1. CRM Market Overview and Growth
CRM is valued at approximately $101.4 billion in 2024. [1]
The CRM market is projected to reach $262.74 billion by 2032, growing at a CAGR of 12.6%. [1]
91% of businesses with over 10 employees use a CRM system. [2]
Cloud-based CRM represents 87% of the market. [2]
74% of organizations have adopted a CRM system as of 2024. [3]
60% of small businesses use cloud-based CRM solutions.
Source: Zoho
Mobile CRM usage can improve productivity by 14.6%. [4]
CRM usage is projected to grow by 13.9% annually from 2023 to 2030. [5]
Salesforce leads the CRM market with a 23.9% share. [6]
2. CRM Benefits and Impact
Businesses using CRM see a 29% increase in sales and 34% improvement in productivity. [7]
CRM can increase customer retention rates by up to 27%. [8]
CRM systems can improve company revenue by up to 41%. [9]
CRM solutions save businesses an average of $8.71 for every dollar spent. [10]
Businesses experience a 14% reduction in their sales cycle with CRM. [11]
47% of CRM users say customer satisfaction has improved since implementing CRM systems. [12]
Businesses see an average 300% improvement in lead conversion rates with CRM. [13]
References:
1. Fortune Business Insights. (2023, August). Customer relationship management (CRM) market size, share & COVID-19 impact analysis, by component (software and services), by deployment (cloud and on-premises), by enterprise size (large enterprises and SMEs), by application (sales & marketing automation, customer management, lead generation & customer retention, customer support & contact center, and others), by vertical (banking, financial services, & insurance (BFSI), manufacturing, IT & telecommunications, retail & consumer goods, healthcare, transportation & logistics, and others), and regional forecast, 2023-2030. https://www.fortunebusinessinsights.com/customer-relationship-management-crm-market-103418
2. SuperOffice. (2022, October 22). CRM software statistics for 2023: 24 key insights and trends. SuperOffice. https://www.superoffice.com/blog/crm-software-statistics/
3. Freshworks. (2024, August 06). CRM statistics for 2023: Market data and adoption trends. Freshworks. https://www.freshworks.com/theworks/insights/crm-statistics/
4. Nucleus Research. (2012, March 07). Social CRM and mobile capabilities boost productivity by 26.4 percent, Nucleus Research finds. Nucleus Research. https://nucleusresearch.com/news/social-crm-and-mobile-capabilities-boost-productivity-by-26-4-percent-nucleus-research-finds/
5. Grand View Research. (2023). Customer relationship management (CRM) market size, share & trends analysis report by deployment (on-premise, cloud), by enterprise size, by end-use, by region, and segment forecasts, 2023 – 2030. Grand View Research. https://www.grandviewresearch.com/industry-analysis/customer-relationship-management-crm-market
6. Salesforce. (2024, May 1). IDC confirms Salesforce as #1 in CRM market share for 2024. Salesforce News. https://www.salesforce.com/news/stories/idc-crm-market-share-ranking-2024/
7. Salesforce. (n.d.). How Salesforce improves business performance. Salesforce. https://www.salesforce.com/ap/hub/business/how-salesforce-improves-business-performance/
8. Aberdeen Group
9. Zoho CRM
10. Nucleus Research. (2014, June). CRM pays back $8.71 for every dollar spent. Nucleus Research. https://nucleusresearch.com/wp-content/uploads/2018/05/o128-CRM-pays-back-8.71-for-every-dollar-spent.pdf
11. Nucleus Research. (2015, August 11). Data accessibility for sales teams shortens the sales cycle. Nucleus Research. https://nucleusresearch.com/research/single/data-accessibility-for-sales-teams-shortens-the-sales-cycle/
12. Capterra
13. Salesforce. (2023, July 17). Forrester study: Salesforce marketing cloud delivers 287% ROI. Salesforce. https://www.salesforce.com/news/stories/forrester-study-marketing-cloud-roi/