Burlingame, March 28, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, Global Sales Acceleration Software Market is valued at US$ 91.7 million in 2021 and is expected to exhibit a CAGR of 12.5% during the forecast period (2022-2030).
Analysts’ Views on the Global Sales Acceleration Software Market:
Sales acceleration platforms are anticipated to have significant adoption over the course of the projected period due to the rising use of new technologies to improve client interaction. Additionally, it is anticipated that the growing demand for content optimization and data enrichment solutions would have a favorable impact on the sector. Even the governments such as the Government of India used software from companies such as Freshworks Inc. In February 17, 2023 Freshworks Inc. an IT solutions provider, announced that Freshdesk is used by central government agencies and numerous state government organizations to interact with residents, and Freshservice is used internally to divide up service requests among teams working to resolve issues for the general public.
Global Sales Acceleration Software Market- Driver
Need for sophisticated consumer acquisition and targeting strategies is growing
Deep sales insights that take into account the needs, challenges, and responsibilities of audience have led to a considerable increase in sales intelligence products. Additionally, it gives businesses the ability to spot sales-boosting chances and present their offers to clients at the ideal moment. For instance, on March 03, 2023, the multimedia, analytics, and martech division of IDG, Inc. a market intelligence and demand generation company called Foundry, unveiled its account-based sales acceleration tool.
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Rising use of Automation in the industries such as Automotive, BFSI and Others
Global Sales Acceleration Software Market's growth is expected to increase for the forecast period due to rising use of automation in the industry. One of the best features of this technology is its ability to identify and recommend to users the information that was utilized in comparable, effective bids, proposals, and pitches. There is a good chance that two prospects from the same sector who have comparable pain points will be drawn to identical material. For instance, in May 2022, to assist its 1,600 partner brokers in managing their portfolio of premium finance more effectively, Close Brothers Premium Finance (CBPF) is a UK based merchant banking group has introduced new data insight and enrichment capabilities. This new feature shows foresights scores, which make it possible for PL brokers to forecast who is most inclined to terminate mid-term and pay either yearly or monthly, particularly high volume brokers who employ PCWs.
Sales Acceleration Software Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2021 | Market Size in 2021: | US$ 91.7 Mn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2022 to 2030 | |
| Forecast Period 2022 to 2030 CAGR: | 12.5% | 2030 Value Projection: | US$ 264.7 Mn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | LeadSquared, Zendesk, Freshworks Inc., Sage Group plc, Salesloft, Inc., QorusDocs Ltd., EngageBay, SENDER, INC., Yesware, Inc., HubSpot, Inc., ProProfs.com | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Global Sales Acceleration Software Market- Restraint
Risk of data leak and Complications in implementation
In this market, one of the biggest challenges is the complexity of software deployment and implementation. The absence of technical skills presents another difficulty for the market. Additionally, the market's growth is constrained by the fact that only large businesses are permitted to adopt cloud-based technology deployment techniques. The lack of expertise in underdeveloped regions, the variety of needs that are specific to different industries, and data privacy are further barriers that may prevent the market from expanding. Also, during the projection period, insufficient IT infrastructure, a lack of standards, and inefficient data management are key barriers to industry progress.
Global Sales Acceleration Software Market- Opportunity
Opportunities to arise from the integration of AI in sales and marketing processes
Since many businesses use machine learning, natural language processing (NLP), and other cutting-edge technologies to increase their sales, the market is projected to profit during the forecast period. For instance, in May 2022, according to CompleteCSM, Inc., a software business in customer success intelligence, launched the Customer Intelligence Cloud, which will have improved access to customer intent. These measures should open up opportunities for growth in the future.
Global Sales Acceleration Software Market Cross Sectional Analysis:
Fast digitization and high penetration rate of the internet are likely to escalate the market growth in the North America region. Moreover, with various benefits such as more revenue generation offered by the sales acceleration software for Small and Medium Enterprises as well large businesses, the market in the region is expected to have highest growth in the forecast period. For instance, in February 2021, Zendesk Inc., a provider of customer service software with sales and support solutions intended to strengthen client connections, revealed its comprehensive messaging solution, which is a component of the new Zendesk Suite. The new bundle streamlines the enterprise software market with radical simplicity by combining all of Zendesk's service features, including messaging, into one comprehensive solution.
Global Sales Acceleration Software Market Segmentation:
The Global Sales Acceleration Software Market report is segmented into Sofrware Type, Enterprise Size, Indusrty Vertical, and Region
Based on Software Type, the market is segmented into Quality Lead Scoring Software, Lead Databases, Sales-Focused CRMs, Email Tools with Intelligent Follow-up & Data, Meeting Booking Tools, Customer Data Platform, Sales Proposal Management Software. Out of which, Sales Proposal Management Software segment is expected to dominate the Sales Acceleration Software Market
Based on Enterprise Size, Sales Acceleration Software Market is segmented into SMEs, Large Enterprises. The Larger Enterprises is expected to dominate the market over the forecast period and this is attributed to the increasing automation of the enterprises.
Based on Industry Vertical, Sales Acceleration Software Market is segmented into BFSI, Healthcare, Automotive, Real Estate, Ecommerce, Others (Travel, Education etc.). BFSI segment is expected to dominate the market over the forecast period.
Global Sales Acceleration Software Market: Key Developments
Increasing research and development activities and product launch by key players in the market is expected to generate new opportunities in the Global Sales Acceleration Software Market.
In May 2022, For the security sector, Bold Group, a part of EverCommerce's Security & Alarm Solutions, provides complete business administration software and alarm monitoring, introduced "Managely," a company management course designed especially to meet the requirements of the security sector.
In November 2022, NielsenIQ, a data intelligence platform announced the release of Omnisales data for platform members. The platform was created to assist developing brands in driving growth and capturing market share. The new reporting functionality gives small and mid-sized (emerging and growing) firms the knowledge they need to overcome the difficulties posed by omnichannel shopping and behaviour.
June 2022, LeadSquared, a Bengaluru-based sales CRM (Customer Relationship Management) software and marketing automation platform launched Ace, a new sales performance management suite. The Ace Suite combines psychological and analytical strategies in order to gamify sales processes and improve sales success.
August 2022, Momentive a Software Management Company launched a new GetFeedback integration with Zendesk. This innovative approach aims to increase a company's customer experience by providing access to comprehensive and actionable data. To identify gaps in client interactions and produce a single source of customer insights, this integration combines customer feedback from GetFeedback with Zendesk's customer data.
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Key Market Takeaways:
North America dominated the global market in terms of revenue share in the year 2022. The region is expected to continue its dominance over the forecast period owing to the high demand for sales enablement software and other advanced tools by enterprises. Additionally, the growing use of cloud-based solutions is promoting regional development. Furthermore, the increased deployment of these solutions across numerous industries in North America as well as across international markets is a result of businesses' increased attention on customer experience management.
Asia Pacific is anticipated to witness significant growth over the forecast period due to the presence of major key players such as Zendesk, Salesloft, Inc., and others. In addition, greater awareness of sales acceleration software among SMEs and large enterprises presence in the Asia Pacific region market is predicted to experience considerable growth over the forecast period.
Competitive Landscape:
Major players operating in the global sales acceleration software include LeadSquared, Zendesk, Freshworks Inc., Sage Group plc, Salesloft, Inc., QorusDocs Ltd., EngageBay, SENDER, INC., Yesware, Inc., HubSpot, Inc., ProProfs.com.
Market Segmentation:
- Global Sales Acceleration Software Market, By Type:
- Quality Lead Scoring Software
- Lead Databases
- Sales-Focused CRMs
- Email Tools with Intelligent Follow-up & Data
- Meeting Booking Tools
- Customer Data Platforms
- Sales Proposal Management Software
- Global Sales Acceleration Software Market, By Enterprise Size:
- SMEs
- Large Enterprises
- Global Sales Acceleration Software Market, By Industry Vertical:
- BFSI
- Healthcare
- Automotive
- Real Estate
- ECommerce
- Others (Travel, Education etc.)
- Global Sales Acceleration Software Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
- Europe
- By Country:
- Germany
- Italy
- U.K.
- France
- Russia
- Rest of Europe
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Middle East and Africa
- By Country/Region:
- GCC Countries
- South Africa
- Rest of Middle East and Africa
- By Country/Region:
- North America
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