Customer Relationship Management (CRM) market set to nearly triple by 2032

From GlobeNewswire: 2025-03-19 10:00:00

The Customer Relationship Management (CRM) market, valued at USD 80.01 billion in 2023, is set to reach USD 248.48 billion by 2032, growing at a CAGR of 13.45%. Major players include Salesforce, Microsoft, SAP, Oracle, Adobe, and more. CRM growth is fueled by compliance needs, privacy laws, and personalized solutions.

The CRM market is experiencing strong growth driven by personalization, cloud adoption, and mobile technology. Key factors include customized customer experiences, AI, ML, big data analytics, and cloud-based offerings. SMEs are increasingly relying on CRM systems, with 52% reporting improved sales outcomes.

Software dominates the CRM market, holding a 74.8% share in 2023, with cloud-based solutions leading the way. The service segment is expected to see the fastest growth due to demand for implementation, customization, and consulting services. Cloud-based solutions offer scalability, cost-efficiency, and remote accessibility.

Cloud-based CRM solutions hold a 58.7% market share in 2023, with on-premise CRM projected for rapid growth. Customer service accounts for 24.2% of the market share, with CRM analytics expected to achieve the fastest growth. The retail sector leads the CRM market, while the IT & Telecom sector is poised for rapid growth. E-commerce and omnichannel strategies are driving the integration of CRM with platforms, apps, and social media for better customer experiences and sales. The IT & Telecom sector expects the fastest growth fueled by automation and CRM adoption. North America leads the CRM market, but Asia Pacific is projected to grow rapidly from 2024 to 2032.



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