Salesforce CRM Document Generation Software Market size was over USD 973.6 million in 2023 and is set to cross USD 3.52 billion by 2036, witnessing more than 10.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of salesforce CRM document generation software is estimated at USD 1.05 billion. The market is estimated to grow on the back of increasing shift from Excel to CRM software by companies to improve customer experience and enhance productivity. According to estimates, about 60% of organizations adopted CRM technology within five years of its launch. The utilization rate of CRM in the organization is estimated to be around 75% by the sales team, 40% by the marketing team, and around 42% by the customer services.
The global salesforce CRM document generation software market is also estimated to grow on account of rising digitalization and increasing penetration of internet with high frequency bandwidths in large and small enterprises. For instance, in 2022, global spending on digital transition was around ~USD 1.7 trillion and by the end of 2025, it is expected to reach ~USD 2.7 trillion. Organizations are focusing on adoption of new technologies and planning experiments with each domain of their business which includes sales, human resources and other business operations. Since these operations are sometimes too complex to handle manually, so organizations tend to look for simpler ways to function within limited workforce and company budget. Hence, the demand for salesforce CRM document generation software market is anticipated to grow to provide large amount of data in an efficient, reliable and secure manner.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
10.4% |
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Base Year Market Size (2023) |
USD 973.6 million |
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Forecast Year Market Size (2036) |
USD 3.52 billion |
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Regional Scope |
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The salesforce CRM document generation software market is segmented and analyzed for demand and supply by type into cloud based and on-premise. Out of these segments, cloud based segment is estimated to garner a largest market share over the forecast period, owing to the rising adoption of cloud based services amongst companies. As per estimates, in 2022, around 65% enterprise is using cloud-based infrastructure and around 40 zettabytes of data are estimated to be stored in cloud servers. In addition, secondary factors supporting the growth of the cloud based segment are increasing integration of management tools for handling customer data and also presence of large storage spaces that are secure and reliable.
Our in-depth analysis of the salesforce CRM document generation software market includes the following segments:
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Regionally, the global salesforce CRM document generation software market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America industry is set to account for largest revenue share by 2036, accredited to presence of strong IT infrastructure and growing demand for automated document generation software by business organizations to increase their productivity levels and enhance operational efficiency. According to recent statistics, in 2022, the United States IT industry accounts for more than 32% of the global tech market.
Further, the market in the Asia Pacific is estimated to gain the highest growth during the forecast period, owing to the rising digitalization of companies along with increase in government support through various policies and investments. In India, around USD 11.58 billion was allocated to the IT and telecom sector in the Union Budget 2022-23, according to the India Brand Equity Foundation data. Apart from this, adoption of latest technology along with continuous growth and fast paced transactions in the IT industry are some of the other secondary factors which are anticipated to drive the salesforce CRM document generation software market growth in the APAC region.
SpringCM Inc., a leading cloud-based document generation and contract lifecycle management software company was acquired by DocuSign, Inc. With this acquisition, DocuSign will enhance the Systems of Agreement while modernizing every process all the way from preparing to signing, acting-on and managing agreements.
Apttus Corporation, the market leader in quote-to-cash (QTC) solutions, and Conga, the specialist in contract lifecycle management today announced that the two companies are joining their forces in order to create the market leader in digitally transforming commercial operations.
Author Credits: Abhishek Verma
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