Market Research Report
Sales Performance Management Global Market Report 2022
|Sales Performance Management Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
“Sales Performance Management Global Market Report 2022 ” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global sales performance management market.
This report focuses on sales performance management market which is experiencing strong growth. The report gives a guide to the sales performance management market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Where is the largest and fastest growing market for the sales performance management? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Sales performance management market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider sales performance management market, and compares it with other markets.
Markets Covered: 1) By Component: Solutions; Services
2) By Organization: Large Enterprises; Small and Medium-sized Enterprises (SMEs)
3) By Deployment: On-premises; Cloud
4) By Vertical: BFSI; Telecommunications; Manufacturing; Energy and Utilities; Consumer Goods and Retail; Healthcare and Pharmaceuticals; Other Verticals
Companies Mentioned: Oracle; Xactly; Anaplan; Varicent; beqom
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Major players in the SPM market are: SAP, Oracle, Xactly, Anaplan, Varicent, beqom, Salesforce, Iconixx, IBM Corporation, Callidus Software Inc., Gryphon Networks, CellarStone, Zoho Corporation Pvt. Ltd., and Microsoft Corporation.
The global SPM market is expected to grow from $4.77 billion in 2021 to $5.68 billion in 2022 at a compound annual growth rate (CAGR) of 19.3%. The SPM market is expected to reach $10.47 billion in 2026 at a CAGR of 16.5%.
The sales performance management (SPM) market consists of sales of the sales performance management solutions and services by entities (organizations, sole traders, and partnerships) that are used to track sales performance and set up to meet or exceed the company's revenue goals. SPM is a set of operational and analytical capabilities that automate and combine back-office operational sales operations, with the goal of increasing operational efficiency and effectiveness. The capabilities of SPM are incentives compensation management, quota management and planning, territory management, advanced analytics, and gamification.
The main types of SPM are solutions and services. The solutions for SPM refer to sales methodology where a salesperson holistically considers a prospect's needs. Some of the solutions used in sales are incentive compensation management (ICM), which is used in designing, implementing, and optimizing a strategic plan around sales commissions and incentives. The various organization sizes include large enterprises and small and medium-sized enterprises (SMEs), which are deployed on-premises, and in the cloud. It is employed in BFSI, telecommunications, manufacturing, consumer goods and retail, healthcare and pharmaceuticals, energy and utilities, and other verticals.
North America was the largest region in the SPM market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the SPM market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The SPM market research report is one of a series of new reports from The Business Research Company that provides SPM market statistics, including SPM industry global market size, regional shares, competitors with an SPM market share, detailed SPM market segments, market trends, and opportunities, and any further data you may need to thrive in the SPM industry. This SPM market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Increasing automation is expected to propel the growth of the SPM market going forward. Automation is a set of operational and analytical functions used to automate and combine back-office operational sales activities. Major players in the SPM market are: adopting automation processes to increase operational efficiency and effectiveness. For instance, according to Oracle Netsuite, a US-based computer software company, the number of organizations in the United States that have fully automated at least one function has risen to 31% in 2020. Also, 60% of US retailers implemented AI and automated processes in 2020, up from 35% during the prior year. Hence, the increasing automation in business and business processes will drive the market for SPM.
New product innovations have emerged as the key trend gaining popularity in the SPM market. Major companies operating in the SPM sector are focused on developing new innovative products to strengthen their position. For instance, in January 2021, Salesforce, a US-based cloud-based software company, launched Loyalty Management, a solution that allows companies to build intelligent loyalty programs for both B2B and B2C customers with a flexible, configurable, and quickly deployable solution that fits their specific needs across industries such as retail, consumer goods, manufacturing, travel, and hospitality. Companies can use this solution to develop more personalized customer experiences, change loyalty programs to meet changing customer expectations, and help generate business value by generating loyal, lifetime customers.
In October 2020, Varicent, a Canada-based software company, acquired the FunnelCake solution for an undisclosed amount. Through this acquisition, FunnelCake deepens Varicent's Salesforce.com integrations and expertise, resulting in better client outcomes. FunnelCake is a Canada-based company that helps businesses increase revenue at scale by enhancing lead and pipeline management performance.
The countries covered in the SPM market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.