According to a new report Global Sales Performance Management Market, published by KBV research, The Global Sales Performance Management Market size is expected to reach $3.2 billion by 2026, rising at a market growth of 13.8% CAGR during the forecast period. There is increasing adoption of Smartphones and tablets as sales performance management elements to easily provide the above-mentioned facilities and raise the functionality, which is expected to push the growth of the market.
The outbreak of the COVID-19 pandemic resulted in the adoption of work-from-home norms, global lockdowns, and economic disruptions. Owing to this, there is a massive increment in the focus towards cloud and businesses have started shifting to cloud solutions to enhance planning and management of incentives, quotas, and territories & improving the performance of sales employees due to the cost-efficient and flexibility benefit offered by the cloud technology.
Among solution segments, the sales planning & sales forecasting segment is anticipated to procure the maximum revenue share in the global sales performance management market. Factors such as increasing demand for planning capacity, high allocating budgets, setting long-term goals, sales quotas, & KPIs, and tracking sales targets, forecasts & revenues to specify and encourage sales efforts are expected to contribute to the growth of sales planning & monitoring segment.
The Large Enterprises market dominated the Global Sales Performance Management Market by Enterprise Size 2019. SME solutions are expected to offer profitable growth opportunities for the leading players operating in the market. Factors such as increasing automation to enhance visibility & prevent incentive compensation calculation errors, growing demand for metric-driven sales tools, and rising enterprise mobility to expand agent engagement & performance are expected to fuel the demand for SPM solutions.
Europe is expected to obtain the second-largest revenue share due to the rising demand for enhanced sales channels & performance of enterprises in Europe, and the arrival of several US-based sales performance management software companies in Europe. Due to the surging demand, Asia-Pacific regions would exhibit promising growth rates during the forecast period. Emerging economies like India and China are boosting the sales performance management market with constant growth across different industries such as BFSI, IT and Telecom, and manufacturing & retail. Latin America, Middle East & Africa is expected to provide various growth possibilities for the providers as many countries are still to adopt sales performance management solutions.
Full Report: https://www.kbvresearch.com/sales-performance-management-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of SAP SE, Oracle Corporation, NICE Ltd., Salesforce.com, Inc., Anaplan, Inc., Zoho Corporation Pvt. Ltd., Xactly Corporation, Beqom SA, Iconixx Software Corporation, and Varicent Software, Inc.
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