Canada Customer Relationship Management Market To Reach $10.17 Billion By 2030

Canada Customer Relationship Management Market Growth & Trends

The Canada customer relationship management market size is expected to reach USD 10.17 billion by 2030, growing at a CAGR of 14.7% from 2023 to 2030, according to the recent reports of Grand View Research, Inc. The rising demand for advanced technologies such as cloud computing, Artificial Intelligence (AI), and the Internet of Things (IoT) is promoting the adoption of connected devices as well as data-rich and analytics solutions across businesses and enterprises. These solutions enable the integration of intelligence capabilities into business operations and practices to facilitate improved and effective customer engagements while driving operational optimization.

Customer involvement is a focus for many businesses nowadays. As a result, consumer interaction is progressively taking center stage in customer relationship management (CRM) initiatives. This notably motivates businesses to release specialized products for social management, social measurement, and social monitoring, among others. A robust CRM platform may assist businesses in maintaining relationships with current clients while luring new ones. This is anticipated to excel the consumer demand for customer relationship management across Canada.

Expanding sales through internal channels is a top priority for businesses operating in various sectors and industry verticals to save costs and boost immediate results. They are actively investing in CRM systems to keep their current clients and protect their market share. In today's dynamic business climate, the capacity of manufacturing and service organizations to effectively keep their current clientele and attract new ones is emerging as a key component in determining their competitiveness. Market share is a common metric used by businesses to evaluate their efforts rather than sales volume, especially when the market is unstable. As a result, manufacturing organizations favor concentrating on client retention while encouraging growth through the already-existing customer base.

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Canada Customer Relationship Management Market Report Highlights

• The social media monitoring segment is anticipated to observe a CAGR of 17.3% during the forecast period. The number of organic interactions on social media aids in the transformation of data into a research opportunity, emphasizing customer pain areas and enhancing the overall experience

• The cloud segment is anticipated to observe a CAGR of 16.9% over the forecast period. Hosted solutions expand the customization potential and enable the use of analytical tools across a variety of business channels by enabling businesses to access data across linked devices at any time

• The telecom & IT segment is anticipated to observe a CAGR of 16.5% during the forecast period. To maintain a competitive position in the market, the established players in the IT and telecom sectors must reassess their strategy and integrate cutting-edge technologies into their company operations. Over the projected period, this is anticipated to accelerate the use of customer relationship management

• The SMBs segment is anticipated to observe a CAGR of 16.4% during the forecast period. This growth might be ascribed to the increase in small and medium organizations’ need for reliable monitoring solutions and automation capabilities for strategic decision-making and resource allocation

• Key market players have an extended operating history, a large customer base, and significant competitive strengths. In addition to the inorganic growth strategies, vendors emphasize improving after-sale service offerings to ensure periodic maintenance of installed products

Canada Customer Relationship Management Market Segmentation

Grand View Research has segmented the Canada customer relationship management market based on solution, deployment, application, and end-use:

Canada Customer Relationship Management Solution Outlook (Revenue, USD Billion, 2018 - 2030)

• Customer Service

• Customer Experience Management

• Analytics

• Marketing Automation

• Salesforce Automation

• Social Media Monitoring

• Others

Canada Customer Relationship Management Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

• On-premise

• Cloud

Canada Customer Relationship Management Application Outlook (Revenue, USD Billion, 2018 - 2030)

• BFSI

• Retail

• Healthcare

• Telecom & IT

• Discrete Manufacturing

• Government & Education

• Others

Canada Customer Relationship Management End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Large Enterprises

• SMBs

List of Key Players in the Canada Customer Relationship Management Market

• Adobe Systems Inc.

• Creatio

• Genesys

• HubSpot Inc.

• IBM

• Insightly, Inc.

• International Business Machines Corporation

• Microsoft

• Oracle Corporation

• Pegasystems Inc.

• Sage Group PLC

• Salesforce.com, Inc.

• SAP SE

• Verint Systems, Inc.