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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Asia Pacific Customer Relationship Management Market Outlook
The Asia Pacific customer relationship management market size reached USD 13.20 billion in 2023. The market is expected to grow at a CAGR of 10.4% between 2024 and 2032, reaching USD 33.66 billion by 2032.
Key Takeaways:
- As per the State Council of China , total retail sales of consumer goods reached USD 6.63 trillion in 2023.
- As per the World Health Organization , China’s government health expenditure was over CNY 1640 billion.
- As per the Economic Development Board , technology spending in Singapore in the year 2022 was just over SGD 21.2 billion.
The Asia Pacific customer relationship management market growth is led by rising sales of consumer goods in the retail industry coupled by growth in the BFSI sector and IT and telecommunication sectors.
Given the intricate customer interactions and strict regulatory frameworks that characterize the BFSI industry, CRM solutions become particular important tools. Such systems help in managing diverse customer information, automating sales processes, and meeting legal obligations such as Know Your Customer (KYC). Furthermore, personalized service delivery and maintaining a strong relationship with customers are needed in a highly competitive environment in the BFSI industry.
Technology is shaping customer experience throughout multiple industries in the domestic region. As of February 2023, Zoho Corporation, unveiled the latest version of Bigin, the company’s CRM solution for small businesses.
The Information Technology (IT) & Telecommunications sectors make a significant contribution to the Asia Pacific customer relationship management market by using CRM systems to manage client interaction, sales pipelines, and service delivery effectively. Within this realm, lead management, customer support ticketing and project management features on CRM platforms address issues regarding high customer churn rates as well as protracted sales cycles.
Market Segmentation
Asia Pacific Customer Relationship Management Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
- Solutions
- Services
Market Breakup by Deployment Mode
- Cloud
- On-Premises
Market Breakup by Enterprise Size
- Small and Medium Enterprises (SMEs)
- Large Enterprises
Market Breakup by Application
- Sales and Marketing
- Customer Service
- Digital Commerce
- Others
Market Breakup by End Use
- BFSI
- IT and Telecom
- Retail
- Healthcare
- Government and Education
- Discrete Manufacturing
- Others
Market Breakup by Country
- China
- Japan
- India
- ASEAN
- Australia
- Others
The customer relationship management market key players are IBM Corporation, Oracle Corporation, SAP SE, Microsoft Corporation, Salesforce, Inc., Adobe Inc., Infor Inc., Sage Group Plc, Zoho Corp., Pegasystems Inc., and Freshworks Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment Mode |
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| Breakup by Enterprise Size |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 13.20 billion in 2023.
The market is projected to grow at a CAGR of 10.4% between 2024 and 2032.
The revenue generated from the customer relationship management market is expected to reach USD 33.66 billion in 2032.
Based on component, the customer relationship management market is split between solutions and services.
The key players are IBM Corporation, Oracle Corporation, SAP SE, Microsoft Corporation, Salesforce, Inc., Adobe Inc., Infor Inc., Sage Group Plc, Zoho Corp., Pegasystems Inc., and Freshworks Inc., among others.
Based on the application, the market is split between sales and marketing, customer service, digital commerce, and others.
Based on the country, the market is split into China, Japan, India, ASEAN, Australia, and others.
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