The global mobile CRM market is anticipated to grow from US$ 13.5 Bn in 2021 to over US$ 26.2 Bn in 2022, according to a recent analysis by Future Market Insights. (FMI).
Several factors, such as the growing usage of smartphones and the development of new technology solutions, are driving the growth of the mobile CRM industry. Businesses are relying on solutions that mobilize customer relationship management to adopt agility and dexterity as two of their basic values. This would surely benefit the mobile CRM market by 2029, creating new chances for suppliers to diversify their product lines and increase sales.
Real-time access to crucial information is reportedly no longer a “nice to have,” but rather a must to support successful operations as digitized workforces expand. Customer happiness is a top priority for modern firms, and they are constantly looking for detailed information that their mobile sales teams can use. This is paving the way for the widespread use of mobile CRM solutions through the year 2029.
According to the survey, “CRM on demand” is one of the major trends bringing about significant changes in the mobile CRM industry as firms increasingly resort to cloud-based suites that promise enormous flexibility and scalability.
The BFSI sector, whose sales are expected to surpass US$ 3 Bn in 2022, is one of the early adopters of mobile CRM through 2021 and beyond. Retail units are anticipated to overtake BFSI as one of the largest customers of mobile CRM solutions in the latter part of the assessment period as a result of the retailers’ rapid adoption of these platforms for optimizing various parts of their sales funnels. By 2028, it is anticipated that the use of mobile CRM in healthcare would increase as more healthcare services throughout the world focus on “value-based care” models.
The research report predicts that major firms will lead the way in adopting mobile CRM, followed by medium-sized businesses. Mobile CRM adoption will surely fly to new heights inside these firms as they work harder to engage customers positively and remain highly competitive. Revenue prospects for mobile CRM market participants are still impending as sales employees across all organizations, regardless of their size, fight to make knowledgeable, “data-driven,” judgments.
‘Pay-Per-Use’ Pricing Model: A Strategy Winning Over End Users
Due to the shifting tastes of end users, key suppliers in the mobile CRM industry are primarily focused on R&D investments for continued innovations. Due to end-user preference for flexible pricing, which is driving away from subscription models and placing price behind efficiency as the second-most significant factor influencing purchase decisions, vendors are offering flexible “pay per use” pricing structures.
The growth strategy of industry participants will continue to be heavily reliant on acquisitions and joint ventures. For instance, in February 2021 AMDOCS declared that it had purchased Ubiquity, a recognized provider of cutting-edge technology services and digital content services. AMDOCS will get access to new premium content capabilities, such as licensing, processing, and distribution, and will be positioned at the center of increased convergence within the content community as a result of this transaction.
Key Segments of Mobile CRM Industry Survey
Mobile CRM Market by Product Type:
- Mobile CRM for Large Enterprises
- Mobile CRM for Medium Enterprises
- Mobile CRM for Small Enterprises
Mobile CRM Market by Vertical:
- Mobile CRM for BFSI
- Mobile CRM for Telecom
- Mobile CRM for Healthcare
- Mobile CRM for Retail
- Mobile CRM for Automotive
Mobile CRM Market by Region:
- North America Mobile CRM Market
- Latin America Mobile CRM Market
- Europe Mobile CRM Market
- East Asia Mobile CRM Market
- South Asia & Pacific Mobile CRM Market
- Middle East & Africa (MEA) Mobile CRM Market