TECH SUPPLIER Apr 2018 - Market Forecast - Doc # AP43416218
Asia/Pacific (Excluding Japan) Customer Relationship Management Forecast, 2017–2021
By: Wong Yih Khai, Sang-Hyuk Doh, Quan Xiong Ng, Tipyada Sricharoen, Sandeep SharmaResearch Manager, APeJ – Software
This IDC study analyzes the Asia/Pacific (excluding Japan) (APEJ) customer relationship management (CRM) software market, covering market trends, advice for technology suppliers, market forecast, and significant market developments. The CRM software market continues to grow, with the demand for cloud solutions driving the growth of this market in APEJ. The overall CRM market is expected to reach US$4.5 billion by 2021, growing at a five-year compound annual growth rate (CAGR) of 18.4%.
"We are seeing an accelerating adoption of CRM solutions across APEJ, especially in terms of SaaS consumption. Leading countries in this region include China, Australia, New Zealand, India, and Singapore. As more organizations are moving up in terms of maturity and beginning to focus on enhancing customer experience and providing world-class services across different platforms, CRM applications will continue to be the go-to solution for organizations to achieve their goals. Vendors with a compelling story that revolves around understanding customer trends incorporating artificial intelligence (AI), machine learning, and chatbots will resonate well and have the upper hand in this very competitive and price-sensitive market," says Yih-Khai Wong, senior market analyst, IDC Asia/Pacific Software Research Group.
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