Worldwide customer relationship software revenue should exceed $7.4 billion in 2007, up from $6.5 billion in 2006, according to Gartner, Inc.
Some of the growth comes from increases in the “software as a service” sector, which represented 12% of CRM software revenue in 2006, and which should reach 14%, or more than $1 billion, in 2007, according to Gartner.
For the 12 to 18 months following 2007, Gartner anticipates a slowdown in sales growth due to economic conditions. But the market should regain momentum in late 2008 and 2009 as buyers increase their demand in analytics, marketing automation and a renewed focus on the software as a service segment. By 2011, the market’s value should reach $11.4 billion.
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