Worldwide CRM Spending to Reach $19.6 Billion by 2005
Growth varies by vertical industry; U.S. continues to dominate
BOSTON, MA — July 18, 2002— In a report released today, Aberdeen Group, a leading market analysis and positioning services firm, states that worldwide Customer Relationship Management (CRM) spending will remain nearly flat for the remainder of 2002 but will resume growth in 2003 and reach $19.6 billion by 2005. This research is the work product of Aberdeen's CRM practice, which covers emerging and established companies in CRM and analyzes marketing, technology, and business trends.
"The economic slowdown has affected all sectors of the technology market," says the report's co-author, Denis Pombriant, managing director of Aberdeen's CRM practice. "We expect 2002 CRM spending to grow only 2% over 2001, reaching $13.74 billion by the end of the year. However, double-digit growth should resume in 2003 and we expect CRM spending to reach $19.6 billion by 2005."
Aberdeen research indicates that a large part of future CRM growth will come from midsize enterprises and/or the adoption of relatively new CRM application categories, such as Sales Force Effectiveness and Partner Relationship Management. The report further suggests that as the U.S. and global economies resume spending growth in 2003, CRM will gain increased penetration into markets outside of the U.S.
The report breaks down global CRM spending by geographic region. In addition, for the U.S. it provides CRM spending and growth forecasts by vertical industry and organization size.
"Clearly, U.S. CRM spending is being adversely affected by a slowdown in the telecom and financial services sectors," states report co-author and Senior Vice President Hugh B. Bishop. "Other sectors, however, are picking up some of the slack."
For more information about the report, "Worldwide CRM Spending: Forecast and Analysis 2001-2005," visit www.aberdeen.com or call (800) 577-7891. For more information about Aberdeen's CRM practice, contact Denis Pombriant at pombriant@aberdeen.com or (617) 854-5285. |
