The global CRM applications market enjoyed a solid
recovery in 2010 with year-over-year growth of 6.2 percent 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 percent year-over-year growth.

 

“Despite its relative market maturity, CRM
applications represent a vibrant market opportunity. As a segment, CRM
applications
continue to evolve. With technology enhancements such social networking and
socialytics, today’s CRM applications are helping organizations 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,” said Mary Wardley, program vice president, CRM Applications.

 

“Within the CRM applications market, three of the
four functional markets are forecast to grow at above average rates for 2011.
The customer service and marketing applications markets are forecast to grow at
8.2 percent and 8.8 percent respectively, while the sales applications market
will grow 8.6 percent year over year in 2011. Meanwhile, the contact center
market, which experienced a modest decline in 2010, will rebound to 5.4 percent
year-over-year growth in 2011,” said Wilvin Chee, associate vice president,
Worldwide Software Trackers.

 

Within the customer service market, three of the top 5
large countries (UK, Germany and France) are forecast to grow at an 8.2 percent
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.

 

By Telecomlead.com Team

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