Sales Force Automation Software Market Overview:
Global Sales Force Automation Software Market was valued at $3,872 million in 2016, and is estimated to reach $7,773 million by 2023, growing at a CAGR of 10.6% from 2017 to 2023. Sales force automation software enables industries to automatically manage account information, customer database, and order & invoices, and tracks the system on a real-time basis. This software provides lead management, sales forecasting, opportunity management, and others (contact management, relationship management, and analytics). The global sales force automation software market is expected to witness significant growth rate, due to the rise in demand for streamlining sales process and effective utilization of workforce across the developed & developing regions, including North America, Europe, and Asia-Pacific.
The Asia-Pacific sales force automation software market is expected to register the highest CAGR during the forecast period. Small & medium (SMEs) scale and new startups are increasingly investing in this market to personalize and consolidate customer communication from various channels such as blogs, social media, and other online portals, which drives the growth of the sales force automation software market. In addition, the developing countries such as China, India, and Japan are investing hugely in sales process automation, which is expected to offer lucrative opportunities for market expansion. Moreover, increase in internet penetration and improvement in mobile technology are the key drivers for the growth of the Asia-Pacific sales force automation software market.
Increase in demand for lead management and opportunity management fuels the demand for sales force automation software, thereby supplementation the market growth across North America and Europe. However, LAMEA is expected to account for the least share in the global market as compared to other regions, due to low ICT expenditure and software localization issues related to features such as name & addresses. Furthermore, Middle East & Africa are expected to gain traction due to increase in investment in IT infrastructures. However, lack of awareness towards the software and dearth of skilled professionals required for installations related to the software are expected to restrain the sales force automation software market growth during the forecast period.
Sales Force Automation Software Market Segmentation
The global sales force automation software market is segmented on the basis of application, deployment type, industry vertical, and geography. The applications covered in the study include lead management, sales forecasting, order & invoices management, opportunity management, and others. By deployment type, the market is bifurcated into cloud and on-premise. Based on industry vertical, it is divided into healthcare, retail, telecom, food & beverages, BFSI, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the report are Aptean, Bpmonline, Infusionsoft, Infor, Oracle (NetSuite Inc.), Pegasystems, SAP SE, Salesforce.com, Inc., SugarCRM, and Zoho Corporation. The report includes the key strategies adopted by these players and the detailed analysis of the current trends, upcoming opportunities, and restraints in the global sales force automation software market in addition to their impacts.
Top Impacting Factors
Increase in Need to Streamline the Sales Processes
Sales process involves multiple activities such as lead management, quote management, customer relationship management, and analytics. Thus, the use sales process automation software increases business productivity and reduces the chances of errors, which is expected to boost the growth of the sales force automation software market in the near future.
Rise in Need for Tracking Mechanism
Rise in need to monitor the sales progress and performance such as discounts offered, order status, customer feedbacks & complaints, and others is the major driving factor of the sales force automation software market.
Growth in Data Security & Privacy Concerns
The loss of data related to sales estimates, client details, and price-sensitive information can cause business risks, owing to increase in cyber-attacks, malware, and hackers. Thus, rise in need for effective management boosts the adoption of sales force automation software, thereby fueling the market growth.
Surge in Need for Business Intelligence & Insights
The emergence of social media, blogs, and other online portals are significant sources of consumer behavior and current trends in the market. With the sales force automation software, a company can monitor the pattern and insights related to consumer behavior and their inclination towards particular brand or product.
Emerging Innovation in the Field of Mobile Telecommunications Technology
Increase in smartphone penetration and rise in adoption of 4G & 5G mobile technology enable easier configuration, usage, and upgradation of data related to the sales force automation applications based on different apps such as windows, android, and iOS, which are expected to drive the sales force automation software market growth in the future.
- In-depth analysis and dynamics of the global sales force automation software market are provided to understand the market scenario.
- Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on the prevailing market opportunities.
- Porter’s Five Forces analysis examines the competitive structure and provides a clear understanding of the factors that influence market entry and expansion.
- A detailed analysis of the geographical segments enables the identification of profitable segments for market players.
- Comprehensive analysis of the trends, subsegments, and key revenue pockets of sales force automation software market is provided.
Sales Force Automation Software Market Key Segments:
- Lead Management
- Sales Forecasting
- Order & Invoices Management
- Opportunity Management
- Others (Email Integration, Contact Management, Analytics, and Relationship Management)
By Deployment Type
By Industry Vertical
- Food & Beverages
- Others (Consumer Goods and Logistics)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA