Europe Cloud CRM Market Size (2024 - 2029)

Europe Cloud CRM Market Analysis

The European Cloud CRM Market was valued at USD 11.51 billion in the previous year and is expected to register a CAGR of 5.56 % during the forecast period to become USD 15.73 billion by the next five years.

• Cloud CRM is a CRM software in which the application and data are stored, or hosted, on the CRM provider company's own servers in a data center and accessed through an internet browser. This type of software is also called Software-as-a-Service (SaaS). It is different from on-premise or installed software, which has higher upfront costs and different skilled personnel requirements. Cloud CRM is also known as Software-as-a-Service (SaaS) CRM, cloud-based CRM, online CRM, and Web CRM.
• With a cloud-based CRM system, all the infrastructure to run the software is owned and maintained by the software provider. Organizations using CRM operate the software on their computers through their internet connection. CRM providers maintain and secure the organization's data at their own locations. This saves the organizations from having to pay loads of upfront costs for establishing the kind of infrastructure required to store and secure all that data.
• Because the hardware running the platform does not belong to the user organization, the organization does not have to arrange the updates and maintenance required to keep it running smoothly. Instead, it is the CRM cloud provider's job to handle data migrations, fix bugs as they appear, update the software, and ensure security for their clients and their businesses.
• The companies in the region are implementing CRM solutions into their business to improve overall customer experience and enhance business operations. For instance, in July 2023, Air France KLM Martinair Cargo announced a strategic partnership with Salesforce and Vonage to innovate its global customer service with a new Customer Relationship Management (CRM) solution. Through this solution, the company aims to provide faster and better service to customers by phone and digital channels and leverage the latest technology and data combined with employee expertise.
• The COVID-19 pandemic brought digitalization, which led to the growth of data generation and the need to analyze the data generated. It also led to an increase in digitalization to cope with the remote working environment. Europe is at an inflection point in the region's digital transformation with the cloud. The COVID-19 pandemic pushed European companies to embrace basic forms of cloud migration rapidly.

Europe Cloud CRM Industry Segmentation

Customer relationship management is a data-driven method to manage an enterprise's interaction with existing and potential customers. Europe Cloud CRM Market is Segmented by Deployment Type (Public Cloud, Private Cloud, and Hybrid Cloud), Enterprise Size (Small and Medium Enterprises and Large Enterprises), End-user Vertical (IT and Telecommunication, BFSI, Government, Retail, and Energy and Power), and Country. All above segment of this market is valued in USD.