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 Ups Its Windows 10 App Compatibility Assurances

    Microsoft gave assurances this week that organizations adopting Windows 10 likely won't face application compatibility issues.

  • SharePoint Online Users To Get 'Modern' UI Push in April

    Microsoft plans to alter some of the tenant-level blocking capabilities that may have been set up by organizations and deliver its so-called "modern" user interface (UI) to Lists and Libraries for SharePoint Online users, starting in April.

  • How To Use PowerShell Splatting

    Despite its weird name, splatting can be a really handy technique if you create a lot of PowerShell scripts.

  • New Microsoft Customer Agreement for Buying Azure Services To Start in March

    Microsoft will have a new approach for organizations buying Azure services called the "Microsoft Customer Agreement," which will be available for some customers starting as early as this March.

comments powered by Disqus
Most   Popular

Office 365 Watch

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.