Wednesday 1 May 2013
The global customer relationship management (CRM) software market witnessed growth of 12.5 per cent during 2012, a new study has indicated.
Research conducted by Gartner revealed that industry revenues increased from $16 billion (£10.3 billion) in 2011 to $18 billion last year, as more businesses sought assistance with their customer acquisition and retention strategies.
Joanne Correia, vice president at the IT analyst, said competition among CRM software vendors really heated up in 2012, as major players continued to vie for broader market penetration internationally and more widespread adoption within mid-size to large enterprises.
"Market growth in 2012 was three times the average for all enterprise software, highlighting how CRM is at the eye of the Nexus of Forces storm," she stated.
Demand for CRM Software-as-a-Service increased in particular, representing 40 per cent of the overall CRM software market.
"Organisations of all sizes sought easier-to-deploy alternatives to replace legacy systems, as net-new applications or to provide alternative complementary functionality," Gartner stated.
Microsoft witnessed a 26 per cent growth rate within the sector between 2011 and 2012. To find out more about the firm's customer relationship management solutions, click here.
Posted by Jenny Arthur