Key regions: Japan, China, South Korea, United Kingdom, Canada
The demand for Customer Relationship Management (CRM) software in Eastern Europe has been steadily increasing in recent years.
Customer preferences: Businesses in Eastern Europe are increasingly recognizing the importance of customer satisfaction and loyalty in their operations. As a result, they are turning to CRM software to help manage customer interactions, improve customer experience, and ultimately increase customer retention. Additionally, many companies are looking for ways to streamline their operations and improve efficiency, and CRM software can help with this by automating tasks and providing better data analysis.
Trends in the market: One trend that has emerged in the Eastern European CRM market is the growing popularity of cloud-based solutions. This is due in part to the lower upfront costs and ease of implementation associated with cloud-based systems. Another trend is the increasing importance of mobile compatibility, as more and more customers are using mobile devices to interact with businesses. As a result, CRM software providers are developing mobile-friendly versions of their products to meet this demand.
Local special circumstances: One factor that has contributed to the growth of the CRM market in Eastern Europe is the region's large and diverse population. With over 200 million people spread across multiple countries and languages, there is a significant need for software that can help businesses manage customer interactions across different cultures and languages. Additionally, many Eastern European countries have undergone significant economic and political changes in recent years, leading to a greater emphasis on customer service and satisfaction.
Underlying macroeconomic factors: The overall economic growth in Eastern Europe has also contributed to the growth of the CRM market. With many countries in the region experiencing rising incomes and increased consumer spending, businesses are looking for ways to differentiate themselves and gain a competitive edge. CRM software can help with this by providing better customer insights, improving customer engagement, and ultimately increasing sales. Additionally, the region's relatively low labor costs have made it an attractive destination for outsourcing and offshoring, further driving 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.
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