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| Global Open Source CRM Software Market Size |
Open source customer relationship management (CRM) software refers to
commercially supported or community developed open source CRM applications and
platforms that provide customer acquisition, data management and customer
support capabilities. Open source CRM software offers advantages like low
upfront costs, vendor independence, flexibility and scalability. The growing
adoption of cloud-based business applications and need for low-cost
customer-centric solutions is driving the demand for open source CRM software
among small and medium enterprises globally.
The Global open source CRM software market is
estimated to be valued at US$ 2.99 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period
2024 to 2030.
Key Takeaways
Key players operating in the Global
Open Source CRM Software Market Size are Invibio, PEEK Implants by
Cendres+Métaux, SisoMM, MKPrecision, Evonik Industries AG. These players are
focusing on product innovation and partnerships to strengthen their market
position.
The growing demand for data-driven customer insights and need for 360 degree
customer view is presenting significant opportunities for open source CRM
software vendors. Furthermore, open source CRM capabilities like social CRM
integration and predictive analysis are gaining popularity.
North American and European companies are increasingly adopting cloud-based
open source CRM solutions to optimize customer support costs. Furthermore,
major open source CRM players are focusing on partnerships and expansion in the
Asia Pacific region to tap high growth opportunities.
Market Drivers
Growing popularity of cloud-based software solutions among SMEs: The
flexibility, scalability and low maintenance costs of cloud-based open source
CRM software is driving its adoption among cost-sensitive small and medium
enterprises globally. This is a major growth driver for the market.
Market Restrains
Limited customization options: Open source CRM software offers limited options
for customization as compared to proprietary/commercial solutions. This poses a
challenge for enterprises with complex and customized business processes and
requirements. Lack of dedicated support also restrains the growth of open
source CRM market to some extent.
Segment Analysis
The on-premise segment holds the largest share in the Open source CRM software
market due to large enterprises preferring on-premise deployment over the
cloud. On-premise CRM software provide customization and complete control over
licensing, updating, security and data storage which makes it a preferred
choice for most enterprises. The small & medium enterprises segment is
expected to be the fastest growing segment during the forecast period due to
increasing adoption of cloud-based Open source CRM software by SMBs due to
advantages like low installation & maintenance cost.
Global Analysis
The North America region dominates the global Open source CRM software market
currently due to heavy investments in technologies by established players in
countries like US and Canada. North America spends extensively on IT services
including CRM software and expected to continue its dominance during the
forecast period. The Asia Pacific region is anticipated to witness the highest
growth rate during the forecast period. Rapid digitalization and growing
internet penetration in developing countries of China and India are encouraging
SMBs to adopt cost-effective cloud-based Open source CRM software in this
region.
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Source CRM Software Market