Customer Relationship Management (CRM) Software Market Size Grow with a High CAGR- Global Industry Analysis

“A research report on Customer Relationship Management (CRM) Software Market was added by SDKI in its database which discusses the product as well as the scope of its market in detail. The report provides the business clients with an in-depth overview of the market, giving an analysis of the market trends, market size, market value and market growth over the forecast period on a compound as well as on a yearly basis. Further, the market study gives an overview of the industry on the basis of several factors such as the geographical extent, market segmentation, growth drivers and challenges prevalent in the market.

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Global Customer Relationship Management (CRM) Software market is forecast to grow at a CAGR of around 15% The global CRM Software market is driven by the increasing digitalization of enterprises across industry verticals and penetration of cloud technology and various service models. However, data and security concerns and stringent government rules & regulations are restricting the growth of the market.

The global CRM Software market is segmented based on deployment, organization size, application, end-user, and region. Based on deployment, the market can be categorized into cloud-based and on-premises segments. The cloud-based segment is expected to dominate the market over the next few years due to rise in the adoption of CRM Software solutions among various sectors such as healthcare, BFSI, among others. Based on end-user segments, the market can be fragmented into BFSI, Healthcare, Manufacturing, IT & Telecommunication, Media & Entertainment, Energy & Utilities, Retail, Education, Others. Healthcare, Media & Entertainment, and BFSI segments accounted for the largest market shares in 2019, and this trend is expected to continue during the forecast period.

Regionally, the CRM Software market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America is expected to dominate the global CRM Software market majorly due increasing demand for cloud services in the region.

Major players operating in the CRM Software market include, SAP SE, Oracle Corporation, Microsoft Corporation, Adobe Systems, Amdocs, Convergys Corporation, Huawei Technologies Co. Ltd., Infor Global Solutions, Inc., SAS Institute Inc and others. Leading players are developing advanced technologies and launching new services to stay competitive in the market.

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