Open Source CRM Software Market Size & Share; Type (Operational CRM, Analytical CRM, Collaborative CRM); Deployment Mode (On-premises, Cloud-based, Hybrid); Organization Size (Large, Small, Medium); End-User Industry (BFSI, Retail, Healthcare, Telecom & IT, Discrete Manufacturing, Government & Education); Application (Marketing, Sales, Customer Service & Support); Component (Software, Services) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5744
  • Published Date: Feb 28, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024- 2036

Open Source CRM Software Market size is expected to reach USD  6 Billion by the end of 2036, growing at a CAGR of 13% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of open source CRM software was USD 3 Billion. The primary reason behind the growth of the market is the increasing requirement to modify customer retention. The CRM (Customer Relationship Management) market is projected to touch USD 145.79 billion by the year 2029 at a CAGR of 12.5%. Additionally, it is mentioned that 80% of CRM applications were dispensed as a SaaS-based solution therein it is projected that there can be a substantial increase of more than 90% by the end of 2024. Utilization of an open source CRM software can be an intricate and time-consuming technique, but it can also be profitable and pleasing.

Another reason that will propel the open source CRM software market by the end of 2036 is the pliability and personalization of open source CRM software as per business requirements. Contrary to proprietary solutions, the source code of open source platforms is attainable, enabling developers to improve modules, incorporate them with other equipment, and add fresh capacities as needed. For instance, in October 2023, in line with Daily Voice, by acknowledging the main deliberations and tackling the challenges, businesses can create expandable CRM solutions that enable them to match the evolving requirements of their clients and push business expansion. This has provided a substantial competitive border to businesses more than proprietary software. Their simple attainability makes them appropriate for domains such as e-commerce, education, non-profits, etc. Digital conversion is the unification of digital technology into all fields of a business resulting in basic changes to how businesses function and provide value. It assists in simplifying operations, raising effectiveness, acquiring more profound insights into customers’ requirements and behavior, developing creation, and pushing business expansion.


Open Source CRM Software Market
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Open Source CRM Software Sector: Growth Drivers and Challenges

Growth Drivers

  • Unification of Appearing Technologies - As 2021 gets in progress, technological innovation’s rapid pace shows no signs of slowing any time soon. But while 2020 was all about the speed at which change occurred – with approximately two years of digital transformation happening in just two months (assume the great e-commerce movement, with the U.S. Commerce Department demonstrating a 37% rise in online sales in Q3 - the next phase of technological creation will be denoted by a various keyword - Namely, unification. The persistent blend of technology into each prospect of their regular lives is becoming one of the most important components of technological modification. From ultra-quick 5G networks that give unsurpassed connectivity to smart cities filled with energy-effective bike charging racks, electric vehicle (EV) charging stations, and data-pushed infrastructure, recommending that they stand on the verge of a fifth industrial rotation is anything but exaggerated.
  • Cost-Effectiveness of CRM - Customer Relationship Management (CRM) creates the fortitude of an increasing customer-pivotal business. The utilization of CRM for insurance evidence is a specific proper as it assists insurers in meeting transforming open source CRM software market situations and clientele prospects. With CRM insurance software in the sketch, insurers will get it simpler to stay with policyholders through rich and significant experiences. Additionally, it will modify its product’s worth proposition by customizing policies relying on the people’s profile, needs, and related risks. However, such benefits may be impalpable. For a more pragmatic comprehension of how salesforce CRM document generation software modifies business, there is a requirement for an understanding of cost-benefit assessment that acknowledges key characteristics and capabilities, returns on investment (ROI), best practices for CRM utilization in the insurance industry, and more.
  • Creativity and Cooperation of Open source CRM Software - The open source growth technique offers cooperation between an international community of developers. This pushes to promote creation as new components and solutions are considered. With an extensive talent pool working to increase capacities, open source CRMs can quickly roll out modifications and fixes.

Challenges

  • Shortage of Clientele Understanding - One of the major challenges encountering the agreement with open source CRM solutions is the shortage of understanding among clients about the advantages that open source technologies can give. With multiple open source CRM choices accessible it can be tough for clients to decide which solution best lawsuits their requirements without exact assistance. Restricted marketing budgets of open source vendors further aggravate this issue of education. As an outcome, a lot of businesses frequently select acquainted proprietary brands by default without sincerely acknowledging the powerful value proposition of certain open source CRMs. This shortage of wisdom stunts the capacity clientele base for these technologies. Give live displays or video tutorials of the open source CRM to demonstrate its abilities and ease of utilization. Noticing the CRM in action can assist in debunking the technology for clients. confirm that all-inclusive, comprehensible documentation is accessible, which guides users through initiation, arrangement, personalization, and daily use.
  • Inaccessibility of Talent
  • Stringent Government Policies

Open source CRM Software Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

∼13%

Base Year Market Size (2023)

~USD 3 Billion

Forecast Year Market Size (2036)

~USD 6 Billion

Regional Scope

  • North America (North America, Canada, Mexico)
  • Asia Pacific (Japan, China, India, Australia, Others)
  • Europe (Germany, Spain, UK, France, Italy, Russia, Others)
  • Middle East and Africa (South Africa, UAE, Others)
  • Latin America (Brazil, Argentina, Others)
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Open Source CRM Software Segmentation

Deployment Mode (On-premises, Cloud-based, Hybrid)

The cloud-based segment in open source CRM software market will grow the most by the forecast period and will hold almost 60%. because of its extensive use in large, medium, and small companies. Around 90% of organizations utilize cloud CRM. This enables them to preserve money and provides them with a high level of movability and liberty to transform the program. With CRM in the cloud, they can disregard updates, technical problems, and concerns about extending practicality - all this will be given by the growth organization. Even if there are substantial transformations in the organization, cloud CRM can be substituted without loss. The possibilities of personalization of the cloud CRM system are more restricted to apparent factors. Similarly, CRM in the cloud frequently has a large fluctuation of settings, so every organization can transform the program to adapt itself. Additionally, cloud solutions are persistently being created and modified, extending their usefulness without extra payment. Taking into consideration all the costs, it is frequently more beneficial to select an instant cloud solution with the required usefulness than to spend on the personalization of on-premise CRM.

Application (Marketing, Sales, Customer Service & Support)

Customer service & support will have superior growth during the forecast period and will hold around 54% of revenue share owing to the increasing use of customer service and support to modify the clientele experience. Over 80 to 90 % of organizations with over 10 employee’s utilization of customer relationship management (CRM) solutions, which keep all customer-associated data and assist in building permanent customer relationships by unifying sales force automation, marketing automation, and customer service

Our In-Depth Analysis of the global open source CRM software market Includes the Following Segments:

          Type

  • Type (Operational CRM
  • Analytical CRM
  • Collaborative CRM

          Deployment Mode

  • On-premises
  • Cloud-based
  • Hybrid

          Operation Size

  • Large Enterprises
  • Small & Medium Enterprises

          End-Use Industry

  • BFSI
  • Retail
  • Healthcare
  • Telecom & IT
  • Discrete Manufacturing
  • Government & Education

          Application

  • Marketing, Sales
  • Customer service and Support

          Component

  • Software
  • Services

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Open Source CRM Software Industry - Regional Synopsis

North American Market Analysis

The open source CRM software market in the North America region will have the highest growth during the forecast period with a revenue share of around 39%. This growth will be noticed owing to increasing advancement in technologies that are used in the major companies of this region. For instance, the unification of AI in CRM has substantially modified customer segmentation. By employing the effect of machine learning algorithms, marketers can assess wide amounts of clientele information to recognize patterns and trends that were once concealed. These perceptions allow businesses to segment their customer with surgical accuracy, making sure that marketing exertions are focused and appropriate.

APAC Market Statistics

The open source CRM software market in the APAC region will also encounter huge growth during the forecast period and will hold the second position owing to the emerging economies and invention of new giant companies in countries like China, Japan, India, and Australia. For instance, the Xi Jinping administration has also accepted other steps to revitalize the bigger economy, comprising the acceptance of a USD 137 billion sovereign bond issue and enabling local governments to anticipate part of their 2024 bond quotas. Appearing economies are the region's fortune, with India, Indonesia, Malaysia, and the Philippines projecting from the rest because of powerful domestic requirements.

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Open Source CRM Software Market size
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Companies Dominating the Open Source CRM Software Landscape

top-features-companies
    • Odoo
      • Company Overview
      • Business Planning
      • Main Product Offerings
      • Financial Execution
      • Main Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • SuiteCRM
    • VTiger
    • Salesforce
    • Zoho
    • HubSpot
    • Pipedrive
    • Insightly
    • Base
    • Apptivo

In-the-news

In The News

November 2023: Veco, a software company, demonstrated avant-garde CRM software, focusing to rationalize operations and increase cost-efficiency for agents. The component-packed product is particularly customized for on-the-move agents, encouraging effectiveness and prolificness throughout their branches.

November 2023: Zillow Group, an American tech real-estate marketplace organization gained Follow Up Boss, an industry leader in client relationship management. Zillow Group's spending in the Follow-Up Boss platform will further assist teams and agents provide great clientele experiences, increasing efficiency, and increase their businesses.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 5744
  • Published Date: Feb 28, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing requirement to modify customer retention across the world will majorly drive the market growth of the open source CRM software market.

The market size of the steel powder market is expected to get a CAGR of approximately 13% over the forecast period, i.e., 2024 - 2036.

The major players in the market are Odoo, SuiteCRM, VTiger, Salesforce, Zoho, HubSpot, Pipedrive, Insightly, Base, Apptivo, iRidge Co., Ltd., Prismatrix, Monster Lab Co., Ltd., Sprocket, Inc.

The cloud-based segment is anticipated to reap the largest market size with almost 60% by the end of 2036 and demonstrate substantial growth scopes.

The market in the North American region is expected to have the largest market share by the end of 2036 and provide more business opportunities in the future.
Open Source CRM Software Market Report Scope
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