Global SaaS Customer Relationship Management (CRM) Market 2019-2023
Global SaaS Customer Relationship Management (CRM) Market: About this market
SaaS customer relationship management (CRM) is a cloud-and subscription-based CRM software used for managing enterprise relationships with customers. Technavio’s SaaS customer relationship management market analysis considers sales from retail, banking, financial services, and insurance (BFSI), manufacturing, telecom and IT, healthcare, and other end-users. Our analysis also considers the sales of SaaS customer relationship management in APAC, Europe, MEA, North America, and South America. In 2018, the retail segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing adoption of SaaS CRM and expansion of retail and e-commerce industry across the world will play a significant role in the retail segment to maintain its market position. Also, our global SaaS customer relationship management market report also looks at factors such as increasing adoption of SaaS CRM by SMEs, increasing adoption of cloud-based offerings, and increasing adoption of SaaS CRM by media sector. However, data security concerns, issues related to the integration of SaaS CRM, and availability of open-source CRM software may hamper the growth of the SaaS customer relationship management industry over the forecast period.
Global SaaS Customer Relationship Management (CRM) Market: Overview
Increasing adoption of SaaS CRM by SMEs
CRM applications are becoming more affordable and accessible to SMEs due to the growth of cloud computing, along with SaaS CRM. SaaS CRM is becoming essential for the majority of enterprises to improve their marketing and sales operations and align process efficiencies. Increasing adoption of SaaS CRM by SMEs for better management of their business operations with improved collaborations and productivity will lead to the expansion of the global SaaS customer relationship management market at a CAGR of over 14% during the forecast period.
Issues related to the integration of SaaS CRM
SaaS CRM systems that support sales management must be integrated with ERP systems, accounting applications, custom billing applications, and back-office applications. All these applications are integrated at an enterprise level and not integrating these applications results in an increase in the number of manual processes. This can lead to data synchronization issues that create multiple data repositories. These issues are expected to have a negative impact on the overall market growth.
For the detailed list of factors that will drive the global SaaS customer relationship management (CRM) market during the forecast period 2019-2023, click here.
With the presence of a few major players, the global SaaS customer relationship management (CRM) market is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading SaaS customer relationship management (CRM) companies, that include Adobe Inc., Microsoft Corp., Oracle Corp., Salesforce.com Inc., and SAP SE.
Also, the SaaS customer relationship management market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Adobe Inc., Microsoft Corp., Oracle Corp., Salesforce.com Inc., and SAP SE.
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