The global CRM applications market has registered a year-over-year growth of 6.2% and posted revenues of $16.5bn, according to the IDC Worldwide Semiannual Customer Relationship Management Applications Tracker.
Despite consisting of just four functional markets, the overall CRM applications market remains fragmented with many vendors vying to gain share, said the report.
Outside the top three vendors, a total of 19 vendors achieved more than $100m in CRM software revenue during 2010, representing more than 35% of total market share.
Oracle, SAP, and Salesforce.com were the only vendors to amass more than $1bn in CRM software revenue worldwide in 2010.
Oracle held the top spot with 11.8% global market share in 2010, while Salesforce.com had the strongest year-over-year growth (27.4%) among the top 3.
IDC program vice president for CRM Applications Mary Wardley said despite its relative market maturity, CRM applications represent a vibrant market opportunity. In an interconnected world of global commerce the customer experience and relationship will be the key differentiator.
Within the customer service market, three of the top 5 large countries (UK, Germany and France) are forecast to grow at an 8.2% annual rate in 2011, while Australia, Brazil, Canada, China, India, and Russia are expected to drive strong growth in the marketing applications market.
With the exception of Brazil, these same countries are forecast to experience even stronger growth in the sales applications market.
IDC expects the CRM applications market to continue on this trajectory in 2011 with revenues approaching $18bn on 7.6% year-over-year growth.
