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Four Interesting Insights From Gartner 2020 CRM Market Share Update

Four Interesting Insights From Gartner 2020 CRM Market Share Update

“The worldwide CRM market grew by 12.6% to $69.3 billion in 2020, up by $7.77 billion from 2019. CRM is the software market  and the third fastest-growing” according to the Gartner, Market Share Analysis: Customer Experience and Relationship Management Software, Worldwide, 2020, by Julian Poulter, Yanna Dharmasthira, Neha Gupta, Amarendra, 16 June 2021.

Gartner found that “Digital commerce grew at a rate of 17.1%, up from 13.2% growth in the prior year, highlighting the shift to digital”. The research firm also defined a new CRM submarket called Cross-CRM comprised of Customer Data Platform (CDP) and Voice of the Customer (VoC) spending. According to Gartner, “Customer Service and Support (CSS) also continues to be the largest segment in the overall CRM market, accounting for 35.5%share. The following graphic compares the top five vendors’ revenue by subsegments:

Additional interesting insights from Gartner latest CRM market share update include the following:

Source:

Gartner, ‘Market Share Analysis: Customer Experience and Relationship Management Software, Worldwide, 2020’, Julian Poulter, Yanna Dharmasthira, Neha Gupta, Amarendra, June 16, 2021 (client access required)

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