Customer Relationship Management Market: Global Industry Analysis and Forecast (2021-2027) Outlook, Share, Trends

Customer Relationship Management Market size was valued at US$ 46.63 Bn. in 2020 and the total revenue is expected to grow at 11.2 % through 2021 to 2027, reaching nearly US$ 98.04 Bn.

Customer Relationship Management Market Overview:

Customer relations management (CRM) is a business strategy that enables businesses to improve existing customer relationships while also quickly engaging new ones. Customer relationship management (CRM) streamlines contacts with customers while also increasing their happiness with the service or product. It not only offers direction and standards for how to lead customer-business interactions, but it also serves as a repository for organizing and tracking all pertinent data. Customer Relationship Management Market To know about the Research Methodology:- Request Free Sample Report

COVID-19 Impact:

The advent of the global COVID-19 epidemic has altered the way businesses operate. Because of the pandemic's lockdown restrictions and work-from-home culture, businesses are focusing more on effective ways to engage with customers in a remote working environment. Companies are expected to adopt and use CRM solutions to better service their customers, increase sales engagement, and improve employee productivity as a result of this.

Customer Relationship Management Market Dynamics:

The increased focus on customer involvement, emerging SMEs, social platforms, and the awareness of exchanging ideas in real time are all major aspects pushing this market. For providing the best in class customer experience, businesses are developing solutions for social monitoring, social listening, social middleware, social management, and social measurement. Consumer Relationship Management is being used not only to boost revenue and improve marketing efforts, but also to increase customer interaction with businesses. According to research, CRM systems are used by 91% of firms with more than ten employees. Sales and marketing teams, as well as customer service and support departments, are progressively incorporating CRM systems into their corporate operations to improve customer experience and, as a result, increase revenue. According to research, 82% of the companies polled utilize CRM systems for sales reporting and process automation. Senior management in a variety of organizations is increasingly looking for effective solutions to handle customer data and make data-informed decisions using actionable insights drawn from unstructured datasets. Additionally, the rapid speed of digital transformation is forcing businesses in a variety of industries to replace their current array of disparate solutions for creating, managing, and enhancing their digital presence with a single CRM system that can serve all purposes and meet all objectives. Technological improvements in the disciplines of business intelligence and embedded analytics, as well as their integration into CRM solutions, are likely to encourage CRM suppliers to improve their products and innovate. However, High CRM software costs, a lack of leadership, growing privacy and security concerns, the absence of the human element, and the possibility of data loss are all key stumbling blocks to the market's growth. Customer Relationship Management Market 1

Customer Relationship Management Market Segment Analysis:

Based on the Deployment Mode, the Customer Relationship Managementmarket is sub-segmented into On-Premises, Cloud and Hybrid. The Cloud segment held the largest market share of 62.2% in 2020. Because of the benefits of the SaaS deployment model, such as high flexibility, scalability, cost-effectiveness, and low hardware maintenance costs, cloud-based solutions have become the norm. Organizations are increasingly opting for cloud-based CRM deployments, which are housed on the vendor's server and can be accessed remotely from any location. This reduces the need for manual upgrades and allows the user to access data from any location without difficulty. Based on the Verticals, the Customer Relationship Managementmarket is sub-segmented into BFSI, Retail, Healthcare, IT & Telecom, Discrete Manufacturing, Government & Education and Others. The BFSI segment held the largest market share of xx% in 2020. Banks and financial institutions utilise CRM systems because they help them create a better customer experience. Customer segmentation, quick connection with purchasers, and constant access to the client database are just a few of the advantages available in CRM software. The demand for sophisticated CRM software and online platforms is growing as the retail industry becomes more competitive, allowing businesses to give outstanding customer-centric services to their customers. Modern CRM solutions that allow for several channels for selling processes, research, and a complete data-based oversight of buyers and their purchasing habits are also becoming more popular. Customer Relationship Management Market 2

Customer Relationship Management Market Regional Insights:

North America held the largest market share of xx% in 2020. North America is becoming a hub for numerous industrial verticals such as healthcare, IT and Telecom, and energy and utilities sector due to increased usage of technological advancement such as machine learning and industrial automation, as well as a huge movement in business toward digital transformation. Customers in these industrial verticals are estimated to be numerous, necessitating the use of customer relationship management software. Asia Pacific is expected to grow at a highest CAGR of xx% in the Customer Relationship Management market during the forecast period. Organizations are investing extensively in the customer relationship management market to sustain growth and enhance efficiency, owing to strong economic growth and continual developments in customer retention and engagement. Also, huge shifts toward digital transformation, cloud deployment, and technical improvement among small and medium firms, as well as continual modernization in marketing and sales strategy in emerging nations, all contribute significantly to market growth. The objective of the report is to present a comprehensive analysis of the global Customer Relationship Management Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also helps in understanding the global Customer Relationship Management Market dynamic, structure by analyzing the market segments and project the global Customer Relationship Management Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Customer Relationship Management Market make the report investor’s guide.

Customer Relationship Management Market Scope: Inquire before buying

Customer Relationship Management Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 46.63 Bn.
Forecast Period 2021 to 2027 CAGR: 11.2 % Market Size in 2027: US $ 98.04 Bn.
Segments Covered: by Component • Software • Services
by Deployment Mode • On-Premise • Cloud • Hybrid
by Hardware • Customer Service • Customer Experience Management • CRM Analytics • Marketing Automation • Salesforce Automation • Others
by Technology • BFSI • Retail • Healthcare • IT & Telecom • Discrete Manufacturing • Government & Education • Others

Customer Relationship Management Market, by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Customer Relationship Management Market Key Players

• Salesforce.com • SAP AG • Oracle Corporation • Microsoft Corporation • Adobe Systems Inc • Amdocs • Convergys Corporation • Huawei Technologies Co. Ltd • Infor Global Solutions, Inc • SAS Institute Inc • SYNNEX Corporation • The Sage Group Plc • Verint Systems Inc • IBM Corporation • SugarCRM • NICE Ltd • IMS Health • NetSuite Inc • ZOHO Corporation • Infusionsoft • Copper CRM, Inc. • Insightly Inc. • Creatio

Frequently Asked Questions:

1] What segments are covered in Customer Relationship Management Market report? Ans. The segments covered in Customer Relationship Management Market report are based on Aircraft Type, Fitment Type, Hardware and Technology. 2] Which region is expected to hold the highest share in the Customer Relationship Management Market? Ans. North America is expected to hold the highest share in the global Customer Relationship Management Market. 3] What is the market size of Customer Relationship Management Market by 2027? Ans. The market size of global Customer Relationship Management Market is expected to reach US $98.04 Bn. by 2027. 4] Who are the top key players in the global Customer Relationship Management Market? Ans. Gogo, Inc., BAE Systems PLC, Panasonic Avionics Corporation, Rockwell Collins, Inc., SITAOnAir, Zodiac Aerospace and Lufthansa Systems GmbH are the top key players in the global Customer Relationship Management Market. 5] What was the market size of Customer Relationship Management Market in 2020? Ans. The market size of Customer Relationship Management Market in 2020 was valued at US $ 46.63 Bn.
1. Global Customer Relationship Management Market: Research Methodology 2. Global Customer Relationship Management Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Customer Relationship Management Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Customer Relationship Management Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Customer Relationship Management Market Segmentation 4.1 Global Customer Relationship Management Market, by Aircraft Type (2020-2027) • Narrow-Body • Wide-Body • Regional Jet 4.2 Global Customer Relationship Management Market, by Fitment Type (2020-2027) • Retrofit • Line Fit 4.3 Global Customer Relationship Management Market, by Hardware (2020-2027) • Antennas • WAPs • Modems • Others 4.4 Global Customer Relationship Management Market, by Technology (2020-2027) • ATG • Ku-Band • L-Band • Ka-Band 5. North America Customer Relationship Management Market(2020-2027) 5.1 Global Customer Relationship Management Market, by Aircraft Type (2020-2027) • Narrow-Body • Wide-Body • Regional Jet 5.2 Global Customer Relationship Management Market, by Fitment Type (2020-2027) • Retrofit • Line Fit 5.3 Global Customer Relationship Management Market, by Hardware (2020-2027) • Antennas • WAPs • Modems • Others 5.4 Global Customer Relationship Management Market, by Technology (2020-2027) • ATG • Ku-Band • L-Band • Ka-Band 5.4 North America Customer Relationship Management Market, by Country (2020-2027) • United States • Canada • Mexico 6. Asia Pacific Customer Relationship Management Market (2020-2027) 6.1. Asia Pacific Customer Relationship Management Market, by Aircraft Type (2020-2027) 6.2. Asia Pacific Customer Relationship Management Market, by Fitment Type (2020-2027) 6.3. Global Customer Relationship Management Market, by Hardware (2020-2027) 6.4. Asia Pacific Customer Relationship Management Market, by Technology (2020-2027) 6.4. Asia Pacific Customer Relationship Management Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Customer Relationship Management Market (2020-2027) 7.1 Middle East and Africa Customer Relationship Management Market, by Aircraft Type (2020-2027) 7.2. Middle East and Africa Customer Relationship Management Market, by Fitment Type (2020-2027) 7.3. Middle East and Africa Customer Relationship Management Market, by Hardware (2020-2027) 7.4. Middle East and Africa Customer Relationship Management Market, by Technology (2020-2027) 7.5. Middle East and Africa Customer Relationship Management Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Customer Relationship Management Market (2020-2027) 8.1. Latin America Customer Relationship Management Market, by Aircraft Type (2020-2027) 8.2. Latin America Customer Relationship Management Market, by Fitment Type (2020-2027) 8.3. Latin America Customer Relationship Management Market, by Hardware (2020-2027) 8.4. Latin America Customer Relationship Management Market, by Technology (2020-2027) 8.5 Latin America Customer Relationship Management Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European Customer Relationship Management Market (2020-2027) 9.1. European Customer Relationship Management Market, by Aircraft Type (2020-2027) 9.2. European Customer Relationship Management Market, by Fitment Type (2020-2027) 9.3. European Customer Relationship Management Market, by Hardware (2020-2027) 9.4. Latin America Customer Relationship Management Market, by Technology (2020-2027) 9.5. European Customer Relationship Management Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Gogo, Inc. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. BAE Systems PLC 10.3. Panasonic Avionics Corporation 10.4. Rockwell Collins, Inc. 10.5. SITAOnAir 10.6. Zodiac Aerospace 10.7. Lufthansa Systems GmbH 10.8. Inflight Dublin, Ltd 10.9. Bluebox Avionics Limited. 10.10. Thales Group SA. 10.11. Inflight Dublin, Ltd 10.12. Lufthansa Systems GmbH 10.13. Panasonic Corporation 10.14. Rockwell Collins Inc. 10.15. SITA OnAir, 10.16. Zodiac Aerospace SA. 10.17. Global Eagle Entertainment inc 10.18. Honeywell International inc 10.19. Burrana Inc. (Digecor, Inc.) 10.20. Astronics Corporation 10.21. Safran Aerosystems 10.22. Viasat, Inc.

About This Report

Report ID 66380
Category Information Technology & Telecommunication
Published Date July 2020
Updated Date Jan 2022
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