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Social CRM Market Predicted to Grow to $9.08 Billion in 2018

Rising focus on customer engagement, emerging SMEs, social platforms and the recognition of sharing ideas on a real time basis are driving the global customer relationship management (CRM) market. Enterprises are coming up with solutions for social monitoring, social listening, social middleware, social management and social measurement for providing the best in class customer experience to the customers.
Today, CRM is not limited only for increasing sales and improving marketing activities, but to bring in more customer engagement with the enterprises. This research forecasts the Social CRM Market to grow from $1.91 billion in 2013 to $9.08 billion in 2018. This represents a compound annual growth rate (CAGR) of 36.5% from 2013 to 2018. In terms of regions, North America is expected to be the biggest market in 2013, while Asia-Pacific (APAC) is expected to experience increased market traction in the coming years.
The report "Customer Relationship Management (CRM) Market & Social CRM (Social Monitoring; Social Listening; Social Mapping; Social Measurements; Social Engagement; Social Middleware) – Global Advancements, Forecasts & Analysis (2013 – 2018)" covers major vendors like SAP, Oracle,, Amdocs and IBM. Companies such as Lithium and Jive Inc. are moving towards Social CRM market and many others have ventured into it as well. Other companies profiled in this report include Acquia, Microsoft, Netsuite, Nimble, Pegasystems, Ramco systems, SAGE, SugarCRM, Allegiance, Contactually, ITC Infotech, Nearstream, Nextprinciples and Tracx.
Providing 142 Data Tables and 64 Figures on CRM and Social CRM market, this report says advancements in Social CRM have made it faster, reachable and have also brought in vital information on business analytics. Enterprises are adopting social CRM as an additional channel in the overall CRM software solutions.

Social CRM refers to a social layer on top of tradition CRM software solutions; these solutions provide enterprises with several advantages including increased transparency, better communication of business ideas and information, flexibility and performance. Social CRM helps companies to establish customer engagements and increase their brand presence among customers. Social CRM focuses on capturing the customers need and creating value for them in a transparent business environment.
The research report, available for purchase here.  
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