Global CRM market grew 12.5 p.c in 2008: Gartner

MUMBAI, INDIA: Worldwide CRM market revenue totalled $9.15 billion in 2008, a 12.5 per cent increase from 2007 revenue of $8.13 billion, according to Gartner Inc.

Analysts said that market growth was driven by enterprise investments in technologies focused on customer retention, analytics and on-demand solutions.

“Despite financial market volatility, the worldwide CRM market enjoyed its fifth consecutive year of double-digit growth as businesses continued to invest in solutions across all sub segments,” said Sharon Mertz, research director at Gartner. “Actual market growth was moderated by a stronger dollar but reflects higher contributions from emerging markets.”

Gartner observed that software as a service (SaaS) continued to drive the market forward, representing nearly 20 per cent of total CRM software market revenue in 2008, up from just over 15 percent in 2007.

Interest in social networking and social software also escalated in 2008 as businesses were confronted with the sales, marketing, and serviceability impact of increasing consumer participation in online forums.

SAP continued to be the market leader accounting for 22.5 percent of worldwide CRM software revenue in 2008, but this is down from a 25.5 percent share in 2007. Microsoft experienced the strongest growth rate among the top five vendors, as its revenue increased 75 per cent in 2008.

While the CRM market remains highly concentrated in Western economies, emerging markets are growing rapidly and now account collectively for nearly 16 percent of the worldwide market, up from approximately 13.8 percent in 2006.

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