Social Customer Relationship Management Market focuses on leveraging social tools and sites, to generate opportunities for enterprises in creating effective brand presence among its customers. It integrates traditional CRM solutions with social media for improving the overall customer engagement for enterprises.
MarketsandMarkets forecasts the Social CRM Market to grow from $1.91 billion in 2013 to $9.08 billion in 2018. This represents a compound annual growth rate (CAGR) of 36.5% from 2013 to 2018. In terms of regions, North America is expected to be the biggest market in 2013, while Asia-Pacific (APAC) is expected to experience increased market traction in the coming years.
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The report Customer Relationship Management (CRM) & social CRM Market (2013-2018) defines and segments the global CRM software market into various sub-segments with in-depth analysis and forecasting of revenues. It also identifies drivers and restraints for this market with insights on trends, opportunities, and challenges.
Major forces driving this market are the rising focus on customer engagement, emerging SMEs, social platforms and the recognition of sharing ideas on a real time basis. Enterprises are coming up with solutions for Social Monitoring, Social Listening, Social Middleware, Social Management and Social Measurement for providing the best in class customer experience to the customers. Today, CRM is not limited only for increasing sales and improving marketing activities, but to bring in more customer engagement with the enterprises.
MarketsandMarkets has segmented the global CRM and social CRM market by type of deployment models: On-premise, Hosted and Hybrid; By type of Applications: Marketing, Sales, Support and Service, Collaborations, Innovations and Customer Experience; By type of solutions: Social Monitoring, Social Listening, Social Mapping, Social Management, Social Middleware and Social Measurement; By type of service consumers: Small and Medium Businesses (SMB), Enterprises; By type of verticals: Banking, Financial Service and Insurance (BFSI), Academia and Government, Healthcare, Consumer Goods and Retail, Telecom and IT, Oil and Gas and Energy, Power and Utilities By Regions: North America (NA), Asia-Pacific (APAC), Europe, Middle East and Africa (MEA) and Latin America (LA). The report also provides insights on the demand analysis of specific CRM features and evaluates the usage percentage of CRM solutions, across all departments such as IT, R&D, Marketing, Sales, HR, and Operations.
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