CRM Market Growth Rate Plummets: Study
Spending on the global customer relationship management market, which had grown 100% in 2000, came screeching to a near-halt in 2001, and will increase by only 6% this year, according to a new study.
The white paper, Global Market Size and Trends for CRM in 2001, which was released by the UK-based Hewson Consulting Group, indicated that the total CRM market will amount to $8.06 billion.
According to Hewson, growth in Europe will outstrip that of North American, increasing by 15%, to $1.92 billion in 2001. Additionally, the entire market will be poised for a recovery in 2002 as marketers realize they must invest in CRM and evaluate their return on investment and business strategies.
The increase will come regardless of the economic conditions in the United States or Europe, the report said. With an anticipated 40% growth in 2002, the total market would be valued at just over $11.3 billion.
The Hewson Group evaluates the market’s value based on the licenses and services sold directly to marketers.
