According to a recent report published by Allied Market Research, titled, “Sales Intelligence Market by Component, Deployment Model, Enterprise Size, Application, and Industry Verticals: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global sales intelligence market size was valued at $2.78 billion in 2020, and is projected to reach $7.35 billion by 2030, growing at a CAGR of 10.6% from 2021 to 2030.
Technology, tools, and techniques for gathering, integration, analysis, and display of data to help salespeople identify, monitor, and analyze data that offers insights into daily operations of prospects and current clients are referred to as sales intelligence. Furthermore, rapid adoption of advanced solutions for improved customer targeting propels growth of the global sales intelligence market. In addition, surge in demand for content optimization and data enrichment tools positively impacts growth of the market. However, variation in industry-specific requirements and data privacy and accuracy rate of company/client information hampers the market growth. On the contrary, infusion of AI and ML capabilities to automate pre-sales processes is expected to offer remunerative opportunities for expansion of the sales intelligence market during the forecast period.
Depending on application, the lead management segment holds the largest share of the market as it is helping businesses reduce the time spent manually segmenting and scoring lead lists and ensuring that only high-quality leads are forwarded on to the sales departments. However, the analytics & reporting segment is expected to grow at the highest rate during the forecast period, as sales managers and teams increasingly rely on data-driven insights to identify high- and low-performing products and services.
Region wise, the sales intelligence market size was dominated by North America in 2020, and is expected to retain its position during the forecast period, owing to expanding investments in new technologies such as AI and ML, expanding presence of sales intelligence providers, and increased government support for compliance with regulations. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to increasing technology investments. This leads to a growing demand for solutions in sales intelligence utilized for maintenance automation and customer conversion process, which propels the sales intelligence market in Asia-Pacific.
The outbreak of COVID-19 is anticipated to have a positive impact on growth of sales intelligence industry. This is attributed as industries around the world are focusing on boosting their overall sales by establishing their online presence. As a result, high amounts of unstructured data are generated every minute, which represents one of the key factors encouraging enterprises worldwide to integrate sales intelligence. In addition, sales intelligence to generate sales from social media posts, emails, live chats from quantitative insights. During the COVID-19 lockdown, the traffic on digital websites increased exponentially and sales intelligence helped attract customers to their sites which in turn boosted the growth of the market.
Key Findings Of The Study
- By component, the software segment accounted for the largest sales intelligence market share in 2020.
- Region wise, North America generated highest revenue in 2020.
- Depending on application, the lead management generated the highest revenue in 2020.
The key players profiled in the sales intelligence market analysis are Clearbit, Demandbase, Inc., Dun & Bradstreet Corporation, Data Axle, HG Insights, InsideView, LinkedIn Corporation, Oracle Corporation, ZoomInfo Technologies LLC, and Zoho Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.