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Global CRM software grew 15.6% in 2018: Gartner
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SME Times News Bureau | 17 Jun, 2019
Global spending on customer experience and relationship management (CRM)
software grew 15.6 per cent to touch $48.2 billion in 2018, a new
report from Gartner said on Monday.
CRM remains both the largest and the fastest growing enterprise application software category.
Worldwide
enterprise application software revenue totalled more than $193.6
billion in 2018, a 12.5 per cent increase from the 2017 revenue of
$172.1 billion.
"Cloud growth has dropped slightly in 2018 but
remains strong at 20 per cent and significantly above the overall growth
rate of 15.6 per cent for CRM," Julian Poulter, Senior Director Analyst
at Gartner, said in a statement.
"As an early mover to the
Cloud, CRM software is probably seeing a gradual reduction in cloud
growth rates due to high adoption," the statement added.
The top five CRM software vendors accounted for more than 40 per cent of the total market in 2018.
The
top five vendors had very little change in ranking compared with 2017,
although Microsoft climbed into the fifth position, narrowly displacing
Genesys.
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