By the end of the first quarter 2018, revenues from the CRM (Customer Relationship Management) market had outperformed those of DBMS (DataBase Management Systems), making CRM the largest market in the software industry.
For the period January to December 2017, CRM software sales generated $39.5 billion, compared to $36.8 billion for DBMS.
According to expert predictions, it is expected that revenues for CRM software will remain the top market performer for 2018, and will also show the highest growth rate of 16%. Growth will be driven by lead management, customer opinion management, and after-sales management software, each of which has been growing at over 20% during the past 18 months.
The CRM solution providers covering the entire customer relationship cycle, including after sales service, are the fastest growing, thanks to their ability to cross-sell additional modules.