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The sales enablement platform market size is estimated to grow by USD 4.24 billion at a compound annual growth rate of 15.35% between 2022 and 2027. The market thrives on the rising necessity to elevate customer digital experiences, integrate sales enablement platforms, and refine internal sales procedures.
These drivers stimulate the adoption of sales enablement solutions, enabling enterprises to streamline sales operations and engage customers efficiently in the digital realm. However, challenges loom, such as heightened concerns regarding data security, privacy, scarcity of software proficiency, and inconsistent user experiences. Despite these obstacles, the demand for enhanced sales capabilities continues to surge, prompting businesses to prioritize the implementation of sales enablement solutions to navigate the evolving digital landscape adeptly and sustain competitive advantage.
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This sales enablement platform market trends report extensively covers market segmentation by end-user (consumer goods and retail, IT and telecom, media and entertainment, healthcare and life sciences, and others), component (platform and services), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
The market share growth by the consumer goods and retail segment will be significant during the forecast period. In 2022 it had the largest share of the overall market. Platforms help geographically distributed teams of retail markets gain access to the latest product information, collateral, and customer insights. It also provides a means to distribute and manage the vast amount of data and utilize it to effectively close deals.
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The consumer goods and retail segment shows a gradual increase in the market share of USD 579.28 million in 2017 and continue to grow by 2021. To ensure customer retention, retailers globally are implementing strategies that target their customer base with personalized content. It helps them appeal to customers on a variety of digital media channels and platforms. Hence these factors will propel the growth of this segment of the market during the forecast period.
The market by the platform segment is expected to record a rapid growth rate during the forecast period. The shift towards cloud-based platforms by small and medium-sized enterprises (SMEs) has increased demand for sales enablement platforms as well as product-based sales training. It utilizes internal and external data to inform key business decisions and improve processes and figures. The ability to monetize data to further explore new opportunities also encourages companies to use platforms and utilize data-driven strategies. Some additional features that it provides include trigger alerts in real-time, enrichment of existing data, and the ability to conduct market research. Hence these factors are likely to contribute to the growth of the platform segment of the market during the forecast period.
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North America is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The largest market in the world is North America due to the increasing shift towards cloud services and software. The services of management consulting firms are costing more, making enablement platforms a viable alternative for a fraction of the cost charged by consultancy firms. They leverage vast amounts of company data, generate key insights, and suggest actionable decisions. However, most Fortune 500 companies continue to opt for consulting firms due to higher credibility and familiarity with any services ranging from strategy consulting to legal advice. Regardless, the possibility of dynamic scaling and the automation of administrative tasks has resulted in a greater number of companies, particularly SMEs in the region, shifting towards enablement platforms.
In the dynamic landscape of sales, automated sales processes and sales enablement tools play pivotal roles, particularly in catering to the needs of the large organization segment. These tools empower sales representatives and foster their readiness through platforms that offer real-time data, aiding effective sales management and enhancing customer engagement based on consumer preferences. They streamline collaboration between customer-facing teams and inbound sales teams through platforms like digital sales rooms, facilitating individualized interactions. Integration with marketing automation tools and CRM systems supports digital transformation projects and aids in managing distant sales teams efficiently. Leveraging data-driven insights into buyer behavior across digital channels, these platforms optimize content management and promote seamless collaboration between sales and marketing teams. Additionally, they streamline onboarding and provide comprehensive training resources, catering to the needs of mid-sized enterprises with detailed product-level information and advanced analytics capabilities.
The market is witnessing growth driven by the increasing demand to enhance customer digital experiences. Consulting firms adapt services to dynamic client preferences, ensuring cost-effectiveness. Sales enablement platforms analyze extensive firm data for efficient marketing decisions, recognizing customer-centricity's importance in online marketing. Tech-savvy consumers seek sophisticated digital experiences, prompting investment in such platforms for customer engagement, retention, and expansion. These factors are poised to bolster sales enablement platform market growth. Sales enablement solutions, including all-in-one platforms, optimize sales management, workflows, and performance, empowering customer-facing teams with insights for informed decision-making. This trend is reshaping the platform segment, with organizations vying for market share to meet evolving customer needs and preferences.
The exponential growth of marketing intelligence is a key trend in the market. This is vastly due to the demand for software to process vital data, which can help businesses gain key insights and direct more effective marketing campaigns in the future. Hence the usage of market intelligence solutions ensures continuous upgradation and a clear process to ensure that dynamic consumer characteristics are accounted for.
Additionally, the collection of data by automation can be used to further enhance the B2B processes and this will boost demand. The ability to monetize business data and the increasingly noticed shift towards the adoption of platforms will contribute to the growth of the market during the forecast period.
The increased risks related to data security and privacy are challenging sales enablement platform market growth. The shift towards cloud-based platforms has various benefits, however, it leaves the possibility of exposing confidential information to the public and others. It increases dependency on cloud computing service providers and results in firms losing control over organization data. In the case of a data breach, misuse or manipulation of data could occur. Hence there are a variety of regulatory compliance and regulations for effective risk management.
Therefore, data security concerns are causing few SMEs to continue with in-premises sales enablement platforms. This ensures control of end-user and sponsor data, minimizes the chances of data loss and misuse by cyber criminals, and prevents reputation loss. Hence the above factors are likely to hinder the growth of the market during the forecast period.
The sales enablement platform market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the sales enablement platform market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bigtincan Holdings Ltd. - The company offers intelligent sales enablement solutions that empower customer-facing teams to increase sales by providing better buying experiences to customers.
Accent Technologies Inc. - The company offers sales enablement platforms such as Accent AI-Driven.
GetAccept Inc. - The company offers sales-enhanced enablement services under many brands such as ClearSlide, and Tiled.
The sales enablement platform market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market Companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The sales enablement platform market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
The market experiences exponential growth driven by factors such as real-time data, automated sales processes, and consumer preferences. These platforms empower inbound sales teams with tools like digital sales rooms and CRM systems to enhance buyer engagement. Catering to both large organizations and mid-sized enterprises, sales enablement services streamline sales onboarding programs and facilitate sales coaching through microlearning and sales gamification. Integration with marketing automation tools and content management systems ensures personalized interactions and effective content creation. From online retailers to manufacturing firms, these platforms optimize sales readiness with product-level information and AR integrated video shopping, leveraging data-driven insights to drive sales growth across digital channels.
Moreover, the market is characterized by the adoption of cutting-edge technologies and strategies to optimize sales processes. Key components such as automated sales processes and SaaS solutions cater to the needs of large organizations and leverage the cloud segment for scalability and flexibility. These platforms replace outdated legacy systems and mitigate risks associated with data center outages, ensuring a seamless sales cycle. By facilitating collaboration between sales and marketing teams, they enable effective sales communication and provide advanced sales tools for representatives. Furthermore, they offer individualized interactions and support digital transformation projects, particularly for distant sales teams. Insights into buyer behavior and comprehensive training materials equipped with learning management features empower sales teams to leverage valuable sales data and analytics dashboards, whether accessed via the internet or on-premise, to drive success in large enterprises.
Sales Enablement Platform Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.35% |
Market growth 2023-2027 |
USD 4.26 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
14.22 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 30% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accent Technologies Inc., Bigtincan Holdings Ltd., ClientPoint Inc., Dropbox Inc., GetAccept Inc., Gong.io Inc., Highspot Inc., Mediafly Inc., Mindtickle Inc., Nippon Telegraph and Telephone Corp., PAPERFLITE, Pitcher AG, QorusDocs Ltd., Qstream Inc., Quark Software Inc., Rallyware Inc., Salesforce Inc., Seismic Software Inc., Showpad Inc., and Upland Software Inc. |
Market dynamics |
Parent market analysis, Market forecasting, Sales enablement platform market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Sales enablement platform market worth and condition analysis for the market forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Component
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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