The global CRM applications market performed robustly in the first half of this year. According to research firm IDC (News - Alert), CRM applications market netted $9.2 billion, registering more than13 percent growth compared to the same period last year.
IDC expects this market to reach $18.2 billion in 2011, up 11 percent from 2010. Out of the four functional markets, sales, marketing, and customer service are each expected to achieve double-digit growth in 2011.
So far, Oracle remained the number one CRM vendor worldwide, growing above the market average and the only vendor that earned double-digit market share (13.2 percent) during the first half of 2011.
“The CRM applications market experiences growth in an organic relationship with broader market conditions and organizational performance. Movements such as social and mobile are bringing consumer-like experience requirements to all aspects of end customer engagement with the companies with whom they conduct business,” said Mary Wardley, program vice president, CRM Applications.
The research firm found out that a total of 18 vendors (two more than during the first half of 2010) achieved revenues of more than $100 million revenue during the first half of 2011 (1H11). Combined, these vendors captured a total market share of 63 percent with the remainder shared among 170 vendors and others. The two new vendors that surpassed the $100 million revenue mark in 1H11 were Nuance Communications and Reynolds & Reynolds.
Among other vendors, Salesforce.com continued to impress with the best year-over-year growth (22.6 percent) among the top 10 vendors during the same period and moving into the number 2 position worldwide for the first time since IDC started tracking the market semiannually in 2008. Within the top 10, SAP (News - Alert) and NICE Systems were the other vendors that had stronger than overall market growth.
The IDC reports claims to have monitored nearly 190 CRM vendors (global and local) across a total of 49 countries globally.