Global SaaS Customer Relationship Management (CRM) Market Size By Application (Retail, Manufacturing, Telecom And IT), By Competitive Landscape, By Geographic Scope And Forecast

SaaS Customer Relationship Management (CRM) Market Size And Forecast

SaaS Customer Relationship Management (CRM) Market size was valued at USD 47.71 Billion in 2024 and is projected to reach USD 156.98 Billion by 2031, growing at a CAGR of 12.93% during the forecast period 2024-2031.

The growing adoption of SaaS CRM by Small and medium-sized enterprises and the rising adoption of cloud-based offerings is the factor driving the market growth of the market. The Global SaaS Customer Relationship Management (CRM) Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global SaaS Customer Relationship Management (CRM) Market Definition

SaaS stands for Software as a Service, or cloud-based software. SaaS is used to manage corporate relationships with customers. SaaS runs on a cloud server. Software as a Service is maintained, hosted, and operated by the software provider. This is convenient for your business because you don’t have to spend more capital on your data storage solution. Most SaaS is a subscription-based model. Sales of SaaS CRM analytics from retail, banking, telecommunications, and other industries. The latest SaaS software is cross-platform, providing 24/7 access to corporate data. This means that users can see the same data on devices such as laptops, tablets, and mobile phones.

Global SaaS Customer Relationship Management (CRM) Market Overview

The primary factors driving the market growth are the growing adoption of SaaS CRM by Small and medium-sized enterprises and the rising adoption of cloud-based offerings. The growing demand for cloud-based CRM solutions is due to their low cost and ease of implementation. SMEs’ increased adoption of SaaS CRM is due to its scalability, flexibility, and affordability. There is an increasing need to manage customer data and interactions across channels to improve customer engagement.

The rising digital transformation trend in enterprises will enhance the demand for CRM solutions. These benefits will encourage companies around the globe to adopt cloud-based applications. Adopting SaaS applications such as CRM, sales management, HRM, and financial management as an investment in cloud computing strategies increases, which will increase the market growth of the market.

Global SaaS Customer Relationship Management (CRM) MarketSegmentation Analysis

The Global SaaS Customer Relationship Management (CRM) Market is Segmented on the basis of Application and Geography.

SaaS Customer Relationship Management (CRM) Market, By Application

• Retail
• BFSI – Banking, financial services, and insurance
• Manufacturing
• Telecom and IT
• Others

Based on Application, the market is segmented into Retail, BFSI – Banking, financial services, and insurance, Manufacturing, Telecom and IT, and Others. The BFSI – Banking, financial services, and vertical insurance segment holds a large number of shares in the market because it is a rapid change towards digitalization and requires customer-specific software. Growing online banking services can also stimulate the demand for software to attract and retain loyal customers, which is the factor that boosts market growth.

SaaS Customer Relationship Management (CRM) Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

On the basis of Geography, the Global SaaS Customer Relationship Management (CRM) Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The North American region holds a large number of shares in the market because of the increasing usage of public cloud services by enterprises and the need to analyze customer information. In addition, the number of companies is increasing in various industries such as BFSI, telecommunications and IT, healthcare, retail, and other end-users, which is the factor that boosts the market growth.

Key Players

The “Global SaaS Customer Relationship Management (CRM) Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are SAP, Oracle, Salesforce.com, Amdocs, IBM, Lithium, Jive Inc., ASSA ABLOY, and Google.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Collaborations, and Agreements

• In December 2021, Freshworks Inc. offered Freshdesk Contact Center to 7-Eleven, a global retail chain. The solution will quickly resolve customer inquiries and provide regular customers and online shoppers with the same in-store conveniences. (AI).
• In November 2020, Microsoft Corporation teamed up with C3.ai and Adobe Systems, Inc. to develop sophisticated AI-powered CRM solutions. Forecasting skills are supposed to improve with this upgraded offering.

Product Development

• In June 2021, Salesforce.com, Inc. launched new capabilities across digital 360, with the goal of assisting businesses in boosting their digital activities and delivering the next generation of digital experiences, commerce, and marketing.

Product Launch

• In May 2020, Bigin, a CRM software for SMEs, was launched by Zoho Corporation Pvt. Ltd. SMEs will also be able to make and receive customer calls from afar, as well as create multiple customer pipelines, with the launch. SAP SE, meanwhile, launched SAP Sales Cloud Solution, which is integrated with Microsoft Teams. Additionally, users will be able to quickly access sales data and customer information from Microsoft Teams. Freshworks Inc. also rolled out Freshdesk Contact Center to a 7-Eleven location, a global retailer.

Report Scope

Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

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