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CRM: Continued Strong Growth
Revenues for the global customer relationship management (CRM) software market reached $20.4 billion in 2013, up from $18 billion in 2012, according to research giant Gartner.
Rebecca Wettemann, VP research at Nucleus Research, said that “CRM is not just for sales and marketing anymore. The data is more actionable and current than on aging ERP apps.”
41 percent of the CRM market is now Software as a service (SaaS). SaaS delivery has become popular because it is easier to deploy and more easily reached by remote users.
Media and the IT service industry are the biggest users of CRM. Gartner said that these industries are strong users of call center technology and analytics for improving customer experience. In second place is manufacturing, businesses that use CRM for product and channel management. In third is banking and securities, businesses that use CRM to help them upsell their financial products.
According to Gartner, the top five CRM vendors are salesforce.com, SAP, Oracle, Microsoft and IBM. The combination of revenues from these five vendors is more than 50 percent of the entire market.
Ed Thompson, Gartner analyst , said that “Salesforce.com and Microsoft have many hundreds of industry variants built on top of their applications by partners… Gartner covers perhaps 450 CRM vendors, but we think there are more than 900 – many of which are industry specialists.”
Joanne Correia, research vice president at Gartner, said that “high levels of end-user investment in digital marketing and customer experience initiatives were the primary growth drivers of the market in 2013. CRM will be at the heart of digital initiatives in coming years. This is one technology area that will get funding because digital business is critical for companies to remain competitive.”
