Sales Analytics Software Market

Market Study on Sales Analytics Software: Cloud-based Sales Analytics Software to witness Substantial Uptake

Sales Analytics Software Market Segmented by Social Media Marketing, E-mail Marketing, Search Engine Marketing, Content Marketing Application On-Premise, Cloud Deployment

Sales Analytics Software Market Outlook (2022-2032)

The sales analytics software market is anticipated to document a CAGR of 11.6% during the forecast period ranging from 2022-2032. The sales analytics software market is anticipated to reach US$ 12.3 Billion in 2032, from US$ 4.1 Billion in 2022.

“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.”

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.

Attributes

Details

Sales Analytics Software Market CAGR (2022-2032)

11.6%

Sales Analytics Software Market Size (2022)

US$ 4.1 Billion

Sales Analytics Software Market Size (2032)

US$ 12.3 Billion

Find Out More about the Report Coverage

Companies

  • Accenture
  • Adobe Inc.
  • Google Inc.
  • Funnel
  • IBM Corporation
  • Oracle Corporation
  • Salesforce
  • SAS Institute Inc.
  • Tableau Software LLC
  • Teradata Corporation

What are the Factors Impelling Sales Analytics Software Sales?

Rise in 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. 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.

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). SMEs are increasingly using sales analytics to acquire greater insights into how they can run their company more efficiently. SMEs have invested in cloud-based sales analytics software solutions for a variety of reasons, including increased competitive advantage and revenue growth.

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What are some Lucrative Opportunities for the Sales Analytics Software Market?

Organizations can keep all of their data in a single platform utilizing cloud-based sales analytics, extending consistency of information to all devices while lowering the cost of investment in many sources for each device. This information can be used anywhere and at any time. Several end users, including banking, financial services, insurance (BFSI), retail, healthcare, manufacturing, telecommunications & IT, and media & entertainment have rapidly embraced cloud-based sales analytics, which boost the market's global expansion.

The ability of sales analytics software to enable better and faster decision-making as well as a competitive edge by analyzing and acting on data in a timely manner has propelled the market forward. Furthermore, the demand for sales analytics software has grown due to the advantages it provides, such as easy access to critical company indicators, helpful insight into customer behavior, greater revenue, and enhanced productivity.

Moreover, businesses utilize sales analytics for real-time forecasting and monitoring of a variety of events that may impact an organization's performance. In addition, the ability of the solution to quickly mitigate risks by optimizing complicated judgments concerning unanticipated occurrences such as cyber-attacks and other crises drives the sales analytics software industry forward.

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What are the Challenges faced by the Sales Analytics Software Market?

Sales analytics software provides numerous features such as deeper win insights and attribution around drivers, as well as greater sales targeting efficiency, but has few restraints as well. The high implementation cost of deploying the sales analytics software and easy availability of open-source solution are some factors restraining the growth of this market.

In addition, another major challenge faced by the vendors of sales analytics software is to create awareness among the customers about the software and its features. Moreover, lack of skilled workforce is another major concern that is expected to hinder the market growth during the forecast period.

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Comparative View of Adjacent Sales Analytics Software Market

Attributes

Sales Analytics Software Market

CAGR (2022-2032)

11.6%

Market Value (2032)

US$ 12.3 Billion

Growth Factor

Rise in 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.

Opportunity

The ability of sales analytics software to enable better and faster decision-making as well as a competitive edge by analysing and acting on data in a timely manner has propelled the market forward.

Key Trends

The need of traffic analysis on a particular online marketing channel is also driving the growth of this market.

Comparative View of Adjacent Marketing Analytics Software Market

Attributes

Marketing Analytics Software Market

CAGR (2022-2032)

14%

Market Value (2032)

US$ 10.5 Billion

Growth Factor

The major factor that is expected to accelerate the growth of the market includes the Increasing need to utilize marketing budgets for an effective ROI is estimated to boost the market over the forecast period.

Opportunity

The adoption of cloud technology and Big Data is also increasing the growth of the marketing analytics market.

Key Trends

Technology giants like Google, Adobe, Salesforce, and Oracle added more data sources to their ever-growing marketing capabilities, which in turn is expected to fuel the market growth.

Comparative View of Adjacent Sales Intelligence Market

Attributes

Sales Intelligence Market

CAGR (2022-2032)

10.6%

Market Value (2032)

US$ 9.0 Billion

Growth Factor

The increasing need for creating an ideal customer profile data quality management and managing leads better is expected to drive the growth of the Sales Intelligence market.

Opportunity

Sales Intelligence software enables businesses to make better use of internal and external data in order to boost sales and enhance sales processes.

Key Trends

The increased usage of corporate technographics to identify buying intent and improve prospecting is a major factor that is expected to fuel the market growth.

The key drivers of this sales analytics software market include increasing trend of social media channels, need of exact calculation of ROI on online marketing efforts, and the need for understating the customer behavior.

Moreover, there is huge increase in investment by the companies across globe for the marketing analytics in order to maximize their Marketing Return on Investment (MROI) and have competitive advantage.

In addition to this, the need of traffic analysis on a particular online marketing channel is also driving the growth of this market.

What is the Segmentation Outlook for the Sales Analytics Software Market?

Social Media Marketing to be primary Application Area

On the basis of application, the social media marketing segment of the sales analytics software market is expected to hold a larger market size with a CAGR of 11.5% during the forecast period.

Social media analytics tools such as Brandwatch track and analyze data from more than 95 million sources, including blogs, forums, and review sites, as well as social networks. They also provide the data you need to assess your social media marketing strategy on both macro and micro levels.

Cloud-based Sales Analytics Software to experience Maximum Deployment

By deployment, the cloud segment of the sales analytics software market is expected to grow at the highest CAGR of 11.1% during the forecast period. The cloud-based deployment will dominate the market over the forecast period, as the cloud technology provide better flexibility, high degree of security and level of control and it is also a cost-effective solution.

The Cloud deployment helps businesses to accomplish cross-channel communication with their customers, enabling them to send information via emails, text messages, push alerts, in-app, and web notifications, as well as on-site warnings. It can also be used to share online and offline reviews as well as feedback reports with customers.

Which is the Key Region in the Sales Analytics Software Market?

Regions

CAGR (2022-2032)

United States

11.4%

China

11.1%

Japan

10.7%

UK

10.6%

North America to be an Opportunistic Growth Spot for Future Growth

North America region is expected to dominate the market and is expected to account for the highest market share during the analysis period. This can be attributed to the trend of high social media usage and the availability of high-speed internet services in the region. The high usage of social media offers marketers a new and efficient channel to engage in advertising and marketing practices.

In addition, a significant e-commerce ecosystem in the region offers marketers the opportunity to analyse the data generated by e-commerce sales, thus offering insights regarding customer buying preferences, which helps design efficient marketing strategies. The US is expected to represent a massive growth of US$ 4.4 Billion in the sales analytics software market, with a CAGR of 11.4% during the forecast period.

Asia Pacific to Post Significant Gains in the Global Sales Analytics Software Market

The Asia Pacific is also expected to accounts for a significant revenue share during the forecast period. This can be attributed to the vital AI development hubs in Singapore, Vietnam, and Malaysia. The emergence of new start-ups that offer AI-enabled analytics services is also driving the regional market.

Moreover, the rapid implementation of digital government initiatives in Singapore, China, and Japan has led to the emergence of several start-ups that offer services based on analytics and other advanced technologies, offering an impetus to the regional market growth.

China is expected to represent a massive growth of US$ 917 Million in the sales analytics software market, with a CAGR of 11.1% during the forecast period. On the other hand, Japan is expected to represent a massive growth of US$ 788.5 Million in the market, with a CAGR of 10.7% during the forecast period.

How does Competition Influence the Sales Analytics Software Market?

GoodData, InsightSquared, Datapine, Looker, Alteryx, Oracle, Aviso, Sisense, Cien, Brandwise, CallidusCloud, SalesChoice, Collective[i], and Salesforce, among others are the top companies in the global sales analytics software market. In order to strengthen their position in the global sales analytics software market, organizations are focused on industry collaborations, mergers & acquisitions, and partnerships.

The research offers a comprehensive competition analysis of some top competitors in the sales analytics software market, including company biographies, recent developments, and significant market strategies. It shows how the competitors are taking advantage of the opportunities present in the sales analytics software market.

  • 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.
  • In December 2021, Aviso AI, the only predictive Revenue Intelligence platform recognized for its whole-body Guided Selling System since 2019 had launched the industry's first revenue intelligence focused Value Estimation Calculator for AI sales platforms to help every company demand more value from their Sales AI investments. The Value Calculator is a self-serve, free-to-use tool to help Commercial Sales leaders and CROs, as well as Enablement and Productivity leaders quantify the value of an integrated revenue intelligence approach to their business.

Report Scope

Attributes

Details

Forecast period

2022-2032

Historical Data Available for

2015-2021

Market Analysis

USD Mn for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Italy
  • France
  • U.K.
  • BENELUX
  • China
  • Japan
  • South Korea
  • GCC Countries
  • Turkey
  • South Africa

By Market Segments

  • Application
  • Deployment
  • Organization Size
  • Industry Vertical
  • Region

Key Companies Profiled

  • GoodData
  • InsightSquared
  • Datapine
  • Looker
  • Alteryx
  • Oracle
  • Aviso
  • Sisense
  • Cien
  • Brandwise
  • CallidusCloud
  • SalesChoice
  • Collective[i]
  • Salesforce

Pricing

Available Upon Request

Key Segments Covered in the Sales Analytics Software Industry Analysis

Sales Analytics Software Market by Application

  • Sales Analytics Software for Social Media Marketing
  • Sales Analytics Software for E-mail Marketing
  • Sales Analytics Software for Search Engine Marketing
  • Sales Analytics Software for Content Marketing
  • Sales Analytics Software for Other Applications

Sales Analytics Software Market by Deployment

  • On-Premise Sales Analytics Software Deployment
  • Cloud Sales Analytics Software Deployment

Sales Analytics Software Market by Organization Size

  • Sales Analytics Software for SMEs
  • Sales Analytics Software for Large Enterprises

Sales Analytics Software Market by Industry Vertical

  • Sales Analytics Software for Retail
  • Sales Analytics Software for Consumer Goods
  • Sales Analytics Software for Industrial Use
  • Sales Analytics Software for BFSI
  • Sales Analytics Software for Media & Communication
  • Sales Analytics Software for Healthcare
  • Sales Analytics Software for Other Industry Verticals

Sales Analytics Software Market by Region

  • North America Sales Analytics Software Market
  • Europe Sales Analytics Software Market
  • Asia Pacific Sales Analytics Software Market
  • Middle East and Africa Sales Analytics Software Market
  • Latin America Sales Analytics Software Market

- FAQs -

The global sales analytics software market is projected to register a CAGR of 11.6% in 2032

The U.S is the leading country, with an anticipated market share of US$ 4.4 Billion by 2032.

On the basis of application, the social media marketing category leads the market with the projected CAGR of 11.5% by 2032.

The sales analytics software market is predicted to grow US$ 12.3 Billion by 2032.

By Deployment, the cloud segment leads the market with the projected CAGR of 11.1% in 2032.

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