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Sales Analytics Software Market Segmented by Social Media Marketing, E-mail Marketing, Search Engine Marketing, Content Marketing Application On-Premise, Cloud Deployment
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 |
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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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Get a Customized VersionOrganizations 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.
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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| 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. |
| 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. |
| 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.
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.
| 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.
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.
| Attributes | Details |
|---|---|
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Forecast period |
2022-2032 |
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Historical Data Available for |
2015-2021 |
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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 Analytics Software Market by Application
Sales Analytics Software Market by Deployment
Sales Analytics Software Market by Organization Size
Sales Analytics Software Market by Industry Vertical
Sales Analytics Software Market by Region
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.
