by The global Open source CRM software Market is estimated to be valued at US$ 2.59 Bn in 2023 and is expected to exhibit a CAGR of 12.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Open source CRM software includes customer relationship management tools that are available for free use under an open source license. These solutions provide features such as contact management, account and deal management, tracking emails and Communications at affordable prices.
Market key trends:
One of the key trends in the open source CRM software market is the growing adoption of multi-tenant SaaS deployment model. Multi-tenant SaaS deployment allows multiple organizations to use the same instance of an application simultaneously. This reduces the cost of ownership and complexity associated with hardware maintenance and software upgrades. It offers benefits such as easy setup, automated upgrades, scalability and simple pay-as-you-go pricing model which is driving its adoption among small and medium enterprises.
One of the key trends in the open source CRM software market is the growing adoption of cloud-based open source CRM solutions by small and medium-sized enterprises (SMEs). Cloud-based open source CRM software offers benefits like cost-effectiveness, easy deployment, automatic upgrades, scalability, and 24/7 availability to SMEs. This has boosted the adoption of open source CRM among SMEs across industries.
SWOT Analysis
Strengths: Open source CRM software offers full customization options and flexibility to users. It eliminates vendor lock-ins and provides access to the source code.
Weaknesses: Lack of direct technical support from developers. Require in-house IT expertise for installation and maintenance.
Opportunities: Growing demand from SMBs due to cost benefits over proprietary CRM solutions. Increasing adoption of cloud-based open source CRM is also an opportunity.
Threats: Entry of other free and low-cost proprietary CRM alternatives can impact the growth. Security issues and bugs can jeopardize customer relationships.
Key Takeaways
Global Open Source CRM Software Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing adoption of cloud-based open source CRM solutions among SMEs.
The North America region is expected to dominate the global open source CRM software market over the forecast period. This is attributed to presence of major market players and early adoption of open source technologies in the region.
Key players operating in the open source CRM software market are Odoo, SuiteCRM, VTiger, Salesforce, Zoho, HubSpot, Pipedrive, Insightly, Base, Apptivo, Nutshell, Really Simple Systems, Teamgate, Bitrix24, Creatio, vTiger, SugarCRM, Zurmo, FatFree CRM, EspoCRM.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
