Customer Experience MetriCast 2024: CRM Market Share & Forecast 3Q24

Metrigy’s Customer Experience MetriCast 2024 market study highlights the growing importance of CRM for managing customer data, with adoption increasing significantly in 2024 as more organizations recognize its vital role in driving business success.A total of 74.5% of organizations are using CRM now, up 18.9 points from the 2023 CX MetriCast study. Another 14.5% had planned to begin using CRM by the end of 2024. This report provides details on CRM spending, market size, forecast and market share, along with segmentation by size and global region. Highlights of the study include the following:

• CRM platforms are widely adopted by companies of all sizes, with the highest use among the smallest and largest of them: 75.9% of companies with 250 or less employees and 78.9% of enterprise organizations with more than 2,500 employees are using CRM.
• Regionally, CRM platforms are most widely adopted in Europe (76.1% of companies have adopted), followed by APAC (74.8%) and North America (73.8%).
• The global market size for CRM platforms was $78.2 billion in 2023, up 11% year over year (YoY). We are forecasting the market to grow at a 6% 2023-28 CAGR, reaching $103.6 billion by 2028.
• Numerous companies offer CRM, which is predominantly delivered as a cloud service today. With more than 30 CRM vendors in the market, Salesforce is the global revenue market share leader with 23.2% of CRM revenue in calendar-year 2023. Salesforce is followed by Microsoft, Adobe, and Oracle. This vendor order remains the same through 3Q24; however, Salesforce has gained share with 25.9% of global revenue in 3Q24.
• Global CRM revenue is on track to be $84.3 billion in 2024, with revenue from 1Q24 through 3Q24 at $59.8 billion.
• With companies that already have adopted CRM, 60% have no plans to replace their primary provider. The rest either are either replacing, have plans to replace, are evaluating replacing their provider, or are unsure. High cost tops the reasons for replacement (35.6%), closely followed by integrations not being extensive enough (32.3%).
• We track the percentage of each provider’s customers that plan to stay with that provider, as well as the percentage of research participants evaluating or planning a switch to a new provider. The top vendors under evaluation were Microsoft (40.3%), Oracle (27.1%), and Zendesk (23.0%), but Salesforce was the top vendor installed last year.
• For those companies evaluating CRM providers, the most important criteria was reliability, followed by technical features and customer service.