Customer Relationship Management (CRM) software is used for managing consumer data and interaction, along with automating sales and marketing operations and accessing business information to increase customer retention. This software needs to provide flexibility and scalability in order to offer customized services and increase business opportunities. Majority of CRM systems are on-premise, wherein the software is managed by IT operations and resides inside the corporate firewall. However, SaaS based CRM software has been gaining market share over the past few years.
Traditional CRM deployments require high degree of user intervention from a technical standpoint. Space constraints to house the necessary infrastructure for deploying on-premise applications and servers are expected to result in increased demand for alternatives. Furthermore, by eliminating dependence on legacy systems, businesses can focus on revenue generation and do not need to expand their existing IT staff. In comparison to on-premise CRM, SaaS based software helps deliver complimentary functionality in the form of enhanced analytics and improved productivity. Sales force automation (SFA) and other sales applications are expected to be mainly implemented using SaaS approach in the coming years.
Companies have been targeting SaaS based CRM software for large enterprises as well as SMEs (small and medium enterprises). Salesforce.com also provides a user friendly mobile version of the software, along with enabling collaboration between coworkers, which is especially useful in large organizations. Companies such as SAP provide a hybrid CRM solution, where pre-built integrations are used to securely connect an on-premise CRM to cloud based solutions. This results in a host of benefits for customers, who would otherwise have to choose between the mutually exclusive advantages of both approaches.
Customer service and support was the largest application segment for CRM software in 2012, since enterprises have been focusing on customer retention and satisfaction. Sales and marketing also accounted for considerable market share in the same year. IT, media and communication services witnessed high CRM spending, followed by the manufacturing and banking sectors. North America accounted for majority of the global market share in 2012; Europe also occupied a significant percentage of the market. The market is highly fragmented; key service providers include Salesforce.com Inc., SAP, Oracle Corporation, Microsoft Corporation, IBM Corporation, Adobe, and Amdocs among others.
This report, by Grand View Research, takes a closer look at the SaaS based CRM software industry, providing a holistic perspective on market dynamics, trends, supply and demand. The report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro level. The study aims at providing granular information, regarding estimates and forecasts for key applications including customer service and support, e-commerce, marketing and sales. The report also provides the same level of information for key regional markets.
This research report analyzes various factors which have been driving and inhibiting the global SaaS based CRM software market in the past. In addition, the report analyzes the impact of each driver and restraint on the market growth, which forms the base for market forecast. The report also showcases the opportunities available in the market which may act as future drivers for the market.
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