PUBLISHER: The Business Research Company | PRODUCT CODE: 1436659
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436659
Sales intelligence encompasses a range of tech solutions providing data to salespeople, aiding sales and marketing teams in identifying, analyzing, and utilizing data for potential customers. It is instrumental in understanding consumer behavior and targeting the audience with products that meet their requirements.
The primary components of sales intelligence are software and services. Software solutions enhance the quality and quantity of sales leads by utilizing internal and external data to identify new opportunities. Sales intelligence is deployed on-premises and in the cloud, catering to organizations of various sizes, including large enterprises and small-medium enterprises (SMEs). It is applied for lead management, data management, analytics and reporting, among other purposes, in industries such as BFSI, IT and telecom, healthcare and life sciences, consumer goods and retail, media and entertainment, and others.
The sales intelligence market research report is one of a series of new reports from The Business Research Company that provides sales intelligence market statistics, including sales intelligence industry global market size, regional shares, competitors with a sales intelligence market share, detailed sales intelligence market segments, market trends and opportunities, and any further data you may need to thrive in the sales intelligence industry. This sales intelligence market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The sales intelligence market size has grown rapidly in recent years. It will grow from $3.31 billion in 2023 to $3.69 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth observed in the historic period can be attributed to increased competition in sales, a rise in the demand for customer insights, a focus on targeted marketing, the expansion of account-based marketing, and efforts to improve sales productivity.
The sales intelligence market size is expected to see rapid growth in the next few years. It will grow to $5.98 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The anticipated growth in the forecast period can be attributed to the integration with customer relationship management (CRM), an increased emphasis on social selling, a shift towards remote and virtual selling, and a heightened focus on data security and compliance. Major trends expected in the forecast period include personalization and hyper-targeting, the integration of sales enablement, analytics for social selling, continuous learning and training initiatives, and the utilization of voice and conversational analytics.
The sales intelligence market is experiencing growth propelled by the surge in demand for content optimization and data enrichment tools. Businesses are utilizing data enrichment solutions to maximize data, opening new marketing opportunities and improving client targeting. The demand for content optimization is evident, with over 1.3 million businesses and organizations benefiting from Google's advertising solutions, as reported by iMpact Learning Center. This increasing demand for content optimization drives the sales intelligence market.
The sales intelligence market is witnessing growth propelled by increasing investments in artificial intelligence (AI). Investments in AI involve allocating financial resources towards the development, research, and application of AI technologies across various industries. Microsoft's allocation of A$5 billion in Australia for AI and cloud computing capabilities is indicative of this trend. Growing investments in AI enhance sales intelligence, leading to improved decision-making and higher conversion rates.
The infusion of AI and ML capabilities to automate the pre-sales process is a prevalent trend. NielsenIQ BASES, a US-based new product and innovation development company, introduced BASES Creative Product AI in September 2022. This artificial intelligence engine, comprising 100 models and algorithms, enables the testing, screening, and optimization of product formulations, providing companies with opportunities to automate and improve their pre-sales and sales processes.
Major companies in the sales intelligence market are concentrating on developing advanced AI-integrated solutions to enhance predictive analytics and streamline sales processes for maximum efficiency and accuracy. In November 2023, Salesforce Inc., a US-based customer relationship management (CRM) company, launched Sales Cloud featuring the integrated AI assistant Copilot for Sales. These innovations aim to empower sales representatives, leaders, and operational teams, facilitating quicker sales processes, elevated seller productivity, and increased business revenue through AI-driven tools for tasks such as meeting summaries, email creation, and real-time data connections.
In July 2021, ZoomInfo Technologies Inc., a US-based software and data company providing information for companies and business individuals, acquired Chorus.ai for $575 million. This acquisition aligned with ZoomInfo Technologies Inc.'s goal of supporting salespeople in finding, connecting with, and selling to decision-makers at businesses likely to purchase their goods and services. Chorus.ai, based in the US, operates in sales analytics.
Major companies operating in the sales intelligence market report are Oracle Corporation, LinkedIn Corporation, Dun & Bradstreet Corporation, Zoho Corporation, ZoomInfo Technologies LLC, InfoGroup Inc., Outreach Inc., Data Axle LLC, Cloudera Inc., Demandbase Inc., HG Insights Inc., LeadGenius Inc., Showpad Inc., SalesIntel LLC, LeanData Inc., InsideView Corporation, DueDil Limited, Conversica Corporation, FullContact LLC, List Partners Inc., Velocify LLC, DiscoverOrg LLC, Clearbit Inc., UpLead Corporation, EverString Corporation, Relationship Capital Partners Inc., Gryphon Networks Corporation, RelPro LLC, InsightSquared Inc., RingLead Inc.
North America was the largest region in the sales intelligence market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the sales intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the sales intelligence market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The sales intelligence market includes revenues earned by entities by personalizing the sales strategy, enriching and cleaning the existing customer data. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Sales Intelligence Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on sales intelligence market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for sales intelligence ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The sales intelligence 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.