Sales Performance Management Market Growth Statistics, Regional Analysis, Top Players, Size, And Forecast To 2033

The sales performance management market size has grown rapidly in recent years. It will grow from $6.34 billion in 2023 to $7.27 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to adoption of customer relationship management (crm) systems, emphasis on sales team productivity and efficiency, growth in sales force automation technologies, need for accurate sales performance measurement, increasing complexity in sales processes.

The sales performance management market size is expected to see rapid growth in the next few years. It will grow to $13.51 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to emphasis on predictive analytics for sales forecasting, rise in remote and virtual sales teams, adoption of gamification for sales motivation, continued evolution of sales enablement tools, shift towards real-time performance feedback and coaching.. Major trends in the forecast period include integration of artificial intelligence in sales performance management, integration of sales performance management with other business systems, focus on data-driven insights for sales strategy optimization, development of mobile-centric sales performance solutions, embrace of agile methodologies in sales operations.

Market Overview -
Sales performance management refers to a set of operational and analytical capabilities that automate and combine back-office operational sales operations, with the goal of increasing operational efficiency and effectiveness. Sales performance management is used to track sales performance and set up to meet or exceed the company's revenue goals.

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Growing Demand For Automation Drives The Market
The increase in automation is expected to propel the growth of the SPM market going forward. Automation is a set of operational and analytical functions used to automate and combine back-office operational sales activities. Major players in the SPM market are adopting automation processes to increase operational efficiency and effectiveness. For instance, in May 2022, according to Eagle Technologies, an India based provides a turnkey solution for businesses seeking an all-in-one solution to automated production and testing, about 60% of all occupations could automate at least 30% of their tasks. Automation will raise global productivity by 0.8% to 1.4% annually. Increased adaption of robots leads to greater employment more broadly across the economy, and by 2025, automation will lead to a net growth of 12 million jobs. Hence, the increasing automation in business and business processes will drive the market for SPM.

Competitive Landscape -
Major companies operating in the sales performance management market report are SAP SE, Oracle Corporation, Xactly Corporation, Anaplan Inc., Varicent Software Inc., Beqom UK Limited, Salesforce Inc., Iconixx Software Corporation, International Business Machines Corporation, Callidus Software Inc., Gryphon Networks Corp., Cellarstone India Pvt Ltd., Zoho Corporation Pvt. Ltd., Microsoft Corporation, Optymyze Pte Ltd., NICE Ltd., Compensation Management Software, Synygy India Private Limited, Zoltners and Prabhakant Sinha, Merced Systems Ltd., Opensymmetry Private Limited, Aviso Inc., Altify Limited, Accent Technologies Inc., Revegy Inc., SalesLoft Inc., SalesHood Inc., Ambition Services Pvt. Ltd., Level Eleven LLC

Introduction Of Loyalty Management Solutions For Customers
New product innovations have emerged as the key trend gaining popularity in the SPM market. Major companies operating in the SPM sector are focused on developing new innovative products to strengthen their position. For instance, in January 2021, Salesforce, a US-based cloud-based software company, launched Loyalty Management, a solution that allows companies to build intelligent loyalty programs for both B2B and B2C customers with a flexible, configurable, and quickly deployable solution that fits their specific needs across industries such as retail, consumer goods, manufacturing, travel, and hospitality. Companies can use this solution to develop more personalized customer experiences, change loyalty programs to meet changing customer expectations, and help generate business value by generating loyal, lifetime customers.

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Key Segments -

The sales performance management market covered in this report is segmented -

1) By Component: Solutions, Services
2) By Organization: Large Enterprises, Small and Medium-sized Enterprises (SMEs)
3) By Deployment: On-premises, Cloud
4) By Vertical: BFSI, Telecommunications, Manufacturing, Energy and Utilities, Consumer Goods and Retail, Healthcare and Pharmaceuticals, Other Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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