Global CRM market: Healthy and growing

Global CRM market: Healthy and growing

Julie Pearl Published on May 25, 2015

human-figures-in-backdrop-of-numbers-and-letters-2
Gartner recently released the 2014 edition of its global market share study on customer relationship management software, which has generally positive insights about the CRM market.

The research firm showed how much growth the well-established market displayed in the last year, with investments reaching $23.2 billion in 2014—a rate that is 13.3% higher than 2013’s 20.4 billion.

human-figures-in-backdrop-of-numbers-and-letters

The best kind of growth that the CRM market experienced, according to Gartner’s research vice president Joanne Correia, happened organically into new markets. “Large vendors leveraged their acquisitions to extend their position in new markets and to enrich the depth of their current feature sets in 2014,” she said.

Gartner’s list of top 10 CRM software vendors for 2014 was led by Salesforce, SAP, Oracle, Microsoft, and IBM. Revenues of the top five accounted for $14 billion or more than 60% of the overall CRM spending.

Along with the market, competition among big vendors and within smaller enterprises is also growing. Correia added that market consolidation continues and that “price wars started quickly, as large vendors fought to keep their installed base from moving to other vendors and to stop the descent of their maintenance revenue.”

Despite that, observers are positive for the pace that CRM will set in the foreseeable future. The industry doesn’t expect any disruption to erupt from new technology or emerging players, since continuous growth at a healthy pace is the most likely course that CRM will take.

As one of Open Access BPO's content writers, Julie Pearl shares her BPO knowledge through her blog posts, research papers, and other resources. She writes about outsourcing news and call center management tips and insights.

Leave a Reply

JOIN US ON FACEBOOK
Open Access BPO
Open Access BPO2 days ago
Companies delegate some of their processes to #CallCenter service providers to save time and resources. However, new businesses. such as #startups, should be careful of which tasks to outsource to ensure success: https://zcu.io/xLvY

#WeSpeakYourLanguage #Outsourcing #BPO
Open Access BPO
Open Access BPO3 days ago
We hope you have a fun and safe time with your loved ones wherever you plan to spend Thanksgiving this year. Happy #Thanksgiving!

#WeSpeakYourLanguage #OAHolidays
Open Access BPO
Open Access BPO4 days ago
Every entrepreneur's dream is to grow beyond his own shores, but how do you know if you're up to the challenge? Look out for these signs before taking your first step into international #expansion: https://zcu.io/Safk

#WeSpeakYourLanguage #Startup #Offshore #Outsourcing
Open Access BPO
Open Access BPO6 days ago
High employee turnover costs money and resources. It also jeopardizes your #brand reputation. One way for #CallCenters to prevent all these from happening is to build an effective #CareerDevelopment program.

Learn more: https://zcu.io/XdNU

#WeSpeakYourLanguage
Open Access BPO
Open Access BPO1 week ago
#Thanksgiving is just a week away. #Ecommerce companies must suit up to face the onslaught of shoppers on one of the biggest shopping weekends of the year.

Here's how: https://zcu.io/4yzf

#WeSpeakYourLanguage #CustomerService #CX
Open Access BPO
Open Access BPO2 weeks ago
Consumers still think the best way to resolve their #CustomerService issues is via #email, even with the rise of new support channels. Follow these tips to maximize the advantages of providing effective #EmailSupport: https://zcu.io/3Si0

#WeSpeakYourLanguage #CallCenter