Global Social Customer Relationship Management (CRM) Market to reach USD 507.54 billion by 2027.
Global Social Customer Relationship Management (CRM)Market is valued approximately USD 27.2billion in 2020 and is anticipated to grow with a healthy growth rate of more than 51.9% over the forecast period 2021-2027. Web 2.0 and Big Data technology have enabled the creation of a new customer engagement strategy centered on engagement and collaborations known as Social Customer Relationship Management (Social CRM). Customers will be more engaged and satisfied as a result of this. Implementing Social CRM is a difficult endeavor that requires consideration of several organizational, human, and technology factors. In today's business environment, social Customer Relationship Management (CRM) solutions are growing rapidly. With the internet and social media, businesses are integrating social media into CRM software, paving the door for social CRM to emerge as a new network. In B2C enterprises, there is a considerable increase in demand for CRM solutions. With roughly 23.5 percent and 22.0 percent of the market, respectively, the retail and BFSI segments emerged as the major shareholders in 2020. Banking and financial institutions utilize CRM systems because they enable them create a better customer experience.Furthermore, Big Data enhances Social CRM by allowing for more precise decision-making and a more effective exchange of information among social consumers and the organization. In Social CRM, Big Data technologies can be used for a variety of applications. Commercial suggestion, which suggests the commodity or solution with the best chance of success for each customer, is one of them.Businesses are also developing new products to expand and reinforce their approved projects and attract potential investors, which is one of the factors driving market growth. Salesforce.com, Inc., for example, purchased Mulesoft, an integration software business, in March 2018. Mulesoft's connectivity technologies and huge buyer base were made available to the company as part of the deal.However, the lack of methodologies to aid organizations in these operations is impeding industry expansion. Also, the abundance of open information available on the internet from a diversity of ways and domains is rapidly increasing, and it currently represents a significant body of knowledge that can help develop opportunities for Social CRM.

With the demand for more business-specific solutions for companies, North America is likely to be the largest market in terms of sales revenues. While growing investments in the Social CRM Market are likely to boost market growth in Asia-Pacific (APAC) in the years ahead. The elements that drive growth during the forecast period are the market's great perspective in respect of venture capital investments.

Major market player included in this report are:
IBM Corporation
Jive Software, Inc.
Lithium Technologies, LLC
Microsoft Corporation
NetSuite, Inc.
Oracle Corporation
Pegasystems,Inc.
Salesforce.com, Inc.
SAP SE
SugarCRM, Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
Marketing
Sales
Customer support & service
Others
By Deployment type:
On demand
On premise
By Solutions:
Social Monitoring
Social Mapping
Social Middleware
Social Management
Social Measurement
By Users:
Small and Medium Businesses
Enterprises
By Verticals:
Academia & Government
Automotive, Transportation and Logistics
BFSI
Consumer Goods and Retail
Energy, Power and Utilities
Healthcare
Oil and Gas
Telecom and IT



By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Social Customer Relationship Management (CRM) Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors