Open source customer relationship management (CRM) software refers to commercially supported or community developed open source CRM applications and platforms that provide customer acquisition, data management and customer support capabilities. Open source CRM software offers advantages like low upfront costs, vendor independence, flexibility and scalability. The growing adoption of cloud-based business applications and need for low-cost customer-centric solutions is driving the demand for open source CRM software among small and medium enterprises globally.
The Global open source CRM software market is estimated to be valued at US$ 2.99 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Global Open Source CRM Software Market Size are Invibio, PEEK Implants by Cendres+Métaux, SisoMM, MKPrecision, Evonik Industries AG. These players are focusing on product innovation and partnerships to strengthen their market position.
The growing demand for data-driven customer insights and need for 360 degree customer view is presenting significant opportunities for open source CRM software vendors. Furthermore, open source CRM capabilities like social CRM integration and predictive analysis are gaining popularity.
North American and European companies are increasingly adopting cloud-based open source CRM solutions to optimize customer support costs. Furthermore, major open source CRM players are focusing on partnerships and expansion in the Asia Pacific region to tap high growth opportunities.
Market Drivers
Growing popularity of cloud-based software solutions among SMEs: The flexibility, scalability and low maintenance costs of cloud-based open source CRM software is driving its adoption among cost-sensitive small and medium enterprises globally. This is a major growth driver for the market.
Market Restrains
Limited customization options: Open source CRM software offers limited options for customization as compared to proprietary/commercial solutions. This poses a challenge for enterprises with complex and customized business processes and requirements. Lack of dedicated support also restrains the growth of open source CRM market to some extent.
Segment Analysis
The on-premise segment holds the largest share in the Open source CRM software market due to large enterprises preferring on-premise deployment over the cloud. On-premise CRM software provide customization and complete control over licensing, updating, security and data storage which makes it a preferred choice for most enterprises. The small & medium enterprises segment is expected to be the fastest growing segment during the forecast period due to increasing adoption of cloud-based Open source CRM software by SMBs due to advantages like low installation & maintenance cost.
Global Analysis
The North America region dominates the global Open source CRM software market currently due to heavy investments in technologies by established players in countries like US and Canada. North America spends extensively on IT services including CRM software and expected to continue its dominance during the forecast period. The Asia Pacific region is anticipated to witness the highest growth rate during the forecast period. Rapid digitalization and growing internet penetration in developing countries of China and India are encouraging SMBs to adopt cost-effective cloud-based Open source CRM software in this region.
Get More Insights On This Topic: Open Source CRM Software Market
Customer relationship management (CRM) software enables a business to perform limitless business intelligence in an organized process without being stymied by friction resulting in a better relationship with customers.
The math behind having a better relationship with your customers is workable with a CRM software.
Creating a customer is no more a sole business purpose.
Fire or ice, brands need to even work on the relational intelligence in order to lead with a sense.
Basically, it is the connection that can make a brand more durable and assure a competitive edge.
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That is not strange at all, that the majority of those, who are deeply interested in the contribution into that really interesting and potentially successful environment are looking for the opportunities to do so.
For instance, nowadays, we could see a rapid increase in the number of open source applications upon different platforms.
So, making a long story short, an open source software is a software, which makes it possible for a user to view, copy and edit the code.
For instance, one of the most popular and famous proprietary softwares could be called Windows, Apple, WinRAR or App Store.
It erected, when different groups of programmers came up with an idea, that it seems to be impossible any more to follow the old traditions of the pioneers of that business, and there is a great need in a more open and free market.
There are several pretty important points, which give us an opportunity to say, that the open source softwares are one of the best modern decisions for the whole world of cyber industry.
December 19, 2018: This report focuses on the global Digital Asset Management Software status, future forecast, growth opportunity, key market and key players.
The study objectives are to present the Digital Asset Management Software development in United States, Europe and China.In 2017, the global Digital Asset Management Software market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2018-2025.The key players covered in this studyBynderWebdamAdobeCantoDownload sample Copy of This Report at: https://www.radiantinsights.com/research/global-digital-asset-management-software-market-size-status-and-forecast-2018-2025/request-sample Widen CollectiveIntelligenceBankThird LightOpenTextBrandfolderOracle DIVAdirectorAsset BankFileMakerBrandworkzView summary of this report @ https://www.radiantinsights.com/research/global-digital-asset-management-software-market-size-status-and-forecast-2018-2025 PercolateAlgoba SystemsMomaSoftPimcoreSproutLoudAdgisticsDaminion SoftwareJGSullivan InteractiveRazunaZeticonMontalaShutterstock CompanyPictureparkTrustRadiusStrata CompanyMarket segment by Type, the product can be split intoCloudOn-PremisesMarket segment by Application, split intoMedia and EntertainmentHealthcareRetail and Consumer GoodsEducationBFSIAutomotive and ManufacturingOthers (Travel and Transportation,Utilities)Market segment by Regions/Countries, this report coversUnited StatesEuropeChinaJapanSoutheast AsiaIndiaCentral & South AmericaThe study objectives of this report are:To analyze global Digital Asset Management Software status, future forecast, growth opportunity, key market and key players.To present the Digital Asset Management Software development in United States, Europe and China.To strategically profile the key players and comprehensively analyze their development plan and strategies.To define, describe and forecast the market by product type, market and key regions.In this study, the years considered to estimate the market size of Digital Asset Management Software are as follows:History Year: 2013-2017Base Year: 2017Estimated Year: 2018Forecast Year 2018 to 2025For the data information by region, company, type and application, 2017 is considered as the base year.
Whenever data information was unavailable for the base year, the prior year has been considered.About Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process.
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In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.For More Information, Visit Radiant Insights Contact:Michelle ThorasCorporate Sales Specialist, USARadiant Insights, IncPhone: 1-415-349-0054Toll Free: 1-888-202-9519Email: [email protected] Blog URL: http://ictmarketforecasts.wordpress.com
