Research Nester has released a report titled “Customer Relationship Management (CRM) Analytics Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the CRM analytics market in terms of market segmentation by deployment model, by type, by end-user, by organization size and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The customer relationship management (CRM) analytics market is segmented by deployment model into on-premise and cloud, out of which the cloud segment is anticipated to have largest market share on account of their increasing availability for affordable and fast speed internet connection. 51.2% of the global population was using internet by the end of 2018, according to the estimation provided by International Telecommunication Union.
The CRM analytics market is anticipated to record a CAGR of 13.1% over the forecast period i.e. 2019-2027. The need for retention of valuable customers on account of increasingly competitive landscape across varied industries is estimated to drive the growth of the market during the forecast period.
Regionally, the CRM analytics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is expected to have largest market share on the back of increased awareness for customer retention among manufacturers and service providers. Additionally, growing need of data analyses owing to generation of large volume of data is also contributing to the growth of the market in the region. Asia-Pacific is expected to gain significant market share on the back of emergence of small, medium and large enterprises in the region.
Growing Need For Retention Of Valuable Customers To Augment The Growth Of The CRM Analytics Market
Various industries, such as BFSI, General and Modern Trade Retail, IT & Telecommunications and Healthcare, among others, have observed dynamic competitive landscape to retain their valuable customers. This has also driven various brands to increase their budgets for digital advertisements in order to attract new customers.
Driven by the rise in technical advancements, enterprises are gathering data from their online portals which helps them to derive and analyze buying patterns and behavior of their customers through data mining analysis, in order to retain them, thereby contributing significantly towards the growth of the market.
However, data security is a major concerning factor in cloud based system. Threats such as cybercrimes, by means of malware, data theft, and ransomware amongst others, are always on the rise, and lack of stringent rules and regulations to control these cybercrime across various countries, is expected to operate as key restraint to the growth of the CRM analytics market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the CRM analytics market, which includes company profiling of Oracle (NYSE: ORCL), SAP SE (ETR: SAP), IBM Corporation (NYSE: IBM), Microsoft (NASDAQ: MSFT), SAS Institute, Inc., Accenture (NYSE: PLC), Infor, Teradata (NYSE: TDC), Angoss Software Corporation, and Salesforce.com, Inc. (NYSE: CRM). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the CRM analytics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.