MEA to witness 3.9% CRM market growth between 2014-2019

A Report by MicroMarketMonitor indicates that the Middle East and Africa CRM and social CRM market is estimated to grow at a CAGR of 3.9% between 2014 and 2019.MicroMarket_logoThe report that is to official be published on 17th January 2015, observes that in Middle East and Africa, SMEs are emerging at a rapid pace. There is a global trend of larger companies downsizing and outsourcing functions to SMEs for providing cost effective and efficient solutions.

MicroMarketMonitor identifies and attends to various unmet needs of different industrial verticals, which include value chain impact analysis. The company publishes about 12000 Market Research Reports on various Micro Markets across the world. It boasts of providing a deep dive insight into 5000 granular markets along with the updates.

This particular report released on the MicroMarketMonitor website also indicates that as of 2014, Middle East and Africa accounts for a share of 3.4% in the global CRM and social CRM market.

An announcement on release of the report says that at the same time, there has been an increase in marketing, sales, and support applications across SMEs. SMEs are handling these functions through CRM and social CRM tools.

Due to CRM adoption across SMEs in the mentioned region, the industry is projected to witness a healthy growth rate. This report analyzes the adoption trends, growth potential, and key drivers and restraints of this regional market.

It also studies the various market segments based on industries, which are academia and government, automotive, transportation and logistics; banking, financial services and insurance (BFSI); consumer goods and retail, energy, power and utilities, healthcare, oil and gas, and telecom and IT.

The market segmentation is on the basis of organization size, which includes small and medium business (SMB) and enterprises. Microsoft, Oracle, Jive Software, and SugarCRM are some of the leading players in the Middle East and Africa CRM and Social CRM market.

Lack of availability of proper infrastructure facilities and knowledge to support this industry are some of the restraints in the Middle East and Africa CRM and social CRM market. However, this trend will transform soon, as enterprises are realizing the importance of CRM software across functions in any industry.