Published: 23 April 2024
GenAI-capable CRM revenue will reach $597 billion by 2034 and surpass non-AI CRM revenue in 2025. Content creation and the progress of megavendors are key challenges for this market. Product leaders should build content creation into workflows and innovate beyond what megavendors are delivering.
The best-case scenario arising from our market risk projection (MRP) highlights that the revenue contribution of generative AI (GenAI) capabilities to customer experience and relationship management (CRM) application software markets will reach $597billion in 2034, up from $3.7 billion in 2024, with a compound annual growth rate (CAGR) of 43% from 2024 through 2034. The contribution of GenAI-enabled revenue will surpass non-AI revenue by 2025.
GenAI is poised to impact all CRM-oriented functions, including sales, customer service, marketing, digital commerce and cross-CRM. Marketing content creation has been identified as one of the key adoption priorities, while case summarization and
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