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Study: CRM to triple in seven years

Siebel Systems and its rivals report shrinking demand for their customer relationship management (CRM) applications this year, but a new forecast from IT research firm Frost & Sullivan predicts the market will eventually spring back. In a recent report, research firm Frost & Sullivan predicted that the market for CRM software, which topped $11 billion last year, would reach nearly $36 billion in 2008. The market for wireless CRM applications, used by sales and service staff to check on customer accounts on the road, should reach $2.5 billion in 2008, according to the forecast.

Siebel Systems and its rivals report shrinking demand for their customer relationship management (CRM) applications this year, but a new forecast from IT research firm Frost & Sullivan predicts the market will eventually spring back. In a recent report, research firm Frost & Sullivan predicted that the market for CRM software, which topped $11 billion last year, would reach nearly $36 billion in 2008. The market for wireless CRM applications, used by sales and service staff to check on customer accounts on the road, should reach $2.5 billion in 2008, according to the forecast.