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Industry Research : IDC: Global CRM Apps Market Grew by 6% in 2010
According to IDC, the global Customer Relationship Management driven applications market has registered a year-over-year growth of 6.2% and posted revenues of $16.5bn, according to the IDC Worldwide Semiannual Customer Relationship Management Applications Tracker.
Despite consisting of just four functional markets, the overall CRM applications market remains fragmented with many vendors eyeing to gain market share, said the IDC report.
Outside the top three vendors, a total of 19 vendors achieved more than $100m in CRM software revenue during 2010, representing more than 35% of total market share.
In today’s ever changing enterprise space, CRM applications represent a vibrant market opportunity. Experts believe that in an interconnected world of global commerce the customer experience and relationship will be the key differentiator.
Within the customer service market, three of the top 5 large countries (UK, Germany and France) are forecast to grow at an 8.2% annual rate in 2011, while Australia, Brazil, Canada, China, India, and Russia are expected to drive strong growth in the marketing applications market.
With the exception of Brazil, these same countries are forecast to experience even stronger growth in the sales applications market. IDC is expecting that the CRM applications market will continue on this trajectory in 2011 with revenues approaching $18bn on 7.6% year-over-year growth. This is surely going to further boost the CRM applications market.
Posted by veronica Silva Cusi, news correspondent
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Published: Friday, July 1, 2011