Customer Relationship Management Software - Serbia

In 2024, the projected revenue for the Customer Relationship Management Software market is estimated to reach US$25.13m.
It is expected that this market will experience an annual growth rate of 14.53% from 2024 to 2029, resulting in a market volume of US$49.51m by 2029.
The average Spend per Employee in this market is projected to be US$7.74 in 2024.
When compared globally, United States is expected to generate the highest revenue, amounting to US$45.11bn in 2024.
in Serbia, being a country with a growing market, will contribute to these figures as well.
Serbia is experiencing a growing demand for Customer Relationship Management Software as businesses prioritize efficient customer management 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 Customer Relationship Management Software market in Serbia is experiencing significant growth in recent years.

Customer preferences: Serbian businesses are increasingly recognizing the importance of customer relationship management and adopting CRM software to manage their customer interactions. The software is being used to streamline their sales processes, improve customer engagement, and increase customer loyalty. Additionally, the trend towards digitalization has led to a greater need for CRM software, as businesses seek to manage their customer data more efficiently.

Trends in the market: One of the key trends in the Serbian CRM software market is the increasing adoption of cloud-based solutions. This is due to the numerous benefits offered by cloud-based CRM, including scalability, flexibility, and cost-effectiveness. Another trend is the growing importance of mobile CRM, as businesses seek to manage their customer interactions on-the-go. Additionally, there is a trend towards the integration of CRM software with other business systems, such as marketing automation and e-commerce platforms.

Local special circumstances: Serbia's economy is largely dominated by small and medium-sized enterprises (SMEs), which account for around 99% of all businesses in the country. This presents a significant opportunity for CRM software providers, as SMEs are increasingly recognizing the importance of customer relationship management. Additionally, the Serbian government has implemented a number of initiatives to support the growth of the country's IT industry, which is expected to drive further growth in the CRM software market.

Underlying macroeconomic factors: Serbia's economy has been growing steadily in recent years, with GDP growth of 4.2% in 2019. This has been driven by a number of factors, including strong exports and foreign investment. Additionally, the country's accession to the European Union is expected to bring further economic benefits, including increased trade and investment. These underlying macroeconomic factors are expected to support continued growth in the CRM software market in Serbia.

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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