IDC Forecasts $148 Billion in CRM Service Revenues by 2005

Share this content:
Research firm IDC said yesterday that the customer relationship management services market is boasting solid growth.


According to Framingham, MA-based IDC, revenue from this industry will increase at a compound annual growth rate of 25 percent, from $61 billion in 2001 to $148 billion in 2005. This growth would far exceed that of the overall information technology services market, which shows a projected 12 percent growth rate from 2000 to 2005.


"CRM's solid performance despite a weakening economy can be attributed to the business benefits and cost savings it generates for customers," said Jocelyn Young, manager of IDC's CRM Services research program. "As companies need to justify their e-business investment, they will look to CRM solutions as a key means to increase e-business return on investment."


According to IDC, CRM outsourcing/operations management occupies the largest portion of the CRM services market, accounting for $32 billion in revenue in 2000. It is expected to surpass $82 billion by 2005. The market for CRM training performed solidly in 2000, exceeding $2.9 billion, and is expected to eclipse $11 billion by 2005.


Loading links....
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Since 1985, Melissa Data has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa Data offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here