Worldwide customer relationship management (CRM) software revenue totaled $8.1 billion in 2007, a 23.1 percent increase from 2006 revenue of $6.6 billion, according to Gartner, Inc. Growth rates in emerging markets surged in 2007, and Asia/Pacific is rendering strong growth prospects for an increasing number of vendors as the CRM market expands into Singapore, Malaysia, Hong Kong, Vietnam and South Korea. Australia continues to be the largest market in Asia/Pacific, but China and India represent significant longer-term market opportunities. SAP was the No. 1 vendor in worldwide CRM software revenue in 2007, accounting for 25.4 percent of the market . Oracle maintained the No.2 spot with 16.3 percent of the market. SalesForce.com and Microsoft registered the highest growth rates of the top vendors with 49.8 percent and 88.6 percent growth, respectively.Sharon Mertz, research director at Gartner said, “The market was driven by greater contributions from emerging regions, continued rapid adoption of software as a service (SaaS), and a continued focus on investments that promote customer retention and enhance the customer experience.”“Though currency buoyed growth, this represents the fourth year of solid market performance for CRM,” He said.“Looking forward, social networking, collaborative technologies and social software are producing a major impact on the CRM market. Enterprises face increasing challenges to determine how best to harness these trends and technologies for growth, both internally and in their customer service strategies,” said Ms. Mertz. Shalini Ale/ITvoir Network |
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