Customer Experience MetriCast 2023 – CRM Size and Spending Forecast

This year’s Customer Experience MetriCast 2023 market size and forecast report for CRM solidifies the importance of managing customer data for organizations with the majority of companies using CRM.

A total of 56% of organizations are using CRM now, and another 17% say they plan to do so by the end of 2023. This report provides details on CRM spending, market size, forecast and vendor selection, along with segmentation by size and global region. Highlights of the study include the following:

• CRM platforms are most widely used by midmarket and large enterprises, ranging in size from 251 to 1,000 +employees: 60% to 62% of companies in this size range use CRM as part of their CX strategy.
• Regionally, CRM platforms are most widely adopted in North America (62% of companies have adopted), followed by Asia-Pacific (55%) and Europe (49%).
• The global market size for CRM platforms was $71.3 billion in 2022, up 17% YoY. We are forecasting the market to grow at a 7% 2022-27 CAGR, reaching $100.7 billion by 2027.
• Numerous companies offer CRM, which is predominantly delivered as a cloud service today. With more than 20 CRM vendors in the market, Salesforce is the market share leader, based on 2022 CRM revenue. Salesforce is followed by Microsoft and Adobe.
• With companies that already have adopted CRM, 57% have no plans to replace their primary provider. The rest either are either replacing, have plans to replace, are evaluating replacing their provider, or are unsure. High cost tops the reasons for replacement.
• We track the percentage of each provider’s customers that plan to stay with that provider, as well as the percentage of research participants who are evaluating or planning a switch to new provider. Companies evaluating making a chance had Microsoft, Oracle, and SAP as the leading vendors under evaluation.