South East Asia CRM Analytics Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2023 - 2028 |
| Market Size (2023) | USD 1.15 Billion |
| Market Size (2028) | USD 2.12 Billion |
| CAGR (2023 - 2028) | 12.98 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
South East Asia CRM Analytics Market Analysis
The South East Asia CRM Analytics Market size is expected to grow from USD 1.15 billion in 2023 to USD 2.12 billion by 2028, at a CAGR of 12.98% during the forecast period (2023-2028).
In the Southeast Asian region, there has been an increase in the adoption of modern business software applications by midmarket and enterprise companies. This shift aims to improve business processes and enhance the customer experience. E-commerce, ERP, and Customer Relationship Management (CRM) applications have been particularly prominent in this technology adoption trend.
- The growing availability of data has led to an increase in analytics adoption in Southeast Asia, driving the development of the digital economy. This trend has resulted in a significant rise in marketing expenditure in countries such as Singapore, Indonesia, Thailand, Malaysia, and Vietnam, fueled by increased mobile and internet penetration. The percentage of active social media users in Southeast Asia has also seen substantial growth of 47%, further contributing to the marketing expansion.
- Marketers in Southeast Asian countries are emphasizing real-time marketing, omnichannel delivery and engagement, customer journey mapping, and AI. CRM analytics solutions play a crucial role in helping marketing teams plan, execute, and measure campaigns across various channels. By leveraging customer behavior and choice data, these solutions provide valuable insights that enable strategic decision-making. Additionally, they offer organizations a comprehensive, real-time view of customer insights for informed actions.
- Given the ongoing trend of omnichannel presence, particularly in retail and the BFSI sector, marketers employ multi-channel strategies to achieve diverse objectives such as brand awareness, brand building, lead/sales generation, and customer retention.
- The e-commerce sector is expected to be a significant driver in Southeast Asian countries in the coming years, with global organizations investing in and transforming the region's e-commerce market. The number of online shoppers is steadily increasing each month.
- However, the outbreak of COVID-19 harmed the growth of various industries in the region. Extended lockdowns, export bans, and heightened trade barriers imposed by several countries disrupted economic activities. Malaysia, in particular, was expected to experience a slowdown in economic growth to 3.7% in recent years due to COVID-19. The effects of the outbreak on China's economy may continue to affect Malaysia during the post-pandemic. Additionally, in the post-pandemic, online shopping apps in the region witnessed a gradual decline in conversion rates, coinciding with the rise in COVID-19 cases in Malaysia, Singapore, and Thailand.
South East Asia CRM Analytics Market Trends
This section covers the major market trends shaping the South East Asia CRM Analytics Market according to our research experts:
Increasing Adoption of SaaS and Cloud Business Software Applications are Driving the Market's Growth
- SaaS-powered CRM analytics is affordable and provides a way to make sure the organization does not lose track of customers or miss out on key dates and events. It is the first step toward a better digital infrastructure.
- Digitization in the region is benefiting the market's growth positively. It is expected that the developing economies in Southeast Asia are anticipated to become Asia’s next top-ranking digital marketing markets, owing to the growing number of mobile users, increasing demand in internet access, and declining internet connectivity or data prices.
- According to We Are Social and Hootsuite's January 2019 report, internet users in Indonesia, Malaysia, and Thailand were 150.0 million, 25.28 million, and 57.0 million, respectively. Additionally, social media users in Indonesia and Thailand reached 150.0 million and 51.0 million, respectively.
- According to the CRM Cloud Survey Report by SoftClouds (a vendor in technology solutions and digital transformation), 82% of companies use CRM solutions for sales process automation and sales reporting. According to Salesforce, CRM software helps increase employee productivity, enhance customer engagement and retention, and reap other business benefits. According to the Cloudswave, using CRM in sales can increase the number of purchases customers make with the company.
- Owing to the high costs of proprietary technology development, SMEs and startups in the region are increasingly turning to cloud software, infrastructure, and platforms as services. SaaS-based CRM analytics offers many benefits to SMEs.
- The digital transformation of SMEs means not only enhancing their access to information and communication technologies but also improving the uptake and use of digital applications and services. Together, these improvements can foster the digital transformation within economies that are needed to turn the use of digital services and applications into opportunities in the Southeast Asian region.
Growing Adoption of Analytics in Singapore is Expected to Create Growth Opportunities
- Singapore is one of the prominent markets in the region, owing to the increasing adoption of analytics solutions, growing digital population, and government support. According to We Are Social and Hootsuite's January 2019 report, internet users and social media users in Singapore were 4.92 million and 4.60 million, respectively.
- This increased mobile and internet penetration in countries resulted in a drastic increase in marketing expenditure in the region, specifically in Singapore, Indonesia, Thailand, Malaysia, and Vietnam.
- Additionally, Singapore made the greatest advances in analytics and AI. The analytics adoption in Singapore is witnessing substantial growth, owing to the continued government support seen in the form of e-Singapore government initiatives. The city-state has innovated, tested, and piloted various emerging technology solutions. Moreover, Singapore, known as the global hub for innovation, has made its biggest impact on the fintech ecosystem due to its established data and analytics practice.
- In Singapore, efforts by the government and various mobile payments players were showing positive results, as adoption of mobile payments rose by 12% points, from 34% in 2018 to 46% in 2019.
- An important economic sector in the country, retail is made up of about 22,000 establishments and employs approximately 3% of the country’s workforce. For instance, according to the Singapore Department of Statistics, in 2018, the GDP of the Singaporean wholesale and retail industry amounted to approximately SGD 82 billion. In a further boost to Singapore’s retail scene, the government announced a Retail Industry Transformation Map (ITM) to support retailer productivity by embracing digital technologies.
- Retailers benefit from CRM data by tracking purchase behavior over time, suggesting related products for upselling opportunities, and logging loyalty points in customers' accounts to apply toward discounts and free offers.
- Tableau is being used to analyze data from CRM, email, and automation platform. It combines multiple data sources into a single view of closed-loop marketing efforts. Metro, a Singapore-born retail chain, used tableau to break out of limitations from their brick-and-mortar operating model and develop savvier marketing campaigns that improve the customer experience.
- According to Metro, by analyzing customers’ buying history, it developed customer behavior profiles and determined the types of products that they prefer. With this, the company can specifically target them with appealing promotions, helping to save on advertising costs and enhancing customer satisfaction.
- Additionally, Pan Pacific Hotels Group in Singapore is using analytics to identify trends between different sets of customers across diverse regions and countries, so the hospitality vendor can understand and anticipate booking behavior, handle any negative feedback in a more timely way, and deliver more personal and attentive service.
- In October 2019, Spiro, the provider of the proactive relationship management platform, announced that it had recently opened a Singapore office to further expand its presence in the region. According to the company, Singapore is fostering a technology-forward mindset with initiatives that embrace AI throughout its global workforce.
- In Q3, 2019, the company finalized a USD 3 million seed funding round, bringing the total funding to USD 8 million. The additional funding is helping the Spiro scale more rapidly and invest in its innovative AI and natural language processing (NLP) technology. The company's growth is being fueled by its new approach to sales automation, called proactive relationship management that consolidates CRM with telephony and sales enablement into a single, AI-driven platform.
- Furthermore, Singapore’s approach toward tackling the virus outbreak has been the most noteworthy in this region. To mitigate the impact on the business, the country government has extended support in the form of the Unity Budget and the Resilience Budget aimed at helping SMEs tide over this challenging period.
South East Asia CRM Analytics Industry Overview
The Southeast Asian CRM Analytics market is competitive and consists of global and local players. These companies are leveraging product enhancements and partnership initiatives to strengthen their market shares and increase profitability.
- February 2020 - Brekeke Software Inc. announced the integration of Brekeke PBX with Zoho CRM. Office telephonic services built with Brekeke PBX can now seamlessly connect with Zoho CRM by adding their Zoho account information in the Brekeke PBX admin tool. Brekeke PBX users can utilize Zoho’s CRM system to enhance productivity and the quality of their services.
- September 2019 - SugarCRM Inc., a company that helps organizations provide exceptional customer experiences, announced Sugar Discover, an enhanced analytics solution acquired from Corvana, a vendor in advanced CRM Analytics that offers insights to even the most complicated revenue analytics questions, accurately and fast. Sugar customers can look forward to automating 24/7 monitoring of CRM data, detecting events, feeding users what they need to know, and guiding them to answers.
South East Asia CRM Analytics Market Leaders
Salesforce.com Inc.
Oracle Corporation Malaysia Sdn Bhd
Microsoft Services Asia
AquaCRM (Thailand) Co. Ltd
Peppercan (Safecoms.com)
*Disclaimer: Major Players sorted in no particular order
South East Asia CRM Analytics Market Report - Table of Contents
-
1. INTRODUCTION
-
1.1 Study Deliverables
-
1.2 Study Assumptions
-
1.3 Scope of the Study
-
-
2. RESEARCH METHODOLOGY
-
3. EXECUTIVE SUMMARY
-
4. MARKET DYNAMICS
-
4.1 Market Overview
-
4.2 Market Drivers
-
4.2.1 Growing Support and Guidelines for Fostering the Development of SMEs
-
4.2.2 Increasing Adoption of SaaS and Cloud Business Software Applications
-
-
4.3 Market Restraints
-
4.3.1 Significant Resistance Toward On-premise Solutions Due to Complex Pricing Models
-
-
4.4 Porter's Five Forces Analysis
-
4.4.1 Threat of New Entrants
-
4.4.2 Bargaining Power of Buyers/Consumers
-
4.4.3 Bargaining Power of Suppliers
-
4.4.4 Threat of Substitute Products
-
4.4.5 Intensity of Competitive Rivalry
-
-
4.5 Assessment of Impact of COVID-19 on the Industry
-
-
5. QUALITATIVE COVERAGE OF KEY TRENDS IN MAJOR COUNTRIES (In-depth Analysis Pertaining to the Adoption and Utilization of CRM Analytics Tools in Major Countries, such as Malaysia, Singapore, Thailand, Indonesia, and Vietnam)
-
6. MARKET SIZING AND FORECAST OF SOUTHEAST ASIAN CRM ANALYTICS MARKET (in USD million, with 2019 Being the Base Year and 2020-2025 Being the Forecast Period)
-
7. COMPETITIVE LANDSCAPE
-
7.1 Company Profiles
-
7.1.1 AquaCRM (Thailand) Co. Ltd
-
7.1.2 AsiaBiz Networks Company
-
7.1.3 Microsoft Services Asia
-
7.1.4 Oracle Corporation Malaysia Sdn Bhd
-
7.1.5 Peppercan (Safecoms.com)
-
7.1.6 Sage Software Solutions Pvt. Ltd
-
7.1.7 Salesforce.com Inc.
-
7.1.8 SugarCRM Inc.
-
7.1.9 Zoho Corporation
-
7.1.10 Plexure Sdn Bhd
-
7.1.11 Star CRM Sdn Bhd
-
7.1.12 iZeno Pte Ltd
-
7.1.13 Hubspot Asia Pte Ltd
-
- *List Not Exhaustive
-
7.2 Relative Ranking of Vendors
-
-
8. INVESTMENT ANALYSIS
-
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
South East Asia CRM Analytics Industry Segmentation
CRM analytics refers to applications used to assess an organization's customer data to facilitate and streamline business choices. CRM analytical solutions use a range of applications that help measure the usefulness of customer-related processes and eventually provide customer categorization, such as profitability analysis, event monitoring, what-if scenarios, and predictive modeling. The countries considered under the scope for the Southeast Asian region include Malaysia, Thailand, Indonesia, Singapore, and Vietnam.
South East Asia CRM Analytics Market Research FAQs
How big is the South East Asia CRM Analytics Market?
The South East Asia CRM Analytics Market size is expected to reach USD 1.15 billion in 2023 and grow at a CAGR of 12.98% to reach USD 2.12 billion by 2028.
What is the current South East Asia CRM Analytics Market size?
In 2023, the South East Asia CRM Analytics Market size is expected to reach USD 1.15 billion.
Who are the key players in South East Asia CRM Analytics Market?
Salesforce.com Inc., Oracle Corporation Malaysia Sdn Bhd, Microsoft Services Asia, AquaCRM (Thailand) Co. Ltd and Peppercan (Safecoms.com) are the major companies operating in the South East Asia CRM Analytics Market.
South East Asia CRM Analytics Industry Report
Statistics for the 2023 South East Asia CRM Analytics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South East Asia CRM Analytics analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
