The North American market for customer relationship management software will grow from $3.9 billon in 2000 to $11.9 billion by 2005, says Datamonitor. In addition, revenues accrued through application service providers, currently the least significant channel for vendors, will grow 128 percent in the next five years to a projected $431 million in 2005. According to Datamonitor, the CRM market will grow most rapidly in the government, entertainment and Internet retailing industries. This growth reflects the increasing significance of CRM applications and e-business strategy among companies not traditionally associated with CRM, Datamonitor says.
The rapidly growing small-to-mid sized enterprise sector will also play a part in driving the operational CRM market as small and medium-sized companies adopt channel-based solutions.
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