CRM Analytics Market Size, Share, and Industry Analysis, By Type (Sales Analytics, Customer Analytics, Contact Center Analytics, and Social Media Analytics), By Deployment (On-premises and Cloud), By Industry (BFSI, IT & Telecom, Manufacturing, Retail, Healthcare, and Others), and Regional Forecast, 2024-2032

CRM (Customer Relationship Management) analytics refers to the analysis of CRM data to develop actionable insights and inform business decisions. It involves the use of statistical analysis, data mining, and predictive modeling techniques to understand customer behaviors, trends, and preferences. CRM analytics is used by businesses to improve customer interactions, increase sales and profitability, and enhance customer satisfaction. CRM analytics helps identify patterns and indicators of customer churn. By recognizing these early warning signs, businesses can implement targeted retention strategies to reduce attrition and maintain a stable customer base.

Moreover, the sales team can use CRM analytics to identify the most promising leads, understand customer buying behaviors, and tailor their sales approaches accordingly. This can result in higher sales efficiency and effectiveness. In addition, CRM analytics uses historical data to forecast future customer behaviors and trends. This predictive capability allows businesses to anticipate customer needs, optimize inventory, and plan more effectively for future demands. For instance,

• In September 2022, Turo, a car rental marketplace, selected SpringML, Inc. as a partner for developing a CRM analytics solution with Salesforce. This partnership is expected to help Turo to improve its decision-making throughout its operations.

Impact of Generative AI on the CRM Analytics Market

The generative AI (artificial intelligence) model can help businesses improve predictive analytics by generating more accurate forecasts of customer behaviors, market demands, and sales trends. This enables businesses to anticipate customer needs, refine marketing strategies, and optimize inventory. With generative AI, businesses can generate personalized content for individual customers, such as tailored product recommendations, personalized email campaigns, and customized marketing messages. This enhances customer engagement and loyalty by delivering relevant and timely communications. Also, generative AI can enhance CRM data by filling in missing information,  correcting errors, and updating records with real-time data. This ensures that CRM databases are accurate and up-to-date, improving the quality of insights derived from the data. For instance,

• In August 2023, IBM and Salesforce collaborated to help businesses across the globe to boost the adoption of AI technology for CRM. This collaboration will help customers to transform their businesses with the adoption of generative AI technology.

Segmentation

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by the Key Players


• Impact of Generative AI on the Global CRM Analytics Market


• Consolidated SWOT Analysis of Key Players

Analysis By Type

By type, the market is divided into sales analytics, customer analytics, contact center analytics, and social media analytics.

The sales analytics segment held the highest market share, as it helps identify cross-selling and upselling opportunities by analyzing customer purchase history and behavior. This enables sales teams to recommend additional products or services that are likely to interest customers, increasing revenue. Further, sales analytics provides detailed insights into the performance of sales campaigns, individual sales agents, and specific products. This tracking helps managers identify areas for improvement and make data-driven decisions to optimize sales processes.

Regional Analysis

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The global CRM analytics market is distributed into five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific. North America accounted for the highest market share in 2023. Businesses in the region recognize the competitive advantage that CRM analytics provides. By understanding customer needs more precisely, companies can offer personalized services and products by differentiating themselves from the market. Thus, the rising adoption of CRM analytics among businesses will augment the market's growth.

The distribution of the global CRM analytics market by region of origin is as follows:

• North America – 35%


• South America – 5%


• Europe – 28%


• Middle East & Africa – 10%


• Asia Pacific – 22%

Key Players Covered

The key players in this market include IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, SAS Institute, Inc., Salesforce Inc., Teradata Corporation, Accenture PLC, Infor, Angoss Software Corporation, Infosys Ltd, and many others.

Key Industry Developments

• In June 2023, Proton.ai engaged in a partnership with Infor. Through this collaboration, Proton aims to help distributors by integrating AI technology into CRM solutions, which will enhance their customer experience.


• In April 2022, Salesforce, Inc. launched a novel CRM analytics solution enabled by AI technology. It will help service leaders, sales leaders, and employees across industries, such as financial services, consumer goods, manufacturing, and others, to deliver more personalized experiences for customers.