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Global Salesforce Services Market Overview 2033 : Forecasted Market Size And Growth Rate
Salesforce Services Global Market Report 2024
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According to The Business Research Company's, The salesforce services market size has grown rapidly in recent years. It will grow from $11.01 billion in 2023 to $12.67 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to increased demand for CRM solutions, cloud adoption trends, digital transformation initiatives, globalization of businesses, and the rise of mobile technology.
The salesforce services market size is expected to see rapid growth in the next few years. It will grow to $22.34 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to continued digital transformation efforts, expanding adoption of AI and automation, increasing focus on customer experience, growing demand for industry-specific solutions, and the rise of subscription-based pricing models. Major trends in the forecast period include the proliferation of AI-driven analytics, deeper integration with IoT devices, augmented reality applications for customer engagement, expansion of low-code/no-code development platforms, and emphasis on sustainability and ethical practices.
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Market Drivers and Trends:
The growing adoption of personalized medicine is expected to propel the growth of the peptide and oligonucleotide CDMO markets going forward. Personalized medicine is an approach to healthcare that tailors medical decisions and treatments to individual characteristics, such as genetics, environment, and lifestyle. The growing adoption of personalized medicine is due to several factors such as advancements in genomic technologies, increased understanding of disease mechanisms at the molecular level, and the demand for more effective and targeted treatment options tailored to individual patients' genetic profiles and medical histories. Peptide and oligonucleotide contract development and manufacturing organizations (CDMOs) play a crucial role in personalized medicine by producing customized therapeutic peptides and oligonucleotides tailored to individual patient needs. For instance, in February 2024, according to the Personalized Medicine Coalition, a UK-based organization promoting the adoption of personalized medicine, the Food and Drug Administration's (FDA) Center for Drug Evaluation and Research (CDER) approved 16 new personalized treatments for rare disease patients, up from 6 in 2022. Therefore, the growing adoption of personalized medicine is driving the growth of the peptide and oligonucleotide CDMO market.
Major companies operating in the salesforce services market are focused on developing advanced solutions, such as generative artificial intelligence (AI) technology, to optimize customer support processes and enhance user experiences. Generative artificial intelligence technology is an AI system that creates content, insights, and solutions autonomously, helping sales teams personalize customer interactions, forecast trends, and optimize strategies for improved sales performance and engagement. For instance, in March 2024, Salesforce Inc., a US-based cloud computing company specializing in customer relationship management (CRM) software, launched Einstein 1 Field Service Edition, a new package designed to revolutionize field service operations by integrating real-time insights, advanced features, and AI capabilities. This edition aims to enhance technician productivity and operational efficiency, transforming field service appointments into revenue opportunities. It enables customers to schedule appointments easily and allows technicians to monitor and assist remotely through video sessions, reducing the need for on-site visits.
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Major Key Players of the Market:
Microsoft Corporation, AT&T Inc., Dell Technologies Inc., Siemens AG, Deloitte Touche Tohmatsu Limited, Intel Corporation, International Business Machines Corporation (IBM), Oracle Corporation, SAP SE, Tata Consultancy Services Limited, Salesforce Inc, NTT DATA Corporation, Capgemini SE, Cognizant Technology Solutions Corporation, Adobe Inc., DXC Technology (DXC), Wipro Limited, Tech Mahindra Limited, Vertiba Inc., Micro Focus International plc, Avenga LLC, Verint Systems Inc, Peeklogic LLC
Salesforce Services Market 2024 Key Insights:
• The salesforce services market size is expected to see rapid growth in the next few years. It will grow to $22.34 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%.
• Role Of Digital Transformation In Fueling The Salesforce Services Market
• Transforming Field Service Operations Enhances Market Growth
• North America was the largest region in the salesforce services market in 2023
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