 "CRM Market To Grow By More Than $1.3 Bn In 2011")
The global CRM applications market enjoyed a solid recovery in 2010 with year-over-year growth of 6.2% and revenues of $16.5 billion, according to the International Data Corporation (IDC) Worldwide Semiannual Customer Relationship Management Applications Tracker. IDC expects the CRM applications market to continue on this trajectory in 2011 with revenues approaching $18 billion on 7.6% year-over-year growth.
“Despite its relative market maturity, CRM applications represent a vibrant market opportunity,” said Mary Wardley, program vice president, CRM Applications. “As a segment, CRM applications continue to evolve. With technology enhancements such social networking and socialytics, today’s CRM applications are helping organisations deliver the next level in intimacy and insight. In an interconnected world of global commerce the customer experience and relationship will be the key differentiator.”
“Within the CRM applications market, three of the four functional markets are forecast to grow at above average rates for 2011,” said Wilvin Chee, associate vice president, Worldwide Software Trackers. “The customer service and marketing applications markets are forecast to grow at 8.2% and 8.8% respectively, while the sales applications market will grow 8.6% year over year in 2011. Meanwhile, the contact center market, which experienced a modest decline in 2010, will rebound to 5.4% year-over-year growth in 2011.”
Within the customer service market, three of the top 5 large countries (UK, Germany and France) are forecast to grow at an 8.2% annual rate in 2011, while Australia, Brazil, Canada, China, India, and Russia are expected to drive strong growth in the marketing applications market. With the exception of Brazil, these same countries are forecast to experience even stronger growth in the Sales applications market.
Despite consisting of just four functional markets, the overall CRM applications market remains fragmented with many vendors vying to gain share. Outside the top 3 vendors, a total of 19 vendors achieved more than $100 million in CRM software revenue during 2010, representing more than 35% of total market share. Oracle, SAP, and Salesforce.com were the only vendors to amass more than $1 billion in CRM software revenue worldwide in 2010. Oracle held the top spot with 11.8% global market share in 2010, while Salesforce.com had the strongest year-over-year growth (27.4%) among the top 3. Oracle’s best results came from the North America and Japan regions, whereas for Salesforce.com, the strongest growth was from the Asia/Pacific (excluding Japan) and Central & Eastern Europe, Middle East and Africa (CEMA) regions.
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