Global Customer Relationship Management (CRM) Platform Market by Type (On-premise, Cloud), By Application (BFSI, Retail, Healthcare, IT & Telecom, Manufacturing, Government & Education, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global customer relationship management (CRM) platform market is expected to grow from USD 9.02 billion in 2018 to USD 19.48 billion by 2030, at a CAGR of 10.8% during the forecast period. The growth of the CRM platform market can be attributed to the increasing demand for cloud-based CRM platforms and the growing need for customer engagement solutions among organizations across different industries. On-premise CRM platforms are expected to hold a larger share of the global CRM platform market during the forecast period, owing to their low cost and easy customization capabilities as compared with cloud-based CRM platforms. However, cloud-based CRM platforms are expected to grow at a higher rate than on-premise CRM platforms during the forecast period, due to their lower costs, scalability, and ease of deployment and use. The BFSI sector is expected to account for the largest share ofthe globalCRMp latformmarket in2018 .This can be attributedto th egrowing needfor crm so lutionsamong banksand other financial institutions t o improv e customer service an dengagemen t .



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Product Definition:

Customer Relationship Management (CRM) Platform is a software that helps businesses manage their customer data and interactions. It allows businesses to track customer interactions across different channels, such as phone, email, or social media. CRM platforms also allow businesses to automate tasks related to customer management, such as sending follow-up emails or reminders. CRM platforms can help businesses improve their customer relationships and increase sales.

On-premise:

On-premise is a term used for referring to computer software and hardware installed and used on the customer's premises. The software is generally installed on the end user's computers, servers, laptops or mobile devices. It can also be accessed from home or office using various methods such as network installation or direct connection. On-premise solutions are customized by companies to meet their specific business requirements which include inventory control systems, order management systems, supply chain management among others.

Cloud:

Cloud computing is a shared network of connected devices through which users can access data at any place and from any device. Cloud technology provides shared resources that can be used by multiple customers simultaneously. It also helps to store large amounts of data on digital storage for quick accessibility even without the physical presence of the user.

Application Insights:

The banking, financial services, and insurance (BFSI) segment accounted for the largest market share in 2017. The growth of this segment is attributed to the increasing adoption of technologies such as big data analytics and cloud computing to improve customer engagement. Furthermore, growing penetration of smartphones has enabled banks to offer enhanced digital services to customers. As a result, companies operating in this sector are investing significantly in CRM solutions. For instance, Citi bank launched a new mobile-banking app named ¢â‚¬Å“Citifinancial¢â‚¬ which offers personalized experiences based on customers¢â‚¬â„¢ data requirements for managing their accounts effectively.

Retailers are also adopting these platforms extensively owing to various benefits offered by them such as improved customer engagement through advanced marketing campaigns and personalization features that enable retailers deliver an exceptional experience to their customers by anticipating their needs.

Regional Analysis:

North America dominated the global market in 2017. The region is expected to retain its dominance throughout the forecast period owing to high demand for customer relationship management software and increasing implementation of cloud-based solutions. Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period, owing to improving economic conditions in emerging countries such as India and China. Growing investments by governments in developing economies coupled with increased spending on consumer electronics are some factors driving growth of this region’s market. Additionally, growing adoption of mobile phones and tablets has led vendors operating in this space to develop applications that can leverage these devices' capabilities, thus creating significant opportunities for revenue generation through new product development activities over the next six years or so (until 2030).

Growth Factors:

Increasing demand for CRM platforms from small and medium-sized businesses (SMBs) due to the growing need to manage customer relationships effectively.
The increasing trend of cloud-based CRM deployments, which is helping to drive down the overall cost of ownership and making CRM more accessible to a wider range of organizations.
The growing popularity of social media, which is providing new opportunities for organizations to interact with their customers and build stronger relationships.
The increasing use of mobile devices, which is enabling sales and customer service personnel to access customer data anywhere at any time.
The rising demand for big data analytics, which is helping companies extract more value from their customer data by identifying patterns and trends that can be used to improve marketing campaigns, product development efforts, etc


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Scope Of The Report
Report Attributes
Report Details
Report Title
Customer Relationship Management (CRM) Platform Market Research Report
By Type
On-premise, Cloud
By Application
BFSI, Retail, Healthcare, IT & Telecom, Manufacturing, Government & Education, Others
By Companies
Salesforce, Oracle, SAP, Adobe Systems, IBM, Genesys Telecommunications Laboratories, Microsoft, Nice Systems, Verint Systems Inc., Pegasystems, IQVIA
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
215
Number of Tables & Figures
151
Customization Available
Yes, the report can be customized as per your need.

Global Customer Relationship Management (CRM) Platform Market Report Segments:
The global Customer Relationship Management (CRM) Platform market is segmented on the basis of:
Types
On-premise, Cloud
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
BFSI, Retail, Healthcare, IT & Telecom, Manufacturing, Government & Education, Others
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:
Salesforce
Oracle
SAP
Adobe Systems
IBM
Genesys Telecommunications Laboratories
Microsoft
Nice Systems
Verint Systems Inc.
Pegasystems
IQVIA



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Highlights of The Customer Relationship Management (CRM) Platform 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:
On-premise
Cloud
By Application:
BFSI
Retail
Healthcare
IT & Telecom
Manufacturing
Government & Education
Others
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 Customer Relationship Management (CRM) Platform 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.
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Correctly Positioning New Products
Market Entry Strategies
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Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
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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

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