The global sales performance management market size is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the growing awareness about its ability to reduce processing time and error at a significant rate. Moreover, tracking number of client conversations effectively is driving the market growth.
Sales performance management (SPM) is a set of operational and analytical functions that automate and unite back-office operational sales processes to improve operational efficiency and effectiveness. SPM capabilities include incentive compensation management, quota management and planning, territory management, and advanced analytics.
SPM strategies and tools are used by sales leaders to enhance the efficiency and effectiveness of respective organization’s sales teams. Putting a complete sales performance management strategy into place can be complicated. A sales strategy contains many interlocking parts, each of which influences the others. Thus, deploying SPM reduces the sales leader efforts. Account segmentation, incentive compensation, territory planning, quota setting, pipeline optimization, and forecasting are some of the tools a sales leader uses to assess and manage the sales department.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing demand for sales metrics solutions is one of the major drivers that is contributing to the growth of the global sales performance management market.
- Rising adoption of technology technologies is expected to augment the market growth.
- The presence of substitutes for SPM solutions can restraint the growth of the market.
- Complications involved in deployment such as the time taken for the implementation and required training for the usage of software solution can hinder the market growth.
- Growing demand for customizable and streamlined system to manage and offer analytics based on the sales performance is anticipated to create remunerative opportunities for the industry players in the projected timeline.
Scope of the Sales Performance Management Market Report
The report on the global sales performance management 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
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Details
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Report Title
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Sales performance management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Solutions (Incentive Compensation Management, Territory Management, Sales Analytics), Deployments (On-premise, Cloud), Services (Professional Services, Managed Services), End-user Verticals (BFSI, Manufacturing, Energy and Utility, and Healthcare)
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Regional scope
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North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
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Report Coverage
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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
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Oracle Corporation, IBM Corporation, Xactly Corporation, SAP SE, and Salesforce.com Inc.
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Sales Performance Management Market Segment Insights:
Sales Analytics segment to grow at a rapid pace
Based on solutions, the market is divided into incentive compensation management, territory management, sales analytics. The sales analytics segment is anticipated to account for a key share and is anticipated to grow at a rapid rate owing to its wide usage in identifying, modeling, understanding, and predicting sales trends and outcomes, while aiding sales management by providing insights on the performance of a salesperson.
Cloud segment to account a major market share
Based on deployments, the market is divided into on-premise and cloud. The cloud segment is anticipated to account for a major market share due to its flexibility, economical nature, agility and scalability. On the other hand, the on-premise segment is anticipated to grow at a sluggish rate by end of the forecast period.
Managed services segment to account a significant market share
Based on services, the market is divided into professional services and managed services. The managed services segment is anticipated to account for a significant market share during the forecast period. This type of service providers offers 24-hours customer service on the downgrade of server and helps in troubleshooting the software. Managed services also perform maintenance tasks and aids in keeping the software to run smoothly.
Manufacturing segment to account a considerable market share
Based on end user verticals, the market is classified as BFSI, manufacturing, energy and utility, and healthcare. The healthcare segment is expected to account for a considerable major share in the projected timeline. Increasing number of pharmaceutical companies and growing demand for medical devices owing to the rising burden on the healthcare sector are driving the growth of the market segment.
North America to hold a large market share
On the basis of regions, the market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America to hold a large market share during the forecast period. The region is well known for major consumer electronics and software giants in the world, such as Google, Microsoft, SAP, and Oracle. Moreover, companies actively contribute to the demand for SPM in the region as they invoke severe marketing strategies to gain clients from all over the world.
Segments
The global sales performance management have been segmented on the basis of
Solutions
- Incentive Compensation Management
- Territory Management
- Sales Analytics
Deployments
Services
- Professional Services
- Managed Services
End-user Verticals
- BFSI
- Manufacturing
- Energy and Utility
- Healthcare
Regions
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Players
Competitive Landscape
The major players of the market are Oracle Corporation, IBM Corporation, Xactly Corporation, SAP SE, and Salesforce.com Inc. Companies are investing in research and developments, and focusing on joint ventures and acquisitions to expand their market share.
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