Rockville, Oct. 26, 2022 (GLOBE NEWSWIRE) -- The sales performance management software market is expected to develop at a CAGR of 11.6% through 2032, from USD 5.4 billion in 2022 to USD 16.3 billion by 2032.
Growing automation to enhance visibility and eliminate mistakes in incentive compensation computation, increased need for metric-driven sales of sales performance management software tools, and increasing business mobility to promote agent engagement and performance are driving demand for sales performance management software.
Cloud technology's cost-effectiveness and flexibility facilitate the sales performance management software adoption trends; companies have begun transitioning to cloud environments for optimizing planning and management and enhancing the performance of sales representatives, which has bolstered the sales performance management software market growth. This has also stymied the sales performance management software market future trends.
Want A Detailed Understanding of Market Functioning? Request for a Sample Here – https://www.factmr.com/connectus/sample?flag=S&rep_id=7348
The expansion of the sales performance management software market has been hampered by decreased utilisation by Small and Medium-sized Enterprises (SMEs) due to higher expenditures on alternative collaboration technologies, lower earnings, and reduced allocation of IT resources.
Implementing sales performance management software solutions gives both representatives and supervisors a rapid and accurate picture of the complete sales performance management software operations. It assists them in proactively eliminating variable pay irregularities and increasing productivity, which brings out sales performance management software market opportunities.
Companies and sales teams are increasingly turning to sales performance management software solutions to acquire a comprehensive view of performance. Businesses are increasingly turning to sales performance management software solutions to boost productivity and streamline procedures for escalated adoption of sales performance management software.
Due to United States strong economic landscape, early acceptance of modern technologies, significant digital adoption at workplaces to enhance business operations, and high technological awareness, the United States sales performance management software market is mature for software solutions.
Industrialized economies in the area, such as the United States and Canada, have fairly accepted sales performance management software solutions while also adding new technology.
Several sales performance management software solution providers, including SAP, Anaplan, Oracle, Xactly, and Varicent, are the primary driving drivers for the sales performance management software market growth.
Recent Development in the Sales Performance Management Software Market:
- To broaden its sales performance management software adoption trends, Xactly released Operational Sales Management (OSM) in November 2020. The introduction will help Xactly improve its position in the sales performance management software opportunities.
- NICE inContact announced the fall release of NICE in Contact CXone in October 2020, with new features such as auto-discovery of trends across digital and voice interactions for deeper operational visibility, agent engagement, and new real-time customer authentication for better customer and agent interactions.
- Varicent developed mobile applications in November 2020 to give reporting options comparable to those found in the Varicent platform. Varicent's position in the sales performance management software market has been strengthened as a result of the introduction.
- Oracle's 21 A upgrade released in December 2020, added new and improved functionality to the Territory Management and Incentive Compensation components of its Oracle Sales Performance Management Cloud.
Need an Exclusive Report for Your Unique Requirement, Enquiry Now! – https://www.factmr.com/connectus/sample?flag=EB&rep_id=7348
Key Takeaways:
- The software category in the component sector of the sales performance management software market is expected to grow at a CAGR of 11.3% through 2032.
- The incentive compensation management in the solution segment of the sales performance management software market is increasing at a CAGR of 11.2% through 2032.
- The sales performance management software market in the United States is expected to reach US$ 5.6 Billion by 2032, growing at a CAGR of 11.4% through 2032.
- By 2032, the UK's sales performance management software market is predicted to be valued at US$ 677.5 Million, with a CAGR of 10.6% through 2032.
- With a CAGR of 11% through 2032, China's sales performance management software market is predicted to reach US$ 1.2 Billion by 2032.
- By 2032, the market for sales performance management software in Japan is estimated to be worth US$ 1 Billion, growing at an annual rate of 10.2% through 2032.
- With a CAGR of 9.2% throughout the forecast period, South Korea is predicted to reach a market size of US$ 577.5 Million in sales performance management software by 2032.
Sales Performance Management Software Market Key Players
- Accent Technologies, Inc.
- Altify
- Anaplan, Inc.
- Axtria India Pvt Ltd
- Beqom
- Board International S.A.
- SAP
- Cellarstone India Pvt Ltd
- Gryphon Networks Corp
- Iconnix Software Corp
- Incentive Solutions Ltd
- InnoVyne Technologies
- International Business Machines Corp
- Microsoft Corp.
- Nice Ltd.
Choose Quick and Secure PayPal Payment Mode to Get Full Access of This Report- https://www.factmr.com/checkout/7348
Key Segments
- By Component :
- Services
- Managed Services
- Professional Services
- Software
- Cloud-based
- On-premises
- Services
- By Solution :
- Incentive Compensation Management
- Sales Coaching
- Sales Forecasting
- Sales Planning
- Talent Management
- By End User :
- BFSI
- Healthcare
- Retail
- Telecom & IT
- Transportation and Logistics
- By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
Check out more related studies published by Fact.MR Research:
Labor Management Software Market: A labor management software is an application designed to manage staff or human resources in a distribution center. Labor management software is an important component of critical supply chain execution suite of applications. Labor management software deals with task management, scheduling, time and attendance, and monitoring of indirect time.
Inspection Management Software Market: The inspection management software exhibited impressive growth at a CAGR of over 11% during 2013-2017. Automation making deep inroads in business ecosystems worldwide is one of the key factors upholding large-scale adoption of inspection management software.
Workshop Management Software Market: The increasing spending on luxury due to the growing standard of living has led to an increase in the purchase of comfort amenities such as vehicles. This has led to an increase in the number of workshops offering various services for these automobiles. In order to efficiently manage these workshops, the demand for workshop management software has increased.
Worldwide Persuasive Content Management Software Market: The worldwide persuasive content management software market is one of the fastest growing markets. Persuasive Content Management Software help businesses enhance user experience to attract new users from the ecosystem.
Management System Certification Market: The global management system certification market is poised to increase at a steady CAGR of 5.1%, reaching US$ 43.6 Bn by 2032 from US$ 25 Bn in 2021.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Tel: +1 (628) 251-1583
