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Gartner finds that CRM is the largest software market in 2017

--In 2017, global customer relationship management software revenue reached nearly $40 billion

2018-05-08 10:09:47 Author: Source:CTI ForumComment:0  Click:


CTI Forum (ctiforum.com) May 8 news (compiler / Lao Qin): According to Gartner's research, customer relationship management has gone beyond database management systems (DBMSs), becoming the largest software market. By the end of 2017, global CRM software revenue reached 39.5 billion U.S. dollars; at the same time, DBMSs revenue reached 36.8 billion U.S. dollars over the same period.
 
Gartner finds that CRM is the largest software market in 2017
According to Gartner research director Julian Poulter, this is just the beginning of the customer relationship management market. He expects that the market will continue to grow in 2018 and beyond. In an interview with Information Age, he said: "In 2018, CRM software revenue will continue to occupy the leading position of all software markets, becoming the fastest growing software market with a growth rate of 16%."
The rise of mobile technology and the emergence of the Internet of Things have led to a growing number of companies investing in customer relationship management, although specific solutions are under the category of leading management, customer tools, and field service management technologies. of. The growth rate in these areas is about 20%.
Poulter told CRM buyers that leadership management is the biggest driver of CRM sales, “integrating business processes and technologies to eliminate the cycle between marketing and direct or indirect sales channels, and driving through improved demand creation, execution, and opportunity management. Higher value opportunities."
Poulter pointed out that other areas such as marketing and sales technology are also growing, and may increase interest in CRM technology in the coming months and years, especially if these solutions are included in the broader CRM suite.
Another trend affecting widespread adoption of CRM is the implementation of the European General Data Protection Regulations (GDPR). The CRM system has a wealth of sensitive data, and cross-CRM tool loopholes may lead to non-compliance with GDPR. To ensure that companies can protect themselves, they may take action to introduce new, more secure solutions to protect data as a better technology growth driver.
In another report, Zion Market research, another research firm, predicts that by 2022, the global customer relationship management (CRM) service market will reach $30.4 billion, a compound annual growth rate of 36%. The company said that this growth is due to people realizing that using new technologies (such as CRM analytics solutions) provides enterprises with an efficient return on investment.
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