2014-02-14 17:09:01 - Global Customer Relationship Management Software Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global CRM software market (Customer Relationship Management) is to grow at a CAGR of 9.09 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increased demand of CRM software from SMEs. The market has also been witnessing increased adoption across on-demand CRM Software Sub-segments. However, increased integration of new tools and workflow into existing CRM Software could pose a challenge to the growth of this market.
The Sales Automation sub-segment is the major revenue contributor to the On-demand CRM Software segment. The advantages of quick deployment and simplicity of configuration for sales administrators make it an attractive substitute for on-premise solutions. The Sales Automation sub-segment will remain one of the largest contributors
to the On-demand CRM Software segment during the period of 2012-2016, representing over 40 percent of on-demand software revenue in the CRM Software market.
Furthermore, the On-demand Marketing Automation sub-segment is expected to reach around US$900 million in revenue by 2016, growing at a CAGR of 24 percent during the period 2012-2016. On-demand solutions make it easy for firms to obtain new modules, sites, and functionalities, because they just need to turn on new logins or features. In addition, the need for technical support staff is eliminated, as these tasks are performed by the on-demand vendors. Help desk staff are also eliminated because of its improved usability with the help of training, built-in tutorials, and help files. Therefore, there is increased demand across various sub-segments of the On-demand CRM Software segment, which is expected to drive the growth of the On-demand CRM Software segment in the future.
One of the major drivers for the Global CRM Software market is the increasing demand from SMEs. CRM software for SMEs is a contemporary way to increase revenue, improve customer service and satisfaction, and to reduce the cost of acquiring customers. With these significant benefits associated with it, an increasing number of SMEs are adopting CRM software.
The complexity involved in the tools and workflows of CRM software is one of the major challenges in this market. Recently, CRM software has been developed to include deal tracking, territories, opportunities, and sales pipeline. This increase in the scope of CRM software has led to an increase in the complexity involved in its tools and workflows.
The key vendors dominating this market space include Oracle Corp., SAP AG, Salesforce.com Inc., and Microsoft Corp. The other vendors mentioned in the report are Adobe Systems Inc., Amdocs Ltd., Aplicor LLC, Cegedim SA., CDC Software Corp., IBM Corp., Infor Global Solutions, LongJump CRM, NetSuite Inc., Sage Software Inc., SAS Institute Inc., SugarCRM Inc., and ZohoCRM Inc.
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