2021 Lead Generation Solution Market Global Outlook with 17.5% of CAGR by 2028 - Belkins, Bitrix, Inc., Cience Technologies, Cloudtask, HubSpot

Lead Generation Solution Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Software and Services), Enterprise Size (SMEs and Large Enterprises), and Geography

Lead generation solutions are increasingly being used by online coding institutes, which are increasing in number. High popularity and awareness about distance learning is another factor that boosts the demand for lead generation solutions. Employees working 5 days a week are approached by respective institutes for certification programs whose training and teaching sessions are conducted on weekends. Lead generation services help such institutes in approaching candidates whose conversion probability is considerably high. Advanced lead generation software can also suggest suitable course for such candidates on the basis of their qualification and preferences. Potential leads are approached via cold calling, messaging, e-mails, and other respective media. This advanced method of lead generation is feasible and time-saving and delivers desired results.

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The education sector is growing rapidly all over the world, including developing as well as developed countries. Education institutes offering primary education, higher education, graduation courses, post-graduation courses, etc., need suitable and capable candidates that can prosper the name of their institutes. A lead generation software helps in sourcing, tracking, verifying, and prioritizing the potential leads for various schools and colleges. The process of lead generation is based on parameters such as grades, scholarships, awards, and extracurricular performance. Lead generation software companies acquire these data through their primary and secondary research, and the potential leads are approached accordingly. The lead generation services and software are proving as a boon for many new and upcoming coaching classes, schools, and colleges.

Impact of COVID-19 Pandemic on Lead Generation Solution Market

The North American market had suffered considerable economic losses in the first two quarters of 2020, owing to high count of COVID-19 cases, especially in the US. The economic growth was slowed, which directly impacted various trading activities across the region. By the end of 2020, the US witnessed 140,000 job losses, and unemployment rate stood at 6.7%, clearly indicating that the economy was faltering. One of the biggest impacts of COVID-19 on the B2B industry was the cancellations of in-person meetings and trade shows. eMarketer highlights, a survey from Demand Gen Report in 2020, stated that almost 53% of US B2B marketers see trade shows and in-person meetings as an effective approach to drive the conversion of leads. Since number of trade shows and personal meetings decreased, this has had significant impacts on lead generation as well as sales. On the other hand, limited workforce strength, owing to the imposition of strict containment measures, led to rise of online meetings through platforms such as Zoom, Google Meet, and Cisco. Thus, lead generation software and services helped these online platforms to generate leads for many big and small companies. Decreased demand in sectors such as real estate, travel, and automotive hampered the market growth of lead generation software and services in North America. However, post-pandemic, The lead generation solution market is anticipated to see a promising growth.

Strategic Insights

The players operating in the lead generation solution market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

- In April 2021, HubSpot, the customer relationship management (CRM) platform for scaled businesses, is expanding its toolkit. The new product is intended to revolutionize the role of operations professionals in the corporate world, allowing them to take the lead in assisting their organizations in scaling.

- In September 2020, Leadfeeder introduced a new integration relationship with Zapier. With our new Zapier Leadfeeder Integration, Leadfeeder customers can now send new leads to a CRM, Google Sheets, Trello, or any of the other hundreds of apps Zapier smoothly connects with.

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