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Global CRM Analytics Market was valued US$ 7.98 Bn in 2019 and is expected to grow US$ 16.46 Bn by 2027, at a CAGR of 11.02 % during the forecast period.
Global CRM Analytics Market
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
CRM stands for “Customer Relationship Management.” CRM Analytics is a set of tools that collects and organizes customer interaction data. CRM analytics help in sales performance, customer service, and marketing activities. It helps in understanding customer behavior which includes customer profiles, their buying trends, customer feedback, and others.
CRM analytics market will be a rise in incoming years due to its application to develop custom business decisions in an organization. Also, CRM Analytics is significantly used to create potential marketing campaigns from the valuable customer analysis data mined by such tools, and therefore it is highly demanded in the market. With the rising beginning of e-commerce platforms as a sales channel, therefore the demand for CRM analytics is rising to help to study customer needs and preferences. CRM software adds email, social media, and other platforms to enable marketers to capture every conversation and store the data in the CRM.
Global CRM Analytics Market Drivers:
The CRM Analytics market applications are sales analytics, customer analytics, contact center analytics, marketing analytics, web & social media analytics. The marketing analytics helps the companies to make various campaign programs for customers. Increased competition and need to keep important customers increases the demand for CRM Analytics. There are several other factors such as a rise in big data and having a vision about sales is further pushing this market growth.
Retail Industry hold a higher market share during the forecast period
A number of new players are emerging in the retail market to influence market growth. New players are adopting e-commerce business models like Amazon, making USD 71.84 billion in online sales. In such a competitive retail market, the need for new customer acquisition and holding of the existing customers becomes crucial for retailers. The retail brands are expected to drive sizeable revenues in the market over the forecast period.
The global CRM analytics market is segmented on the basis of geography as North America, Europe, Asia-Pacific, Latin America, and Middle East. North America contributes a major share in the global market. This is mainly due to the growth in data and increased awareness to hold valuable customers. Asia Pacific is following the same trend as it is expected to continue growth in the near future. Growing industries like BFSI, telecommunications, health care, etc. are expected to increase the growth of the global CRM analytics market.
May 2019 - Vodafone Idea Limited announced signing a multi-million-dollar five-year agreement with IBM to deliver an enhanced customer experience to millions of connected consumers and businesses in India. The collaboration will provide Vodafone Idea with a hybrid cloud-based digital platform to enable more close engagement with its over 387 million subscribers (as of December 31, 2018), enhancing business efficiency, alertness, and simplification of its business processes.
The objective of the report is to present a comprehensive analysis of the Global CRM Analytics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global CRM Analytics Market dynamics, structure by analyzing the market segments and project the Global CRM Analytics Market size. Clear representation of competitive analysis of key players by type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global CRM Analytics Market make the report investor’s guide.
Scope of the Global CRM Analytics Market
Global CRM Analytics Market, By Type
• Sales Analytics
• Customer Analytics
• Contact Center Analytics
• Marketing Analytics
• Web & Social Media Analytics
Global CRM Analytics Market, By Deployment
Global CRM Analytics Market, By End User
• Health Care
• Telecom and IT
• Media and Entertainment
• Other End Users
Global CRM Analytics Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global CRM Analytics Market
• Angoss Software Corporation
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• Salesforce.com, Inc.
• SAP SE
• SAS AB
• Teradata Corporation
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