According to the latest report by IMARC Group, titled, “Sales Performance Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global sales performance management market size reached US$ 3.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.0 Billion by 2027, exhibiting a growth rate (CAGR) of 16.7% during 2022-2027.
Sales performance management (SPM) refers to the set of operational and analytical functions that automate back-office sales processes. It includes incentive compensation management (ICM), territory management (TM), quota management (QM), language processing and exploration, and advanced analytics. It improves operational efficiency and effectiveness by facilitating better sales analytics and opportunities, improved forecast accuracy, and healthy profit margins. It is widely employed in banking, financial service and insurance (BFSI), information technology (IT) and telecom, retail, logistics, and healthcare industries across the globe.
Sales Performance Management Market Trends:
At present, organizations are rapidly shifting their work ecosystem towards digital platforms, which is catalyzing the demand for sales metrics calculation and monitoring. This represents one of the primary factors positively influencing the market. In addition, the increasing adoption of advanced technologies, such as artificial intelligence (AI) and machine learning (ML), to facilitate decision-making and improve the accuracy of insights is creating a positive market outlook. Furthermore, rapid urbanization and the emerging trend of working from home are catalyzing the demand for remote and automated sales performance management solutions. This, in confluence with the increasing number of small and medium enterprises (SMEs) and easy deployment of SPM on the cloud and premises, is stimulating the growth of the market around the world.
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Sales Performance Management Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Anaplan Inc.
- Axtria Inc.
- beqom SA
- Iconixx Software Corporation
- International Business Machines Corporation
- Microsoft Corporation
- NICE Ltd.
- Oracle Corporation
- com Inc.
- SAP SE
- Xactly Corporation.
Breakup by Solution:
- Territory Management
- Sales Analytics
- Sales Planning and Monitoring
- Incentive Compensation Management
- Others
Breakup by Services:
- Consulting Services
- Managed Services
- Training and Support
- Others
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Deployment Model:
- On-premises
- Cloud-based
Breakup by End User:
- BFSI
- IT and Telecom
- Retail
- Energy and Utilities
- Travel and Hospitality
- Transportation and Logistics
- Healthcare
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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