While the customer relationship management (CRM) systems market is feeling the effects of the worldwide economic slowdown, Aberdeen Group reports some surprising facts, and a possible path to recovery and growth for vendors to follow.
The first of two reports, Worldwide CRM Spending: Forecast and Analysis 2001-2005, provides information and estimates on worldwide spending on CRM-related services and technology over the next four years. It also breaks down the overall growth to examine what is expected to happen in horizontal and vertical markets, and the factors driving those growth patterns.
The second report, CRM: Mid-Market Holds Surprises, by the same authors (Hugh Bishop and Denis Pombriant of Aberdeen Group), details the results of the firm's recent survey of end users at midsize companies, gauging the adoption and purchasing intention with regard to CRM solutions. A major finding is that many IT decision makers do not fully recognise the value proposition of CRM applications.
Conclusions
Along with other findings of the survey, this suggests that the mid-size enterprise CRM market is still in the early stages of development, presenting a good opportunity for suppliers that understand the market dynamics and the demands of users.
The survey also carries data concerning the leasing of CRM via an application service provider (ASP), and the potential impact of Microsoft's recent entry into the CRM market (see July 18, 2002).
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