The Only Way Is Up
Updated · Nov 29, 2001
Boston-based research firm Aberdeen Grouphas released a new report, “Worldwide CRM Spending Forecast and Analysis 2001-2005,” that reveals resumed growth for the CRM market, despite current economic conditions.
The report outlines the expected spending for critical CRM market segments, such as
Sales Force Automation, Marketing Automation, Customer Service Automation, Field Service Management, Help Desk, and Partner Relationship Management, and predicts that CRM revenues will increase at a compound annual growth rate (CAGR) of 19.9 percent over the next five years — from $13.45 billion in 2001 to $27.76 billion in 2005.
“At present, the CRM market is being negatively affected by economic conditions and worldwide events, resulting in an overall market contraction for the second half of this year,” says Hugh Bishop, report co-author. “However, thanks to the clear return on investment (ROI) and rapidly increasing adoption in overseas markets, the global CRM market will rebound strongly from the worldwide slowdown in IT spending.”
Primarily authored by Aberdeen vice president of private equity services, David Wright, the report also reveals a projected breakdown of worldwide CRM spending by region for 2001-2005; a breakdown and analysis of the top CRM markets by country; worldwide and regional CRM growth projections for 2001-2005; a dissection of regional spending by CRM market segment for 2001-2005; an analysis of CRM spending grounded in the ability of each region’s economic development level and real spending capability; and insight into the CRM market trends driving adoption by region.
“Overseas markets will be a primary growth engine for CRM,” states Christopher Fletcher, managing director of Aberdeen’s CRM practice. “Non-North American markets will contribute more than 38 percent of total worldwide CRM expenditures in 2001.”
The sixty-nine page
Robyn Greenspan, an independent researcher and speaker, is interested in innovation, market trends and information technology. She was a participant in the AI Summit and also took part in the IEEE International Conference on Edge Computing, International SOA Symposium series and the International Cloud Symposium series. She graduated from Temple University. She was previously the communications and research manager for the AMS, an internationally recognized professional association that advances knowledge in the IT and business management areas.