The worldwide CRM application software market grew at a rate of nearly 90 per cent in 2000 then collapsed in 2001 bottoming out in late 2003. Since 2004, the market has grown steadily, at 11 per cent to 23 per cent per year. It is set for 10 per cent growth from 2007 to 2012, despite the recession in 2009 and knock-on in 2010. Gartner estimates that total revenue for CRM application software market in 2008 amounted to nearly $9 billion worldwide and will reach $10 billion in 2009, a 7 per cent per cent year-on-year increase. This includes licenses, maintenance and subscription revenues.
While the vendor landscape has changed dramatically, it is likely to change beyond recognition with the number of vendors leaving the market outpacing the number of new entrants. The five largest CRM application vendors are estimated to represent almost 60 per cent of the market in 2008. Gartner estimates that three or four large vendors will remain with an aggregate of more than 50 per cent market share in 2020.