pacific is projected to witness the highest CAGR during the forecast period due to rising adoption of digital technologies by businesses in this region.
Product Definition:
A CRM customer engagement center is a centralized location where customers can interact with customer service representatives. The purpose of a CRM customer engagement center is to provide customers with a convenient and efficient way to get help with their questions or concerns. The importance of a CRM customer engagement center is that it helps businesses improve their customer service experience and better meet the needs of their customers.
Cloud Based:
Cloud-based software is a type of software service that provides shared pools of data across multiple computers or devices connected to the internet. The data is stored remotely on digital storage media or remote servers and can be accessed by any authorized user with proper authorization. Cloud-based services offer benefits such as increased efficiency, flexibility, and cost effectiveness in terms of infrastructure costs which are expected to drive the CRM Customer Engagement Center market growth over the forecast period.
Web Based:
The Web Based (WBE) Customer Engagement Center (CEC) is a software-based service that enables enterprises to deliver personalized communications and enhance customer experience. It helps in managing the large volumes of data generated by business processes such as order entry, account management, sales force automation, marketing & promotions and other activities. The WBE CEC offers several benefits such as scalability of communication channels along with cost effectiveness which are expected to drive market growth over the forecast period.
Application Insights:
The large enterprises segment dominated the global CRM customer engagement center market in 2017. This can be attributed to factors such as extensive usage of contact centers and growing demand for advanced customer services. Furthermore, companies operating in multiple markets face different challenges based on their locations which require customized solutions to effectively engage customers. The need for developing a personalized experience is driving enterprises towards adopting cloud-based or web-based CRM systems, thereby resulting in higher adoption among large enterprises than small and medium-sized businesses (SMEs).
The SMEs segment is expected to witness significant growth over the forecast period owing to increasing penetration of social media platforms that provide businesses with an opportunity to connect with existing and potential customers directly through various digital channels without the need for human intervention.
Regional Analysis:
North America dominated the global market in 2017. North America has a large number of small and medium enterprises (SMEs) that are adopting customer engagement centers. The U.S., being the largest economy, dominates the regional market with a share of over 50%. However, Asia Pacific is expected to emerge as the fastest-growing region during the forecast period owing to increasing adoption by Indian companies such as Infosys Ltd., Wipro Ltd., and TCS Corporation; China's Alibaba Group Holding Limited; and Japan's Line Corp. These companies have been expanding their operations across emerging economies such as India, Indonesia, Vietnam among others due to low operational costs coupled with skilled labor availability at affordable cost.
Growth Factors:
- Increased demand for customer engagement solutions as organizations strive to provide better customer experiences and improve customer loyalty.
- The need to improve operational efficiency and effectiveness through the automation of processes and the centralization of data.
- Growing demand for cloud-based CRM solutions as businesses move away from traditional on-premises software models.
- The increasing use of social media channels by customers, which drives the need for social CRM capabilities within customer engagement solutions.
Scope Of The Report
Report Attributes
Report Details
Report Title
CRM Customer Engagement Center Market Research Report
By Type
Cloud Based, Web Based
By Application
Large Enterprises, SMEs
By Companies
Freshworks, Zoho, Zendesk, Salesforce, Oracle, ServiceNow, Vtiger, SAP, SugarCRM, Microsoft, Verint Systems, eGain, Pegasystems, CRMNEXT
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
221
Number of Tables & Figures
155
Customization Available
Yes, the report can be customized as per your need.
Global CRM Customer Engagement Center Market Report Segments:
The global CRM Customer Engagement Center market is segmented on the basis of:
Types
Cloud Based, Web Based
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large Enterprises, SMEs
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Freshworks
- Zoho
- Zendesk
- Salesforce
- Oracle
- ServiceNow
- Vtiger
- SAP
- SugarCRM
- Microsoft
- Verint Systems
- eGain
- Pegasystems
- CRMNEXT
Highlights of The CRM Customer Engagement Center Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud Based
- Web Based
- By Application:
- Large Enterprises
- SMEs
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the CRM Customer Engagement Center Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
CRM Customer Engagement Center is a tool that helps sales and customer service teams manage customer interactions. It includes features such as contact management, lead tracking, and activity monitoring.
Some of the major companies in the crm customer engagement center market are Freshworks, Zoho, Zendesk, Salesforce, Oracle, ServiceNow, Vtiger, SAP, SugarCRM, Microsoft, Verint Systems, eGain, Pegasystems, CRMNEXT.
The crm customer engagement center market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 CRM Customer Engagement Center Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 CRM Customer Engagement Center Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 CRM Customer Engagement Center Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the CRM Customer Engagement Center Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global CRM Customer Engagement Center Market Size & Forecast, 2018-2028
4.5.1 CRM Customer Engagement Center Market Size and Y-o-Y Growth
4.5.2 CRM Customer Engagement Center Market Absolute $ Opportunity
Chapter 5 Global CRM Customer Engagement Center Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 CRM Customer Engagement Center Market Size Forecast by Type
5.2.1 Cloud Based
5.2.2 Web Based
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global CRM Customer Engagement Center Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 CRM Customer Engagement Center Market Size Forecast by Applications
6.2.1 Large Enterprises
6.2.2 SMEs
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global CRM Customer Engagement Center Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 CRM Customer Engagement Center Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America CRM Customer Engagement Center Analysis and Forecast
9.1 Introduction
9.2 North America CRM Customer Engagement Center Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America CRM Customer Engagement Center Market Size Forecast by Type
9.6.1 Cloud Based
9.6.2 Web Based
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America CRM Customer Engagement Center Market Size Forecast by Applications
9.10.1 Large Enterprises
9.10.2 SMEs
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe CRM Customer Engagement Center Analysis and Forecast
10.1 Introduction
10.2 Europe CRM Customer Engagement Center Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe CRM Customer Engagement Center Market Size Forecast by Type
10.6.1 Cloud Based
10.6.2 Web Based
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe CRM Customer Engagement Center Market Size Forecast by Applications
10.10.1 Large Enterprises
10.10.2 SMEs
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific CRM Customer Engagement Center Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific CRM Customer Engagement Center Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific CRM Customer Engagement Center Market Size Forecast by Type
11.6.1 Cloud Based
11.6.2 Web Based
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific CRM Customer Engagement Center Market Size Forecast by Applications
11.10.1 Large Enterprises
11.10.2 SMEs
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America CRM Customer Engagement Center Analysis and Forecast
12.1 Introduction
12.2 Latin America CRM Customer Engagement Center Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America CRM Customer Engagement Center Market Size Forecast by Type
12.6.1 Cloud Based
12.6.2 Web Based
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America CRM Customer Engagement Center Market Size Forecast by Applications
12.10.1 Large Enterprises
12.10.2 SMEs
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) CRM Customer Engagement Center Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) CRM Customer Engagement Center Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) CRM Customer Engagement Center Market Size Forecast by Type
13.6.1 Cloud Based
13.6.2 Web Based
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) CRM Customer Engagement Center Market Size Forecast by Applications
13.10.1 Large Enterprises
13.10.2 SMEs
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 CRM Customer Engagement Center Market: Competitive Dashboard
14.2 Global CRM Customer Engagement Center Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Freshworks
14.3.2 Zoho
14.3.3 Zendesk
14.3.4 Salesforce
14.3.5 Oracle
14.3.6 ServiceNow
14.3.7 Vtiger
14.3.8 SAP
14.3.9 SugarCRM
14.3.10 Microsoft
14.3.11 Verint Systems
14.3.12 eGain
14.3.13 Pegasystems
14.3.14 CRMNEXT
