Customer Relationship Management Software - CIS

The market segment for Customer Relationship Management Software market is anticipated to witness a substantial growth in the coming years in the CIS region.
By 2024, the revenue is projected to soar to US$794.40m in the CIS region alone.
Furthermore, it is expected to exhibit a commendable compound annual growth rate (CAGR) of 9.38% from 2024 to 2029, resulting in a market volume of US$1.24bn by 2029.
In terms of spending, the average Spend per Employee in the Customer Relationship Management Software market is estimated to reach US$6.86 in 2024.
This indicates the increasing importance of CRM software in enhancing customer relationships and optimizing business processes.
On a global scale, United States is poised to be the leading revenue generator in the Customer Relationship Management Software market.
In 2024, United States is expected to generate a staggering revenue of US$45.11bn, surpassing other countries in the market.
This showcases the dominance of the United States in the adoption and utilization of CRM software.
The CIS region is set to experience significant growth in the Customer Relationship Management Software market, with the projected revenue and market volume indicating a promising future for businesses in this region.
The demand for Customer Relationship Management Software in the CIS market is 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.

For more information on the displayed data, use the info button right next to the boxes.

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 in the Commonwealth of Independent States (CIS) has been on the rise in recent years.

Customer preferences: The increasing demand for CRM software in CIS can be attributed to the growing need for businesses to improve customer experience and retention. Customers in CIS are becoming more tech-savvy and expect personalized services from businesses. CRM software helps businesses to manage customer data, provide personalized services, and improve customer satisfaction.

Trends in the market: One of the key trends in the CRM software market in CIS is the adoption of cloud-based CRM solutions. Cloud-based solutions offer several benefits such as cost-effectiveness, scalability, and accessibility from anywhere. This trend is particularly evident in small and medium-sized businesses that are looking for affordable CRM solutions.Another trend in the market is the integration of artificial intelligence (AI) and machine learning (ML) in CRM software. AI and ML help businesses to analyze customer data, predict customer behavior, and automate certain processes. This trend is expected to continue as businesses in CIS look for ways to improve efficiency and reduce costs.

Local special circumstances: One of the challenges facing the CRM software market in CIS is the lack of awareness and understanding of the benefits of CRM software among businesses. Many businesses in CIS are still using traditional methods of managing customer data and are not aware of the potential benefits of CRM software. This presents an opportunity for CRM software providers to educate businesses about the benefits of CRM software and increase adoption rates.

Underlying macroeconomic factors: The growing demand for CRM software in CIS can be attributed to the overall growth of the economy in the region. CIS countries have experienced economic growth in recent years, which has led to an increase in the number of businesses and a growing middle class. This has created a larger market for CRM software providers as businesses look to improve customer experience and retention to stay competitive.In conclusion, the CRM software market in CIS is growing due to the increasing demand for personalized customer services and the adoption of cloud-based solutions and AI/ML. However, there is a need for CRM software providers to educate businesses about the benefits of CRM software and increase adoption rates. The growth of the economy in CIS is also a key factor driving the demand for 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.

Imagine a world without the apps you use daily, the games you enjoy, or the websites you rely on. Software development is the invisible hand behind this digital magic, transforming ideas into the tools that shape our lives. Software development is the process of creating, designing, deploying, and supporting software. It includes all the computer activities between the software's conception and final manifestation.

These activities are planned and put into stages in a logical order, a process known as the software development life cycle (SDLC) or software development. The SDLC often includes six stages: requirement analysis, design, development, testing, implementation, documentation, and evolution. Programming languages such as JavaScript and C++ are used to create software, with JavaScript being the most popular programming language in 2023 and used by roughly 65 percent of software developers.