Sales Performance Management Market Exhibiting High Growth Prospects on the Back of Massive Investments in Predictive Analytics
This report provides an analysis of the global sales performance management market for the period of 2015 to 2025, wherein the period from 2017 to 2025 comprises the forecast period and 2016 is the base year. Data for 2015 is provided as historical information.
Albany, NY -- (SBWire) -- 06/22/2018 --SPM tools are highly useful for organizations to train and monitor their workforce pertaining to product sales and customer services. Sales performance management also helps in forecasting and achieving quota usually by focusing on processes and utilizes innovative tools to help individual sales and channel personnel. The SPM software are also used to track information about territories, sales quotas, incentive compensation, job forecasting and evaluation. Sales performance management services are broadly used in banking and financial service institutions, healthcare, telecom & IT, and retail among others.
According to a report by Transparency Market Research (TMR), the global sales performance management (SPM) market is prognosticated to flourish with a robust CAGR of 17.1% within the forecast period from 2017 to 2025. In 2017, the SPM market was evaluated at around worth of US$2,296.0 mn. This figure is likely to soar around US$8,138.1 mn by the end of 2025, looking at the lucrative opportunities in coming years. On the basis of solution type, the sales performance market is dominated by sales planning solutions and sales forecasting segments. Geographically, North America was anticipated to be the most lucrative region for the key players leading the global sales performance management market, with a worth of around US$887.3 mn, trailed by Europe. This is due to increased rate of adoption of SPM among the end users for example BFSI and telecom and IT one of the main factor behind the growth of these region, with heavy demand for SPM technology.
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The report covers all the major trends and technologies playing a major role in the growth of the sales performance management market over the forecast period. It also highlights various drivers, restraints and opportunities expected to influence the market's growth during the said period. The study provides a holistic perspective on the market's growth in terms of revenue in US$ Mn, across different geographical regions namely North America, Europe, Asia Pacific, Middle East & Africa and South America.
The market overview section of the report showcases the market dynamics and trends such as the drivers, restraints and opportunities that influence the current nature and future status of this market. The report also provides ecosystem analysis and key market indicators for the sales performance management market. The sales performance management market data estimates are the result of our in-depth secondary research, primary interviews and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological and legal factors along with the current market dynamics affecting the market growth.
Global Sales Performance Management Market: Research Methodologies
Sales performance management software is used to provide a mechanism for guiding and monitoring sales representatives (reps) in order to better mentor the best practices of the sales organization, manage performance of individuals, motivate behaviors and improve sales reps ability to sell, by associating performance and revenue analytics together. At present, companies are unceasingly accepting the tools which helps in building and enhancing the sales and productivity of an organizations. This is impelling the demand for sales performance management solution across various end-use industry such as BFSI, healthcare and telecom & IT across the world.
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Global Sales Performance Management Market: Segmentations
Sales performance management market is bifurcated by component, solution and end-use Industry. By component, the global sales performance management market is segmented into software and services. Software segment is further categorized into on-premise and cloud-based. Among these, cloud-based sales performance management software deployment is the major segments which are expected to fuel the growth of this market over the forecast period. Furthermore, services segment is further categorized into managed services and professional services. Based on solution type, the sales performance management market is segmented into incentive compensation management, sales planning, sales forecasting, sales coaching, quota & territory management, talent management, others. Further, the others segment includes gamification, sales analytics, sales reporting, etc. Among these solution, sales forecasting and sales planning solutions are the key segment which are expected to enhance the growth of sales performance management market around the globe. On the basis of end-use industry, the global market is bifurcated into banking, financial services and insurance (BFSI), retail, healthcare, telecom & IT and others. Further, the other segment includes manufacturing, transportation and logistics, etc.
Global Sales Performance Management Market: Competitive Landscape
The report also includes competitive profiling of the key players associated with the sales performance management market around the globe. The important business strategies adopted by them, their market positioning, financials, SWOT analysis and recent developments have also been identified in the research report. The competitive landscape section of the report also gives an overview about the major contributing regions/countries by these key players in order to strengthen their market position in the future.
Some of the major players in global sales performance management market are Accent Technologies, Inc., Altify, Xactly Corporation, Anaplan, Inc., Callidus Software Inc., Entomo, Inc., Hybris AG, IBM Corporation, Microsoft Corporation, Oracle Corporation, Silvon Software Inc., and The Aberdeen Group. Details such as financials, business strategies, SWOT analysis, recent developments, and other such strategic information pertaining to these players has been duly provided as part of company profiling.
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Sales Performance Management Market, by Component
Sales Performance Management Market, by Solution
Incentive Compensation Management
Quota & Territory Management
Others (sales analytics, sales reporting, etc.)
Sales Performance Management Market, by End-use Industry
Telecom & IT
Others (Manufacturing, Logistics, etc.)
In addition, the report provides analysis of the Sales Performance Management Market with respect to the following geographic segments:
Rest of North America
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East and Africa (MEA)
Rest of MEA
Rest of South America
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