Market Size of South East Asia CRM Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.24 Billion |
| Market Size (2029) | USD 2.43 Billion |
| CAGR (2024 - 2029) | 1.56 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South East Asia CRM Market Analysis
The South East Asia CRM Market size is estimated at USD 2.24 billion in 2024, and is expected to reach USD 2.43 billion by 2029, growing at a CAGR of 1.56% during the forecast period (2024-2029).
Mature customer service, automated engagement, improved customer experience, and increasing scope of digital operations are a few factors fueling the demand for CRM solutions across various industry verticals in the region.
- Moreover, the development of cloud computing technology and the availability of various service models, such as SaaS, Platform as a Service (PaaS), and Infrastructure as a Service (IaaS), are also expected to drive market growth during the forecast period in the region.
- Southeast Asia has witnessed an uptake in midmarket and enterprise companies moving to more modern business software applications to enhance their business processes and enrich the customer experience. E-commerce, ERP, and Customer Relationship Management (CRM) applications have all been at the forefront of this software technology adoption.
- Furthermore, the increasing emphasis on customer engagement among enterprises and growing adoption from SMEs aided by flexible pricing strategies provided by the vendors are driving market growth in the region.
- According to the CRM Cloud Survey Report by SoftClouds (a vendor in technology solutions and digital transformation), 82% of companies use CRM solutions for sales process automation and sales reporting. According to Salesforce, CRM software helps to increase employee productivity, enhance customer engagement and retention, and reap other business benefits. According to Cloudswave, using CRM in sales can increase the number of purchases customers make with the company. These facts are likely to boost the market growth in the region.
- The recent outbreak of COVID-19 pushed organizations to undertake all necessary steps to ensure the safety of their employees and the community. Despite the crisis, the companies strived to pursue opportunities, close sales, and resolve the issues of the customers. Following the mandate of work-from-home (WFH), companies increasingly needed to collaborate with clients in remote working environments. This subsequently to drove the demand for customer service CRM solutions.
