Logo
BodyBGTop
Gartner Finds CRM Was the Largest Software Market in 2017
The worldwide CRM software revenue reached nearly 40 billion in 2017.
Posted Apr 13, 2018
Page 1

Customer relationship management has overtaken database management systems (DBMSs) as the largest software markets, according to research from Gartner. By the end of 2017, worldwide CRM software revenue had reached $39.5 billion; DBMS revenue, meanwhile, reached $36.8 billion over the same period.

According to Gartner’s research director, Julian Poulter, this is only the beginning for CRM. He predicts the market will keep growing throughout 2018 and beyond. “In 2018, CRM software revenue will continue to take the lead of all software markets and be the fastest-growing software market with a growth rate of 16 percent,” he told Information Age.

Trends such as the rise of mobile technology and the onset of the Internet of Things have led more companies to invest in CRM overall, though the specific solutions driving growth fall under the categories of lead management, voice-of-the-customer tools, and field service management technology. These areas are delivering roughly 20 percent of growth.

Lead management, the biggest driver of CRM sales, "integrates business process and technology to close the loop between marketing and direct or indirect sales channels, and to drive higher-value opportunities through improved demand creation, execution and opportunity management," Poulter told CRM Buyer.

Other areas such as marketing and sales technology have been growing as well, Poulter pointed out, and could drive increasing interest in CRM technology in the coming months and years, especially if those solutions are enveloped into broader CRM suites.

Another trend that could influence broader adoption of CRM is the introduction the European General Data Protection Regulation (GDPR). CRM systems house a wealth of sensitive data, and vulnerabilities across CRM tools could lead to noncompliance with the GDPR. To ensure that organizations protect themselves, they may make moves to introduce new, safer solutions that protect data as budgets for better technology increase.

Page 1
To contact the editors, please email editor@destinationCRM.com
Every month, CRM magazine covers the customer relationship management industry and beyond. To subscribe, please visit http://www.destinationCRM.com/subscribe/.
Related Articles
With consumers now in control of the conversation, businesses must start approaching the customer as a lifelong relationship that needs to be nurtured.
Here's how technology's continuing evolution (mobile, AI, the IoT) will impact CRM systems in the coming year and beyond.
While the advent of cloud-based marketing tools in the past several years has accelerated CRM, it has also served as the catalyst for the rapid proliferation of disparate data sources.
 
Search
Popular Articles
 

BodyBGRight
Home | Get CRM Magazine | CRM eWeekly | CRM Topic Centers | CRM Industry Solutions | CRM News | Viewpoints | Web Events | Events Calendar
DestinationCRM.com RSS Feeds RSS Feeds | About destinationCRM | Advertise | Getting Covered | Report Problems | Contact Us