The new report by Expert Market Research titled, ‘Global Software as a Service Customer Relationship Management Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Global Software as a Service Customer Relationship Management market, assessing the market based on its segments like type, company size, application and major regions like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 12.5%
The global Software as a Service Customer Relationship Management market witnessed decent growth in the historical period, due to increased awareness among the end-use consumers and its subsequent increase in demand.
Industry Definition and Major Segments
Software as a service (SaaS) client connection Management operates in the cloud, which means that the software is not housed on the company’s server; rather, it is hosted and managed externally by the provider, with 24/7 access and no installation or maintenance fees. It also connects all the business systems.
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Based on type, the market can be categorised into the following:
• Operational CRM System
• Analytical CRM Systems
• Collaborative CRM Systems
Based on company size, the market can be bifurcated into the following:
• Large Enterprises
• Small and Medium Enterprises
Based on application, the market can be segmented into the following:
• Telecom and IT
The regional market for Software as a Service Customer Relationship Management includes:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Globally, North America owns the largest market share, and the region will dominate the market in the forecast period. This can be attributed to huge presence of key customers in the region. Asia Pacific is anticipated to grow with the fastest CAGR. With increased awareness in benefits of SaaS CRM, the need for this market will be on the rise and thus, the region is anticipated to lead the global market’s CAGR growth in the forecast period.
CRM solutions have become more affordable and accessible to SMEs as cloud computing and technology delivery as a service (SaaS) have grown in popularity. Customer relationship management (CRM) as a service is critical for firms in a variety of industries because it aligns system efficiencies by optimising marketing and sales operations. SaaS CRM has also offered SMEs with a framework for integrating numerous business tasks such as sales management, customer management, advertising management, and productivity management into a single application. Regulation and risk management can be streamlined using SaaS CRM. It can better manage business activities using a centralised management system. As a result, SMEs are embracing it in large numbers. One of the primary drivers of the market growth of software as a service customer relationship management in the forecast period, is the increasing usage of SaaS CRM by SMEs (CRM).
Key Market Players
The major players in the global market include Adobe Inc. (NASDAQ: ADBE), Microsoft Corporation, Oracle Corporation, Salesforce.com Inc., SAP SE , among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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