Salesforce (CRM) is expected to witness strong growth ahead, according to research firm Future Market Insights (FMI). The global Salesforce Services Market is set to grow rapidly, from $17.19 billion in 2024 to $73.29 billion by 2034, with a strong annual growth rate of 15.6%. The expansion is likely to be driven by more companies adopting digital solutions, using smarter CRM tools, and integrating AI into their operations.
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CRM stock traded higher in the early Wednesday trading session.
Key Growth Drivers
The firm noted that companies across finance, retail, healthcare, and manufacturing sectors are using Salesforce services to simplify their work and better connect with customers.
The growth is primarily fueled by several key factors, such as increasing demand for efficient CRM solutions as companies focus on deeper customer insights and more efficient engagement tools. Also, the company’s integration of AI into its platforms is helping businesses predict customer behavior, automate tasks, and improve decision-making.
Key Segments Fueling Growth
Two of Salesforce’s segments are driving the growth, according to FMI. The Planning Services segment holds a strong 40% market share in 2024, showing its key role in Salesforce services. It includes strategy, setup, and customization to help businesses align Salesforce with their goals, processes, and industry needs.
Also, the Sales Cloud segment’s market share was likely 25% in 2024. It involves improving sales processes, lead management, and team productivity through automation tools.
Is CRM a Buy, Hold, or Sell?
Turning to Wall Street, CRM stock has a Moderate Buy consensus rating based on 33 Buys, nine Holds, and two Sells assigned in the last three months. At $352.03, the average Salesforce stock price target implies a 31.97% upside potential.
