Social CRM Market Update, Analysis and Forecast Report, 2017 – 2024

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Social CRM Market Update, Analysis and Forecast
Report, 2017 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of Social CRM Market

• The U.S. dominated the social CRM market and is
  projected to continue the same over the forecast
  time span. Increasing investments from
  organizations for promoting customer retention
  and enhancing customer experience have led to the
  industry growth in the region. Moreover, the
  rising demand for these solutions from SMBs will
  further fuel the regional growth.
• Asia Pacific is predicted to grow at a
  significant rate over the forecast timeline owing
  to increasing number of SMEs in the emerging
  economies including China and India. Moreover,
  venture capital funding has propelled the
  regional growth. Europe is expected to showcase
  an exponential growth rate owing to the demand
  from various sectors such as finance, retail,
  travel, and utility in the UK. Moreover, the
  rising need for developing effective marketing
  campaigns will further fuel the growth of social
  CRM market in the region.

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• Application Analysis of Social CRM Market
• By application, social CRM market is divided into
  marketing, sales, customer service support, and
  others. Marketing and sales are expected to
  showcase dominance in this segment. It is
  attributed to the rising need of organizations to
  increase sales and improve marketing activities.
  Customer service and support is also anticipated
  to grow significantly over the forecast time
  frame. These solutions have enhanced the
  interaction between enterprises and their
  customers by utilizing prevailing social
  platforms.
• Various companies are increasingly shifting their
  focus toward this software for enhanced
  interaction with their consumers. For instance,
  in June 2015, Pizza Hut implemented social CRM by
  adopting Azure as its infrastructure platform for
  faster interaction with customers. It moved the
  web systems entire databases and back-end
  servers to Azure for enabling the development of
  mobile application.

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Competitive Market Share of Social CRM Market

• Oracle, Lithium, Salesforce, SAP CRM, IBM Corp.,
  Microsoft, Jive Software, NetSuite, Pegasystems,
  SugarCRM, RightNow CRM, and Buzzient are a few
  industry players. Most of the industry players
  are adopting strategies, such as acquisitions,
  alliances, and product innovations, for setting
  foothold in the market. For instance, in June
  2017, Microsofts subsidiary LinkedIn announced
  the acquisition of Heighten for sales
  productivity software. This strategy will help
  the company extract more value from the social
  network and connect it to CRM and external sales
  processes.

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