Overview and Scope
Sales force automation software refers to a digital tool designed to automate and streamline sales-related tasks to enhance efficiency and productivity within a sales team. This software is utilized to manage customer interactions, automate sales processes, track sales activities, and analyze sales performance to optimize sales operations and improve customer relationships.
Sizing and Forecast
The sales force automation software market size has grown rapidly in recent years. It will grow from $10.33 billion in 2023 to $11.51 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to the adoption of cloud computing, increasing demand for mobility solutions, the need for process automation, focus on customer experience, and regulatory compliance requirements.
The sales force automation software market size is expected to see rapid growth in the next few years. It will grow to $17.80 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to the rise of predictive analytics, emphasis on data security and privacy, demand for real-time insights, growth in remote workforces, and expansion of subscription-based models. Major trends in the forecast period include sales analytics, integration with virtual reality for product demonstrations, enhanced sales coaching and training tools, integration with blockchain for secure transactions, and expansion of voice-activated assistants for sales tasks.
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Segmentation & Regional Insights
The sales force automation software market covered in this report is segmented –
1) By Deployment: Cloud, On-Premise
2) By Enterprise: Large Enterprises, Small And Medium Enterprises (SMEs)
3) By Application: Lead Management, Sales Forecasting, Order And Invoices Management, Opportunity Management, Other Applications
4) By End-Use: Banking Financial Services And Insurance (BFSI), Retail, Healthcare, Telecom, Manufacturing, Automotive, Media And Entertainment, Other End-Uses
North America was the largest region in the sales force automation software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sales force automation software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing adoption of cloud-based solutions is expected to propel the growth of the sales force automation software market going forward. Cloud-based solutions refer to software or services that are hosted, accessed, and operated entirely over the Internet without the need for on-premises infrastructure. The increasing adoption of cloud-based solutions can be attributed to factors such as their cost-effectiveness, scalability, flexibility, enhanced collaboration capabilities, and the growing demand for remote work infrastructure. Sales force automation software facilitates the increasing adoption of cloud-based solutions by streamlining sales processes, centralizing data access, enabling real-time collaboration among remote teams, and offering scalable infrastructure without the need for extensive on-premises hardware. For instance, in December 2023, according to the European Commission (EC), a Belgium-based executive branch of the European Union (EU), the adoption of cloud-based solutions in 2023 in the European Union increased by 4.2 percentage points, with 45.2% of enterprises purchasing cloud computing services, showcasing a notable rise compared to 2021. Therefore, the increasing adoption of cloud-based solutions is driving the growth of the sales force automation software market.
Key Industry Players
Major companies operating in the sales force automation software market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce.com Inc., Adobe Inc., Infor Inc., Sage Group plc, HubSpot CRM, Pegasystems Inc., Zoho Corporation Pvt. Ltd., Bullhorn Inc., CRMnext, Aptean Inc., Freshworks Inc., Infusionsoft (Keap), SugarCRM, Creatio, Rave Digital, Pipedrive, ACG Infotech Ltd., Consensus Sales Inc., Swiftpage, iRely LLC, Isightly, Shape, Copper CRM Inc, Nimble, Technology Group International, Spiro.AI
The sales force automation software market report table of contents includes:
- Executive Summary
- Sales Force Automation Software Market Characteristics
- Sales Force Automation Software Market Trends And Strategies
- Sales Force Automation Software Market – Macro Economic Scenario
- Global Sales Force Automation Software Market Size and Growth
- Sales Force Automation Software Market Segmentation
- Sales Force Automation Software Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Sales Force Automation Software Market
- Sales Force Automation Software Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Sales Force Automation Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Sales Force Automation Software Market, Segmentation By Enterprise, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Sales Force Automation Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: Microsoft Corporation Financial Performance
Table 76: International Business Machines Corporation Financial Performance
Table 77: Oracle Corporation Financial Performance
Table 78: SAP SE Financial Performance
Table 79: Salesforce.com Inc. Financial Performance
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