Global Sales Performance Management Solutions Market Overview:
SPM stands for sales performance management, which is a collection of operational and analytical features that automate and integrate back-office sales activities. SPM is used to increase the efficiency and effectiveness of operations. Sales incentive compensation management, objectives management, quota management, and planning, territory management and planning, sophisticated analytics, and gamification are some of the applications offered under the sales performance management solutions. The growing adoption of digital tools and solutions by businesses along with increasing penetration of internet services has led to the growth of the sales performance management solutions market. Currently, North America is the largest market for sales performance management solutions.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Cloud Based Solutions are rising in popularity due to Low Costs of Setup and Operations
Market Growth Drivers:
Growing Adoption of Digital Tools, Services, and Solutions by Businesses, Rising Growth of the IT Market and Products Developed by the IT Market and Increasing Penetration of Internet Services
Challenges:
Lack of Skilled Professionals Required in Developing Countries
Restraints:
Less Awareness about the Presence and the Benefits of the Product in the Developing Countries
Opportunities:
Asia Pacific Region has Huge Hopes because of New Emerging Businesses and Economies in the Region
Competitive Landscape:
The competitive landscape of the sales performance management market includes information from competitors. Company overview, financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance are all included. The data points presented above are solely linked to the companies' focus on the sales performance management market.
Some of the key players profiled in the report are Oracle Corporation (United States), SAP SE (Germany), IBM Corporation (United States), Salesforce.com, Inc. (United States), Anaplan (United States), Callidus Software Inc. (United States), Varicent Software Inc. (Canada), Xactly Corporation (United States), NICE (Israel) and Zoho Corporation (India). Additionally, following companies can also be profiled that are part of our coverage like Iconixx Software Corporation (United States), Incentives Solutions (Israel) and Optymyze (United Kingdom). Analyst at AMA Research see United States Players to retain maximum share of Global Sales Performance Management Solutions market by 2028. Considering Market by Organisation Size , the sub-segment i.e. SMEs will boost the Sales Performance Management Solutions market. Considering Market by Deployment , the sub-segment i.e. On Cloud will boost the Sales Performance Management Solutions market.
Latest Market Insights:
In 2021, Learning Technologies Group plc, a United Kingdom-based digital learning and talent management services provider announced the acquisition of Reflektive Inc., which is one of the leading providers of performance management services. The Reflektive Company specializes in engagement and analytics tools. The acquisition of Reflektive’s cutting-edge services and technologies in performance management will significantly expand the market scope of the LTG plc.
In 2019, Varicent Software Inc., the Canadian company specializing in Sales Performance and compensation management services announced its re-launch as an Independent Sales Performance Management Company. This move was made after Great Hill Partners and Spectrum Equity signed a definitive agreement to acquire assets of IBM's sales performance management business and allow the entity to operate independently. The expertise gained from IBM as well as new talent added to the company will enhance the company’s prospectus in the fragmented market of sales performance management.
What Can be Explored with the Sales Performance Management Solutions Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Sales Performance Management Solutions Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Sales Performance Management Solutions
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Sales Performance Management Solutions market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Sales Performance Management Solutions market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Sales Performance Management Solutions Developers and Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.