Customer Relationship Management Software - Central & Western Europe

In Central & Western Europe, the projected revenue in the Customer Relationship Management Software market is estimated to reach US$14.47bn by 2024.
This market segment is expected to exhibit an annual growth rate (CAGR 2024-2029) of 9.35%, resulting in a market volume of US$22.63bn by 2029.
Furthermore, the average Spend per Employee in the Customer Relationship Management Software market is projected to reach US$83.51 in 2024.
When compared globally, it is anticipated that United States will generate the highest revenue in this market segment, with an estimated amount of US$45.11bn in 2024.
In Germany, the adoption of Customer Relationship Management software has been driven by the need for efficient customer data management and personalized marketing strategies.

Definition:

The Customer Relationship Management Software market covers software applications that support organizations in managing their interactions with customers, clients, and prospects. These applications help organizations during the entire life cycle of a customer including sales, marketing, customer services, and contact center to improve their customer engagement, increase customer loyalty, and grow their business.

Products in the Customer Relationship Management Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Additional Information:

The Customer Relationship Management Software market comprises revenue and revenue growth as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by enterprises (B2B) and governments (B2G).

Key players in this market include Salesforce, SAP, Adobe, and Oracle.

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Sales applications, such as Zendesk Sell, LinkedIn Sales Navigator, and HubSpot Sales
Marketing applications, such as Keap, ActiveCampaign, and Constant Contact
Contact center applications, such as CloudTalk, Google Cloud Contact Center AI, and Talkdesk
Customer service applications, such as Zendesk, Freshdesk, and Salesforce

CRM analytics, such as Tableau, Microsoft Power BI, and SAS Customer Intelligence
Custom applications, such as Sphinx Solutions, CHI Software, and Intellectsoft

The demand for Customer Relationship Management (CRM) software is on the rise in Central & Western Europe, driven by various factors such as the growth of e-commerce, increasing competition, and the need for more efficient customer service.

Customer preferences: Customers in Central & Western Europe are increasingly looking for personalized and seamless experiences across multiple channels. They expect companies to understand their needs and preferences and offer tailored solutions. CRM software helps companies manage customer data, analyze customer behavior, and provide personalized communication, which is essential for retaining customers and increasing customer loyalty.

Trends in the market: Germany, France, and the UK are the largest markets for CRM software in Central & Western Europe. In Germany, the market is driven by the need for better customer service and the increasing use of mobile devices. In France, the market is growing due to the adoption of cloud-based CRM solutions and the increasing demand for social media integration. The UK market is driven by the need for more efficient sales processes and the increasing adoption of AI-powered CRM solutions.

Local special circumstances: In Central & Western Europe, there are various local regulations that companies need to comply with when collecting and storing customer data. For example, the General Data Protection Regulation (GDPR) in the EU requires companies to obtain explicit consent from customers before collecting their data and to provide them with the option to opt-out. Additionally, there are cultural differences across countries that affect customer preferences and the way companies approach customer service.

Underlying macroeconomic factors: The CRM software market in Central & Western Europe is also influenced by macroeconomic factors such as GDP growth, unemployment rates, and technological advancements. The region has experienced moderate GDP growth in recent years, which has led to increased consumer spending and a growing demand for CRM solutions. Additionally, the region has a highly skilled workforce and is home to many innovative tech companies that are driving the adoption of new technologies such as AI and machine learning in CRM software.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

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