The Global Banking CRM Software Market is valued approximately at USD 12.71 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 15.66% over the forecast period 2024-2032. The concept of customer relationship management (CRM) in the banking sector is focused on establishing and maintaining long-term relationships with clients to benefit both consumers and banks. This approach enables banks to identify, categorize, and engage with each customer, fostering lasting connections. In today's business environment, banks need to recognize customer needs and tailor their offerings to enhance revenues. Increase in new CRM software and the adoption of advanced technologies are some of the trends driving the banking CRM software market growth. For instance, in April 2020, Temenos launched Software-as-a-Service (SaaS) propositions using innovative explainable artificial intelligence (XAI) and cloud technology to help the banking industry manage consumer relationships during the coronavirus pandemic. Moreover, the rise in digital banking activities is further fueling market growth.
Banking CRM software significantly improves data quality and helps businesses develop sustainable marketing models to meet increasing demands. This software is increasingly adopted to enhance business efficiency, driving the growth of the banking CRM software market. However, concerns regarding the potential loss of crucial customer data and high initial software costs are limiting market expansion. Conversely, opportunities to access unexplored markets and the availability of trained professionals are expected to create lucrative opportunities in the coming years. Additionally, developments and initiatives toward CRM for investment banking are anticipated to provide potential growth opportunities for the market.
The key region in the Global Banking CRM Software Market includes North America, Europe, Asia Pacific, Latin America, Middle East & Africa. In 2023, North America dominates the banking CRM software market in terms of revenue, due to its robust financial infrastructure, technological innovation, and large-scale adoption of digital banking solutions. Major financial institutions in the region prioritize customer relationship management (CRM) software to enhance customer engagement, streamline operations, and drive profitability. The presence of key players and a strong ecosystem of fintech startups continuously innovate CRM solutions tailored to banking needs. Regulatory compliance and data security measures further reinforce North America's dominance, shaping industry standards globally. This leadership underscores the region's pivotal role in shaping the future of CRM technologies within the banking sector. Furthermore, Asia-Pacific is anticipated to experience the fastest growth in the market during the forecast period 2024-2032.
Major market players included in this report are:
- Salesforce, Inc.
- SugarCRM Inc.
- Microsoft
- Oracle
- LeadSquared
- Pegasystems Inc.
- Claritysoft
- Zoho Corporation Pvt. Ltd.
- HubSpot, Inc.
- KAPTURE
- Freshworks Inc.
- SAP SE
- Creatio
- Nextiva
- Nimble
The detailed segments and sub-segment of the market are explained below:
By Offering:
By Deployment Mode:
By Application:
- Customer Service
- Customer Experience Management
- CRM Analytics
- Marketing Automation
- Salesforce Automation
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Banking CRM Software Market Executive Summary
- 1.1. Global Banking CRM Software Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Offering
- 1.3.2. By Deployment Mode
- 1.3.3. By Application
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Banking CRM Software Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Banking CRM Software Market Dynamics
- 3.1. Market Drivers
- 3.1.1. High Demand for Banking CRM to Enhance Customer Experience
- 3.1.2. High Bank Productivity and Profitability
- 3.1.3. Better Segmentation and Customer Retention
- 3.2. Market Challenges
- 3.2.1. Possibility of Losing Crucial Customer Data
- 3.2.2. Expensive Initial Cost of Software
- 3.3. Market Opportunities
- 3.3.1. Opportunity to Access Unexplored Markets
- 3.3.2. Availability of Trained Professionals
- 3.3.3. Developments & Initiatives Toward CRM for Investment Banking
Chapter 4. Global Banking CRM Software Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Banking CRM Software Market Size & Forecasts by Offering 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Banking CRM Software Market: Offering Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Solution
- 5.2.2. Service
Chapter 6. Global Banking CRM Software Market Size & Forecasts by Deployment Mode 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Banking CRM Software Market: Deployment Mode Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. On-Premises
- 6.2.2. Cloud
Chapter 7. Global Banking CRM Software Market Size & Forecasts by Application 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Banking CRM Software Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Customer Service
- 7.2.2. Customer Experience Management
- 7.2.3. CRM Analytics
- 7.2.4. Marketing Automation
- 7.2.5. Salesforce Automation
- 7.2.6. Others
Chapter 8. Global Banking CRM Software Market Size & Forecasts by Region 2022-2032
- 8.1. North America Banking CRM Software Market
- 8.1.1. U.S. Banking CRM Software Market
- 8.1.1.1. Offering breakdown size & forecasts, 2022-2032
- 8.1.1.2. Deployment Mode breakdown size & forecasts, 2022-2032
- 8.1.1.3. Application breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Banking CRM Software Market
- 8.2. Europe Banking CRM Software Market
- 8.2.1. U.K. Banking CRM Software Market
- 8.2.2. Germany Banking CRM Software Market
- 8.2.3. France Banking CRM Software Market
- 8.2.4. Spain Banking CRM Software Market
- 8.2.5. Italy Banking CRM Software Market
- 8.2.6. Rest of Europe Banking CRM Software Market
- 8.3. Asia-Pacific Banking CRM Software Market
- 8.3.1. China Banking CRM Software Market
- 8.3.2. India Banking CRM Software Market
- 8.3.3. Japan Banking CRM Software Market
- 8.3.4. Australia Banking CRM Software Market
- 8.3.5. South Korea Banking CRM Software Market
- 8.3.6. Rest of Asia Pacific Banking CRM Software Market
- 8.4. Latin America Banking CRM Software Market
- 8.4.1. Brazil Banking CRM Software Market
- 8.4.2. Mexico Banking CRM Software Market
- 8.4.3. Rest of Latin America Banking CRM Software Market
- 8.5. Middle East & Africa Banking CRM Software Market
- 8.5.1. Saudi Arabia Banking CRM Software Market
- 8.5.2. South Africa Banking CRM Software Market
- 8.5.3. Rest of Middle East & Africa Banking CRM Software Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Salesforce, Inc.
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Market Strategies
- 9.3.2. Microsoft
- 9.3.3. Oracle
- 9.3.4. SugarCRM Inc.
- 9.3.5. LeadSquared
- 9.3.6. Pegasystems Inc.
- 9.3.7. Claritysoft
- 9.3.8. Zoho Corporation Pvt. Ltd.
- 9.3.9. HubSpot, Inc.
- 9.3.10. KAPTURE
- 9.3.11. Freshworks Inc.
- 9.3.12. SAP SE
- 9.3.13. Creatio
- 9.3.14. Nextiva
- 9.3.15. Nimble
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes