The Europe Customer Relationship Management Market would witness market growth of 10.5% CAGR during the forecast period (2021-2027).
The increasing importance of identifying customers’ behaviour and their preferences & patterns due to the growing competition in the market is motivating companies to use CRM strategies for providing quality service performance in real-time and thus, getting a competitive edge over others. In addition, the swift digital transformation is encouraging organizations over various sectors to substitute the prevailing offering of solutions that help in creating, managing, and improving their digital presence with an integrated CRM solution that helps in delivering the purposes and fulfil all the business needs. Additionally, the technological improvements in business intelligence & embedded analytics, and their installation in CRM solutions are anticipated to augment product advancement and innovation across CRM providers.
With the increasing competition in the market, organizations across Europe are widely adopting CRM solution to create a transparent communication model with their customers. It also helps them to generate insights by studying the buying and preference pattern of the customers, which help in the launch of improved products & services by the companies. In addition, customers are becoming more selective due to the availability of wide variety of products & services.
Thus, it is important for the companies to understand customers’ need and better engage them with their brand to develop more trust and loyalty towards the brand. Customers also shift to another brand very easily, which makes it more important for the companies to connect with the customer. So, Europe is estimated to record a substantial growth rate during the forecast period.
The growing requirement of keeping the customers engaged by establishing effective communication among companies and customers through various channels is estimated to bolster the growth of the market. Companies have to continuously provide relevant documents and promotional offers to engage and communicate with their customers to maintain a healthy customer relationship. At present, customers prefer to communicate with the companies via various channels like email, voice, mobile, SMS and social media.
The Germany market dominated the Europe Retail & eCommerce Customer Relationship Management Market by Country 2020, growing at a CAGR of 8.3 % during the forecast period. The UK market is exhibiting a CAGR of 8.7% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 10.3% during (2021 - 2027).
The Large Enterprises market dominated the France Customer Relationship Management Market by Enterprise Size 2020, thereby, achieving a market value of $2,270.9 million by 2027. The Small & Medium Enterprise market is expected to witness a CAGR of 12.1% during (2021 - 2027).
Based on Component, the market is segmented into Software and Services. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Application, the market is segmented into Customer Service, Customer Experience Management, CRM Analytics, Marketing Automation, Salesforce Automation and Others. Based on End User, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Energy & Utility, Manufacturing and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Customer Relationship Management Market Size will Hit $94.4 Billion by 2027, at a CAGR of 11.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Salesforce.com, Inc., Microsoft Corporation, SAP SE, Oracle Corporation, Adobe, Inc., Zoho Corporation Pvt. Ltd., Creatio, SugarCRM, Inc., Copper CRM, Inc., and Insightly, Inc.
By Component
By Enterprise Size
By Deployment Type
By Application
By End User
By Country
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