Sales Enablement Platform Market Soars: Anticipated US$ 11 Billion Valuation by 2032 with Impressive 16.2% CAGR

In the dynamic landscape of modern business, the sales enablement platform market has emerged as a powerhouse of growth and innovation. In 2021, it flexed its muscles, recording an impressive $2 billion in global sales. Fast forward to 2022, and it's set to soar even higher, with a projected 20% year-on-year increase, reaching a substantial $2.4 billion. But the real story here is what lies ahead.

With the unwavering support of governmental organizations worldwide, the sales enablement platform market is gearing up for an extraordinary journey. By the time 2032 rolls around, it's poised to reach a staggering $11 billion, showcasing a remarkable compound annual growth rate (CAGR) of 16.2% throughout the forecast period.

So, what's fueling this meteoric rise? It's a blend of factors that encapsulate the essence of modern sales and technology. The burgeoning demand for sales enablement solutions, which act as catalysts for boosting sales performance across industries, is driving this surge. Companies, both big and small, are doubling down on investments in cutting-edge technologies such as artificial intelligence and machine learning. These technologies empower businesses to not only identify potential customers but also fine-tune their growth strategies for optimal results.

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Surging demand for sales enablement is attributed to its increased usage in various industries across the globe along with increasing investments by numerous companies. Furthermore, the emergence of the latest technologies such as Artificial Intelligence and machine learning is fueling the need for sales enablement among key enterprises in order to identify potential customers. Key market players are focusing on improving their growth opportunities which are expected to drive market growth across the assessment period.

The rising deployment of advanced technology is used to promote manufacturing sales growth, effective planning, and improving the sales operation with the help of effective content. In addition to that, propelling the adoption of various cloud-based services such as Artificial Intelligence (AI) and Machine Learning (ML) for sales enablement platforms is expected to boost the demand for sales enablement platforms across the world. Sales enablement refers to the process through which the sales team efficiently processes data, information, resources, and other tools helpful in engaging and nurturing prospects across the journey of the buyers.

- Key Takeaways:

The rising penetration of mobile technology across the globe is able to efficiently enhance the growth of the sales enablement platform market. Moreover, increasing penetration of the internet and other communication devices is expected to augment the market growth.

Attributing to the changing buying behavior, it is vital to cater to the broad spectrum of consumers and offer them the right services. This, in turn, triggers the growth of the sales enablement platform market.

As per FMI analysis, the deployment model sector is predicted to account for remunerative opportunities for the global sales enablement platform market. Moreover, several developing economies are focusing on making significant developments in their technological budgets. These aforementioned factors are anticipated to offer lucrative opportunities to players in the market.

Owing to its cost-effectiveness and operational efficiency, the global sales enablement platform finds its utilization in all sizes of business organizations. Furthermore, many companies across the globe are rapidly adopting the sales enablement platform as it allows their sales and marketing teams to enhance their efficiencies in various areas like sales communication and training.

The global sales enablement platforms are designed primarily to assist organizations to reach high-potential prospects. They are deployed to increase the organization's conversion rates and close high-value deals.

The sales enablement is specifically used for assisting clients to deploy the platform and design effective strategy and implementation. The platform is used to cater to the business-specific needs of organizations.

The expanding product portfolio and fulfilling demand of a particular consumer are likely to increase the growth of the sales enablement platform market over the assessment period.

- Competitive Landscape:

A rising number of research activities and partnerships among prominent players all over the world is anticipated to augment the demand for the sales enablement platform market. Therefore, with the rising concern of increasing sales efficiency, the market is likely to witness notable opportunities for expansion in the forecast period. Moreover, the vendors are taking advantage of up-gradation and product differentiation to gain an edge over other competitors in the market.

- Key Players Profiled:

Eminent players in the global sales enablement market include UPLAND SOFTWARE INC., SEISMIC, HIGHSPOT, BIGTINCAN, and MINDTICKLE, among others. In addition, the vendors are likely to leverage up-gradation and product differentiation to gain an edge over other competitors in the market.

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- Market Segments Covered:

By Component:
Platforms
Services

By Deployment Model:
On-Premises
Cloud-Based

By Industry Vertical:
Manufacturing
Healthcare and Life Sciences
Media and Entertainment
IT and Telecom
BFSI
Other Industry Verticals

By Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the 'Global Icon in Business Consulting' at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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This release was published on openPR.