U.S. Customer Relationship Management Market To Witness Huge Potential In The Future
U.S. Customer Relationship Management Industry
The U.S. customer relationship management market size is expected to reach USD 51.53 billion by 2030, growing at a CAGR of 12.5% from 2023 to 2030, according to the recent reports of Grand View Research, Inc. Customer Relationship Management (CRM) solutions are being driven by the ongoing need for creative ways to gather essential customer data, analyze customer information, and turn it into a superior customer experience strategy across all business sizes.
Through a centralized platform, these solutions assist businesses in gathering and managing client feedback and data. These insights can further assist businesses in identifying improvement areas, turning obstacles into opportunities, producing better replies, and improving the overall customer experience. Businesses of all sizes need to understand client behavior. Given that people frequently spend quality time on various social networking sites like Twitter, Facebook, Pinterest, LinkedIn, and Snapchat, among others, businesses have realized that these sites can be a great way to monitor how customers' behavior is changing and how they are interpreting information about goods and services.
Social customer relationship management can help organizations now by encouraging customer engagement and raising brand recognition. The importance of customer involvement to organizations is rising. Customer involvement is hence growing in importance as a part of CRM efforts. This would support the customer relationship management market's expansion during the anticipated period. A key factor influencing investments and innovation in CRM solutions is the ongoing desire for the optimized deployment of advanced technologies like predictive and prescriptive analytics to optimize current operational operations.
For instance, Salesforce.com, Inc. announced in September 2021 a partnership with Slack, a business communication platform, to allow the sales team to collaborate in real time and close more deals from any location. Additionally, this integration allows agency partners and marketing teams to work together in a digital workspace.
Gather more insights about the market drivers, restrains and growth of the U.S. Customer Relationship Management market
U.S. Customer Relationship Management Market Segments Highlights:
- The social media monitoring segment is anticipated to observe a CAGR of 15.0% during the forecast period. CRM systems can facilitate the planning, execution, and management of social media marketing campaigns. This has developed opportunities for segmental growth in the U.S.
- The cloud segment is anticipated to observe a CAGR of 14.7% during the forecast period. Cloud deployment has been the dominant segment since 2022 of the CRM market and is likely to witness more traction in the upcoming years, owing to rising preference and increased awareness regarding its benefits in terms of cost and flexibility
- The telecom & IT segment is anticipated to observe a CAGR of 14.3% during the forecast period. Customers have increased expectations for the quality of services and customer experience in the highly competitive telecom and IT sector. By offering a centralized platform to handle customer interactions, preferences, and history, CRM solutions assist businesses in meeting these objectives
- The SMBs segment is anticipated to observe a CAGR of 14.1% during the forecast period. There is a growing demand for these solutions from small and medium-sized businesses. SMEs in the U.S. market are also deploying customer relationship management solutions to improve business processes, which is likely to result in high revenue generation
- Key market players have an extended operating history, a large customer base, and significant competitive strengths. In addition to the inorganic growth strategies, vendors emphasize improving after-sale service offerings to ensure periodic maintenance of installed products
U.S. Customer Relationship Management Market Report Segmentation
Grand View Research has segmented the U.S. customer relationship management market based on solution, deployment, solution, application, and end-use:
U.S. Customer Relationship Management Solution Outlook (Revenue, USD Billion, 2018 - 2030)
- Customer Service
- Customer Experience Management
- Analytics
- Marketing Automation
- Salesforce Automation
- Social Media Monitoring
- Others
U.S. Customer Relationship Management Deployment Outlook (Revenue, USD Billion, 2018 - 2030)
- On-premise
- Cloud
U.S. Customer Relationship Management Application Outlook (Revenue, USD Billion, 2018 - 2030)
- BFSI
- Retail
- Healthcare
- Telecom & IT
- Discrete Manufacturing
- Government & Education
- Others
U.S. Customer Relationship Management End-use Outlook (Revenue, USD Billion, 2018 - 2030)
- Large Enterprises
- SMBs
Key U.S. Customer Relationship Management Company Insights
- Adobe Systems Inc.
- Copper CRM, Inc.
- Creatio
- Genesys
- HubSpot Inc.
- IBM
- Insightly, Inc.
- Microsoft Corporation
- Nimble
- Oracle Corporation
- SAP SE
- com, Inc.
- SugarCRM Inc.
- Verint Systems Inc.
- Zoho Corp.
Order a free sample PDF of the U.S. Customer Relationship Management Market Intelligence Study, published by Grand View Research.
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