Big Data and Analytics Services an Emerging Trend

Technavio’s latest market research report on the global CRM outsourcing market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

According to Technavio market research analysts, the global CRM outsourcing market will grow at a CAGR of close to 6 percent during the forecast period. The increasing need for large-scale client management is a major factor driving the market’s growth.

The demand for maintaining a proficient CRM process has proved to be a critical part of strategic decision-making for organizations worldwide. CRM aids in maintaining a complete database about the company’s customer base and brings in repeat business. As the volume of data increases, it is difficult to support a proficient CRM database. Hence, several large organizations are adopting automation for keeping records and cloud computing for location data availability.

Various client organizations around the world are unwilling to maintain in-house CRM solutions and are outsourcing it to professional organizations with a proven track record of managing complex CRM databases. Cost savings and database downtime reduction are other purposes of CRM outsourcing.