Growth Opportunities in Global Customer Relationship Management, 2024
Integrable, Easy-to-use CRM Solutions with AI and Data Analytics Enable Personalized Customer Experiences
20-Sep-2024
Global
Market Research
To deliver excellent customer experience, organizations require a single view of customers across all touchpoints, which they can achieve through customer relationship management (CRM) solutions. Businesses aim to capture and leverage the wealth of available customer data to have profitable, productive, value-rich, experience-enhancing, and loyalty-building interactions with their customers and apply them in their marketing and sales initiatives.
Frost & Sullivan expects artificial intelligence (AI)-driven CRM systems to capture more customer actions to maximize business value. These systems will deeply mine social media conversations, Internet of Things-connected products, and augmented and virtual reality for insights, including improvements and anticipatory, intent-based, targeted offers. CRM applications will become deeply integrated with adjacent marketing, sales, planning, and management solutions as well as with digital channels to provide a unified customer and user experience at lower IT and vendor management costs. This report discusses notable industry trends, insights into the CRM software market, industry growth drivers and restraints, CRM solution vendors’ focus, and growth opportunities.
Unless otherwise noted, the opinions expressed in this assessment are those of Frost & Sullivan and have been developed through our research, interviews, and analysis. Frost & Sullivan has a global team of analysts and consultants who continuously research a wide range of markets across multiple sectors and geographies. As part of this ongoing research, we identify companies that are true industry leaders, delivering best practices in what we term growth, innovation, and leadership (GIL). These companies have a keen eye on the future and drive innovation that meets upcoming needs before they become commonly visible. They are often the first to market with new solutions. These service and solution providers focus on delivering the best products at optimal prices to maximize customer value and CX, and by doing so, are growth leaders in their respective industries.
Author: Ankita Singh
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on the Global Customer Relationship Management Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Relevant Definitions for This Study
CRM—Definition and Advantages
A Typical Customer’s Journey Mapped Across 5 Buying Stages
Customer Actions and CRM Process throughout the Customer Journey
What is Contact Center CRM?
Vendor Scoping Based on Suitability as a Contact Center CRM
Top 10 CRM Industry Trends
Top 10 CRM Industry Trends (continued)
Top 10 CRM Industry Trends (continued)
Growth Drivers
Growth Restraints
Growth Opportunity 1—Industry-specific CRM Solutions
Growth Opportunity 1—Industry-specific CRM Solutions (continued)
Growth Opportunity 2—Security and Data Compliance
Growth Opportunity 2—Security and Data Compliance (continued)
Growth Opportunity 3—Interoperability and Integrations
Growth Opportunity 3—Interoperability and Integrations (continued)
List of Exhibits
Legal Disclaimer
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A tailored session with you where we identify the:- Strategic Imperatives
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Deliverable Type | Market Research |
---|---|
Author | Ankita Singh |
Industries | Information Technology |
No Index | No |
Is Prebook | No |
Podcast | No |
Predecessor | PDDD-01-00-00-00 |
WIP Number | PFJ8-01-00-00-00 |