Dublin, March 18, 2021 (GLOBE NEWSWIRE) -- The "Global Sales Performance Management Market By Component, By Deployment Type, By Enterprise Size, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Sales Performance Management Market size is expected to reach $3.2 billion by 2026, rising at a market growth of 13.8% CAGR during the forecast period. The method of monitoring and directing personnel to enhance their ability to sell products or services is termed as Sales performance management (SPM). With the help of software programs, the performance of the sales process can be improved. Using these applications, several activities can be simplified in the domain of corporate performance management process and motivate behavior that boosts sales.
Guiding and encouraging salespeople to set objectives and satisfy customers are considered as the primary aims of the sales performance management process. Elements for goal setting and planning, feedback, skill development & performance review are included in the SPM software. SPM software is beneficial in order to monitor information about sales quotas, territories, incentive compensation, job evaluation, and forecasting.
These days, markets are evolving at a rapid pace, and the method of selling goods has changed forever. At the time of global turmoil such as the COVID-19 pandemic, resulting in economic uncertainty - it's certain that planning one time a year is no longer a feasible strategy. With the constant change in business and industry scenarios, constant and always-on planning is essential in order to adapt to these changes. This task cannot be done manually and without the help of data & digital technology.
Component Outlook
Based on Component, the market is segmented into Solution and Services. Solutions segment is further bifurcated across Sales Planning & Monitoring, Sales Performance Analytics & Reporting, Territory Management, Incentive Compensation Management and Others. Among the components, the solutions segment is estimated to contribute significantly to the market, while the services segment is expected to register a prominent growth rate during the forecast period. This growth is attributed to the increasing requirement for reducing - commission payout errors and low quota attainment problems, and low level of visibility into incentives and employee performance.
Deployment Type Outlook
Based on Deployment Type, the market is segmented into On-premise and Cloud. The on-premises segment is expected to garner the highest revenue share of the market over the forecast years. Increasing demand for customized solutions according to business needs, particularly among large enterprises & companies facing data security and privacy issues are the cause behind the growth of the on-premises segment. Large organizations with various data & design requirements and adequate sales personnel generally prefer an on-premises deployment model.
Enterprise Size Outlook
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Large enterprises is expected to acquire a prominent revenue share during the forecast period. SME solutions are expected to offer profitable growth opportunities for the leading players operating in the market. Factors such as increasing automation to enhance visibility & prevent incentive compensation calculation errors, growing demand for metric-driven sales tools, and rising enterprise mobility to expand agent engagement & performance are expected to fuel the demand for SPM solutions.
End User Outlook
Based on End User, the market is segmented into BFSI, Travel & Hospitality, IT & Telecom, Healthcare, Manufacturing, Consumer Goods & Retail and Others. Among the verticals, banking, financial services, & insurance (BFSI) is anticipated to procure the prominent market share. As BFSI companies deal with different insurance & banking products like debit cards, credit cards, loans, and insurance policies that include employment of various sales representatives, the demand to handle complicated incentive compensation calculations and provide employees with comprehensive visibility into complete SPM processes has forced BFSI companies to actively adopt SPM solutions.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The North America region has already developed for SPM solutions. This is credited to the region's robust economic landscape, increasing adoption of modern technologies, superior digital adoption at workplaces to enhance business processes, and growing awareness about the new technology. Moreover, the region comprises of developed countries like the US & Canada, which has majorly deployed SPM solutions, apart from integrating advanced technologies.
The major strategies followed by the market participants are Acquisitions and Product Launches. Based on the Analysis presented in the Cardinal matrix; Oracle Corporation and SAP SE are the forerunners in the Sales Performance Management Market. Companies such as Salesforce.com, Inc., Xactly Corporation, Varicent Software, Inc., and Beqom SA are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Oracle Corporation, NICE Ltd., Salesforce.com, Inc., Anaplan, Inc., Zoho Corporation Pvt. Ltd., Xactly Corporation, Beqom SA, Iconixx Software Corporation, and Varicent Software, Inc.
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Sales Performance Management Market, by Component
1.4.2 Global Sales Performance Management Market, by Deployment Type
1.4.3 Global Sales Performance Management Market, by Enterprise Size
1.4.4 Global Sales Performance Management Market, by End User
1.4.5 Global Sales Performance Management Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2017, May - 2021, Jan) Leading Players
Chapter 4. Global Sales Performance Management Market by Component
4.1 Global Sales Performance Management Solution Market by Region
4.2 Global Sales Performance Management Market by Solution Type
4.2.1 Global Sales Performance Management Sales Planning & Monitoring Market by Region
4.2.2 Global Sales Performance Management Sales Performance Analytics & Reporting Market by Region
4.2.3 Global Sales Performance Management Territory Management Market by Region
4.2.4 Global Sales Performance Management Incentive Compensation Management Market by Region
4.2.5 Global Other Solution Type Sales Performance Management Market by Region
4.3 Global Sales Performance Management Services Market by Region
Chapter 5. Global Sales Performance Management Market by Deployment Type
5.1 Global On-premise Sales Performance Management Market by Region
5.2 Global Cloud Sales Performance Management Market by Region
Chapter 6. Global Sales Performance Management Market by Enterprise Size
6.1 Global Large Enterprises Sales Performance Management Market by Region
6.2 Global Small & Medium Enterprises Sales Performance Management Market by Region
Chapter 7. Global Sales Performance Management Market by End User
7.1 Global BFSI Sales Performance Management Market by Region
7.2 Global Travel & Hospitality Sales Performance Management Market by Region
7.3 Global IT & Telecom Sales Performance Management Market by Region
7.4 Global Healthcare Sales Performance Management Market by Region
7.5 Global Manufacturing Sales Performance Management Market by Region
7.6 Global Consumer Goods & Retail Sales Performance Management Market by Region
7.7 Global Others Sales Performance Management Market by Region
Chapter 8. Global Sales Performance Management Market by Region
8.1 North America Sales Performance Management Market
8.2 Europe Sales Performance Management Market
8.3 Asia Pacific Sales Performance Management Market
8.4 LAMEA Sales Performance Management Market
Chapter 9. Company Profiles
9.1 SAP SE
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expense
9.1.5 Recent strategies and developments:
9.1.5.1 Product Launches and Product Expansions:
9.1.5.2 Acquisition and Mergers:
9.1.6 SWOT Analysis
9.2 Oracle Corporation
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.1 Recent strategies and developments:
9.2.1.1 Partnerships, Collaborations, and Agreements:
9.2.1.2 Product Launches and Product Expansions:
9.2.2 SWOT Analysis
9.3 NICE Ltd.
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expenses
9.3.5 Recent strategies and developments:
9.3.5.1 Product Launches and Product Expansions:
9.4 Salesforce.com, Inc.
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Regional Analysis
9.4.4 Research & Development Expense
9.4.5 Recent strategies and developments:
9.4.5.1 Partnerships, Collaborations, and Agreements:
9.4.5.2 Product Launches and Product Expansions:
9.4.5.3 Acquisition and Mergers:
9.4.6 SWOT Analysis
9.5 Anaplan, Inc.
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Regional Analysis
9.5.4 Research & Development Expense
9.5.5 Recent strategies and developments:
9.5.5.1 Partnerships, Collaborations, and Agreements:
9.5.5.2 Product Launches and Product Expansions:
9.5.5.3 Acquisition and Mergers:
9.6 Zoho Corporation Pvt. Ltd.
9.6.1 Company Overview
9.7 Xactly Corporation
9.7.1 Company Overview
9.7.2 Recent strategies and developments:
9.7.2.1 Partnerships, Collaborations, and Agreements:
9.7.2.2 Product Launches and Product Expansions:
9.7.2.3 Acquisition and Mergers:
9.8 Beqom SA
9.8.1 Company Overview
9.8.2 Recent strategies and developments:
9.8.2.1 Partnerships, Collaborations, and Agreements:
9.8.2.2 Product Launches and Product Expansions:
9.9 Iconixx Software Corporation
9.9.1 Company Overview
9.10. Varicent Software, Inc.
9.10.1 Company Overview
9.10.2 Recent strategies and developments:
9.10.2.1 Product Launches and Product Expansions:
9.10.2.2 Acquisition and Mergers:
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