Published Date : May 16, 2016
ALBANY, New York, May 16, 2016: MarketResearchReports.biz has added a new research report to its repository. The report, titled “Global CRM Software Market With Focus On Cloud Applications (2016-2020),” offers a detailed overview of the global CRM software market and analyzes the significant trends and potential growth opportunities for the market during the period between 2016 and 2020. The key factors impacting the demand for CRM software have been discussed in the report. The report further studies the growth of the global CRM software market across some of the key regions. Profiles of a few major players operating in the market have been included.
To enhance customer experience, organizations are increasingly relying on customer relationship management (CRM) software. CRM software is broadly categorized into open source CRM, cloud-based CRM, and on-premises CRM. With businesses focusing on digital marketing, cloud-based CRM has gained wide popularity as it becomes easier to deliver the CRM software, tools, and data to end-users.
The report points out that the increasing usage of Software as a Service (SaaS) and the rise in enterprise investment in digital marketing have propelled the growth of the global CRM software market. Various initiatives taken by organizations to enhance customer experience, rapid increase in the number of small and medium enterprises (SMEs), and the growing use of CRM software across multiple industries are anticipated to further fuel the growth of the market during the forecast horizon. However, privacy and security concerns, along with issues related to software customization and system integration might hamper the market’s growth. The absence of a core CRM team across organizations is also expected to play spoilsport in the growth of the market.
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The global CRM software market has a huge opportunity to grow with the shift from on-premise solution to cloud-based CRM. The introduction of vertical CRM and mobile CRM, focus on effective cloud CRM solutions for security, and the integration of social media with CRM software will augment the growth of the market in the coming years. A revolution in the wearable devices market and the adoption of bring your own device (BYOD) policies by organizations will lead to increased demand for CRM software.
The report studies the global CRM software market across key regions such as Western Europe, North America, and Rest of the World. North America has been the largest consumer of CRM software, closely followed by Western Europe. During the forecast period, the Rest of the World market will register significant growth owing to the growing demand from countries in Asia Pacific.
Describing the competitive landscape, the report profiles some of the key players in the global CRM software market such as Salesforce.com, SAP, Oracle Corporation, Verint Systems Inc., and International Business Machine Corporation. The report offers detailed information about the key players including their financial overview, business overview, and business strategies.
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