Social Customer Relationship Management Global Market Report 2024

Description

Social customer relationship management (CRM) refers to the strategies and processes employed by businesses to efficiently engage with and manage relationships with customers through social media platforms. This approach involves integrating social media data with traditional CRM systems to gather insights into customer interactions, improve the quality of engagement, and enable communication with customers across various social networking sites.

The main types of deployment models in social customer relationship management (CRM) are cloud-based and on-premises solutions. In a cloud-based deployment model, computing resources such as computing power, storage, and applications are provided to users over the internet as a service. This approach supports various functions, including built-in social CRM and standalone social CRM, and caters to organizations of various sizes, including small and medium-sized businesses (SMBs) and large enterprises. Cloud-based social CRM is utilized across multiple applications, including sales automation, marketing, customer service and support, among others, and serves diverse end users such as information technology and telecom, healthcare, banking, financial services and insurance (BFSI), retail and e-commerce, education, government, hospitality, transportation and logistics, manufacturing, and others.

The social customer relationship management market research report is one of a series of new reports from The Business Research Company that provides social customer relationship management market statistics, including social customer relationship management industry global market size, regional shares, competitors with a social customer relationship management market share, detailed social customer relationship management market segments, market trends and opportunities, and any further data you may need to thrive in the social customer relationship management industry. This social customer relationship management market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The social customer relationship management market size has grown exponentially in recent years. It will grow from $98.04 billion in 2023 to $150.17 billion in 2024 at a compound annual growth rate (CAGR) of 53.2%. The growth observed during the historic period can be attributed to several factors, including the emergence of social media platforms as key communication channels, the escalating expectations of customers for personalized and engaging interactions, and the rise of influencer marketing as a powerful tool for reaching and influencing target audiences.

The social customer relationship management market size is expected to see exponential growth in the next few years. It will grow to $836.40 billion in 2028 at a compound annual growth rate (CAGR) of 53.6%. The anticipated growth in the forecast period can be attributed to several factors, including the rise of conversational marketing strategies, the integration of omnichannel approaches to enhance customer experiences, and the prioritization of privacy and data security measures to safeguard customer information. Key trends expected during this period include the implementation of hyper-personalization techniques to tailor interactions to individual preferences, leveraging AI-driven social insights for more effective targeting and engagement, the adoption of mobile-centric solutions to cater to the increasing mobile usage, integration with augmented reality (AR) and virtual reality (VR) technologies to create immersive experiences, and the integration of social commerce functionalities to enable direct sales through social media platforms.

The social customer relationship management market is poised for growth driven by the increasing adoption of social media platforms. Social media enables users to connect, share content, and engage in networking, fostering connectivity, communication, self-expression, and entertainment. Businesses leverage social media to enhance customer relationships, improve brand perception, and foster customer loyalty. According to Avacado Social reports, the total number of social media users in the UK increased by 424 million in 2021, indicating a significant uptick in social media adoption and its impact on the social CRM market.

Key players in the social customer relationship management market are focusing on innovation to provide comprehensive CRM solutions tailored to growing businesses. For example, in March 2024, Salesforce Inc. introduced the Pro Suite CRM solution integrating CRM, AI, data, and trust to empower businesses in transforming their operations. This solution addresses the challenges faced by small businesses in implementing and utilizing CRM systems, offering features such as marketing campaign templates, lead and deal management, faster case resolution, and personalized customer experiences across marketing, sales, and service.

In February 2024, Volaris Group expanded its marketing management portfolio by acquiring Gold-Vision CRM. This acquisition enhances Volaris' offerings with Gold-Vision's complete CRM solutions, catering to mid-market businesses seeking to improve sales and marketing performance. Gold-Vision CRM, a UK-based software developer, aligns with Volaris Group's strategy of providing diverse and versatile CRM solutions to its customer base, further solidifying its position in the social CRM market.

Major companies operating in the social customer relationship management market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce Inc, Adobe Inc, SAS Institute, ReplyApp Inc., HubSpot Inc, Pegasystems Inc, Zendesk, Zoho Corporation, Verint Systems, RWS Holdings, monday.com, Freshworks Inc, Sprout Social Inc, Brandwatch, Jive Software Inc, Agora Media SAS, Bitrix Inc., Act-On Software Inc., VanillaSoft Inc., Insightly Inc., Clarabridge

North America was the largest region in the social customer relationship management market in 2023. The regions covered in the social customer relationship management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the social customer relationship management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The social customer relationship management market includes revenues earned by entities by providing services such as social listening and monitoring, social engagement, content creation and management, customer data integration, and social customer relationship management strategy and consultation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Including: 1) By Deployment Model: Cloud; On-Premises
2) By Functionality: Built-In Social CRM; Standalone Social CRM
3) By Organization Size: Small And Medium Sized Businesses (SMBs); Large Enterprises
4) By Application: Sales Automation; Marketing; Customer Service And Support
5) By End Users: Information Technology And Telecom; Healthcare; Banking, Financial Services And Insurance (BFSI); Retail And E-Commerce; Education; Government; Hospitality; Transportation And Logistics; Manufacturing
Covering: Microsoft Corporation; International Business Machines Corporation; Oracle Corporation; SAP SE; Salesforce Inc.

Product Code: r17443

1. Executive Summary

2. Social Customer Relationship Management Market Characteristics

3. Social Customer Relationship Management Market Trends And Strategies

4. Social Customer Relationship Management Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Social Customer Relationship Management Market Size and Growth

5.1. Global Social Customer Relationship Management Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Social Customer Relationship Management Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Social Customer Relationship Management Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Social Customer Relationship Management Market Segmentation

6.1. Global Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Cloud
On-Premises
6.2. Global Social Customer Relationship Management Market, Segmentation By Functionality, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Built-In Social CRM
Standalone Social CRM
6.3. Global Social Customer Relationship Management Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Small And Medium Sized Businesses (SMBs)
Large Enterprises
6.4. Global Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Sales Automation
Marketing
Customer Service And Support
Other Applications
6.5. Global Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Information Technology And Telecom
Healthcare
Banking, Financial Services And Insurance (BFSI)
Retail And E-Commerce
Education
Government
Hospitality
Transportation And Logistics
Manufacturing
Other End Users

7. Social Customer Relationship Management Market Regional And Country Analysis

7.1. Global Social Customer Relationship Management Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Social Customer Relationship Management Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Social Customer Relationship Management Market

8.1. Asia-Pacific Social Customer Relationship Management Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Social Customer Relationship Management Market

9.1. China Social Customer Relationship Management Market Overview
9.2. China Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Social Customer Relationship Management Market

10.1. India Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Social Customer Relationship Management Market

11.1. Japan Social Customer Relationship Management Market Overview
11.2. Japan Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Social Customer Relationship Management Market

12.1. Australia Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Social Customer Relationship Management Market

13.1. Indonesia Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Social Customer Relationship Management Market

14.1. South Korea Social Customer Relationship Management Market Overview
14.2. South Korea Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Social Customer Relationship Management Market

15.1. Western Europe Social Customer Relationship Management Market Overview
15.2. Western Europe Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Social Customer Relationship Management Market

16.1. UK Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Social Customer Relationship Management Market

17.1. Germany Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Social Customer Relationship Management Market

18.1. France Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Social Customer Relationship Management Market

19.1. Italy Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Social Customer Relationship Management Market

20.1. Spain Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Social Customer Relationship Management Market

21.1. Eastern Europe Social Customer Relationship Management Market Overview
21.2. Eastern Europe Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Social Customer Relationship Management Market

22.1. Russia Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Social Customer Relationship Management Market

23.1. North America Social Customer Relationship Management Market Overview
23.2. North America Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Social Customer Relationship Management Market

24.1. USA Social Customer Relationship Management Market Overview
24.2. USA Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Social Customer Relationship Management Market

25.1. Canada Social Customer Relationship Management Market Overview
25.2. Canada Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Social Customer Relationship Management Market

26.1. South America Social Customer Relationship Management Market Overview
26.2. South America Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Social Customer Relationship Management Market

27.1. Brazil Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Social Customer Relationship Management Market

28.1. Middle East Social Customer Relationship Management Market Overview
28.2. Middle East Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Social Customer Relationship Management Market

29.1. Africa Social Customer Relationship Management Market Overview
29.2. Africa Social Customer Relationship Management Market, Segmentation By Deployment Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Social Customer Relationship Management Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Social Customer Relationship Management Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Social Customer Relationship Management Market Competitive Landscape And Company Profiles

30.1. Social Customer Relationship Management Market Competitive Landscape
30.2. Social Customer Relationship Management Market Company Profiles
- 30.2.1. Microsoft Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. International Business Machines Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Oracle Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. SAP SE
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Salesforce Inc
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Social Customer Relationship Management Market Other Major And Innovative Companies

31.1. Adobe Inc
31.2. SAS Institute
31.3. ReplyApp Inc.
31.4. HubSpot Inc
31.5. Pegasystems Inc
31.6. Zendesk
31.7. Zoho Corporation
31.8. Verint Systems
31.9. RWS Holdings
31.10. monday.com
31.11. Freshworks Inc
31.12. Sprout Social Inc
31.13. Brandwatch
31.14. Jive Software Inc
31.15. Agora Media SAS

32. Global Social Customer Relationship Management Market Competitive Benchmarking

33. Global Social Customer Relationship Management Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Social Customer Relationship Management Market

35. Social Customer Relationship Management Market Future Outlook and Potential Analysis

35.1 Social Customer Relationship Management Market In 2028 - Countries Offering Most New Opportunities
35.2 Social Customer Relationship Management Market In 2028 - Segments Offering Most New Opportunities
35.3 Social Customer Relationship Management Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer