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The Sales Intelligence Market size is estimated to grow by USD 2.94 billion at a CAGR of 14.76% between 2022 and 2027. The market's growth is influenced by several factors, including the escalating demand to enrich the digital customer experience, the increasing uptake of cloud-based solutions, and the rising need for tailored solutions. These dynamics are reshaping the market landscape, driving innovation and customization to meet evolving customer demands. As businesses seek to differentiate themselves in a digital-first world, the demand for solutions that can enhance customer experiences is expected to surge. This trend is expected to fuel the growth of the market, with companies increasingly investing in digital solutions to stay competitive and meet the evolving needs of their customers.
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This market report extensively covers market segmentation by deployment (cloud-based and on-premise), component (software and services), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
The market share growth by the cloud-based segment will be significant during the forecast period. Due to the cloud-based deployment, automation can be integrated with other healthcare software systems, including online booking and web-based payment and billing software
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The cloud-based segment was valued at USD 1.08 billion in 2017 and continued to grow until 2021. Cloud-based healthcare information software solutions are less expensive and more cost-effective than on-premises deployment due to features offered by service providers with flexible payment options, such as recurring monthly payments and pay-as-you-go plans. Therefore, because of these advantages, it is anticipated that during the forecast period, the cloud-based deployment segment will grow at a faster CAGR than the on-premises deployment segment. Several well-known suppliers of cloud-based business intelligence software include LinkedIn Corp., Oracle Corp., APIHub Inc., and HG Insights Inc. Thus, the cloud-based segment of the global market is expected to grow during the forecast period.
The market is set to experience rapid growth due to increased demand from small and medium-sized businesses for cloud-based solutions. This software helps companies utilize internal and external data to boost sales, refine processes, and uncover new opportunities. It's becoming essential for salespeople aiming to enhance both the quantity and quality of their sales. Sales executives rely on it to shape effective strategies using CRM data and external insights. Major companies in this field amplify its growth. The software also empowers B2B sales teams by providing real-time alerts, refining data, enabling advanced market research, and extracting valuable insights from extensive sales information. This trend is driving the demand for tools that can efficiently analyze large sales-related datasets, fueling the global sales intelligence market's expansion.
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North America is estimated to contribute 40% 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.
Because businesses in the region are early adopters of cloud services and software, North America is the main market for sales intelligence solutions. The fact that management consulting firms' services are rising in cost is one of the key factors influencing market expansion. Business analysis tools like sales intelligence have emerged as a result of the expansion of new research firms and the accessibility of numerous databases. These tools enable businesses to gather valuable, usable data for a small fraction of the price that marketing consultants and sales teams would charge. The benefits of sales intelligence solutions have increased their adoption among SMEs in North America. Due to digitalization, various companies and organizations in this region are also adopting sales intelligence solutions. Hence, all such factors will boost the market growth during the forecast period.
The market plays a crucial role in modern business strategies, utilizing Artificial Intelligence (AI) and Machine Learning (ML) to enhance customer targeting and connect rates. Through data enrichment software, organizations can improve sales conversions by understanding buying intent and optimizing pre-sales processes. Leading technologies like Chatbots and Natural Language Processing (NLP) facilitate better customer interactions, particularly in B2C and Fintech organizations. The market offers solutions for Lead Management, Data Management, and Analytics and Reporting, utilizing both structured information and unstructured data for lead scoring and informed decision-making. Deployment options include both On-Premise and Cloud-based solutions, catering to diverse business needs.
The rising adoption of a cloud-based solution is notably driving the market growth. The high volume of information, which supports the expansion of the global market, is largely due to the rising global Internet penetration. The global market for cloud-based sales intelligence applications, including Business Intelligence (BI)-related services like interactive dashboard reporting and smart KPI monitoring, is expanding significantly as a result of the rise of the Internet of Things (IoT) market and Big Data.
Due to the growth of IoT technology and internet adoption, cloud-based applications and services like Heroku, SAP Cloud, AWS Elastic, and Skype are becoming more popular. The adoption of cloud-based solutions by SMEs is propelling the growth of the global market. Therefore, the market is anticipated to experience rapid growth during the forecast period due to the significant increase in the adoption of cloud-based solutions across numerous industries.
The exponential growth of marketing intelligence is an emerging trend in the market. Due to the growing need for automated software to gather crucial information that enables analysis and decision-makers to make well-informed decisions, marketing intelligence is becoming increasingly popular among businesses operating in various industry verticals. Thus, the demand for market intelligence solutions has increased as a result of the growing need for a consistent and established process for identifying changing market conditions.
The automated data collection that targets key customers as a result of marketing intelligence has improved B2B processes and increased demand. Additionally, organizations' growing need for insightful data and their increasing use of marketing intelligence e-platforms are speeding up the uptake of sales intelligence solutions. Such factors will create growth opportunities for the global market during the forecast period
The standard regulations in sales intelligence are major challenges impeding market growth. The majority of the private data that sales intelligence providers collect, archive, and examine relates to contact information, job duties, and corporate connections. In addition to informing and advising sales and marketing teams, this information is frequently used to produce thorough assessments of individuals and organizations. The collection and use of personal data are subject to several data privacy laws, including the GDPR and CCPA, which may have an impact on how sales intelligence companies conduct their operations.
These laws mandate that businesses obtain individuals' explicit consent before collecting and using their data and ensure that the data is kept private and secure. For instance, it can be challenging for providers of sales intelligence to ensure that they comply with the law given the enormous amounts of data they must manage. Thus, the standard regulations are one of the major challenges for the growth of the global market during the forecast period.
The market 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market 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.
Data Axle Inc. - The company offers services such as data processing, data monetization, lead generation, acquisition, retention, data licensing, and many more. The key offerings of the company include a sales intelligence platform that provides quality data and innovative solutions to help businesses acquire for retaining customers.
The 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 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 2022 for the following segments
The market is pivotal for businesses, providing Sales intelligence companies and Sales intelligence software that enhance sales productivity and streamline sales cycles. These solutions, often integrated with Customer Relationship Management (CRM) and Marketing platforms, offer valuable insights into target customers and market understanding. Industries such as Retail, FinTech, IT and Telecom, and Manufacturing benefit from data extraction and decision-making tools, improving sales opportunity pipeline and sales objections handling. With a focus on AI applications for fraud detection and relationship manager augmentation, the market drives customer engagement and predictive analysis. Deployment options include On-Premise and Cloud-based solutions, catering to diverse industry needs.
The market is crucial for large enterprises seeking to leverage advanced technologies like Machine Learning and Robotic Process Automation (RPA) to streamline sales cycles and enhance sales activities. Industries such as Retail, FinTech, Media and Entertainment, and Telecommunication benefit from data analytics and decision-making tools, improving risk management and marketing strategies. With a focus on Customer experience platforms and Algorithmic trading, the market drives customer service delivery and marketing automation. On-premise and Cloud-based deployments cater to diverse industry needs, addressing challenges like security breaches and data integrity.
Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.76% |
Market growth 2023-2027 |
USD 2.94 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
14.32 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 40% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
APIHub Inc., Cognism Ltd., Crystal Project Inc., Data Axle Inc., Demandbase Inc., Dun and Bradstreet Holdings Inc., Gryphon Networks Corp., HG Insights Inc., Lead411 Corp., LeadIQ Inc., LinkedIn Corp., List Partners LLC, Oracle Corp., Outreach Corp., SalesIntel Research Inc., UpLead LLC, Vainu. io Software Oy, Yesware Inc., Zoho Corp. Pvt. Ltd., and ZoomInfo Technologies Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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 Deployment
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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