CRM will be the heart of digital spending in the coming years, says Gartner in a new report.
"This is one technology area that will definitely get funding as digital business is crucial to remaining competitive," said Joanne Correia, research vice president at Gartner.
CRM software revenue is forecast to reach $23.9 billion in 2014, with cloud revenue accounting for 49% of this.
SaaS- or cloud-based CRM deployments currently represent more than 40% of all CRM deployments, and look set to reach 50% during 2015.
Hot areas for CRM investment include mobility, social media and technologies, Web analytics and e-commerce.
Sectors like telecommunications, high-tech, banking, insurance, securities, pharmaceutical, consumer goods, IT manufacturing and IT services vertical industries will continue to be the largest spenders on CRM.
"They have the widest use of different types of CRM applications and technologies," said Ed Thompson, vice president and distinguished analyst at Gartner. “All these industries are also increasing investment in emerging economies, further driving spend."