15 Jul 2009

CRM technology 'in a strong market position'

The global CRM market revenue totalled $9.15 billion (£5.6 billion) in 2008, new statistics from Gartner have revealed.

Market growth was driven by the fact that enterprises have concentrated investment on technology which is targeted towards customer analytics, retention and on-demand solutions.

Further support for the market came from software as a service, which represented almost a fifth of total CRM software market revenue last year, the findings show.

Commenting on the figures, Sharon Mertz, research director at Gartner, stated: "Despite financial market volatility, the worldwide CRM market enjoyed its fifth consecutive year of double-digit growth as businesses continued to invest in solutions across all sub-segments."

She added that emerging markets have also delivered contributions to CRM growth.

One CRM solution which may have enjoyed market success is Microsoft Dynamics.

The corporation recently announced that new CRM accelerators for Microsoft Dynamics CRM could help companies establish business insight across social networks.