LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global lead management software market predicts a CAGR of more than 17% during the period 2018-2022.
The report segments the global lead management software market by end-user (established businesses, startup businesses, and non-profit) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global lead management software market, according to Technavio ICT researchers:
- Growing need for large-scale client management: a major market driver
- Emergence of cloud-based solutions: emerging market trend
- The Americas dominated the global lead management software market with around 45% share in 2017
- In 2017, the established businesses sector held the largest share of the market
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Growing need for large-scale client management: a major market driver
The growing need for large-scale client management is one of the major factors driving the global lead management software market. The demand for lead management software has become a vital factor in the recent market scenario. The most substantial change in the global lead management software market is the change in the company's perception toward cultivating and managing customer relationships that is very important for effective marketing campaigns, sales, and repeat business. This growing demand for large-scale client management is leading to automation and increasing the penetration of lead management software in the market.
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Emergence of cloud-based solutions: emerging market trend
At present, one of the most substantial demands in the market scenario is that of cloud-based solutions that have led to the increase in cloud-integrated lead management software. Cloud-based lead management software generally provides access to the application through web-based browsers. In this case, the admin would have previously defined the access level across the organization, thereby allowing the user to log into the lead management system from any internet-enabled computer or device. Cloud-based lead management software usually provides users with mobile apps to make it easier to use the software on smartphones and tablets.
According to a senior analyst at Technavio for research on enterprise application, “One of the benefits of lead management software deployed in the cloud is the scalability. A cloud-based system is designed to be flexible with expanding capacity such that a business can scale up or down their lead management software depending on the current business requirements. Typically, the cost of the lead management software that is often based on the number of users and storage requirements also scales up and down as per the change in conditions.”
Global market opportunities
In 2017, the Americas accounted for around 45% of the market share in the global lead management software market, and it is expected to dominate the market during the forecast period. The US and Canada are the highest revenue-contributing markets for lead management software. The increasing demand for a cloud-based solution, crowdsourcing, and social interaction will be the key factors that will drive the growth of the global lead management software market.
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