Sales Force Automation Software Market Size, Forecast [2031]
Sales Force Automation Software Market Size, Forecast [2031]
Segments - Sales Force Automation Software Market by Applications (Opportunity Management, Lead Management, Order & Invoices Management, Sales Forecasting, and Others), Deployments (On-premise and Cloud), Enterprise Sizes (Small & Medium Enterprises and Large Enterprises), End-users (Manufacturing, BFSI, IT & Telecommunication, Retail, Healthcare, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :ICT-SE-2281
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Report Description
The global sales force automation software market size was valued at USD 6.86 billion in 2022 and is projected to reach USD 18.27 billion by 2031, expanding at a CAGR of 11.5% between 2023 and 2031. The growth of the market is attributed to the growing demand for sales forecasting applications in the IT & telecommunication, banking, and retail sectors all around the world.
Sales force automation (SFA) is a commercial approach used to automate the processes without the intervention of humans. Furthermore, the software automate the processes based on specific inputs.
For example, if leads don't answer to an initial email after a specified number of days, it can be sent follow-up emails based on a pre-defined template. Additionally, the program can be configured so that a single action done by a member of the sales team results in the completion of multiple tasks.
Moreover, SFA has the advantage of many unique capabilities such as order processing, information exchange among salespeople, maintaining client contact information, control and recording, inventory management, sales forecasting, order tracking, and employee evaluation. In addition, SFA software captures a massive amount of data from many client touchpoints and makes it available to multiple devices in a cloud implementation.
Due to the COVID-19 pandemic outbreak all around the world, many governments imposed travel bans, shutdowns, and quarantine procedures in order to prevent virus spread. These restrictions have had a negative impact on economies and industries in all sectors across globe. However, the use of SFA solutions is expected to upsurge in the coming years with the relaxing of constraints.
Market Trends, Drivers, Restraints, and Opportunities
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Growing use of machine learning (ML), artificial intelligence (AI), and deployment of cloud technology across business verticals are some of the key factors propelling the market growth.
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Increasing need for tracking mechanism and growing need for streamline in the sales processes are fueling the market expansion in the coming years.
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Rising implementation of cloud based solutions by various small & medium enterprises is estimated to upsurge the market growth.
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Lack of trained professionals and increasing data & security concern are some of the key restraining factors challenging the market expansion in the coming years.
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Growing smartphone penetration along with the increasing adoption of 5G mobile technology for smoother configuration and ongoing upgradation of data related to the sales force automation applications are anticipated to offer tremendous opportunity for market during the forecast period.
Scope of the Report
The report on the global sales force automation software market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Sales Force Automation Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Applications (Opportunity Management, Lead Management, Order & Invoices Management, Sales Forecasting, and Others), Deployments (On-premise and Cloud), Enterprise Sizes (Small & Medium Enterprises and Large Enterprises), and End-users (Manufacturing, BFSI, IT & Telecommunication, Retail, Healthcare, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
SugarCRM; Salesforce.com, Inc.; CRMNEXT; Microsoft; INFOR; SAP SE; Oracle; Zoho Corp. Pvt. Ltd; Aptean; and Bpm'online. |
Market Segment Insights
Lead management segment is expected to grow at a rapid pace
Based on applications, the global sales force automation software market is segregated as opportunity management, lead management, order & invoices management, sales forecasting, and others.
The lead management segment is expected to grow at a rapid pace during the forecast period, owing to the various capabilities such as users can improve, allocate, and track leads from start to finish in order to transform them into eligible opportunities.
Furthermore, it enables campaign optimization across all market channels such as web, email, social media, SMS, and in-person mobile on a single unified platform, allowing for rapid and smart decisions.
However, the sales forecasting segment is estimated to gain a large revenue share in the coming years due to the growing implementation of big data analytics, artificial intelligence, and machine learning across business verticals in order to develop the sales force software.
Furthermore, sales forecasting offers users a real-time view of data for previous and current sales trends along with the accurate forecasts that assist the company to capitalize on growth prospects.
Cloud segment is estimated to gain a large revenue share
Based on deployments, the market is bifurcated into on-premise and cloud. The cloud segment is estimated to gain a large revenue share during the forecast period, owing to the advantages of cloud technology in terms of flexibility, scalability, and security.
Furthermore, cloud computing has helped organizations in integrating client data across multiple platforms, including lead generation, marketing, sales, customer service, and business analytics. In addition, large corporations are also investing extensively in the installation of cloud-based automation technology.
Moreover, cloud computing is assisting businesses in being more effective and the combination of clouds and analytics is assisting businesses in processing, storing, and interpreting data to fulfil the demands of their customers. Additionally, cloud computing and analytics provide tremendous potential for gaining insights into productivity, customer behavior, and customer experience. Thus, aforementioned factors are up surging the segment growth.
Large enterprises segment is expected to account for a major market share
On the basis of enterprise sizes, the global sales force automation software market is divided into small & medium enterprises and large enterprises. The large enterprises segment is expected to account for a major market share during the forecast period, owing to the rising use of data analytics in SFA in order to take effective decisions, explore insights into deal opportunities, and enhance growth strategies by sales expert.
Furthermore, the increasing complexity of the corporate environment along with the growing need for making the sales process more customer-centric by bringing the customer closer through multiple marketing channels is expected to boost the segment growth.
However, the small & medium enterprises segment is projected to expand at a substantial CAGR during the forecast period due to the availability of various pricing alternatives. Furthermore, increasing adoption of sales force automation for lead management and forecasting is fueling the segment growth.
Moreover, monitoring and reducing expenses, removing overheads, and providing individualized services to clients are the top priorities for businesses implementing the program. In addition, SFA solutions are expected to meet the needs of organizations in order to increase efficiency and productivity while remaining competitive in the market.
BFSI segment is projected to expand at a considerable CAGR
On the basis of end-users, the market is segregated as manufacturing, banking financial services and insurance (BFSI), IT & telecommunication, retail, healthcare, and others.
The banking financial services and insurance segment is projected to expand at a considerable CAGR during the forecast period due to the easier supervision of several operations such as opportunity management, lead management, customer relationship management, order & invoice administration, and analytics. It further helps the businesses in the retail and baking services sectors in increasing productivity.
Moreover, the solution provides retailers with numerous features such as customizable interface for better solution management, comprehensive report generation, reduced time complexity, overhead costs, comprehensive set of graphical and visual tools for expert data analysis, and centralization of essential information are boosting the segment growth.
North America is anticipated to constitute a key market share
In terms of regions, the global sales force automation software market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period, owing to the growing investments by key players for sales automation in various verticals.
Furthermore, the close ties with the leading companies and simple access to AI based sales force automation applications are expected to fuel the market growth in the region.
However, the market of Asia Pacific is estimated to account for a major market share in the coming years due to the increasing banking and financial services, retail, and IT and telecommunication sectors across geographies. Furthermore, rising investment in the software development by large enterprises across business verticals is expected to upsurge the market growth in the region.
Segments
The global sales force automation software market has been segmented on the basis of
Applications
- Opportunity Management
- Lead Management
- Order & Invoices Management
- Sales Forecasting
- Others
Deployments
- On-premise
- Cloud
Enterprise Sizes
- Small & Medium Enterprises
- Large Enterprises
End-users
- Manufacturing
- BFSI
- IT & Telecommunication
- Retail
- Healthcare
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- SugarCRM
- Salesforce.com, Inc.
- CRMNEXT
- Microsoft
- INFOR
- SAP SE
- Oracle
- Zoho Corp. Pvt. Ltd
- Aptean
- Bpm'online
Competitive Landscape
Some of the major players competing in the global sales force automation software market are SugarCRM; Salesforce.com, Inc.; CRMNEXT; Microsoft; INFOR; SAP SE; Oracle; Zoho Corp. Pvt. Ltd; Aptean; and Bpm'online.
These major players are involved in various marketing strategies such as long-term strategic collaborations, mergers & acquisitions, and partnership with stakeholders in order to sustain a large revenue share in the market.
For example, Salesforce.com, Inc. acquired Tableau Software, an analytics platform company, in August 2019. With this purchase, the company is better positioned to help businesses across globe to accelerate the digital transformation by allowing them to tap into data and achieve customer insights to make better decisions. It further improves customer experiences, and accelerate innovation.
On the other hand, Oracle introduced new AI and machine learning-driven enhancements for its suite of sales tools in March 2019. This was done to improve marketing and sales productivity by using artificial intelligence to speed up the manual operations while taking advantage of all the data available in current sales and marketing.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Sales Force Automation Software Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Sales Force Automation Software Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Sales Force Automation Software Market - Supply Chain
4.5. Global Sales Force Automation Software Market Forecast
4.5.1. Sales Force Automation Software Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Sales Force Automation Software Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Sales Force Automation Software Market Absolute $ Opportunity
5. Global Sales Force Automation Software Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Sales Force Automation Software Market Size and Volume Forecast by Applications
5.3.1. Opportunity Management Lead Management Order & Invoices Management Sales Forecasting Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Sales Force Automation Software Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Sales Force Automation Software Market Size and Volume Forecast by End Users
6.3.1. Manufacturing BFSI IT & Telecommunication Retail Healthcare Others
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Sales Force Automation Software Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Sales Force Automation Software Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Sales Force Automation Software Demand Share Forecast, 2019-2026
8. North America Sales Force Automation Software Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Sales Force Automation Software Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Sales Force Automation Software Market Size and Volume Forecast by Applications
8.4.1. Opportunity Management Lead Management Order & Invoices Management Sales Forecasting Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. North America Sales Force Automation Software Market Size and Volume Forecast by End Users
8.7.1. Manufacturing BFSI IT & Telecommunication Retail Healthcare Others
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Sales Force Automation Software Demand Share Forecast, 2019-2026
9. Latin America Sales Force Automation Software Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Sales Force Automation Software Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Sales Force Automation Software Market Size and Volume Forecast by Applications
9.4.1. Opportunity Management Lead Management Order & Invoices Management Sales Forecasting Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Latin America Sales Force Automation Software Market Size and Volume Forecast by End Users
9.7.1. Manufacturing BFSI IT & Telecommunication Retail Healthcare Others
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Sales Force Automation Software Demand Share Forecast, 2019-2026
10. Europe Sales Force Automation Software Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Sales Force Automation Software Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Sales Force Automation Software Market Size and Volume Forecast by Applications
10.4.1. Opportunity Management Lead Management Order & Invoices Management Sales Forecasting Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Europe Sales Force Automation Software Market Size and Volume Forecast by End Users
10.7.1. Manufacturing BFSI IT & Telecommunication Retail Healthcare Others
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Sales Force Automation Software Demand Share Forecast, 2019-2026
11. Asia Pacific Sales Force Automation Software Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Sales Force Automation Software Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Sales Force Automation Software Market Size and Volume Forecast by Applications
11.4.1. Opportunity Management Lead Management Order & Invoices Management Sales Forecasting Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Asia Pacific Sales Force Automation Software Market Size and Volume Forecast by End Users
11.7.1. Manufacturing BFSI IT & Telecommunication Retail Healthcare Others
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Sales Force Automation Software Demand Share Forecast, 2019-2026
12. Middle East & Africa Sales Force Automation Software Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Sales Force Automation Software Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Sales Force Automation Software Market Size and Volume Forecast by Applications
12.4.1. Opportunity Management Lead Management Order & Invoices Management Sales Forecasting Others
12.5. Basis Point Share (BPS) Analysis by Applications
12.6. Y-o-Y Growth Projections by Applications
12.7. Middle East & Africa Sales Force Automation Software Market Size and Volume Forecast by End Users
12.7.1. Manufacturing BFSI IT & Telecommunication Retail Healthcare Others
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Sales Force Automation Software Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Sales Force Automation Software Market: Market Share Analysis
13.2. Sales Force Automation Software Distributors and Customers
13.3. Sales Force Automation Software Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. SugarCRM Salesforce.com, Inc. CRMNEXT Microsoft INFOR SAP SE
Methodology
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