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Customer Relationship Management Software - United Kingdom

United Kingdom

Revenue in the Customer Relationship Management Software market is projected to reach US$4.59bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 11.64%, resulting in a market volume of US$7.13bn by 2028.
The average Spend per Employee in the Customer Relationship Management Software market is projected to reach US$129.10 in 2024.
In global comparison, most revenue will be generated in the United States (US$44,730.00m in 2024).

Key regions: Canada, United States, France, Netherlands, Germany

Market

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Analyst Opinion

The demand for Customer Relationship Management (CRM) Software in the United Kingdom has been on the rise in recent years.

Customer preferences: Customers in the UK are increasingly looking for software that offers a comprehensive view of customer interactions across multiple channels. They want to be able to analyze customer data to improve the customer experience and increase sales. Additionally, there is a growing preference for cloud-based CRM software which allows for easy accessibility and scalability.

Trends in the market: One of the biggest trends in the UK CRM software market is the integration of artificial intelligence (AI) and machine learning (ML). This technology is being used to automate routine tasks, provide predictive analytics, and improve the overall customer experience. Another trend is the increased use of mobile CRM software, allowing sales teams to access customer data on-the-go.

Local special circumstances: Brexit has had a significant impact on the UK economy, causing uncertainty and volatility in the market. However, this has not slowed down the demand for CRM software, as businesses continue to prioritize customer relationships in order to remain competitive. Additionally, the UK has a strong focus on data protection and privacy, which has led to the implementation of stricter regulations such as the General Data Protection Regulation (GDPR).

Underlying macroeconomic factors: The UK has a strong and diverse economy, with a large services sector that heavily relies on customer relationships. The rise of e-commerce and online businesses has also contributed to the demand for CRM software. Furthermore, the UK government has been investing in digital infrastructure and promoting the growth of technology startups, creating a favorable environment for the CRM software market.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.