Market Insights Technology Software Enterprise Software

Customer Relationship Management Software - ASEAN

ASEAN

Revenue in the Customer Relationship Management Software market is projected to reach US$1.10bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.13%, resulting in a market volume of US$1.95bn by 2029.
The average Spend per Employee in the Customer Relationship Management Software market is projected to reach US$3.18 in 2024.
In global comparison, most revenue will be generated in the United States (US$45,110.00m in 2024).

Key regions: Japan, China, South Korea, United Kingdom, Canada

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Customer Relationship Management (CRM) software in ASEAN has been increasing steadily over the years.

Customer preferences: With the rise of e-commerce and digitalization, customers in ASEAN are becoming more tech-savvy and expect a seamless shopping experience across all channels. This has led to an increase in demand for CRM software, which helps businesses manage customer data and interactions across multiple touchpoints. Additionally, customers in ASEAN value personalized experiences and expect businesses to cater to their specific needs. CRM software enables businesses to collect and analyze customer data to provide personalized experiences.

Trends in the market: Indonesia, Thailand, and the Philippines are the fastest-growing markets for CRM software in ASEAN. In Indonesia, the market is being driven by the growth of e-commerce and the increasing adoption of cloud-based CRM solutions. In Thailand, the market is being fueled by the government's push towards digitalization and the rise of the tourism industry. In the Philippines, the market is being driven by the growth of the business process outsourcing industry and the increasing adoption of CRM software by small and medium-sized enterprises.

Local special circumstances: In Singapore, the market for CRM software is highly competitive, with both global and local players vying for market share. The government's push towards digitalization and the rise of the fintech industry are driving the demand for CRM software in the country. In Malaysia, the market for CRM software is being driven by the growth of the e-commerce industry and the increasing adoption of cloud-based CRM solutions.

Underlying macroeconomic factors: The ASEAN region is experiencing rapid economic growth, with a growing middle class and increasing urbanization. This has led to an increase in consumer spending and a rise in demand for digital services. Additionally, the region's favorable business environment and government support for digitalization are driving the growth of the CRM software market. However, the market is also facing challenges such as data privacy concerns and the need for skilled professionals to manage CRM software.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.