Key Highlights

• Organizations such as sales and marketing and customer service and support are increasingly integrating customer engagement with intelligence to improve customer service and feedback and build strong relationships with customers. For example, in April 2022, cloud-based software company Salesforce, Inc. BFSI has launched CRM Analytics, providing new capabilities such as AI-driven insights for sales, marketing and support teams across all industries such as retail, IT and telecommunications. Insight search in CRM Analytics helps Salesforce customers discover the datasets, dashboards, and teams most relevant to their research. These advances in CRM solutions and services are likely to drive business growth. Consumers' increasing use of digital devices to communicate with brands and organizations is expected to lead to the growth of the customer relationship management market during the forecast period. According to recent SoftClouds research, nearly 80% of organizations use CRM systems for sales and process automation. It enables brands and organizations to implement effective CRM strategies and deliver instant results by providing a better understanding of purchasing behavior and preferences.

• The market size of the worldwide client management software market surpassed USD XX Billion in 2023, and by 2032, it is projected to reach USD XX billion, boosting at a CAGR of XX%.

• In December 2022, Freshworks Inc., a cloud-based software solution for businesses of all sizes, is offering Freshdesk omnichannel and Freshchat to apparel company Supara to accelerate e-delay copy sales and improve response time to customer questions. These projects will further fuel the growth of the market during the forecast period.

• The demand for customer management software is increasing due to many factors affecting the way businesses are established. First, increased cross-industry competition has led companies to find new ways to maintain and expand their customer base. Account management software provides tools to strengthen customer relationships, increase customer satisfaction, and identify upsell or upsell opportunities, all of which are critical to competitive advantage. Second, the wave of digital transformation has made information the foundation of business operations. Businesses rely on software solutions to efficiently manage, organize and analyze customer data, make informed and strategic decisions, conduct business and drive better sales. In addition, the COVID-19 pandemic has accelerated the global shift to remote work and increased the need for cloud-based customer management software to support remote access and customer collaboration. Finally, as users' expectations for personalized experiences continue to increase, customer management software can help businesses deliver customized services and further support the need for equity for growth and success in today's economy.

Scope of the Software Function Profile

Key Players

• Infor, Inc. (US)

• Infusion Software, Inc. (Keap) (US)

• IBM Corporation (US)

• Microsoft Corporation (US)

• Oracle Corporation (US)

• Salesforce.com, Inc. (US)

• SAP SE (Germany)

• Adobe Systems, Inc. (US)

• Zendesk, Inc. (US)

• HubSpot, Inc. (US)

Segmentation

By Deployment

• Cloud Based

• On-Premises

By Component

• Software Applications

• Solutions & Services

By Organization Size

• Large Enterprises

• Small & Medium Sized Enterprises

By Software Function

• Marketing & Sales Automation

• Lead Generation & Customer Management

• Customer Support & Contact Center

• Reporting & Analytics

• Order Management & Tracking

By Industry

• BFSI

• Retail & E-commerce

• Travel & Hospitality

• Government & Défense

• IT & Telecom

• Transport & Logistics

• Other Industries

What to Expect from Industry Profile

1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Client Management Software market in the world.

2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Client Management Software market.

3. Leading company profiles reveal details of key Client Management Software market players’ global operations, strategies, financial performance & their recent developments.

4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Client Management Software market with forecast for decade by both market share (%) & revenue (USD Million).

Recent Development

• In June 2022, Salesforce.com, Inc. announced the new capabilities of Digital 360, which will help companies execute digital projects and deliver the next generation of digital experience, marketing and business. These capabilities and features provided by CRM packages further fuel the growth of the CRM industry during the forecast period.

• In April 2022, cloud-based software company Salesforce, Inc. BFSI has launched CRM Analytics with new capabilities such as AI-driven insights for sales, marketing and support teams in industries such as retail and IT. Telecommunications and others.

Segment Insights

By Component

Customer service dominated the market with 23.7% revenue in 2023. Key drivers of business growth include the importance of understanding consumer behavior and preferences, as well as promoting brands and affiliates. Use CRM strategies more to deliver the best service instantly. Additionally, consumers' increased use of digital channels to interact with brands and organizations using artificial intelligence and its applications is also expected to support growth during the forecast period. The CRM analytics segment is expected to grow at a significant CAGR of 13.7% and witness significant growth during the forecast period. The increasing use of many platforms that help companies get better results from business data and the integration of analytical resources into CRM solutions are expected to drive the development of this segment. For example, in July 2021, Genesys, a software company that sells customer experience and phone calls to large and medium-sized companies, launched a new tool, including Bot, to enable rapid change in intelligence-based customer experience. development and orchestration, open messaging application programming interfaces (APIs), and development of agents and languages suggest the use of multiple methods. These features provided by the CRM application will strengthen the growth of the focus area during the forecast period.

By Software Function

The demand for marketing and sales automation customer management software is increasing due to its ability to simplify and improve customer relationship management processes. The software enables businesses to rework marketing and sales, thus increasing profitability and productivity. It also provides valuable insights through data analysis, allowing for greater business strategies and personal conversations with customers. As companies realize the importance of a customer-centric approach, the need for such software to manage, support and retain customers is increasing. In a competitive market, these technologies help businesses stay competitive by providing better customer experience, increasing customer loyalty, and increasing revenue, ultimately making it an essential part of daily sales and marketing.

Regional Insights

The demand for customer management software in North America is growing due to several important factors. First, businesses across the country recognize the importance of customer service management to remain competitive and drive growth. Second, the increasing use of digital transformation strategies has made businesses more dependent on customers and data management. Additionally, the increasing demand for remote working solutions, especially during the COVID-19 pandemic, has increased the need for software that provides seamless customer management from all locations. Additionally, North America's strong and diverse market has led to significant investment in CRM technology to improve customer engagement, retention, and performance as a whole.