Global Sales Performance Management Market to Reach US$ 16.5 Billion by 2032, Propelled by the Extensive Adoption in Various Industry Verticals

August 01, 2022 | Technology & Media

The latest report by IMARC Group, titled “Sales Performance Management Market Report by Solution (Territory Management, Sales Analytics, Sales Planning and Monitoring, Incentive Compensation Management, and Others), Services (Consulting Services, Managed Services, Training and Support, and Others), Organization Size (Small and Medium-sized Enterprises, Large Enterprises), Deployment Model (On-premises, Cloud-based), End User (BFSI, IT and Telecom, Retail, Energy and Utilities, Travel and Hospitality, Transportation and Logistics, Healthcare, and Others), and Region 2024-2032”, finds that the global sales performance management market size reached US$ 4.9 Billion in 2023. Sales Performance Management (SPM) is a set of analytical and operational functions that assist in automating and uniting back-office operational sales procedures. These functions are designed to automate numerous areas of the corporate performance management processes and encourage sales-oriented performance alongside. It focuses on various aspects, including insights, sales performance, forecasting, gamification, advanced analytics, and quota setting. In recent years, sales performance management has gained momentum due to its extensive adoption in various organizations to enhance their operational efficiency and effectiveness.

Global Sales Performance Management Market Trends:

One of the primary factors driving the market is the widespread application of SPM solutions during the outbreak of the coronavirus disease (COVID-19) and subsequent restrictions imposed in various nations. SPM solutions allow organizations to automate their business operations and adapt to remote working conditions with the least disruption. Additionally, SPM solutions enable enterprises to design roadmaps for the business and implement strategies efficiently. This also helps them to grow and boosts the acceleration in the rapidly changing market conditions. Other than this, SPM aids in increasing revenue, optimizing planning, enhancing decision-making and sales agility, and predicting sales, thus creating a positive market outlook. Apart from this, there is widespread utilization of SPM solutions in the banking, financial services, and insurance (BSFI) sector to cater to the challenges of complex credit assignments, high transaction counts, and developing expense models. Furthermore, the augmenting demand for a symbiotic alliance between sales executives and their prospects has catalyzed market growth. Moreover, the extensive adoption of SPM solutions in hospitals to structure and monitor goals information and the rising need for healthcare services are creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 16.5 Billion by 2032, expanding at a CAGR of 14% during the forecast period (2024-2032).

Market Summary:

  • Based on the solution, the market has been divided into territory management, sales analytics, sales planning and monitoring, incentive compensation management, and others.
  • On the basis of the services, the market has been classified into consulting services, managed services, training and support, and others.
  • Based on the organization size, the market has been categorized into small and medium-sized enterprises, and large enterprises.
  • On the basis of the deployment model, the market has been segmented into, on-premises, and cloud-based.
  • Based on the end user, the market has been divided by BFSI, IT and telecom, retail, energy and utilities, travel and hospitality, transportation and logistics, healthcare, and others.
  • Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been analyzed, with some of the key players being Anaplan Inc., Axtria Inc., beqom SA, Iconixx Software Corporation, International Business Machines (IBM) Corporation, Microsoft Corporation, NICE Ltd., Oracle Corporation, Inc., SAP SE and Xactly Corporation.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Solution, Services, Organization Size, Deployment Model, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Anaplan Inc., Axtria Inc., beqom SA, Iconixx Software Corporation, International Business Machines Corporation, Microsoft Corporation, NICE Ltd., Oracle Corporation, Inc., SAP SE and Xactly Corporation
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Sales Performance Management Market to Reach US$ 16.5 Billion by 2032, Propelled by the Extensive Adoption in Various Industry Verticals
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