CRM Revenues to Top $27 Billion in 2005, Recovering From Near-term Contraction; Aberdeen Group Forecasts CRM Revenues to Increase at 19.9% Annually.Business/Technology Editors BOSTON--(BUSINESS WIRE)--Nov. 28, 2001 In its newly released report, "Worldwide CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. Spending Forecast and Analysis 2001-2005," Aberdeen Group Aberdeen Group is a provider of business-related research services. It has its headquarters in Boston, Massachusetts and belongs to the Harte-Hanks group. Founded in 1988, Aberdeen's research is used by over 2. has released the results of an in-depth study on CRM spending. The report chronicles the expected spending for critical CRM market segments, which include Sales Force Automation Automating the sales activities within an organization. A comprehensive SFA package provides such functions as contact management, note and information sharing, quick proposal and presentation generation, product configurators, calendars and to-do lists. , Marketing Automation, Customer Service Automation, Field Service Management, Help Desk, and Partner Relationship Management. Despite current economic conditions, Aberdeen research indicates that the worldwide market for CRM will resume growth by 2002. As a result, CRM revenues are forecasted to increase at a compound annual growth rate (CAGR CAGR See: Compound Annual Growth Rate ) of 19.9% over the next five years. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Aberdeen Group, total CRM market size is expected to increase from $13.5 billion in 2001 to roughly $27.8 billion in 2005. "At present, the CRM market is being negatively affected by economic conditions and worldwide events, resulting in an overall market contraction for the second half of this year," says Hugh Bishop, report co-author. "However, thanks to the clear return on investment (ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). ) and rapidly increasing adoption in overseas markets, the global CRM market will rebound strongly from the worldwide slowdown in IT spending." "Overseas markets will be a primary growth engine for CRM," states Christopher Fletcher, Managing Director of Aberdeen's CRM practice. "Non-North American markets will contribute more than 38% of total worldwide CRM expenditures in 2001." "Worldwide CRM Spending Forecast and Analysis 2001-2005" is a report offered through Aberdeen's newly launched Market Analysis Service (MAS). Aberdeen continually evaluates global technology markets on behalf of its clients in an effort to identify optimum market opportunities and conditions. More details of Aberdeen's research findings can be found at: http://www.aberdeen.com/ab_company/hottopics/crmspending/default.htm. About Aberdeen Group Since 1988, Aberdeen has been a leader in providing market analysis and positioning services that help business technology suppliers meet the challenge of establishing leadership in fast-changing markets. Aberdeen is headquartered in Boston, MA, and has research divisions in Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , CA; Fort Collins, CO; and Amsterdam, the Netherlands. Aberdeen is accessible via the Web at www.aberdeen.com. |
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