With the growing need for a seamless business process, the market for sales engagement software is expected to augment its revenue from US$ 5 Billion in 2021 to US$ 7.4 Billion in 2022.
The projected Y-o-Y for the aforementioned year is 48%. During the forecast period, from 2022 to 2032, the industry is anticipated to garner US$ 29.6 Billion while exhibiting a CAGR of 14.9%.
The global sales engagement software market is anticipated to secure absolute dollar growth of US$ 22.2 Billion by 2032. Expansion of the market can be attributed to the increasing demand for cloud-based sales engagement software. Also, the increasing popularity of Bring Your Own Device (BYOD) culture has propelled the market expansion over the last few years.
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Increasing adoption of cloud-based solutions is expected to boost the market in the forecast period. Cloud-based segments offer various benefits such as; scalability, flexibility, cost-efficiency, and enhanced collaboration. Furthermore, there has been increased integration of AI in sales engagement software. Owing to such advantages of cloud-based sales engagement software, players are investing huge amounts to strengthen their reach, thus, growing the market size.
Sales engagement software offers several benefits such as; increased client loyalty, better forecasting accuracy, and enhanced lead generation. In addition, players in the market are taking various initiatives to strengthen their position in the market. For instance, in May 2022, Mindtickle, a renowned provider of sales readiness technology, announced a partnership with Boostup.ai, revenue operations, and intelligence platform provider.
Key Takeaways from the Market Study
- The cloud-based segment is expected to record a CAGR of 14.8% during the forecast period
- The market in the U.S is projected to secure a market value of US$ 10.3 billion by 2032
- Market in China is predicted to record a CAGR of 14.3% in the assessment period
- The large enterprise segment is predicted to experience a CAGR of 14.6% in the assessment tenure
- Market in South Korea to secure a market value of US$ 1.1 Billion by 2032
- Japanese market to hold a value of US$ 1.8 billion in the forecast period
Competition Analysis
Key players in the global sales engagement software market include Outreach, Groove, ClearSlide, SalesLoft, and Yesware. Key developments in the market are:
- In May 2022, Outreach, the sales execution platform assisting revenue enterprises announced its Outreach Explore ’22 event, the introduction of Outreach Guide, a new revenue intelligence solution designed to assist sellers to enhance deal management.
- In May 2022, P360, a technology developer for the life science industry, announced the launch of its ZING Engagement Suite. It assists pharmaceutical sales teams to engage with healthcare professionals.
Key Players Profiled
- Outreach
- ClearSlide
- SalesLoft
- Yesware
- Groove
Key Highlights:
- Sales and Demand of sales engagement software
- Growth of sales engagement software
- Market Analysis of sales engagement software
- Market Insights of sales engagement software
- Key Drivers Impacting the sales engagement software
- Which are the Key drivers impacted by sales engagement software
- Restraints Shaping Market Growth
- Market Survey of sales engagement software
Key Questions Covered in the Sales Engagement Software Report
- What is the projected value of the sales engagement software in 2023?
- At what rate will the global sales engagement software grow until 2033?
- Which are the factors hampering the growth in the sales engagement software?
- Which region is expected to lead in the global sales engagement software during 2023 to 2033?
- Which are the factors driving the sales engagement software during the forecast period?
- What is the expected market value of the sales engagement software during the forecast period?
More Valuable Insights on sales engagement software
Fact.MR, in its new report, offers an unbiased Market Analysis of sales engagement software, Sales and Demand of sales engagement software, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria. This newly published and insightful report sheds light on Market Insights of sales engagement software, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of sales engagement software.