Sales Intelligence Market Set for Explosive Growth, Projected to Reach USD 7.35 billion by 2031

According to the report, the global sales intelligence industry generated $2.78 billion in 2020, and is expected to reach $7.35 billion by 2030, witnessing a CAGR of 10.6% from 2021 to 2030.

Increase in adoption of advanced solutions for improved customer targeting and demand for content optimization and data enrichment tools drive the growth of the global sales intelligence market. However, variations in industry-specific requirements restrain the market growth. On the other hand, incorporation of AI and ML capabilities to automate pre-sales processes create new opportunities in the coming years.

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The software segment is expected to experience fastest growth in the coming years, owing to availability of wide range of sales intelligence software solutions and services for almost every task in the big data analytics portfolio through libraries on cloud or application programming interfaces (APIs). This also helps in reducing efforts in sales conversion and improving ROI.

Based on industry vertical, the IT & Telecom segment held the highest share in 2020, contributing to around one-fourth of the global sales intelligence market, and is expected to maintain its lead in terms of revenue during the forecast period. This is attributed to businesses being able to optimize their customer relationship management (CRM) portals to support sales executives in finalization of a sale by helping them determine solid leads much faster than before. However, the media & entertainment segment is estimated to portray the fastest CAGR of 12.8% from 2021 to 2030, owing to ability provided to effectively profile and target their customers to gain more viewership and widen the scope of their platforms.

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Depending on application, the lead management segment holds the largest share of the market as it is helping businesses reduce the time spent manually segmenting and scoring lead lists and ensuring that only high-quality leads are forwarded on to the sales departments. However, the analytics & reporting segment is expected to grow at the highest rate during the forecast period, as sales managers and teams increasingly rely on data-driven insights to identify high- and low-performing products and services.

Based on component, the software segment accounted for the largest share in 2020, contributing to more than two-thirds of the global sales intelligence market, and is expected to maintain its leadership status during the forecast period. This is due to ability offered to businesses to implement sales plans more effectively and faster than before. However, the services segment is expected to manifest the highest CAGR of 12.4% from 2021 to 2030, owing to ability offered to businesses to handle a large number of customers while maintaining a relatively small sales and support team.

The key players profiled in the sales intelligence market analysis are Clearbit, Demandbase, Inc., Dun & Bradstreet Corporation, Data Axle, HG Insights, InsideView, LinkedIn Corporation, Oracle Corporation, ZoomInfo Technologies LLC, and Zoho Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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Region wise, the sales intelligence market size was dominated by North America in 2020, and is expected to retain its position during the forecast period, owing to expanding investments in new technologies such as AI and ML, expanding presence of sales intelligence providers, and increased government support for compliance with regulations. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to increasing technology investments. This leads to a growing demand for solutions in sales intelligence utilized for maintenance automation and customer conversion process, which propels the sales intelligence market in Asia-Pacific.

Covid-19 Scenario:

• The Covid-19 pandemic impacted the sales intelligence market positively as there has been increase in investments by different companies in emerging technologies such as AI & machine learning and surge in need for sale intelligence software among enterprises to determine potential customers and tap on growth opportunities.

• Sales intelligence software and services were widely adopted by small and medium-sized enterprises (SMEs) to take strategic decisions, address customer issues on a priority basis, and avail results in real-time.

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