India Customer Relationship Management Market Outlook - Forecast Trends, Market Size, Share and Growth Analysis Report (2024-2032)

India Customer Relationship Management Market Growth

Growing demand for improving customer service, building loyalty, streamlining sales data, and optimising business processes are some of the prominent drivers for the growth of the India customer relationship management market. CRM solutions can categorise click-through rates and bounce rates, analyse them and aid companies in optimising their strategies regarding customer retention.

Several CRMs also contain dashboards that showcase business processes and workflows and allow the employees to see the areas in which they need to improve. Furthermore, this software encompasses the entire customer journey and can assist enterprises in making the right move for retaining potential customers.

Furthermore, CRM software also offers information regarding the most profitable customers and allows companies to focus more on their demands and requirements, optimising resource utilisation and boosting the India customer relationship management market revenue.

Key Trends and Recent Developments

Digital transformation, shift towards cloud computing, and growing importance of data analytics are increasing the India customer relationship management market value.

June 2024

Salesforce announced the launch of its Digital Lending CRM tool in India, providing banks and lenders with a one-stop solution to handle consumer lending digitally, reducing the cost of maintaining manual data. Built on Salesforce’s Financial Services Cloud platform, the CRM portal was integrated with banking and financial customer data sourced from Salesforce, offering a single view of customer information for loan application processing and approvals.

June 2024

Indian SaaS giant, Zoho Corporation introduced the upgraded Zoho CRM for its global customers, aiming at the expansion of customer relationship management (CRM) solutions for all teams involved in customer operations activities. The updated platform allowed sales teams to communicate and coordinate with other customer-facing teams from a single application instead of holding fragmented discussions on different platforms.

July 2023

The US-based cloud software company Salesforce launched Salesforce ‘Starter,’ a Customer Relationship Management (CRM) software for Indian MSMEs, featuring sales, business analytics and email marketing tools on a single platform.  These tools enabled businesses to view customer data spanning across different applications.

February 2023

The New Delhi-based NextBigBox launched its new CRM software to help customers boost business leads, sales, and targeted services through automated messaging, crucial for recording lead generation and customer feedback. This data was used to monitor consumer behaviour patterns and devise appropriate strategies to boost customer engagement.

Increased Digital Transformation Initiatives is Propelling the Growth of India Customer Relationship Management Market

The market is witnessing significant growth due to widespread digital transformation initiatives across various sectors. As businesses increasingly adopt digital technologies to enhance their operations and customer interactions, CRM solutions are becoming essential tools for managing customer data and relationships effectively. Companies are integrating CRM systems with other digital platforms, such as social media and e-commerce, to streamline processes and improve customer experiences. This shift toward digitalization is driving demand for CRM solutions that offer advanced features like automation, analytics, and real-time insights, further fueling the market's expansion.

Growing Focus on Customer Experience is Fuelling Customer Relationship Management Demand Growth

With rising competition in the Indian market, companies are placing a greater emphasis on enhancing customer experience as a key differentiator. Businesses are recognising that satisfied customers are more likely to remain loyal and make repeat purchases, leading to increased investments in CRM systems that facilitate personalised and seamless interactions. CRM tools enable organizations to gather and analyze customer data, enabling them to tailor their marketing efforts, improve service delivery, and foster long-term relationships. As companies prioritize customer-centric strategies, the demand for sophisticated CRM solutions is expected to grow significantly.

Adoption of Cloud-Based CRM Solutions is Leading to India Customer Relationship Management Market Development

The shift towards cloud computing is revolutionizing the market, with more businesses opting for cloud-based CRM solutions. These platforms offer numerous advantages, including cost-effectiveness, scalability, and ease of access, which make them particularly attractive for small and medium-sized enterprises (SMEs). Cloud-based CRM systems allow organizations to access customer data and collaborate in real-time, regardless of location, facilitating more agile decision-making. The increasing adoption of cloud technologies among Indian businesses is driving the growth of the CRM market, as companies seek to leverage these solutions to enhance their operational efficiency and customer engagement.

Rising Importance of Data Analytics is Driving the India Customer Relationship Management Market Expansion

The growing importance of data analytics is another significant factor propelling the India customer relationship management industry. As businesses accumulate vast amounts of customer data, the ability to analyze and derive actionable insights becomes crucial for informed decision-making. CRM systems equipped with advanced analytics capabilities allow organizations to segment customers, track their preferences, and predict future behaviour. This data-driven approach enables companies to create targeted marketing campaigns and improve customer service, resulting in higher satisfaction and retention rates. The increasing recognition of data analytics as a vital tool for enhancing business performance is driving the adoption of CRM solutions in India.

India Customer Relationship Management Industry Segmentation

“India 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 Region

• North India 
• East and Central India 
• West India 
• South India

India Customer Relationship Management Market Share

Based on enterprise size, the market is divided into small and medium enterprises (SMEs) and large enterprises. Large enterprises account for a significant market share as they consist of several divisions and CRM software can allow the companies to integrate the customer data in a consolidated platform so the employees can gain easy access to it. Moreover, there is a growing focus on AI-powered CRM software that can automate manual tasks and improve the productivity of business.

Leading Companies in the India Customer Relationship Management Market

The market players are integrating AI and ML capabilities in their software to gain a competitive edge in the market.

• IBM Corporation  
• Oracle Corporation 
• SAP SE 
• Microsoft Corporation 
• Salesforce, Inc. 
• Adobe Inc.  
• Infor Inc. 
• Sage Group Plc 
• Zoho Corp. 
• Pegasystems Inc. 
• Others