Global Banking Customer Relationship Management CRM Software Market Overview 2024, Forecast To 2033
11 Sep, 2024
The banking customer relationship management (CRM) software market size has grown rapidly in recent years. It will grow from $13.13 billion in 2023 to $15.40 billion in 2024 at a CAGR of 17.3%. The growth in the historic period is driven by increasing demand for self-service banking, automated customer insights software, cloud solutions, and funding for R&D initiatives. The banking CRM software market is expected to continue its rapid growth, reaching $29.39 billion in 2028 at a CAGR of 17.5%. This forecasted growth can be attributed to rising demand from small and medium-sized businesses, increasing competitors in the CRM software industry, the growing use of internet banking, digitalization of the banking sector, and mobile banking popularity. Key trends in the forecast period include technology development, digital innovation, AI and ML incorporation, advanced analytics and BI tool integration, and the use of blockchain in CRM systems.
Global Banking Customer Relationship Management CRM Software Market Key Driver
The growing online banking services are expected to propel the growth of the banking customer relationship management (CRM) software market going forward. Online banking is a convenient and efficient method for customers to manage their finances and perform various banking transactions electronically through secure platforms. The prominence of online banking is rising due to convenience, security, and easy access to a wide range of financial services. Banking CRM software manages and analyzes customer interactions and data across digital channels, enhancing customer service, personalizing experiences, and improving operational efficiency. For instance, in July 2024, Worldmetrics reported that online banking transactions reached $9.8 billion in 2024 and are projected to hit $161.6 billion by 2028. Therefore, the growth of online banking services is driving the expansion of the banking CRM software market.
Get A Free Sample Of The Banking Customer Relationship Management CRM Software Market ReportGlobal Banking Customer Relationship Management CRM Software Market Segments
The banking customer relationship management (CRM) software market covered in this report is segmented –
1) By Offering: Solution, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Application: Customer Service, Customer Experience Management, Customer Relationship Management (CRM) Analytics, Marketing Automation, Salesforce Automation, Other Applications
By Geography:The regions covered in the banking customer relationship management (CRM) software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the banking customer relationship management (CRM) software market in 2023.
Major Banking Customer Relationship Management CRM Software Industry Players
Microsoft Corporation, Oracle Corporation, Salesforce Inc., Fiserv Inc., Infor Global Solutions, Sage Group, Genesys Cloud Services Inc., HubSpot Inc., Zoho Corporation, Pegasystems Inc., Temenos AG, Acidaes Solutions Private Limited (CRMNEXT), Creatio, SAP SE, Doxim Inc., SugarCRM Inc., Kapture CX, NexJ Systems Inc., Leadsquared Inc., Claritysoft LLC, Liferay Inc.
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Banking Customer Relationship Management CRM Software Market Overview
Banking customer relationship management (CRM) software is a specialized system designed to help financial institutions manage their interactions with current and potential customers. This software enables banks to streamline and enhance customer service, improve customer retention, and drive sales growth by centralizing and analyzing customer data.
Banking Customer Relationship Management CRM Software Global Market Report 2023 provides data on the global banking customer relationship management crm software market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The banking customer relationship management crm software market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.