CRM is now the largest software market in the world
According to Gartner findings, global Customer Relationship Management (CRM) revenue amounted to US$39.5 billion at the end of 2017, overtaking database management systems (DBMS) which reached US$36.8 billion in the same year. Julian Poulter, research director at Gartner, says “CRM revenue will continue to take the lead of all software markets in 2018, with a growth rate of 16 percent.” The strong growth rate of CRM software revenue is driven in particular by lead management, field service management, and the vast amounts of valuable personal data consolidated in one place and kept for a considerable amount of time. “We have witnessed the rise of marketing technology and a recent resurgence in sales technology in the CRM market,” Poulter explained. As a result, this growing market continues to “attract many new entrants.”
