The Business Research Company’s report on the Sales Performance Management Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the sales performance management market in recent years?
The increase in automation is expected to propel the growth of the SPM market going forward. Automation is a set of operational and analytical functions used to automate and combine back-office operational sales activities. Major players in the SPM market are adopting automation processes to increase operational efficiency and effectiveness. For instance, in May 2022, according to Eagle Technologies, an India based provides a turnkey solution for businesses seeking an all-in-one solution to automated production and testing, about 60% of all occupations could automate at least 30% of their tasks. Automation will raise global productivity by 0. 8% to 1.4% annually. Increased adaptation of robots leads to greater employment more broadly across the economy, and by 2025, automation will lead to a net growth of 12 million jobs. Hence, the increasing automation in business and business processes will drive the market for SPM.
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What is the projected market size of the sales performance management industry, and how is it expected to grow?
The sales performance management market size has grown rapidly in recent years. It will grow from $7.11 billion in 2024 to $8.07 billion in 2025 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to adoption of customer relationship management (CRM) systems, emphasis on sales team productivity and efficiency, growth in sales force automation technologies, need for accurate sales performance measurement, increasing complexity in sales processes.
The sales performance management market size is expected to see rapid growth in the next few years. It will grow to $16.35 billion in 2029 at a compound annual growth rate (CAGR) of 19.3%. The growth in the forecast period can be attributed to emphasis on predictive analytics for sales forecasting, rise in remote and virtual sales teams, adoption of gamification for sales motivation, continued evolution of sales enablement tools, shift towards real-time performance feedback and coaching. Major trends in the forecast period include integration of artificial intelligence in sales performance management, integration of sales performance management with other business systems, focus on data-driven insights for sales strategy optimization, development of mobile-centric sales performance solutions, embrace of agile methodologies in sales operations.
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Who are the key players driving competition in the sales performance management market?
Major companies operating in the sales performance management market include SAP SE, Oracle Corporation, Xactly Corporation, Anaplan Inc., Varicent Software Inc., Beqom UK Limited, Salesforce Inc., Iconixx Software Corporation, International Business Machines Corporation, Callidus Software Inc., Gryphon Networks Corp., Cellarstone India Pvt Ltd., Zoho Corporation Pvt. Ltd., Microsoft Corporation, Optymyze Pte Ltd., NICE Ltd., Compensation Management Software, Synygy India Private Limited, Zoltners and Prabhakant Sinha, Merced Systems Ltd., Opensymmetry Private Limited, Aviso Inc., Altify Limited, Accent Technologies Inc., Revegy Inc., SalesLoft Inc., SalesHood Inc., Ambition Services Pvt. Ltd., Level Eleven LLC
What key trends are expected to drive the rugged display market during the forecast period?
Major companies operating in the SPM market are focused on developing new innovative solution such as metrics-driven sales capability building solution to strengthen their positionA metrics-driven sales capability building solution uses data-driven key performance indicators (KPIs) to enhance sales team skills and performance. It aligns sales efforts with business goals for measurable and sustainable growth. For instance, in May 2022, Richardson, a US-based sales training and performance improvement launched Accelerate Sales Performance System. The System empowers revenue leaders to enhance their teams’ effectiveness. It provides clarity by organizing team performance data, allowing businesses to benchmark seller performance and identify critical skill gaps. The system defines commercial excellence by linking performance metrics to observable behaviors, quantifying the cost of skill deficiencies. Additionally, it drives performance through personalized development experiences tailored to each seller’s role-based goals, utilizing Richardson’s best-in-class training methodology.
Which key geographies are driving the growth of the sales performance management market?
North America was the largest region in the SPM market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sales performance management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the key segments driving growth in the sales performance management market?
The sales performance management market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Organization: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
3) By Deployment: On-premises, Cloud
4) By Vertical: BFSI, Telecommunications, Manufacturing, Energy And Utilities, Consumer Goods And Retail, Healthcare And Pharmaceuticals, Other Verticals
Subsegments:
1) By Solutions: Sales Analytics Software, Sales Planning And Forecasting Tools, Incentive Compensation Management (ICM) Solutions, Territory Management Solutions, Performance Management Solutions
2) By Services: Consulting Services, Implementation Services, Training And Support Services, Maintenance And Upgradation Services
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What defines the structure and scope of the sales performance management market?
Sales performance management refers to a set of operational and analytical capabilities that automate and combine back-office operational sales operations, with the goal of increasing operational efficiency and effectiveness. Sales performance management is used to track sales performance and set up to meet or exceed the company’s revenue goals.
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