CRM Spending Continues To Increase

Here’s the lowdown on yet another study on CRM, this time by Gartner. Sometimes I feel that CRM single-handedly keeps a lot of these research companies afloat. Anyway, a Gartner October 2007 study states that the European CRM software market is expected to grow at the rate of 12% in 2008. The growth rates in 2006 and 2007 were 8.2% and 14% respectively.

The forecast for CRM growth in 2008 is positive inspite of uncertainties in the financial market. The reason for this is that 66% of companies questioned as a part of the survey stated that CRM initiatives were one of their top three priorities for the year. A very interesting fact is that 2008 is the year when most companies will be shifting to new-generation CRM systems. So, it’s the end of one cycle that began somewhere in 2008. Spending in one sense is thus unavoidable. CRM modules or sub-sectors that will be the drivers for CRM deployment are SFA and marketing and analytics software.

Here’s more on the same topic.

Tags: CRM Research, Gartner