New York, May 26, 2022 (GLOBE NEWSWIRE) -- As per a study by Persistence Market Research, from US$ 4.1 Billion in 2022 to US$ 12.3 Billion in 2032, the global sales analytics software market is predicted to grow at an 11.6% CAGR from 2022 to 2032. Growing adoption of sales analytics software by multiple organizations and surge in demand for cloud-based sales analytics software among SMEs boost the growth of the sales analytics software market.
Increased availability of large amounts of data and easy access to low-cost data center services provided by cloud vendors have resulted in lower upfront investment costs for small and medium-sized firms, lowering the market entry barrier. The demand for cloud-based sales analytics software among small and medium-sized businesses has increased as a result (SMEs).
In addition, increase in awareness regarding numerous benefits provided by sales analytics solutions and worldwide acceleration of digital transformation in enterprises fuels growth of the market. Conversely, emerging trends such as social media analytics & text analytics and increase in need to gain insights for business planning are expected to provide numerous opportunities for the expansion of the market during the forecast period.
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Key Takeaways:
- On the basis of application, the social media marketing category to grow at an 11.5% during the forecast period.
- Cloud-based deployment to be maximum, with a CAGR of 11.1% during the forecast period.
- The sales analytics software market in the U.S expected to be worth US$ 4.4 Billion by 2032
- China is expected to reach US$ 917 Million by 2032, growing at a CAGR of 11.1% during the research period.
- Japan to reach a market size of US$ 788.5 Million in by 2032
- U.K is expected to document a value CAGR of 10.6% during the research period
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“The major factor that is expected to accelerate the growth of the sales analytics software market during the forecast period includes the increased demand for cloud-based sales analytics software among small and medium-sized businesses.”
Competitive Landscape
Major players such as GoodData, InsightSquared, Datapine, Looker, Alteryx, Oracle, Aviso, Sisense, Cien, Brandwise, CallidusCloud, SalesChoice, Collective[i], and Salesforce, among others are expected to dominate the market share in terms of revenue.
- In March 2022, GoodData, the leader in data and analytics infrastructure, announced the release of dashboard plugins that enable enhanced capabilities for dashboards customization without the need of GoodData support. The new feature will allow GoodData customers to personalize their experience and drive success for their specific needs.
- In June 2021, InsightSquared, the leader in revenue intelligence, introduced the InsightSquared Platform for Bullhorn, a modern activity reporting and dashboarding solution that helps recruiting firms gain a competitive advantage using data. With the new platform, recruiting firms can go beyond traditional reporting such as the number of submittals, interviews and notes, to understand exactly which activities, or combination of activities, led to successful placements and most importantly, why.
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Find More Valuable Insights on Sales Analytics Software Market
Persistence Market Research (PMR) published a detailed study on the Sales Analytics Software Market, which includes global industry analysis for 2015-2021 and forecasts for 2022-2032.
The report provides an insightful analysis of the market concentration across five different regions, through four different segments-application, deployment, organization size, and industrial vertical.
The report titled - 'Sales Analytics Software' deliberates current installed base, product usage in various applications from domestic to industrial, as well as prevailing trends and technologies. Along with this, detailed value chain analysis pertaining procurement and aftermarket services has been presented in the report.
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