GVR Report cover Customer Relationship Management Market Size, Share, & Trends Report

Customer Relationship Management Market Size, Share, & Trends Analysis Report By Solution, By Deployment (On-premise, Cloud), By Enterprise Size, By End-use, By Region And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-912-8
  • Number of Pages: 150
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Technology

Report Overview

The global customer relationship management market size was valued at USD 58.82 billion in 2022 and is expected to expand at a significant compound annual growth rate CAGR of 13.9% from 2023 to 2030. Ongoing trends such as hyper-personalization of customer service, use of AI and automation, and implementation of robust social media customer service can help reduce costs, increase response times, improve customer satisfaction, and increase the adoption of customer relationship management (CRM) platforms across industries are the major factors that drive the market growth.

U.S. Customer Relationship Management Market Size, by solution, 2020 - 2030 (USD Billion)

The COVID-19 pandemic is likely to impact businesses significantly, suppressing profitability, stifling innovation, and drying up cash flows and financial reserves. However, the growing adoption of digital technology tools is likely to set the pace for digital transformation and digital optimization of both existing businesses and new businesses. These developments are expected to lead to the increased use of cloud technology and work collaboration tools, subsequently aiding in market growth.

Organizational departments such as sales & marketing and customer services & support are increasingly integrating customer relationship management systems with AI to improve customer experience and feedback and develop strong bonds with their customers. For instance, in April 2022, Salesforce, Inc., a cloud-based software company, launched CRM analytics, with new capabilities such as AI-powered insights for sales, marketing, and service teams for every industry, such as BFSI, retail, and IT & telecom, among others.

The search insights within the CRM analytics help Salesforce customers to discover any dataset, dashboard, and next-best groupings related to their search. These developments in CRM solutions and services would likely boost the growth of the market. Customers' increasing use of digital channels to communicate with brands and organizations is anticipated to drive customer relationship management industry growth over the forecast period. According to recent SoftClouds surveys, around 80% of organizations use CRM systems for sales reporting and process automation.

It provides a better understanding of buying behavior and preferences, allowing brands and organizations to implement the best CRM strategies and deliver real-time performance. For instance, in December 2022, Freshworks Inc., a cloud-based software solution for all sizes of businesses, offered Freshdesk Omnichannel and Freshchat to Supara, a leading apparel company, to accelerate e-commerce sales with better response times to customer queries. These initiatives would further drive the growth of the market during the forecast period.

With the growing importance of understanding customer behavior and their preferences, organizations are adopting CRM strategies to deliver the best performance in real-time and stay ahead of their rivals. Rapid shifts in the fields of business intelligence and embedded analytics, the Internet of Things (IoT), and artificial intelligence, and their implementation in CRM solutions are likely to promote product enhancement and innovation among customer relationship management vendors.

For instance, in June 2021, Salesforce.com, Inc. announced new capabilities across digital 360 to help enterprises to boost their digital activities and deliver the next generation of digital experiences, commerce, and marketing. These capabilities and features provided by customer relationship management suites supplement the growth of the customer relationship management industry over the forecast period.

Large corporations have already made significant investments in their respective IT infrastructures. However, due to budget constraints, Small and Medium Businesses (SMBs) have been unable to invest aggressively in setting up IT infrastructure. Futuristic customer relationship management suites also enable enterprises to gauge business performance and track sales trajectories.

The continued digital transformation across various industries is prompting businesses to replace the existing array of solutions required to create, manage, and enhance their digital presence with a unified solution that can serve all purposes. These benefits offered by CRM suites would further drive the customer relationship management market during the forecast period.

Solution Insights

The customer service segment dominated the market in 2022 and accounted for a revenue share of 23.7%. The key driving factors for the growth of the market include the growing importance of understanding customer behavior and their preferences, and encouraging brands and organizations to continue to adopt CRM strategies to deliver the best service performance in real time. Additionally, the growing use of digital channels using artificial intelligence and its applications by customers to engage with brands and organizations is expected to boost growth during the forecast period.

The CRM analytics segment is anticipated to grow at a significant CAGR of 13.7% and is expected to register promising growth over the forecast period. The availability of multiple platforms and increasing adoption for integration of analytics features in CRM solutions benefit companies to derive rich insights from business data is expected to drive the growth of the segment.

For instance, in July 2021, Genesys, a software company that sells customer experience and call center technology to mid- and large-sized businesses, launched new tools to enable swift innovation for AI-driven customer experiences, which include bot development and orchestration, open messaging Application Programming Interface (API), and employee development and feedback, deployed across multiple channels. These features offered by CRM applications would further drive the analytics segment during the forecast period.

Deployment Insights

The cloud segment dominated the market in 2022 and accounted for a revenue share of 56.1%. Cloud computing provides several advantages, including real-time access, scalability, high flexibility, cost-effectiveness, and low hardware maintenance costs. For instance, in March 2021, Adobe announced a partnership with government agencies in all 50 states (Department of Public Social Services (DPSS) and Center for Disease Control and Prevention (CDC)) to enable digital modernization via Adobe Experience Cloud and Adobe Document Cloud. With this collaboration, governments can improve their online presence by redesigning their websites and apps and ensuring personalized content. These benefits offered by cloud deployment would further drive the segment during the forecast period.

The on-premise segment is anticipated to expand at a significant CAGR of 10.5% during the forecast period. According to a CRM buyer survey conducted by SelectHub, several larger enterprise groups have preferred on-premise as compared to cloud-based deployment. Due to the increasing demand for data privacy, the demand for on-premise customer relationship management solutions has increased. Furthermore, the on-premise model is still the first choice by the largest organizations in the world, as they have business-critical information to be stored on their servers for enhanced data protection. These benefits offered by on-premise deployment would further drive the segment during the forecast period. 

Enterprise Size Insights

The large enterprises segment accounted for the largest market share of 61.1% in 2022. With the presence of various operational departments in large organizations, customer relationship management (CRM) solutions are utilized to help integrate customer data with business process management features and enable users to coordinate with their customer support processes, sales, and marketing, which drive the company’s overall performance. Large Enterprises are particularly seeking solutions that incorporate artificial intelligence and analytics as part of the efforts to increase workforce efficiency and reduce manual work through automation. These capabilities would further drive the demand for CRM solutions across large enterprises during the forecast period.

The small & medium enterprises segment is expected to grow at a significant CAGR of 15.5% during the forecast period. The segment's expansion can be attributed to the global adoption of a number of government initiatives via digital campaigns such as social media video marketing and search engine marketing. However, due to budget constraints, SMBs have been unable to invest aggressively in establishing IT infrastructure. At this point, cloud-based SaaS can especially assist SMBs in ensuring easy deployment and flexibility while providing a better user experience, which will drive demand for customer relationship management solutions across small businesses during the forecast period. 

End-use Insights

The retail segment accounted for the largest market share of 23.5% in 2022. The growing online shopping platforms and mobile application is offering huge customer data to retail companies. These retail companies are shifting towards CRM software and solutions to understand business growth, market trends, and experience. Furthermore, the increasing focus on digital marketing activities and customized advanced IT solutions drive the market’s growth over the forecast period. These developments in the retail segment are expected to drive the market’s growth over the forecast period.

Global Customer Relationship Management Market Share, by end-use, 2022 (%)

The IT & telecom segment is expected to expand at a significant CAGR of 15.6% during the forecast period. Customer relationship management solutions in IT & telecom offer brand equity, distribution channels, post-purchase service, and customer exclusivity and support. These benefits allow organizations to continue their business to sustain in this competitive market. Moreover, the unabated growth in the penetration rate of IT technologies in organizational operations has set new parameters for competitors in the marketplace. Digital experiences inculcated and offered by the companies would increase operational productivity and enhance customer engagement in the long run.

Regional Insights

The North American regional market dominated the market in 2022 and accounted for a market share of 43.6%. The key driving factors are the increasing adoption of customer relationship management solutions by several enterprises across the region that rely on the use of advanced technologies and are expected to dominate the market over the forecast period. Furthermore, the continuous adoption of digital transformation across various sectors, including banking, retail, and hospitality, is expected to propel the North America market in the forecast period.

Customer Relationship Management Market Trends by Region

Asia Pacific is anticipated to rise as the fastest-developing regional market at a CAGR of 15.6% over the forecast period. The rising demand for innovative CRM solutions from emerging countries such as China and India is acting as a catalyst for the growth of the regional market. The expansion of the e-commerce industry in Asian countries, such as India, is anticipated to drive the demand for CRM solutions. Further, the continuous rise of SMBs in countries like India is placing a strong emphasis on implementing customer relationship management solutions as a part of their efforts to drive their regional and global businesses.

Key Companies & Market Share Insights

The dominant players operating in the construction and design software market are observed to invest resources in research & development activities to support growth and enhance their internal business operations. Companies can be seen engaging in mergers & acquisitions and partnerships to further upgrade their products and gain a competitive advantage in the market. They are effectively working on new product development, and enhancement of existing products to acquire new customers and capture more market shares.

For instance, in August 2022, SAP SE announced the collaboration with Lanka Walltiles, the largest conglomerate in Sri Lanka, to drive the business transformation of a Sri Lankan company using S/4 HANA cloud. With SAP’s S/4 HANA, the Sri Lankan conglomerate would automate its business processes and simplify its data-driven decision-making across partner & employee experience, and customer-centricity. Some of the prominent players dominating the global customer relationship management market include:

  • Salesforce.com, Inc.

  • Microsoft Corporation

  • SAP SE

  • Oracle Corporation


  • SugarCRM Inc.

  • Zoho Corporation Pvt. Ltd

  •  Copper CRM, Inc.

  • Insightly Inc.

  • Creatio

Recent Development

  • In July 2023, Salesforce announced the general availability of the ‘Sales Planning’ solution for simplifying the creation of end-to-end plans powered by CRM data. This Sales Cloud solution will enable organizations to efficiently distribute territories, compensation, capacity, and quota, among other aspects, thus driving their growth

  • In July 2023, Creatio and CVM People announced a partnership for maximizing profitability for customers in the United Kingdom through the implementation of no-code-powered CRM and workflow automation. CVM People is a practitioner-led organization specializing in enabling medium-sized to enterprise firms in transforming their customer management capability across the areas of marketing, sales, and service

  • In July 2023, Creatio and xAfrica announced a partnership aimed at equipping xAfrica with the tools to drive organizational capacity and efficiency for its clients across several major industries and improve their business outcomes. xAfrica is a business consultancy and service provider that specializes in the areas of sales enablement, prospecting, brand awareness, revenue management, and compliance

  • In July 2023, Copper CRM announced several improvements to its list views experience to make the data easy to comprehend and offer an intuitive and user-friendly appearance. The company has added various design elements to ease navigation and increased the record preview side panel size. In-line editing has also been introduced to smoothen workflow, as well as the choice to create an ‘active list’ or a ‘basic list’ to avoid the use of tags

  • In June 2023, SugarCRM and sales-i announced a partnership for improving the B2B sales performance in the manufacturing, wholesale, and distribution sectors, through the use of AI and machine learning to offer enhanced customer insights, analytics, and intelligence. The collaboration would instantly centralize sales analytics access for each customer, sales team, branch, and product, benefitting sales in industries such as manufacturing and logistics

  • In May 2023, Insightly announced the release of its ‘Insightly Modern CRM Checklist’ to aid fast-growing businesses in evaluating their software platforms. The company aims to help businesses understand the evolution of CRM software with changing customer requirements and enquire about features such as mobile access, customization, implementation, security, and cost, among others

  • In May 2023, SugarCRM announced that its AI-driven CRM platform was selected by Barnardos Australia for modernizing its tech stack and improving its data management, operational visibility, compliance, collaboration, and efficiency. Barnardos is a leading charity in Australia, providing care for children at risk of neglect and abuse. The partnership would enable the charity to build relationships with stakeholders such as case workers, volunteers, caregivers, and funders

  • In January 2023, Zoho Corporation introduced the latest version of its ‘Bigin’ CRM solution for small businesses. The most significant addition to this version is ‘Team Pipelines’, which enables customer-facing teams to use a single ‘Bigin’ account for managing their distinct operations using a unique set of pipelines and sub-pipelines. Other notable updates include the launch of ‘Connected Pipelines’ and ‘Toppings’, as well as improvements to Bigin’s mobile app

Customer Relationship Management Market Report Scope

Report Attribute


Market size value in 2023

USD 65.59 billion

Revenue forecast in 2030

USD 163.16 billion

Growth rate

CAGR of 13.9% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company market share, competitive landscape, growth factors, and trends

Segments covered

Solution, deployment, enterprise size, end-use, region

Regional scope

North America; Europe; Asia Pacific; South America; MEA

Country scope

U.S.; Canada; Mexico; U.K.; Germany; France; Spain; China; India; Japan; Australia; New Zealand; Brazil; UAE; Saudi Arabia

Key companies profiled

Salesforce.com, Inc.; Microsoft Corporation; SAP SE; Oracle Corporation; ADOBE INC.; SugarCRM Inc.; Zoho Corporation Pvt. Ltd; Copper CRM, Inc.; Insightly, Inc; Creatio

Customization scope

Free report customization (equivalent to up to 8 analyst working days) with purchase. Addition or alteration to country, regional, and segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Customer Relationship Management Market Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of industry trends in each of the sub-segments from 2018 to 2030. For this study,  Grand View Research has segmented the global customer relationship management market report based on solution, deployment, enterprise size, end-use, and region:

  • Solution Outlook (Revenue, USD Million, 2018 - 2030)

    • Customer Service

    • Customer Experience Management

    • CRM Analytics

    • Marketing Automation

    • Salesforce Automation

    • Social Media Monitoring

    • Others

  • Deployment Outlook (Revenue, USD Million, 2018 - 2030)

    • On-premise

    • Cloud

  • Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

    • Large Enterprises

    • Small & Medium Enterprise

  • End-use Outlook (Revenue, USD Million, 2018 - 2030)

    • BFSI

    • Retail

    • Healthcare

    • IT & Telecom

    • Discrete Manufacturing

    • Government & Education

    • Others

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

      • New Zealand

    • South America

      • Brazil

    • Middle East & Africa (MEA)

      • UAE

      • Saudi Arabia

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