Recent developments in sales enablement software market underscore the trend toward growing use of integrated platforms among marketing and sales departments help sales reps to engage buyers throughout the sales cycle. Sales enablement strategies find increasing adoption in multiple industries to assist them to effectively reach and convert more leads into customers.
The global sales enablement software market is forecast to reach US$ 11.55 Bn by 2031.
Enormous opportunities in the BFSI, e-commerce, and entertainment industries are expected to boost sales enablement software market size. Over the years, sales enablement software companies have tapped into the vast revenue streams from the deployment of the products in the telecom and technology and financial services sectors, found the authors of the study on the sales enablement software market. The sales enablement market share will grow on the back of the commercialization of solutions that contain integrated sales management tools and content.
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Key Findings of Sales Enablement Software Market Study
- Sales Enablement Solutions Enable Marketing & Sales Teams to Stay Competitive in Increasing Customer Engagement: Sales enablement software is gaining traction in multiple industries to increase customer engagements and gain a comprehensive insight into the buyer’s journey. In particular, businesses in the telecommunication, technology, and financial services sectors have leveraged the solutions to close customer deals faster and more effectively. With competition getting increasingly intense in the business landscape for B2B companies, the demand for products in the sales enablement software market has witnessed a robust fillip in recent years.
- Deployment in BFSI and E-commerce Sectors to Generate Lucrative Opportunities: The sales enablement software market size has been constantly augmented by substantial deployment of solutions in the BFSI and e-commerce sectors. In e-commerce sector, businesses increasingly seek scalable sales solutions that can be integrated with the CRM systems, thus expanding lucrative avenues in the sales enablement software market. Furthermore, they are harnessing the capabilities of lead engagement tools and knowledge management solutions to improve collaboration between teams and improve workflows. Solutions equipped with AI and next-gen data science tools have opened up new frontiers.
Sales Enablement Software Market: Key Drivers
- The drive for the sales enablement software market stemmed from the need for a robust sales enablement strategy to boost business bottom-line and profitability
- Need for integrating sales and marketing functions for optimizing sales workflows and enriching buyer’s journey is another key driver of the sales enablement software market. In particular, the need for multi-channel outreach programs is broadening the outlook of the sales enablement software market.
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Sales Enablement Software Market: Regional Growth Dynamics
North America is expected to hold a promising share of the global sales enablement software market by 2022-end. Rise in adoption of products by sales reps in various industries has spurred the revenue streams in the North America sales enablement software market. Sales enablement strategies are expected to gain adoption for multi-channel outreach programs.
The Asia Pacific sales enablement software market is anticipated to witness steady lucrative opportunities during the forecast period. Rise in demand for cutting-edge sales solutions in various organizations is underpinning massive revenue potential for sales enablement software companies.
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Sales Enablement Software Market: Key Players
Some of the key players in the market are Zoho Corporation, SalesHood, Pipelinersales, Mindmatrix Inc., Mindmatrix Inc., Mindtickle Inc., Holdings Limited, Bigtincan, Upland Software, Inc., verbTEAMS, Agile CRM, SAP SE, and Highspot.
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