RnR Market Research, an online market research reports library, has added a customer relationship management market research report titled, "Customer Relationship Management Market & Social CRM (Social Monitoring; Social Listening; Social Mapping; Social Measurements; Social Engagement; Social Middleware) – Global Advancements, Forecasts & Analysis (2013 – 2018)."
Today, CRM is not limited to purposes such as increasing sales and improving marketing activities, but it can also foster more customer engagement with enterprises. This research forecasts the social CRM market to grow from $1.91 billion in 2013 to $9.08 billion in 2018. This represents a compound annual growth rate (CAGR) of 36.5 percent from 2013 to 2018. Specifically, North America is expected to be the biggest market in 2013, while Asia-Pacific (APAC) is expected to experience increased market traction in the coming years.
The report covers major vendors and companies that are moving towards social CRM. Providing 142 data tables and 64 figures on the CRM and social CRM markets, this report states that advancements in social CRM have made companies faster and more reachable and have also helped gather vital information on business analytics. Social CRM provides enterprises with several advantages including increased transparency, better communication of business ideas and information, flexibility and performance. The solution helps companies to establish customer engagements and increase their brand presence among customers. It focuses on capturing the customers need and creating value for them in a transparent business environment.