SALES ACCELERATION SOFTWARE MARKET ANALYSIS

Businesses utilize a set of tactics called sales acceleration to more quickly move leads through the sales funnel. Most of those tactics in today's environment include sales software. Databases, research tools, tracking technologies, and analytics capabilities are all part of this technology, which speeds up the sales process and enables sales representatives to close more deals in a shorter amount of time.

Activity trackers can be integrated into your CRM (Customer Relationship Management) automation platform by sales acceleration software, giving you access to all the data you require in a single location. This enables representatives and management to spot patterns for increasing and improving sales quickly. Using automated processes and planning tools, it even assists reps in creating a schedule for their daily operations.

Global Sales Acceleration Software Market Restraint:

Complications associated with the implementation and deployment of software is major challenge in this market another challenge for the market is the lack of technical expertise. Additionally, only large enterprise may use cloud-based technology deployment model, which restricts the market's growth.

Other obstacles that can hamper the market expansion include the lack of knowledge in underdeveloped areas, the variance in industry-specific needs, and data privacy. In addition, inadequate IT infrastructure, a lack of standards, and ineffective data management are significant factors limiting market expansion throughout the projection period.

Global Sales Acceleration Software Market - Impact of Coronavirus (Covid-19) Pandemic :

The COVID-19 epidemic has had a severe impact on businesses all over the globe. The outbreak of COVID-19 has severely affected various industries including the manufacturing, retail and e-commerce, automotive, and more other industries worldwide. The COVID-19 outbreak adversely affected growth of sales acceleration software market. Due to restrictions in retail and e-commerce, logistics and manufacturing sectors during the lockdown period, the manufacturing of products had halted. These factors, hampered the growth of sales acceleration software market.

North America is expected to lead the global sales acceleration software market growth during the forecast period.

Statistics:

North America held a dominant position in the global sales acceleration software market in 2021, accounting for 32.4% share, in terms of value.

Figure 1: Global Sales Acceleration Software Market Share (%), By Region, 2021

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North America is estimated to be dominant in market share in the forecast period. In the region, the U.S is projected to lead the regional market. The growth of the market can be attributed to the presence of various established players in the region such as Salesloft, Inc., Zendesk and others.

Fast digitization and high penetration rate of the internet are likely to escalate the market growth in the region. Moreover, with various benefits such as more revenue generation offered by the sales acceleration software for SMEs as well large businesses, the market in the region is expected to have highest growth in the forecast period.

On the other hand, Asia Pacific region is expected to show steady growth for sales acceleration software market during the forecast period.

Growing factors such as digital transformation, cloud deployment, technological advancement and the presence of various startups are other potential factors supporting the market expansion in Asia Pacific during the forecast period. Hence, there is a growing demand for sales acceleration software in the Asia Pacific region.

The segment is expected to hold a dominant position during the forecast period.

BFSI segment belongs to industry vertical segment is expected to hold a dominant position during the forecast period. The growth of the market can be attributed increasing acceptance of sales acceleration software systems in the BFSI sector. There are various Artificial Intelligence (AI) applications in the segment including fraud detection, algorithmic trading, risk management, and more others. This is projected to drive the segmental growth in the forecast period.

Figure 2: Global Sales Acceleration Software Value (US$ Mn) Analysis and Forecast and Y-o-Y Growth (%), 2017 - 2030

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Global sales acceleration software market was valued at US$ 91.7 Million in 2021 and is expected to reach US$ 264.7 Million by 2030 at a CAGR of 12.5% between 2022 and 2030.

Major players operating in the global sales acceleration software market include LeadSquared, Zendesk, Freshworks Inc., Sage Group plc, Salesloft, Inc., QorusDocs Ltd., EngageBay, SENDER, INC., Yesware, Inc., HubSpot, Inc., ProProfs.com and among othres