North America Customer Relationship Management Market By Component (Software and Services), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By Deployment Type (Cloud and On-premise), By Application (Customer Service, Customer Experience Management, CRM Analytics, Marketing Automation, Salesforce Automation and Others), By End User (BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Energy & Utility, Manufacturing and Others), By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The North America Customer Relationship Management Market would witness market growth of 9.7% CAGR during the forecast period (2021-2027).
Customer Relationship Management (CRM) plays an important role in a wide variety of operations across international companies. The increasing improvements in Social CRM have resulted in rapid & accessible management and also brought crucial information into business analytics. Many companies are increasingly adopting social CRM as a part of an additional channel in the whole CRM software solutions. Social CRM is basically a more specific social aspect of conventional CRM software solutions. These solutions offer companies with various benefits such as enhanced communication of business ideas & information, improved transparency, higher flexibility and performance. Additionally, by using social CRM, enterprises can set up customer engagements and boost their brand presence among the customers. It also aims at addressing the customers’ requirement and works on them in a more transparent business atmosphere.
North America obtained the largest market share in 2020. Factors like growing usage of the latest technologies like machine learning & industrial automation and the inclination of the companies toward the digital transformation are responsible for the regional growth. In addition, North America is emerging as the hub for numerous industrial verticals like IT & Telecom, healthcare and energy & utility industry. These industrial verticals have a huge customer base that is projected to open new lucrative opportunities for the CRM vendors in the market.
Moreover, the presence of the key CRM providers in the region also contributes to the surging demand for CRM solution in the region. Companies in nations like the US and Canada are increasingly adopting CRM solutions to enhance their brand image and better engage with the customer. Thus, all these factors would collaboratively fuel the growth of the CRM market in the North America region.
The US market dominated the North America Customer Relationship Management Services Market by Country 2020, growing at a CAGR of 11.6 % during the forecast period. The Canada market is experiencing a CAGR of 15% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 14% during (2021 - 2027).
The BFSI market dominated the Canada Customer Relationship Management Market by End User 2020, thereby, achieving a market value of $948.3 million by 2027. The IT & Telecom market is showcasing a CAGR of 12.7% during (2021 - 2027). Additionally, The Healthcare market is expected to witness a CAGR of 12.9% during (2021 - 2027).
Based on Component, the market is segmented into Software and Services. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Application, the market is segmented into Customer Service, Customer Experience Management, CRM Analytics, Marketing Automation, Salesforce Automation and Others. Based on End User, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Energy & Utility, Manufacturing and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Salesforce.com, Inc., Microsoft Corporation, SAP SE, Oracle Corporation, Adobe, Inc., Zoho Corporation Pvt. Ltd., Creatio, SugarCRM, Inc., Copper CRM, Inc., and Insightly, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By Deployment Type
- Customer Service
- Customer Experience Management
- CRM Analytics
- Marketing Automation
- Salesforce Automation
By End User
- IT & Telecom
- Retail & eCommerce
- Government & Defense
- Energy & Utility
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Salesforce.com, Inc.
- Microsoft Corporation
- SAP SE
- Oracle Corporation
- Adobe, Inc.
- Zoho Corporation Pvt. Ltd.
- SugarCRM, Inc.
- Copper CRM, Inc.
- Insightly, Inc.
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