Customer relationship management (CRM) software are widely used among business professionals to manage a company’s interaction with its current as well as potential customers. Earlier, the CRM software was generally deployed in large enterprises; however, with the advent of the SaaS (Software as a Service), the adoption of CRM software has considerably increased in the start-up companies. The software is gaining significant traction in the corporate sector due to its several beneficial features, which includes customer retention and sales management. Moreover, the software does not require any extra investment or setup, which further increases its preference over other similar software’s available in the market. There are several factors fueling the growth of the global CRM software market, which majorly includes the changing buying pattern of the consumers. The increasing preference of eCommerce sites for shopping purposes is creating opportunities for the CRM software manufacturers to establish new customer network. In July 2016, Salesforce made one of the biggest acquisitions in the CRM software market by acquiring Demandware for around $2.8 billion. The acquisition was purposely made to bolster the company’s sales by providing the CRM solutions to the eCommerce companies.
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In terms of geography, the global CRM software market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Significant growth is projected to witness in Asia-Pacific CRM software market during the forecast period. This is majorly due to the increasing adoption of cloud-based technologies along with the establishment of new business entities in the region. Moreover, the presence of major manufacturing economies, such as China, Japan, and South Korea, have further propelled the demand for CRM software market in Asia-Pacific.
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Market Segmentation
Global CRM Software Market by Deployment Type
• Cloud
• On-Premises
Global CRM Software Market by End-Users
• Banking, Financial Services and Insurance (BFSI)
• Retail
• Healthcare
• IT & Telecom
• Others (Government)
Regional Analysis
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
Company Profiles
• Adobe System Inc.
• Amdocs Group
• Convergys Corp.
• Huawei Technologies Co., Ltd.
• Lithium Technologies, LLC
• Maximizer Software Inc.
• Microsoft Corp.
• Oracle Corp.
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