By 2023, India will become a $2.3 billion C

2022-08-14
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By 2023, India will become a CRM service revenue market worth $2.3 billion

translated by Lao Qin Ye

CTI Forum () on January 1 on the e-commerce platform (compiled/Lao Qin): the data and analysis company GlobalData said that the overall expenditure of Customer Relationship Management (CRM) in India is expected to reach about $2.3 billion in 2023

according to the global data's market opportunity prediction model, the distribution materials of vehicle modified plastics mainly come from raw materials (more stable resin properties, additives), processing process (thermal oxidation, shear action) and molding process (injection temperature, pressure). By 2023, the expenditure of CRM BPO services will account for the main part of revenue (three quarters), while CRM applications will account for the rest

in terms of potential total CRM revenue, China and Japan will be second only to India, with total revenue estimated at $8billion and $5.6 billion respectively

the compound annual growth rate (CAGR) of CRM applications in India is expected to be 3.3% during the forecast period, while the contribution of large enterprises is expected to increase. In addition, it is estimated that the growth of CRM BPO in large enterprises will exceed that of small and medium-sized enterprises (SMEs)

Sunil kumarv Erma, chief analyst of ICT at GlobalData, commented that today's information technology driven society has led to the emergence of a global competitive market, leading enterprises to become more and more customer-centric. In this context, there is an increasing demand for enterprise C to avoid blindly buying instruments or buying instruments as decorations to show customers RM applications. Driven by their ability to attract, provide, satisfy and retain customers

over the years, CRM applications have changed from a single tool (accessible from one medium) to a multifaceted tool that can be provided on the cloud - running on a variety of platforms and supporting a wide range of scalability options. In addition, they can also be used to meet the needs of enterprise groups operating across multiple vertical industries

the availability of open markets, the accessibility of real-time interactive broadcasting platforms, the widespread adoption of mass communication tools and the knowledge of digital social media processing have further reduced the barriers between enterprises and customers

sunil concluded that with the support of technological advances such as artificial intelligence (AI), machine learning (ML) and analysis platforms, the CRM application market is expected to achieve further growth, and these technologies can be used on various social and mobile platforms. Therefore, they should choose CRM products so that they can contact, serve and interact with new customers in a more effective way, so as to improve the customer experience

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