LONDON--(BUSINESS WIRE)--The global SaaS customer relationship management (CRM) market is expected to post a CAGR of more than 14% during the period 2019-2023, according to the latest market research report by Technavio. However, the growth momentum of the market will decelerate in the coming years because of the decrease in year-over-year growth.
SaaS CRM has become essential for enterprises across the retail, healthcare, BFSI, and telecom and IT sector to improve their marketing and sales operations and to align process efficiencies. SaaS CRM offers better planning and resource management, reduces operational costs, helps in streamlining data to one platform, and increases sales. These factors are expected to boost the adoption of SaaS CRM by SMEs, thereby, fueling the growth of the market during the forecast period.
As per Technavio, the integration of analytics into SaaS CRM will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global SaaS customer relationship management (CRM) market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Saas Customer Relationship Management (CRM) Market: Integration of Analytics into Saas CRM
SaaS CRM’s architecture has evolved significantly to support real-time data management. SaaS CRM is integrating email, social media, and other platforms alongside analytics to enable marketers to analyze and capture customer data in SaaS CRM. The integration of analytics into SaaS CRM facilitates the assessment and streamlining of customers’ data and marketing strategies for customers. The use of analytics in SaaS CRM also helps gain a complete view of business and customer insights in real-time, thus, accelerating business agility and innovations. Therefore, the integration of analytics is expected to be one of the key SaaS CRM market trends during the forecast period.
“Apart from the integration of analytics into SaaS CRM, other factors such as the rising number of partnerships and acquisitions, and the integration of artificial intelligence (AI) into SaaS CRM will have a significant impact on the SaaS customer relationship management (CRM) market growth during the forecast period,” says a senior analyst at Technavio.
Global Saas Customer Relationship Management (CRM) Market: Segmentation Analysis
This market research report segments the global SaaS customer relationship management (CRM) market size by end-user (retail, BFSI, manufacturing, telecom and IT, healthcare, and others) and geographic regions (North America, Europe, APAC, South America, and MEA).
The North American region led the SaaS customer relationship management (CRM) market in 2018, followed by Europe, APAC, South America, and MEA, respectively. The SaaS CRM market analysis report attributes the dominance of the North American region to several factors such as the increasing use of public cloud services by enterprises, growing need for the analysis of customer information, and the availability of technologically advanced infrastructure in the region.
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Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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