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.