Social Customer Relationship Management (CRM) Market by Solution (Social Monitoring, Social Listening, Social Mapping, Social Measurements, Social Engagement, Social Middleware), by Deployment (Hosted, On Premise) - Global Forecasts to 2019
[143 Pages Report] The overall global social CRM market is expected be $2.22 billion in 2014 and forecasted to be $17.92 billion by 2019 with a compound annual growth rate (CAGR) of 51.9% for 2014 to 2019.
Advancements in Social Customer Relationship Management (CRM) have made it faster, reachable and have also brought in vital information on business analytics. Enterprises are adopting social CRM as an additional channel in the overall CRM software solutions. Social CRM refers to a social layer on top of tradition CRM software solutions; these solutions provide enterprises with several advantages including increased transparency, better communication of business ideas and information, flexibility and performance. Social CRM helps companies to establish customer engagements and increase their brand presence among customers. Social Customer Relationship Management Market focuses on capturing the customers need and creating value for them in a transparent business environment.
Solutions such as Social Monitoring, Social Listening, Social Middleware, Social Management and Social Measurement are evolving, enabling enterprises to offer best in class experience to the customers. Today, Social Customer Relationship Management Market is not limited to increasing sales and improving marketing activities, but to bring in better customer engagement with the enterprises.
Cloud adoption among enterprises is also forcing Social CRM Market solution providers to opt for hosted deployments for software across various verticals. While the recent rush was along verticals such as financial services, insurance, telecom and retail, the future is going to be positive for other verticals as well. The increase in market share of hosted Social CRM is directly credited to the increase in its value proposition.
Major forces driving this market are the rising focus on customer engagement, emerging SMEs, social platforms and the recognition of sharing ideas on a real time basis. Enterprises are coming up with solutions for Social Monitoring, Social Listening, Social Middleware, Social Management and Social Measurement for providing the best in class customer experience to the customers.
Some of the major vendors are Microsoft, Oracle, Salesforce.com, Amdocs and IBM. Companies such as Lithium and Jive Inc. are moving towards social customer relationship management market and many others have ventured into it as well. MarketsandMarkets believes that the need for increasing enterprise CRM needs, along with social media boom is playing a pivotal role in shaping the future of emerging social CRM software. Social CRM solutions are bringing enterprises closer to their customers by utilizing the prevailing social platforms.
This research report categorizes the Social Customer Relationship Management Market for forecasting the revenues and analyzing the trends in each of the following sub-markets:
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On the basis of Applications:
- Marketing
- Sales
- Customer support & service
- Others (Innovations, Collaboration, Customer Experience)
On the basis of Deployment Type:
- On Demand (SaaS and PaaS)
- On Premise
On the basis of Solutions:
- Social Monitoring
- Social Mapping
- Social Middleware
- Social Management
- Social Measurement
On the basis of Users:
- Small & Medium Businesses (SMB)
- Enterprises
On the basis of Verticals:
- Academia & Government
- Automotive, Transportation and Logistics
- BFSI
- Consumer Goods and Retail
- Energy, Power and Utilities
- Healthcare
- Oil and Gas
- Telecom and IT
On the basis of Geography:
- North America (NA)
- Europe (EU)
- Middle-East Africa (MEA)
- Asia-Pacific and Japan (APAC)
- Latin America (LA)
Social Customer Relationship Management (CRM) solutions are gaining pace in the current enterprise ecosystem. With the boom of social media, enterprises are adopting social integration with CRM software as well, thus making way for social CRM as a new channel now days. Social Customer Relationship Management Market solutions combine traditional CRM solutions with social media for improving the customer engagement for enterprises. The solution provides a social platform for evolving businesses CRM needs, while also offering flexibility, in terms of reach, deployment, and administration. Social CRM incorporates the customer decisions into the planning mix and the feedback loop so as to engage customers with the enterprises.
Increase in the use of smart phones and tablets in enterprises have influenced the way sales and marketing departments work. It has led to the promotion of Bring Your Own Device (BYOD) culture among enterprises. This trend is also responsible for bringing in social feature in CRM software, thus making way for Social Customer Relationship Management Market solutions.
Investments in Social CRM Market will increase across geographies and verticals, with the need of more business specific solutions for enterprises. In terms of regions, North America is expected to be the biggest market in terms of revenue contribution in 2014, while Asia-Pacific (APAC) is expected to experience increased market growth in the coming years. The Market has shown a positive outlook in terms of venture capital funding. Companies such as Lithium, Acquia and SugarCRM have received encouraging venture capital funding. It is expected that, these solutions will move beyond marketing and sales functions into customer facing departments, improving brand value through better communications and seamless connectivity across all departments.
MarketsandMarkets expects the Social Customer Relationship Management market to grow from $2.22 billion in 2014 to $17.92 billion in 2019, at a CAGR of 51.9% from 2014 to 2019.
Overall Social Customer Relationship Management: Market Size ($Billion)
Source: MarketsandMarkets Analysis
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Table of Contents
1 Introduction (Page No. - 13)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered
1.3.3 Limitations
1.4 Currency
1.5 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Market Size Estimation
2.2 Market Breakdown and Data Triangulation
2.3 Market Share Estimation
2.3.1 Key Data from Secondary Sources
2.3.2 Key Data from Primary Sources
2.4 Assumptions
3 Executive Summary (Page No. - 24)
4 Premium Insights (Page No. - 29)
4.1 Global Social CRM Market Scenario
4.2 Social CRM Market: Top Three Solution Segments
4.3 Product Growth Matrix
4.4 Lifecycle Analysis, By Region, 2014
4.5 Chasm Plot
4.6 GoToMarket Strategy
4.7 Adoption Roadmaps
4.8 Apac Social CRM Market by Industry
5 Market Overview (Page No. - 36)
5.1 Introduction
5.2 Market Segmentation
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Focus on Enhancing Customer Engagement
5.3.1.2 Emerging SMBS
5.3.1.3 Ease to Use CRM Products and Services
5.3.2 Restraints
5.3.2.1 Security and Privacy of Data
5.3.2.2 Enterprise Readiness
5.3.3 Opportunities
5.3.3.1 Solutions for Business Specific Problems
5.3.3.2 Increasing Use of BYOD Devices
5.3.4 Challenges
5.3.4.1 High Patience Required Realizing the Benefits of Social CRM
5.3.4.2 Difficulty in Understanding the Industry-Specific Jargons
5.3.4.3 Sifting Through the Overload of Information
6 Industry Trends (Page No. - 44)
6.1 Value Chain Analysis
6.2 Porters Five Forces Analysis
6.2.1 Threat of New Entrants
6.2.2 Threat of Substitutes
6.2.3 Bargaining Power of Suppliers
6.2.4 Bargaining Power of Buyers
6.2.5 Intensity of Rivalry
7 Social CRM Market Analyses, By Application (Page No. - 48)
7.1 Introduction
7.2 Customer Service and Support
7.3 Marketing
7.4 Sales
7.5 Others (Innovations, Collaborations, Customer Experience)
8 Social CRM Market Analyses, By Solution (Page No. - 57)
8.1 Introduction
8.2 Social Monitoring and Social Listening
8.3 Social Mapping
8.4 Social Middleware
8.5 Social Management
8.6 Social Measurement
9 Social CRM Market Analyses, By Deployment Mode (Page No. - 65)
9.1 Introduction
9.2 Hosted
9.3 On-Premises
10 Social CRM Market Analyses, By End User (Page No. - 70)
10.1 Introduction
10.2 Small and Medium Businesses (SMBS)
10.3 Enterprises
11 Social CRM Market Analyses, By Vertical (Page No. - 74)
11.1 Introduction
11.2 Academia and Government
11.3 Automotive, Transportation, And Logistics
11.4 Banking , Financial Services, And Insurance (BFSI)
11.5 Consumer Goods and Retail
11.6 Energy, Power, and Utilities
11.7 Healthcare
11.8 Manufacturing
11.9 Telecom and It
11.10 Other Verticals
12 Geographic Analysis (Page No. - 86)
12.1 Introduction
12.2 North America (NA)
12.3 Europe
12.4 Latin America (LA)
12.5 Asia-Pacific (APAC)
12.6 Middle East and Africa (MEA)
13 Competitive Landscape (Page No. - 96)
13.1 Overview
13.2 Product Portfolio Comparison
13.3 Competitive Situation and Trends
13.4 Mergers and Acquisitions
13.5 New Product Launches
13.6 Partnerships, Agreements, Joint Ventures, and Collaborations
13.7 Expansions
14 Company Profiles (Page No. - 105)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MNM View)*
14.1 Introduction
14.2 IBM
14.3 Jive Software
14.4 Lithium
14.5 Oracle
14.6 Salesforce
14.7 Microsoft
14.8 Netsuite
14.9 Pegasystems
14.10 Sap
14.11 SugarCRM
*Details On Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MNM View Might Not Be Captured In Case Of Unlisted Companies.
15 Appendix (Page No. - 135)
15.1 Industry Experts
15.2 Discussion Guide
15.3 Introducing RT: Real Time Market Intelligence
15.4 Available Customizations
15.5 Related Reports
List of Tables (74 Tables)
Table 1 Social CRM Market Size and Growth, 2012-2019 ($Million, Y-O-Y %)
Table 2 Focus on Customer Engagement Is Propelling the Growth of The Social CRM Market
Table 3 Security and Privacy Concerns Are the Major Obstacles Hampering the Growth Of The Social CRM Market
Table 4 Increasing BYOD Adoption Provides Significant Opportunity for Vendors In The Social CRM Market
Table 5 Sifting Through the Overload of Information Is a Major Challenge For The Social CRM Market
Table 6 Global Social CRM Market Size, By Application, 20122019 ($Million)
Table 7 Customer Service and Support: Social CRM Market Size, By Region, 20122019 ($Million)
Table 8 Customer Service and Support: Social CRM Market Size, By Vertical, 20122019 ($Million)
Table 9 Customer Service and Support: Social CRM Market Size, By Deployment, 20122019 ($Million)
Table 10 Marketing: Social CRM Market Size, By Region, 20122019 ($Million)
Table 11 Marketing: Social CRM Market Size, By Vertical, 20122019 ($Million)
Table 12 Marketing: Social CRM Market Size, By Deployment, 20122019, ($Million) 53
Table 13 Sales: Social CRM Market Size, By Region, 20122019 ($Million)
Table 14 Sales: Social CRM Market Size, By Vertical, 20122019 ($Million)
Table 15 Sales: Social CRM Market Size, By Deployment, 20122019 ($Million)
Table 16 Others: Social CRM Market Size, By Type, 20122019 ($Million)
Table 17 Others: Social CRM Market Size, By Region, 20122019 ($Million)
Table 18 Others: Social CRM Market Size, By Vertical, 20142019 ($Million)
Table 19 Others: Social CRM Market Size, By Deployment, 20122019 ($Billion)
Table 20 Social CRM Market Size, By Solution, 20122019 ($Million)
Table 21 Social Monitoring and Social Listening: Social CRM Market Size,By Deployment Mode, 20122019 ($Million) 60
Table 22 Social Monitoring and Social Listening: Social CRM Market Size, By Region, 20122019 ($Million) 60
Table 23 Social Mapping: Social CRM Market Size, By Deployment Mode,20122019 ($Million) 61
Table 24 Social Mapping: Social CRM Market Size, By Region,20122019 ($Million) 61
Table 25 Social Middleware: Social CRM Market Size, By Deployment Mode, 20122019 ($Million)
Table 26 Social Middleware: Social CRM Market Size, By Region,20122019 ($Million) 62
Table 27 Social Management: Social CRM Market Size, By Deployment Mode, 20122019 ($Million)
Table 28 Social Management: Social CRM Market Size, By Region, 20122019 ($Million) 63
Table 29 Social Measurement: Social CRM Market Size, By Deployment Mode, 20122019 ($Million)
Table 30 Social Measurement: Social CRM Market Size, By Region,20122019 ($Million) 64
Table 31 Social CRM Market Size, By Deployment Mode, 20122019 ($Million)
Table 32 Hosted Deployments: Social CRM Market Size, By Region,20122019 ($Million) 67
Table 33 Hosted Deployments: Social CRM Market Size, By Vertical,20122019 ($Million) 68
Table 34 On-Premises Deployment: Social CRM Market Size, By Region,20122019 ($Million) 69
Table 35 On-Premises Deployment: Social CRM Market Size, By Vertical,20122019 ($Million) 69
Table 36 Social CRM Market Size, By End User, 20122019 ($Million)
Table 37 SMB: Social CRM Market Size, By Solution, 20122019 ($Million)
Table 38 SMB: Social CRM Market Size, By Region, 20122019 ($Million)
Table 39 Enterprise: Social CRM Market Size, By Solution, 20122019 ($Million)
Table 40 Enterprise: Social CRM Market Size, By Region, 20122019 ($Million)
Table 41 Social CRM Market Size, By Vertical, 20122019 ($Million)
Table 42 Academia and Government: Social CRM Market, By Deployment Type, 20122019 ($Million)
Table 43 Academia and Government: Social CRM Market Size, By Region,20122019 ($Million) 77
Table 44 Automotive, Transportation and Logistics: Social CRM Market Size,By Deployment Type, 20122019 ($Million) 78
Table 45 Automotive, Transportation and Logistics: Social CRM Market Size, By Region, 20122019 ($Million) 78
Table 46 BFSI: Social CRM Market Size, By Deployment Type, 20122019 ($Million)
Table 47 BFSI: Social CRM Market Size, By Region, 20122019 ($Million)
Table 48 Consumer Goods And Retail: Social CRM Market Size, By Deployment Type, 20122019 ($Million)
Table 49 Consumer Goods and Retail: Social CRM Market Size, By Region, 20122019 ($Million) 80
Table 50 Energy, Power, And Utilities: Social CRM Market Size, By Deployment Type, 20122019 ($Million)
Table 51 Energy, Power, and Utilities: Social CRM Market Size, By Region,20122019 ($Million) 81
Table 52 Healthcare: Social CRM Market Size, By Deployment Type,20122019 ($Million) 82
Table 53 Healthcare: Social CRM Market Size, By Region, 20122019 ($Million)
Table 54 Manufacturing: Social CRM Market Size, By Deployment Type, 20122019 ($Million) 83
Table 55 Manufacturing: Social CRM Market Size, By Region, 20122019 ($Million) 83
Table 56 Telecom and It: Social CRM Market Size, By Deployment Type, 20122019 ($Million) 84
Table 57 Telecom and It: Social CRM Market Size, By Region, 20122019 ($Million)
Table 58 Other Verticals: Social CRM Market Size, By Deployment Type,20122019 ($Million) 85
Table 59 Other Verticals: Social CRM Market Size, By Region, 20122019 ($Million) 85
Table 60 Social CRM Market Size, By Region, 20122019 ($Million)
Table 61 NA: Social CRM Market Size, By Application, 20122019 ($Million)
Table 62 NA: Social CRM Market Size, By Solution, 20122019 ($Million)
Table 63 Europe: Social CRM Market Size, By Application, 20122019 ($Million)
Table 64 Europe: Social CRM Market Size, By Solution, 20122019 ($Million)
Table 65 LA: Social CRM Market Size, By Application, 20122019 ($Million)
Table 66 LA: Social CRM Market Size, By Solution, 20122019 ($Million)
Table 67 APAC: Social CRM Market Size, By Application, 20122019 ($Million)
Table 68 APAC: Social CRM Market Size, By Solution, 20122019 ($Million)
Table 69 MEA: Social CRM Market Size, By Application, 20122019 ($Million)
Table 70 MEA: Social CRM Market Size, By Solution, 20122019 ($Million)
Table 71 Mergers and Acquisitions, 20112014
Table 72 New Product Launches, 20112014
Table 73 Partnerships, Agreements, Joint Ventures, And Collaborations,20112014 103
Table 74 Expansions, 20112014
List of Figures (49 Figures)
Figure 1 Market Scope and Segment Definitions
Figure 2 Global Social CRM Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Break Down Of Primary Interviews: By Company Type, Designation, and Region
Figure 6 Data Triangulation Process
Figure 7 the Evolution of Social CRM
Figure 8 NA Dominates the Social CRM Market
Figure 9 Top Three Revenue Segments in Social CRM Market
Figure 10 Manufacturing Is Expected To Grow With the Highest CAGR during The Forecast Period
Figure 11 Customer Service and Support an Attractive Segment for Social CRM Vendors
Figure 12 Attractive Market Opportunities in Social CRM
Figure 13 Top Three Solutions in Social CRM Market
Figure 14 Social Monitoring and Listening Expected To Be the Fastest Growing Revenue Pocket For Social CRM Market Players
Figure 15 APAC Entering Exponential Growth Phase in the Social CRM Market
Figure 16 Social CRM Market: Chasm Plot
Figure 17 Go-To-Market Strategies
Figure 18 Consumer Goods and Retail Sector to Witness A Consistent High Adoption Trend During The Forecast Period
Figure 19 Telecom and It and Consumer Goods And Retail Are The Leading Segments In Terms Of Market Share In APAC Region For 2014
Figure 20 Market Ecosystem: Social CRM
Figure 21 Customer-Centric Approach and Customer Engagements By Businesses Are Driving The Social CRM Market
Figure 22 Social CRM: Value Chain Analysis
Figure 23 Social CRM: Porters Five Forces Analysis
Figure 24 Applications of Social CRM
Figure 25 Customer Support and Services Is Expected To Have the Highest Growth Rate in The Forecast Period
Figure 26 Evolution of Social CRM from CRM
Figure 27 Social Monitoring Expected To Have the Highest Growth Rate In The Forecast Period
Figure 28 Hosted Vs. On-Premises Social CRM Deployment
Figure 29 Hosted Deployment Expected To Have the Highest Growth Rate
Figure 30 SMBS Expected To Have the Highest Growth Rate At 55.7% during The Forecast Period
Figure 31 Manufacturing Expected To Have the Highest Growth Rate At 54.5% during The Forecast Period
Figure 32 Geographic Snapshot: APAC Is Emerging As a New Hotspot
Figure 33 APAC Expected To Have the Highest Growth Rate At 69.4% during the Forecast Period
Figure 34 APAC: An Attractive Destination for Social CRM Vendors
Figure 35 North American Market Snapshot: Demand Is Driven By Increasing Demand for Social CRM Solutions
Figure 36 Companies Adopted Mergers and Acquisitions as the Key Growth Strategy to Expand Their Presence in The Market
Figure 37 Companies Adopted Mergers and Acquisitions as the Key Growth Strategy to Expand Their Presence in The Market
Figure 38 Area Chart Showing Historical CAGR Of Top 4 Players
Figure 39 Market Evaluation Framework
Figure 40 Battle for Market Share: Mergers and Acquisition Has Been the Key Strategy
Figure 41 Geographic Revenue Mix of Top 5 Market Players: Reference
Figure 42 IBM: Company Snapshot
Figure 43 Jive Software: Company Snapshot
Figure 44 Oracle: Company Snapshot
Figure 45 Salesforce: Company Snapshot
Figure 46 Microsoft: Company Snapshot
Figure 47 Netsuite: Company Snapshot
Figure 48 Pegasystems: Company Snapshot
Figure 49 Sap: Company Snapshot
Growth opportunities and latent adjacency in Social Customer Relationship Management (CRM) Market