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

  • Microsoft Warns IT Pros on Windows Netlogon Fix Coming Next Month

    Microsoft on Thursday issued a reminder to organizations to ensure that their systems are properly patched for a "Critical"-rated Windows Netlogon vulnerability before next month's "update Tuesday" patch distribution arrives.

  • Microsoft Nudging Skype for Business Users to Teams

    Microsoft on Thursday announced some perks and prods for Skype for Business unified communications users, with the aim of moving them to the Microsoft Teams collaboration service instead.

  • How To Improve Windows 10's Sound and Video Quality

    Windows 10 comes with built-in tools that can help users get the most out of their sound and video hardware.

  • Microsoft Offers More 'Solorigate' Advice Using Microsoft 365 Defender Tools

    Microsoft issued yet another article with advice on how to use its Microsoft 365 Defender suite of tools to protect against "Solorigate" advanced persistent threat types of attacks in a Thursday announcement.

comments powered by Disqus