Global Sales Tech Market Growth (Status and Outlook) 2024-2030
Sales Tech market size was valued at US$ 35850 million in 2023 and is estimated to reach US$ 106880 million by 2030 with a CAGR of 16.9% during review period.
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According to Publisher’s latest study, the global Sales Tech market size was valued at US$ 35850 million in 2023. With growing demand in downstream market, the Sales Tech is forecast to a readjusted size of US$ 106880 million by 2030 with a CAGR of 16.9% during review period.
Market Overview
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A Bonafide Research industry report provides in-depth market analysis, trends, competitive insights, and strategic recommendations to help businesses make informed decisions.
The research report highlights the growth potential of the global Sales Tech market. Sales Tech are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Sales Tech. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Sales Tech market.
Sales tech is defined as a set of tools that help accelerate and enhance sales productivity by enabling sales reps to use their time and customer intelligence as effectively and efficiently as possible. It's important to note how it differs from sales automation and sales enablement. While both are key components of a holistic sales tech stack, they each play a distinct strategic role. Sales automation uses technology to organize and automate your team's most tedious, repeatable tasks—improving efficiency and giving your reps time to focus on closing the deal. Sales enablement, however, comprises the tools, processes, training, and resources an organization provides to increase rep efficiency and success. Sales automation and sales enablement are subsets of sales tech. The sales tech is primarily split into Customer Relationship Management (CRM),Prospecting and Lead Generation, Sales Automation, Sales Reporting and Management, Project Management, etc.
Key Features:
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Manmayi Raval
Research Consultant
Market Drivers: Digital Transformation: The sales tech industry is primarily driven by the continuous digital transformation occurring across many industries. Businesses are using digital tools more and more to improve and automate their sales processes.
Customer-Centric Strategies: To increase engagement and satisfaction, businesses are concentrating on customer-centric strategies. Sales technology tools facilitate individualized interactions by assisting in the knowledge of customer needs and preferences.
Data-Driven Decision Making: Businesses are able to make well-informed decisions because to the availability of big data and sophisticated analytics technologies. Sales tech platforms offer significant insights into market trends, sales performance, and consumer behavior.
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Remote and Hybrid Work Models: The use of sales technology tools that support virtual selling, teamwork, and communication has accelerated due to the shift to remote and hybrid work models.
Artificial Intelligence and Machine Learning: By combining AI and ML into sales tech platforms, sales efficiency is increased through improved lead scoring, predictive analytics, and personalized suggestions.
Increasing Competition: To stay ahead of the curve and boost sales, companies are being forced to implement cutting-edge sales technologies by the fierce rivalry that exists across a number of industries.
Challenges: Data Security and Privacy: With strict laws like the GDPR in Europe, maintaining data security and privacy is a big task. To secure sensitive customer data, businesses need to make significant investments in security procedures.
Problems with Integration: Seamless adoption of sales tech solutions can be hampered by the complexity and time required to integrate them with current systems and procedures.
Budgetary Restrictions: For small and medium-sized businesses, the high upfront and recurring expenditures of advanced sales technology solutions can be a barrier.
User acceptance and Training: The success of sales tech solutions can be impacted by the difficulty of ensuring user acceptance and giving sales teams the necessary training on new technology.
Rapid technical Changes: It can be difficult for organizations to stay up to speed with the rapid pace of technical breakthroughs, which necessitates constant updates and improvements.
Market Forecasts and Future Outlook: The increasing digital transformation, customer-centric initiatives, and technical developments are expected to propel the worldwide sales tech industry towards robust growth between 2024 and 2030. Sustained expansion will need addressing issues including data protection, integration problems, and budgetary restraints. Customized solutions, growing markets, and AI integration present substantial prospects in the sector.Opportunities: Integration of AI and Machine Learning: Improving lead scoring, personalization, and predictive analytics with AI and ML can greatly increase sales effectiveness and performance.
Expansion into Emerging Markets: There is a lot of room for expansion when it comes to emerging markets because of their developing digital infrastructure and rising use of sales technology.
Customization and Personalization: Creating sales technology solutions that are both customized and personalized to meet the needs of particular industries helps increase market penetration and draw in more clients.
Collaborations and Partnerships: Developing innovative and integrated solutions with other tech providers can be achieved through strategic partnerships and collaborations.
Mobile Sales Technology Solutions: By creating tools that are optimized for mobile devices, sales technology providers can meet the growing need for accessibility and ease in the usage of mobile devices for business activities.
Concentrate on SMEs: By providing scalable, reasonably priced solutions that are suited to their requirements, you can increase your clientele and propel the industry.
Market Segmentation:
Sales Tech market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value. By product type, customer relationship management (CRM) is the largest market segment, with 47 percent share.
1. Segmentation by type
• Customer Relationship Management (CRM)
• Prospecting and Lead Generation
• Sales Automation
• Sales Reporting and Management
• Project Management
• Others
2. Segmentation by application
• Medium-sized Enterprises (50 to 249 Employees)
• Large Enterprises(Employ 250 or More People)
Regional Insight: North America: Due to its sophisticated technological infrastructure, high rate of digital adoption, and large investments in sales technology, North America dominates the global sales tech market. Leading tech corporations and startups are heavily represented in the U.S., which makes a significant contribution.
Europe: Europe is right behind, led by nations like the United Kingdom, Germany, and France. The adoption of compliant sales tech solutions is influenced by the region's emphasis on data protection and security.
Asia-Pacific: The region is anticipated to develop at the fastest rate because of the fast-paced digital transformation, rising technological investments, and the growth of e-commerce. Japan, China, and India are important markets.
Latin America: Economic development, increased digitalization, and the increasing use of cloud-based solutions are driving the region's market's steady growth. The two largest markets are Mexico and Brazil.
Middle East & Africa: Due to economic diversification, smart city efforts, and rising investments in digital infrastructure, the Middle East & Africa area offers growth potential. North America is the world's largest market with a market share of about 57 percent, followed by Europe and Asia with about 25 percent and 11 percent, respectively.
1. Americas
• United States
• Canada
• Mexico
• Brazil
2. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
3. Europe
• Germany
• France
• UK
• Italy
• Russia
4. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape: Leading global sales technology players include Salesforce, LinkedIn, HubSpot, Zoho, and Zoominfo. Globally, the top five players have a share of nearly 66 per cent by revenue.
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
• Salesforce
• LinkedIn
• HubSpot
• Zoho
• Zoominfo
• Outreach
• Freshwork
• ClickFunnels
• Pipedrive
• Sugar CRM
• Clari
• Mindtickle
• Leadpages(Redbrick)
• Leadfeeder
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Sales Tech Market Size 2019-2030
2.1.2 Sales Tech Market Size CAGR by Region 2019 VS 2023 VS 2030
2.2 Sales Tech Segment by Type
2.2.1 Customer Relationship Management (CRM)
2.2.2 Prospecting and Lead Generation
2.2.3 Sales Automation
2.2.4 Sales Reporting and Management
2.2.5 Project Management
2.2.6 Others
2.3 Sales Tech Market Size by Type
2.3.1 Sales Tech Market Size CAGR by Type (2019 VS 2023 VS 2030)
2.3.2 Global Sales Tech Market Size Market Share by Type (2019-2024)
2.4 Sales Tech Segment by Application
2.4.1 Medium-sized Enterprises (50 to 249 Employees)
2.4.2 Large Enterprises(Employ 250 or More People)
2.5 Sales Tech Market Size by Application
2.5.1 Sales Tech Market Size CAGR by Application (2019 VS 2023 VS 2030)
2.5.2 Global Sales Tech Market Size Market Share by Application (2019-2024)
3 Sales Tech Market Size by Player
3.1 Sales Tech Market Size Market Share by Players
3.1.1 Global Sales Tech Revenue by Players (2019-2024)
3.1.2 Global Sales Tech Revenue Market Share by Players (2019-2024)
3.2 Global Sales Tech Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2022-2024)
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