The market for CRM is expected to increase from $US13.5 billion in 2001 to roughly $27.8 billion in 2005, according to a report from Aberdeen Group.
Although the market has been impacted by the economy, it will recover from the worldwide slowdown in IT spending, Boston-based Aberdeen said.
The market actually had a negative growth rate of 15.7 per cent between the second quarter and third quarter of this year, with the dollar figure dropping between these quarters, said Isaac Ro, a research associate at Aberdeen. The rate had recovered to negative 2.9 per cent between the third and fourth quarters, he said.
Overall, however, the annual growth rate for 2001 was 9.1 per cent and is expected to be 14.1 per cent in 2002.
Aberdeen's figures are based on application sales of approximately 40 to 45 vendors, integration services and associated hardware.