Southeast Asia CRM Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Southeast Asia CRM Analytics Market Analysis & Growth. The market growth is segmented by Type (Sales and Marketing Analytics, Contact Center Analytics, Customer Analytics, and Other Types), Deployment (On-premises, Cloud), End-User (BFSI, Health Care, Retail, Telecom, and IT, Transportation and Logistics, Media, and Entertainment, and Other End-Users), and Country (Malaysia, Singapore, Thailand, Indonesia, Vietnam and Rest of Southeast Asia). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

Southeast Asia CRM Analytics Market Size

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Southeast Asia CRM Analytics Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 1.30 Billion
Market Size (2029) USD 2.40 Billion
CAGR (2024 - 2029) 12.98 %

Major Players

Southeast Asia CRM Analytics Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Southeast Asia CRM Analytics Market Analysis

The Southeast Asia CRM Analytics Market size is estimated at USD 1.30 billion in 2024, and is expected to reach USD 2.40 billion by 2029, growing at a CAGR of 12.98% during the forecast period (2024-2029).

In the Southeast Asian region, there has been an increase in the adoption of modern business software applications by midmarket and enterprise companies. This shift aims to improve business processes and enhance the customer experience. E-commerce, ERP, and Customer Relationship Management (CRM) applications have been particularly prominent in this technology adoption trend.

  • The growing availability of data has led to an increase in analytics adoption in Southeast Asia, driving the development of the digital economy. This trend has resulted in a significant rise in marketing expenditure in countries such as Singapore, Indonesia, Thailand, Malaysia, and Vietnam, fueled by increased mobile and internet penetration. The percentage of active social media users in Southeast Asia has also seen substantial growth of 47%, further contributing to the marketing expansion.
  • Marketers in Southeast Asian countries are emphasizing real-time marketing, omnichannel delivery and engagement, customer journey mapping, and AI. CRM analytics solutions play a crucial role in helping marketing teams plan, execute, and measure campaigns across various channels. By leveraging customer behavior and choice data, these solutions provide valuable insights that enable strategic decision-making. Additionally, they offer organizations a comprehensive, real-time view of customer insights for informed actions.
  • Given the ongoing trend of omnichannel presence, particularly in retail and the BFSI sector, marketers employ multi-channel strategies to achieve diverse objectives such as brand awareness, brand building, lead/sales generation, and customer retention.
  • The e-commerce sector is expected to be a significant driver in Southeast Asian countries in the coming years, with global organizations investing in and transforming the region's e-commerce market. The number of online shoppers is steadily increasing each month.
  • However, the outbreak of COVID-19 harmed the growth of various industries in the region. Extended lockdowns, export bans, and heightened trade barriers imposed by several countries disrupted economic activities. Malaysia, in particular, was expected to experience a slowdown in economic growth to 3.7% in recent years due to COVID-19. The effects of the outbreak on China's economy may continue to affect Malaysia during the post-pandemic. Additionally, in the post-pandemic, online shopping apps in the region witnessed a gradual decline in conversion rates, coinciding with the rise in COVID-19 cases in Malaysia, Singapore, and Thailand.

Southeast Asia CRM Analytics Market Trends

Retail Industry is Expected to Drive the Market's Growth

  • SaaS-powered CRM analytics is an affordable solution that helps organizations maintain customer relationships and stay informed about important dates and events. It serves as the initial step toward establishing a robust digital infrastructure.
  • The digitization trend in Southeast Asia is positively impacting market growth. The region's developing economies are expected to emerge as leading digital marketing markets in Asia. This growth can be attributed to the increasing number of mobile users, rising demand for internet access, and declining internet connectivity and data prices.
  • According to a recent report by 'We Are Social and Hootsuite,' Indonesia had 150.0 million internet users, Malaysia had 25.28 million, and Thailand had 57.0 million. Social media users in Indonesia and Thailand reached 150.0 million and 51.0 million, respectively.
  • Companies for sales process automation and reporting widely adopt CRM solutions. SoftClouds' CRM Cloud Survey Report states that 82% of companies use CRM solutions for these purposes. According to Salesforce, CRM software enhances employee productivity, customer engagement, retention, and other benefits. Cloudswave highlights that utilizing CRM in sales can increase customer purchases with the company.
  • To overcome the high costs associated with proprietary technology development, SMEs and startups in the region are increasingly turning to cloud software, infrastructure, and platforms as services. SaaS-based CRM analytics offers numerous advantages for SMEs.
  • The digital transformation of SMEs involves improving their access to information and communication technologies and increasing the adoption and utilization of digital applications and services. These advancements foster the necessary digital transformation within the Southeast Asian economies, creating opportunities to utilize digital services and applications effectively.
Southeast Asia CRM Analytics Market: Customer Relationship Management Software, Average Spend per Employee, in Indonesia, (in Percentage)

Growing Adoption of Analytics in Singapore is Expected to Create Growth Opportunities

  • Singapore stands out as a prominent market in the Southeast Asian region due to the increasing adoption of analytics solutions, a growing digital population, and strong government support. According to We Are Social and Hootsuite's recent report, Singapore had 4.92 million internet users and 4.60 million social media users.
  • The rise in mobile and internet penetration in Singapore and other countries, such as Indonesia, Thailand, Malaysia, and Vietnam, has led to a significant increase in marketing expenditure.
  • Singapore has made significant advancements in analytics and AI, supported by government initiatives like e-Singapore. The city-state is a global hub for innovation and has made notable contributions to the fintech ecosystem through its robust data and analytics practices.
  • The adoption of mobile payments in Singapore has also seen positive results; for instance, according to Visa, in the previous year, mobile contactless payments of 52% and QR code payments of 48% continue to increase among Singapore consumers. The retail sector is an integral part of the Singaporean economy, employing approximately 3% of the workforce and contributing significantly to the country's GDP. The government has introduced the Retail Industry Transformation Map (ITM) to support retailers in embracing digital technologies and improving productivity.
  • Retailers leverage CRM data to track customer purchase behavior, offer upselling opportunities, and provide personalized discounts and offers through loyalty programs. Tableau, a data analysis tool, is used by companies like Metro, a Singaporean retail chain, to break the limitations of brick-and-mortar operations and develop effective marketing campaigns based on customer preferences.
  • Moreover, Pan Pacific Hotels Group in Singapore uses analytics to identify trends and anticipate booking behavior across customer segments and regions. This enables them to provide more personalized and attentive service, handle feedback promptly, and enhance the overall customer experience.
  • Spiro, a proactive relationship management platform, has expanded its presence in Singapore, driven by the country's technology-forward mindset and initiatives embracing AI. The company has secured funding to invest in its AI and natural language processing (NLP) technology, combining CRM, telephony, and sales enablement into a single platform.
Southeast Asia CRM Analytics Market: Gross domestic product (GDP) growth in Singapore in 2022, by industry

Southeast Asia CRM Analytics Industry Overview

The Southeast Asian CRM Analytics market is competitive and consists of regional and global players. These companies leverage partnership and product enhancement initiatives to strengthen their market shares and increase profitability.

In July 2022, Oracle Fusion Sales, a next-generation sales automation program developed by Oracle, identified high-quality sales prospects and drove dealers to execute transactions more rapidly. Fusion Sales, an Oracle Fusion Cloud Customer Experience (CX) component powered by artificial intelligence (AI), automatically provided sellers with proposals, quotations, and recommended tasks to increase productivity, complete more deals, and develop customer confidence.

In July 2022, Kapture CRM, a SaaS company, was set to extend its presence in Indonesia. The enterprise-grade, SaaS-based service automation technological advances generated much interest in the region, so it opened an office in Jakarta to meet the demand.

Southeast Asia CRM Analytics Market Leaders

  1. Salesforce.com Inc.

  2. Oracle Corporation Malaysia Sdn Bhd

  3. Microsoft Services Asia

  4. AquaCRM (Thailand) Co. Ltd

  5. Peppercan (Safecoms.com)

*Disclaimer: Major Players sorted in no particular order

Southeast Asia CRM Analytics Market Concentration
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Southeast Asia CRM Analytics Market News

  • August 2022: Monday.com, a cloud-based job management platform, expanded into customer relationship management (CRM) software by introducing a fully configurable Monday Sales CRM. The new CRM platform was based on Monday's customized no-code framework, Work OS. It allowed customers to manage their sales cycle and consolidate all customer operations on a single platform.
  • April 2022: Salesforce introduced CRM Analytics, which provides artificial intelligence (AI)-powered, actionable insights immediately in the flow of work. These technologies assisted sales leaders, service leaders, and employees in any business, including financial services, manufacturing, consumer products, and communications, inputting data at the core of each customer interaction and, as a result, provided more personalized experiences.

Southeast Asia CRM Analytics Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Impact of COVID-19 on the Market

    5. 4.5 Market Drivers

      1. 4.5.1 Rising use of CRM analytics in Retail industry

      2. 4.5.2 Rise in Demand for Global Consumer Goods

      3. 4.5.3 Need for Comprehensive Understanding of Consumer Behavior

    6. 4.6 Market Restraint

      1. 4.6.1 Data Management and Integration

      2. 4.6.2 Lack of Awareness on CRM Analytics Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Sales and Marketing Analytics

      2. 5.1.2 Contact Center Analytics

      3. 5.1.3 Customer Analytics

      4. 5.1.4 Other Types

    2. 5.2 By Deployment

      1. 5.2.1 On-premise

      2. 5.2.2 Cloud

    3. 5.3 By End-User

      1. 5.3.1 BFSI

      2. 5.3.2 Health Care

      3. 5.3.3 Retail

      4. 5.3.4 Telecom and IT

      5. 5.3.5 Transportation and Logistics

      6. 5.3.6 Media and Entertainment

      7. 5.3.7 Other End-Users

    4. 5.4 By Country

      1. 5.4.1 Malaysia

      2. 5.4.2 Singapore

      3. 5.4.3 Thailand

      4. 5.4.4 Indonesia

      5. 5.4.5 Vietnam

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 AquaCRM (Thailand) Co. Ltd

      2. 6.1.2 AsiaBiz Networks Company

      3. 6.1.3 Microsoft Services Asia

      4. 6.1.4 Oracle Corporation Malaysia Sdn Bhd

      5. 6.1.5 Peppercan (Safecoms.com)

      6. 6.1.6 Sage Software Solutions Pvt. Ltd

      7. 6.1.7 Salesforce.com Inc.

      8. 6.1.8 SugarCRM Inc.

      9. 6.1.9 Zoho Corporation

      10. 6.1.10 Plexure Sdn Bhd

      11. 6.1.11 Star CRM Sdn Bhd

      12. 6.1.12 iZeno Pte Ltd

      13. 6.1.13 Hubspot Asia Pte Ltd

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. FUTURE OF THE MARKET

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Southeast Asia CRM Analytics Industry Segmentation

CRM analytics is an application assessing an organization's customer data to facilitate and streamline business choices. CRM analytical solutions use various applications that help measure the usefulness of customer-related processes and eventually provide customer categorization, such as profitability analysis, event monitoring, what-if scenarios, and predictive modeling. The countries considered under the scope of the Southeast Asian region include Malaysia, Thailand, Indonesia, Singapore, and Vietnam.

The Southeast Asian CRM analytics market is segmented by Type (Sales and Marketing Analytics, Contact Center Analytics, Customer Analytics, and Other Types), Deployment (On-premises, Cloud), End-User (BFSI, Health Care, Retail, Telecom, and IT, Transportation and Logistics, Media, and Entertainment, and Other End-Users), and Country (Malaysia, Singapore, Thailand, Indonesia, Vietnam and Rest of Southeast Asia.

The market sizes and forecasts are provided in terms of value in USD for all the above segments.

By Type
Sales and Marketing Analytics
Contact Center Analytics
Customer Analytics
Other Types
By Deployment
On-premise
Cloud
By End-User
BFSI
Health Care
Retail
Telecom and IT
Transportation and Logistics
Media and Entertainment
Other End-Users
By Country
Malaysia
Singapore
Thailand
Indonesia
Vietnam
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Southeast Asia CRM Analytics Market Research FAQs

The South East Asia CRM Analytics Market size is expected to reach USD 1.30 billion in 2024 and grow at a CAGR of 12.98% to reach USD 2.40 billion by 2029.

In 2024, the South East Asia CRM Analytics Market size is expected to reach USD 1.30 billion.

Salesforce.com Inc., Oracle Corporation Malaysia Sdn Bhd, Microsoft Services Asia, AquaCRM (Thailand) Co. Ltd and Peppercan (Safecoms.com) are the major companies operating in the South East Asia CRM Analytics Market.

In 2023, the South East Asia CRM Analytics Market size was estimated at USD 1.15 billion. The report covers the South East Asia CRM Analytics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South East Asia CRM Analytics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Southeast Asia CRM Analytics Software Industry Report

Statistics for the 2024 Southeast Asia CRM Analytics Software market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Southeast Asia CRM Analytics Software analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Southeast Asia CRM Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)