Industry Research : Worldwide CRM Applications Market Forecast to Reach $18.2bn in 2011: Study
Worldwide CRM Applications market is expected to reach $18.2bn in 2011, an increase of 11% from 2010, According to International Data Corporation (IDC) in its latest results from the Worldwide Semiannual Customer Relationship Management (CRM) Applications Tracker.
IDC associate vice president Worldwide Software Trackers Wilvin Chee said the global CRM applications market recorded a very strong performance in the first half of this year, with revenues totaling $9.2bn. "The semiannual year-on-year growth of 13.3% was a third stronger than what it was a year ago," said Chee.
Out of the four functional markets, sales, marketing, and customer service are each expected to achieve double-digit growth in 2011. While the Contact Centre functional is not forecast to follow suit, it is nevertheless expected to recover very strongly from a prior year decline of 3.6%. In terms of geography, Americas and Europe will be registering at least double the growth of 2010.
A total of 18 vendors (two more than during the first half of 2010) achieved revenues of more than $100m revenue during the first half of 2011 (1H11). Combined, these vendors captured a total market share of 63% with the remainder shared among 170 vendors and others. The two new vendors that surpassed the $100m revenue mark in 1H11 were Nuance Communications and Reynolds & Reynolds.
Oracle remained the number 1 CRM vendor worldwide, growing above the market average and the only vendor that earned double-digit market share (13.2%) during the first half of 2011. Salesforce.com continued to impress with the best year-over-year growth (22.6%) among the top 10 vendors during the same period and moving into the number 2 position worldwide for the first time since IDC started tracking the market semiannually in 2008. Within the top 10, SAP and NICE Systems were the other vendors that had stronger than overall market growth.
Posted by Veronica Silva Cusi, news correspondent
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Published: Monday, December 26, 2011