Low penetration of software and large domestic demand combine to make India, China, and Indonesia significant potential Customer Relationship Management (CRM) software markets in Asia. The market is expected to reach an estimated US $17.5 billion in 2017 with a CAGR of 7.2% over next five years (2012-2017).
Texas, United States, 02th Jan. 2013 :Lucintel, a leading global management consulting and marketresearchfirm, has analyzed the global CRM software marketand presents its findings in “Global CRM Software Industry Analysis 2012-2017:Industry Trend, Profit, and Forecast Analysis.”
The industry consists of sales, marketing automation, and customer service and support. It comprises establishments primarily engaged in computer software publishing or publishing and reproduction. The Asia Pacific (APAC) and Rest of the World (ROW) regions witnessed higher growth rate than North America and Europe during the last five years. This was due to growing market sectors such as banking and financial, hospitality, logistics, real estate, and manufacturing driving the demand of CRM software in Asian and Latin American countries.
The cloud computing model has made easier to penetrate these markets as companies increasingly are adopting Internet-based technologies.Strong economic growth in APAC and ROW region as well as growth in the services sector has driven the enterprises to invest heavily in CRM software to sustain their business growth and improve productivity.
As indicated in the study, economic growth and new emerging markets, growing service sector, cloud computing, and increasing demand from small and medium enterprises are the major drivers for the industry. This study provides an overview of the global CRM software industry. The report tracks market sizing for four geographic regions of this market sector.
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