News

IDC Predicts Big Growth in CRM Market

Massachusetts-based research firm IDC recently released a report in which it predicted enormous growth in the customer relationship management (CRM) market during the next four years.

IDC (www.idc.com) looked at the development of CRM solutions within the context of a closed-loop CRM system. It is the data warehousing aspect of the closed-loop CRM system that the research firm expects will see phenomenal growth.

As part of its research IDC outlined the critical steps to establishing a closed-loop CRM system. These include the incorporation of customer interaction, customer data integration, customer data analysis, and customer interaction personalization.

At the end of 1999 sales in the CRM market -- including software and services -- came in just under $4.2 billion. By 2004, IDC predicts that gross CRM revenue will surpass $20 billion. And while more than half of the current revenue total is generated by software sales, it is expected that services will make up about 55 percent of all revenue by 2004.

IDC says that companies providing CRM services, as well as software solutions will be in the best position to help develop the evolving CRM-centric data warehousing model. - Alicia Costanza

About the Author

Scott Bekker is editor in chief of Redmond Channel Partner magazine.

Featured

  • Windows Server 20H1 Getting Smaller Containers and Faster PowerShell

    Microsoft is promising to deliver a smaller container size and improved PowerShell performance with its next release of Windows Server.

  • Microsoft Previews Microsoft Teams for Linux

    Microsoft on Tuesday announced a "limited preview" release of Microsoft Teams for certain Linux desktop operating systems.

  • Hyper-V Architecture: Some Clarifications

    Brien answers two thought-provoking reader questions. First, do Hyper-V VMs have direct hardware access? And second, how is it possible to monitor VM resource consumption from the host operating system?

  • Old Stone Wall Graphic

    Microsoft Addressing 36 Vulnerabilities in December Security Patch Release

    Microsoft on Tuesday delivered its December bundle of security patches, which affect Windows, Internet Explorer, Office, Skype for Business, SQL Server and Visual Studio.

comments powered by Disqus

Office 365 Watch

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.