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Sales Acceleration Platforms Market Segmented By Sales Acceleration Platforms, Sales Proposal Automation, Customer Relationship Management, Sales Email, Sales Intelligence
Growth of the sales acceleration platform is expected to expand at a CAGR of 14.4% while amassing a revenue of US$ 351 Million by the end of 2032. The market valued at US$ 78 Million in 2021 and is likely to garner US$ 91.7 Million in 2022.
“Rapid digitization and the rising importance of customer behavior are expected to strengthen the global sales acceleration platforms market in the forecast period.”
Increasing adoption of modern solutions to enhance customer engagement is expected to play a significant role in developing the sales acceleration platforms market in the forecast period. Also, rising demand for data enrichment tools and content optimization are projected to positively influence the industry.
| Attributes | Details |
|---|---|
|
Sales Acceleration Platforms Market CAGR (2022-2032) |
14.4% |
|
Sales Acceleration Platforms Market Size (2022) |
US$ 91.7 Million |
|
Sales Acceleration Platforms Market (2032) |
US$ 351 Million |
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Increasing demand for advanced customer targeting and customer acquisition methods is expected to drive the global sales acceleration platforms market during the forecast period. There has been a significant rise in sales intelligence tools owing to deep sales insights in accordance with the demand of audiences, challenges, and responsibilities. Moreover, it also empowers organizations to identify opportunities that boost sales and provide their offers to customers at an appropriate time with the best sales pitch. For instance, Expertia AI, an India-based startup, is helping SMEs automatically identify top candidates from a pool of applicants. It is a SaaS startup. Furthermore, it restricts the population funnels research and budgets to customers with maximum profit potential and is assisting enterprises to enhance their RoI, which is predicted to support the market growth in the forecast period.
In addition, increasing demand for content optimization and data enrichment tools are anticipated to provide a significant boost to the market in the forecast period. For instance, in May 2022, Close Brothers Premium Finance (CBPF) launched new data insight and enrichment tools to help its 1,600 partner brokers enhance their premium finance portfolio. Benefits offered such as; better segmentation and targeted engagement, enhancing existing data, and availability for analytics, among others, are expected to drive the market expansion during the assessment period.
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Get a Customized VersionIntegration of AI in sales and marketing operations is expected to offer various opportunities for expansion in the forthcoming time. Machine Learning, Natural Language Processing (NLP), and other advanced technologies are adopted by various companies to boost their sales, thus, it is likely to benefit the market during the forecast period. In May 2022, CompleteCSM, Inc., a software company that democratizes Customer Success Intelligence, announced the launch of the Customer Intelligence Cloud. The modern solution offers Customer Success teams better access to the customer intent data. Such initiatives are expected to pave avenues for expansion in the coming time.
AI is incorporated with sales and marketing to boost the sales process and assist enterprises. Owing to various benefits, AI is gaining traction in the concerned field and also experiencing funding. For instance, in April 2022, an India-based sales intelligence startup, known as Humantic AI raised US$ 1.5 Million in funding from Pinterest and Coinbase. Furthermore, there is also a rising integration of Machine Learning Programs, NLP, and others.
These modern techniques help in processing the information from various sources to provide lucrative insights into the decision-making process. The ongoing advancement in the market is predicted to provide various remunerative opportunities to the industry in the assessment tenure.
Lack of technical expertise is expected to hamper the market growth in the forecast period. In addition, complications associated with the deployment of cloud-based models are anticipated to pose another significant challenge to the market. Also, the deployment of cloud-based is limited to large enterprises only, which inhibits the expansion of the market.
In addition, the dearth of awareness in underdeveloped regions, the disparity in industry-specific requirements, and data privacy are other factors that can hinder market growth. Moreover, lack of IT infrastructure, lack of standardization, and data management efficiency are other important factors impeding the growth of the market in the forecast period.
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| Attributes | Global Sales Acceleration Platforms Market |
|---|---|
|
CAGR (2022-2032) |
14.4% |
|
Market Value (2032) |
US$ 351 Million |
|
Growth Factor |
Growing demand for modern customer targeting and customer acquisition methods is expected to drive the market in the forecast period. |
|
Opportunity |
Integration of AI in sales and marketing operations is expected to offer various opportunities for expansion in the forecast period. |
| Attributes | Global Sales Engagement Market |
|---|---|
|
CAGR (2022-2032) |
14.9% |
|
Market Value (2032) |
US$ 29.6 Billion |
|
Growth Factor |
Increasing demand to carry out a seamless business process is expected to drive the market during the assessment period. |
|
Opportunity |
Increasing adoption of cloud-based solutions is expected to provide significant opportunities for market expansion in the assessment tenure. |
| Attributes | Global Customer Data Platform Market |
|---|---|
|
CAGR (2022-2032) |
14% |
|
Market Value (2032) |
US$ 7.2 Billion |
|
Growth Factor |
Growing demand for Real-time and personalized data analysis is expected to boost the market in the forecast period. |
|
Opportunity |
Emergence of automated smart machinery is expected to enhance customer experience and is projected to act as a lucrative opportunity for the market in the forthcoming period. |
The rapid digital transformation across the globe is projected to escalate the market in the forecast period. The rising demand for organizations to boost the business process is another factor strengthening the market in the forthcoming time. Further, the active participation of players is likely to augment the market size in the forecast tenure. For instance, in 2022, Salesloft, a globally renowned sales engagement software maker, unveiled a new AI-powered sales for better forecasting.
The IT and Telecom segment is expected to be a significant consumer. The sector is adopting modern methods which are transforming the market notably. Adoption of a sales acceleration platform is assisting enterprises with a better speed-to-market process, and to conclude heft deals at a swifter pace. Moreover, players are taking various efforts to strengthen their position in the market, which will benefit the industry in the long run. In May 2022, Zendesk, an American SaaS provider, released new features for its customer service and CRM platform, which also includes a low-code update to its flagship Answer Bot that enhances customer service workflows.
With the growing importance of understanding customer behavior, organizations have adopted various advanced methods to provide the best performance in real-time. The rising inclination of organizations to integrate modern methods such as; IoT, AI, Embedded Analytics, and others, are expected to escalate the market growth and also offer various opportunities for market avenues. In June 2021, Salesforce.com announced the capabilities across digital 360 to help enterprises in expediting their digital activities and initiatives to offer the next generation of commerce and digital market. Owing to such factors, the industry is likely to flourish in the assessment tenure.
The market is likely to suffer during the forecast period owing to issues associated with safety and security. There have been increased instances of data breaches through sales acceleration platforms. Apollo, a sales engagement platform, revealed, that in a 2018 data breach instance, more than 2000 million contact records were hacked. In order to deal with such incidents, organizations are focusing to protect their data. For instance, in May 2022, CyberArk launched a US$ 30 Million investment fund to assist the next generation of disruptors in tackling complex security challenges with advanced methods. Such initiatives are expected to act as a significant counter and help the market to grow in the forecast time.
Based on the end-use segment, the BFSI segment is also projected to be a lucrative vertical. The segment is predicted to record a CAGR of 13.9% during the forecast period.
The growth of the market can be attributed rising adoption of sales intelligence systems in the BFSI vertical. There are various AI applications in the segment, such as; fraud detection, risk management, algorithmic trading, and others. This is projected to drive the segmental growth in the forecast period. Players are making various contributions that are driving segmental growth. For instance, LeadGenius, a market automation company in America, provides sales intelligence solutions to the BFSI sector. The company meets the requirement of data management, analytics, lead management, and reporting requirements in the BFSI sector.
| Regions | CAGR (2022-2032) |
|---|---|
|
U.S |
14.1% |
|
U.K |
13.3% |
|
China |
13.8% |
|
Japan |
12.8% |
|
South Korea |
11.8% |
According to the analysis, the global sales acceleration platforms market is anticipated to be dominated by North America. In the region, the U.S is projected to lead the regional market. The U.S region is anticipated to garner a market value of US$ 124.7 Million, while recording a CAGR of 14.1% during the assessment period. The growth of the market can be attributed to the presence of various established players in the region. In May 2022, ON24 announced the latest innovation across the ON24 platform. As per the update, customers can increase prospect and customer engagement and offer a better-customized experience with the following new products, capabilities, and features.
Higher penetration of the internet and rapid digitization are likely to escalate the market growth in the region. With various benefits offered by the sales acceleration platforms market, the market in the region is expected to flourish in the assessment period.
On the other hand, APAC is anticipated to record the fastest growth during the forecast period. As per the analysis, China is expected to record the highest CAGR during the assessment period. China is estimated at 13.8%, while Japan and South Korea are anticipated to exhibit a CAGR of 12.8% and 11.8%, respectively.
Growing initiatives to enhance customer retention is expected to play a salient role in developing the market in the forecast period. Other factors like digital transformation, technology, cloud deployment, and the presence of various startups are other potential factors supporting the market expansion in APAC during the forecast period.
Introduction of new software and boosting R&D is the priority of key players functioning in the market. In order to strengthen its position in the global sales acceleration platforms market, players are focusing on collaborations, mergers & acquisitions, and partnerships. Some of the recent industry developments are:
| Attributes | Details |
|---|---|
|
Forecast Period |
2022-2032 |
|
Historical Data Available For |
2015-2021 |
|
Market Analysis |
USD Mn for Value |
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Key Countries Covered |
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By Market Segments |
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Key Companies Profiled |
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Pricing |
Available Upon Request |
Sales Acceleration Platforms Market by Type
Sales Acceleration Platforms Market by End Use
Sales Acceleration Platforms Market by Region
The global sales acceleration market is estimated at 14.4% CAGR during the forecast period.
The U.S is anticipated to lead the global market while amassing a revenue of US$ 124.7 Million by 2032
The BFSI segment is projected to lead the market while recording a CAGR of 13.9% by 2032
The global sales acceleration platform market is anticipated to garner US$ 351 Million by 2032.
The configure price quote segment is likely to record a CAGR of 14.2% during the forecast period by 2032.
