Global Sales Performance Management Market, By Component (Solution, Services), Deployment Type (On-Premises, Cloud), Organisation Size (Large Enterprises, Small and Medium-Sized Enterprises), End User (BFSI, Manufacturing, Energy and Utility, Healthcare, Other), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Sales Performance Management Market
Data Bridge Market Research analyses that the sales performance management market will exhibit a CAGR of 16% for the forecast period of 2022-2029 and is likely to reach the USD 29.14 billion by 2029.
SPM stands for sales performance management, which is a collection of operational and analytical services that help automate and integrate back-office operational sales activities. It focuses on forecasting, insights, gamification, quota setting, and sophisticated analytics, among other elements of sales effectiveness. Account segmentation, territory planning, incentive compensation, standard reporting, and pipeline optimization are also available. Organizations all across the world are using SPM tools and methods to improve their operational efficiency and effectiveness.
The sales performance management market is being driven by the increasing automation to improve visibility and avoid calculation inaccuracies. The upsurge in the demand for metric-driven sales tools is a major factor driving the market's growth. The rising enterprise mobility to increase agent engagement and performance is driving up demand for sales performance management market. Other significant factors such as increase in the technological advancements and incorporation of audio-videos conferencing application programming interfaces to improve efficiency and customization will cushion the growth rate of sales performance management market. Another vital factor is the surging adoption of BYOD will accelerate the growth of sales performance management market. Furthermore, growing use of smartphones and tablets and rising need for healthcare services will influence the sales performance management market for the forecast period mentioned above.
Moreover, addition of audio-video conferencing application programming interfaces to improve personalization and productivity will boost the beneficial opportunities for the sales performance management market growth. Additionally, surging demand for reducing risk of abrupt sales and correct prediction of patterns will act as market drivers that will further result in the enhancement of growth rate of sales performance management market.
However, recorded data at the risk of damage and theft will hinder the growth of the sales performance management market. Also, the lack of awareness about the benefits linked with SPM solutions will further pose a challenge to the market. Another factor including the disinclination of small and medium businesses to invest costly business process software and technical barriers will further obstruct the growth rate of sales performance management market.
This sales performance management market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on sales performance management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Sales Performance Management Market Scope and Market Size
The sales performance management market is segmented on the basis of component, deployment type, organisation size and end-user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of component, the network management system market is segmented into platform, solution and services. Solutions are further sub-segmented into incentive compensation management, territory management, sales monitoring and planning, sales analytics, and other solutions. Services are further sub-segmented into professional service, and managed service.
- Based on deployment type, the network management system market is segmented into on-premises and cloud.
- On the basis of organisation size, the network management system market is segmented into large enterprises, small and medium-sized enterprises.
- Network management system market is also segmented on the basis of end-user into BFSI, manufacturing, energy and utility, healthcare and other.
Sales Performance Management Market Country Level Analysis
The sales performance management market is analysed and market size, volume information is provided by country, component, deployment type, organisation size and end-user as referenced above.
The countries covered in the sales performance management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the sales performance management market during the forecast period of 2022-2029 and will continue to flourish its trend of dominance during the forecast period due to the presence of huge number of manufacturers and consumers in this region. Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to the growing urbanization, industrialization and largest emerging economy in this region.
The country section of the sales performance management market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Sales Performance Management Market Share Analysis
The sales performance management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to sales performance management market.
Some of the major players operating in the sales performance management market are Upland Software, Inc., NICE Ltd., Oracle, IBM, Salesforce, SAP, Xactly Corporation, Anaplan Inc., Accent Technologies Inc., Microsoft, Silvon Software Inc., Varicent, Iconixx, beqom, Zoho Corporation Pvt. Ltd., Incentives Solutions Ltd., Performio, Optymyze, Axtria, and Gryphon Networks Corp., among others.
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