DUBLIN--(BUSINESS WIRE)--The "Sales Intelligence Market by Component (Software and Services), Application (Lead Management, Data Management, Analytics and Reporting, and Others), Organization Size, Deployment Model, Vertical, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global sales intelligence market is proejcted to grow from USD 2 billion in 2019 to USD 3.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period.
The sales intelligence market comprises major providers, such as DiscoverOrg (US), Dun & Bradstreet (US), LinkedIn (US), Oracle (US), Demandbase (US), InsideView (US), Clearbit (US), HG Insights (US), LeadGenius (US), InfoGroup (US), UpLead (US), RelPro (US), DueDil (UK), EverString (US), RingLead (US), Gryphon Networks (US), List Partners (US), FullContact (US), Zoho (US), and Yesware (US). The study includes an in-depth competitive analysis of these key players in the sales intelligence market with their company profiles, recent developments, and key market strategies.
Rising focus of enterprises on improving connect rates, growing sales funnel, and enhancing sales productivity, to drive the adoption of sales intelligence software and services
The sales intelligence market is growing rapidly owing to factors such as the imminent need for advanced software to improve customer targeting and connect rates and growing demand for data enrichment software to improve sales conversions. However, the complexities of processes involved in maintaining data integrity would limit the growth of the market.
The cloud deployment model to grow at the highest CAGR during the forecast period
Sales and marketing departments of large enterprises and SMEs need to focus on their core competencies, rather than IT processes. Hence, they are increasingly moving toward cloud-based sales intelligence software. This software not only provides them with enhanced speed and scalability but also helps them save resources by eliminating time involved in managing huge data workloads to identify potential information on targets and leads. Furthermore, this software is well suited for organizations with a small IT budget, which is another driving factor for the growth of cloud deployment in the sales intelligence market.
IT and Telecom vertical to hold the largest market share in 2019 in the sales intelligence market
Due to rising competition and dynamic consumer demands, IT and telecom companies are thriving to retain existing customer base and increase market share. Due to this, these companies are increasingly investing in sales intelligence software to identify suitable customer segments and gain contextual information on their clients' and prospects' buying behaviour. This information enables IT and telecom companies to devise effective go-to-marketing strategies and provide personalized cross-sell and up-sell offers.
Sales intelligence market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period
The high growth of the market in the Asia Pacific (APAC) is attributed to the high economic growth, increasing penetration of internet, and mobile devices leading to inquisitiveness among the buyers about new technologies, increase in technology adaptation, and growing digital initiatives by government in the region. However, the lack of inadequate IT infrastructure and less awareness about the benefits of sales intelligence software are a few big hurdles in sales intelligence adoption across the region. Though, with increasing demand for automated software to improve sales productivity, the growth of sales intelligence market in the region is expected to increase rapidly in future.
The sales intelligence market revenue is primarily classified into revenues from software and services. Software revenue is associated with sales intelligence tools and software. Furthermore, services' revenue is associated with various consulting, integration and deployment, and training, maintenance, and support services. The market is also segmented on the basis of application, deployment model, organization size, vertical, and region.
Key Benefits of the Report
The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall sales intelligence market and the subsegments. This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report would also help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
- Imminent Need for Advanced Solutions to Improve Customer Targeting and Connect Rates
- Growing Demand for Data Enrichment Solutions to Improve Sales Conversions
- Complexities of the Processes Involved in Maintaining Data Integrity
- Infusion of AI and ML Capabilities to Automate the Pre-Sales Processes
- Increasing Use of Technographics to Identify Buying Intent and Improve Targeting
- Achieving 100% Accuracy of Company and Customer Contact Information
- Improving Sales Agility and Connect Rates Through Effective Data Consolidation and Data Cleansing
- Optimizing Marketing Database and Enriching Lead List to Enhance Sales and Marketing Productivity and Accelerate Revenue
Identifying Correct Leads for Improved Business Communication and Deal Closing Rates
- Dun & Bradstreet
- Gryphon Networks
- List Partners
For more information about this report visit https://www.researchandmarkets.com/r/a6x3ll