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Customer Relationship Management Software - Thailand

Thailand

Thailand is expected to witness significant growth in the Customer Relationship Management Software market.
According to projections, the revenue in this market is set to reach US$131.10m in 2024.
Furthermore, it is anticipated that the market will experience a compound annual growth rate (CAGR 2024-2029) of 11.42%, resulting in a market volume of US$225.10m by 2029.
In terms of spending, the average Spend per Employee in the Customer Relationship Management Software market is projected to reach US$3.26 in 2024.
This indicates the increasing importance businesses place on effective customer relationship management.
When looking at global comparisons, it is worth noting that United States is expected to generate the highest revenue in this market, reaching US$45,110.00m in 2024.
However, in Thailand has the potential to tap into this growing market and make a considerable impact in the coming years.
Thailand's growing digital economy drives the demand for Customer Relationship Management software, as businesses prioritize customer engagement and retention strategies.

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

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Analyst Opinion

The Customer Relationship Management Software market in Thailand has been seeing significant growth in recent years.

Customer preferences: Thai customers are increasingly looking for solutions that can help them manage their customer relationships more effectively. This has led to a growing demand for CRM software that can help businesses to better understand their customers, personalize their interactions, and improve their overall customer experience.

Trends in the market: One of the key trends in the Thai CRM software market is the increasing adoption of cloud-based solutions. Cloud-based CRM software offers a number of advantages over traditional on-premise solutions, including lower costs, greater flexibility, and easier scalability. As a result, many businesses in Thailand are now turning to cloud-based CRM software to help them manage their customer relationships more effectively.Another trend in the Thai CRM software market is the growing importance of mobile solutions. With more and more people in Thailand now using smartphones and other mobile devices to access the internet, businesses are increasingly looking for CRM software that can be accessed from anywhere, at any time. This has led to a growing demand for mobile CRM solutions that can help businesses to manage their customer relationships on the go.

Local special circumstances: One of the key factors driving the growth of the CRM software market in Thailand is the country's rapidly growing economy. As more and more businesses in Thailand look to expand their operations, they are increasingly turning to CRM software as a way to manage their customer relationships more effectively. In addition, Thailand's strong focus on customer service and hospitality has also contributed to the growing demand for CRM software in the country.

Underlying macroeconomic factors: Thailand's strong economic growth, coupled with its focus on customer service and hospitality, has created a favorable environment for the growth of the CRM software market in the country. In addition, the increasing adoption of cloud-based and mobile solutions has helped to drive the growth of the market, as businesses look for more flexible and scalable solutions to help them manage their customer relationships more effectively. Overall, the future looks bright for the CRM software market in Thailand, as businesses continue to invest in solutions that can help them stay ahead of the competition and provide their customers with the best possible experience.

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.