Sales Performance Management Market (Component - Software, and Services; Solution - Sales Forecasting, Sales Planning, Incentive Compensation Management, Sales Coaching, Talent Management, and Others; End-user - Retail, BFSI, Healthcare, Telecom & IT, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025. The global sales performance management market is projected to grow at a CAGR of 16.80% over the forecast period of 2019-2025.
Pune, India -- (SBWIRE) -- 03/28/2019 -- Our latest research report entitled Sales Performance Management Market (by component (software, services), solution (sales forecasting, planning, incentive compensation management, coaching, talent management, and others), end-user (retail, BFSI, healthcare, telecom & IT)) Global Industry Analysis, Trends, Size, Shares, Outlook, Forecasts to 2025 provides complete and deep insights into the market dynamics and growth of Sales Performance Management. Latest information on market risks, industry chain structure Sales Performance Management cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Sales Performance Management growth factors. The global sales performance management market is projected to grow at a CAGR of 16.80% over the forecast period of 2019-2025.
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Sales Performance Management Market: Industry Insights
Sales performance management is a procedure that helps organizations in guiding and monitoring salespeople to increase their ability to sell services or products. SPM is implemented to improve operational efficiency and effectiveness and timeliness of the associated administrative processes. SPM supports the business processes of incentive compensation management, quota & territory management, sales forecasting, and sales planning. SPM software typically includes components for skill development, feedback, goal setting and planning, and performance review.
Sales Performance Management Market: Drivers and Restraints
Improved sales performance and operational efficiencies with better management by using sales performance management solution is the major factor escalating the demand for sales performance management market. Moreover, extensive acceptance of sales performance management software and services among various industries such as BFSI healthcare, banking, and financial service institutions, retail and telecom & IT is also strengthening the growth of the market. Nowadays, sales performance management services and solution are broadly adopted by users to considerately enable sales quality maintenance and augment regulatory compliances through performance management in real-time. However, Data security risk is the major concern regarding sales performance management solution may restrain the growth of the market. Going further, rising demand to predict commission patterns inside an enterprise would offer lucrative growth opportunities for sales performance management market throughout the forecast period.
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Sales Performance Management Market: Segmentation
The global sales performance management market is bifurcated into component, solutions, and End-User. Based on the component, the market is divided into and services and software. Furthermore, the software segment is classified into On-premise and Cloud-based. Cloud-based sales performance management software deployment holds maximum share. This segment is driven by the high adoption of SPM solutions by organizations to augment the management of end-to-end business processes across each application. Moreover, the Services market is bifurcated into managed services and professional services. On the basis of solutions, the global market is categorized into sales forecasting, sales planning, incentive compensation management, sales coaching, quota & territory management, talent management, and many others. Based on end-user, the market is bifurcated into Retail, BFSI, Healthcare, Telecom & IT, Transportation and Logistics and many Others.
Sales Performance Management Market: Regional Insights
Among the region, North America holds the maximum share in the sales performance management market followed by Europe. The market is growing due to increased demand for SPM solutions from BFSI, retail and telecom & IT, healthcare, banking, and financial service institutions. The major consumer's electronics companies such as Google, SAP, Microsoft, and Oracle contribute to the demand for SPM in this region. The Asia Pacific is witnessing to be the highest growth rate in sales performance management marker during the forecast period. The countries such as India and China are major economies for fueling the APAC SPM market owing to its capability to improve the quality of the organizational structure.
Sales Performance Management Market: Competitive Analysis
Some of the prominent players in sales performance Management market are Callidus Software Inc., Altify, Xactly Corporation, Anaplan, Inc., Accent Technologies, Inc., SAP, IBM, Microsoft, Oracle, Silvon and Software Inc. These companies are leveraging on strategic collaborative initiatives to increase their market share and profitability.
Xactly Acquired Sales Performance Management Provider Obero
In February 2018 Xactly, a leading provider of cloud-based incentive solutions announced that it has acquired Obero, a growing sales performance management (SPM) company. With the acquisition, Xactly adds proven ASC 606 / IFRS 15, sales planning, and incentive management (ICM) capabilities to its market-leading enterprise SPM portfolio.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Sales Performance Management.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.