United States, Rockville MD, July 08, 2022 (GLOBE NEWSWIRE) -- According to a recent Fact.MR study, the global sales engagement software market is expected to hold a value of US$ 7.4 Billion in 2022. Valued at US$ 5 Billion in 2021, the market registered Y-o-Y growth at 48%. The market is anticipated to garner US$ 29.6 Billion while exhibiting a CAGR of 14.9% during the time span of 2022 to 2032.
Increasing adoption of cloud-based solutions is expected to boost the market in the forecast period. Cloud-based segments offer various benefits such as; scalability, flexibility, cost-efficiency, and enhanced collaboration. Furthermore, there has been increased integration of AI in sales engagement software. Owing to such advantages of cloud-based sales engagement software, players are investing huge amounts to strengthen their reach, thus, growing the market size.
Sales engagement software offers several benefits such as; increased client loyalty, better forecasting accuracy, and enhanced lead generation. In addition, players in the market are taking various initiatives to strengthen their position in the market. For instance, in May 2022, Mindtickle, a renowned provider of sales readiness technology, announced a partnership with Boostup.ai, revenue operations, and intelligence platform provider.
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Key Takeaways from the Market Study
- The cloud-based segment is expected to record a CAGR of 14.8% during the forecast period
- The market in the U.S is projected to secure a market value of US$ 10.3 billion by 2032
- Market in China is predicted to record a CAGR of 14.3% in the assessment period
- The large enterprise segment is predicted to experience a CAGR of 14.6% in the assessment tenure
- Market in South Korea to secure a market value of US$ 1.1 Billion by 2032
- Japanese market to hold a value of US$ 1.8 billion in the forecast period
Competition Analysis
Key players in the global sales engagement software market include Outreach, Groove, ClearSlide, SalesLoft, and Yesware. Key developments in the market are:
- In May 2022, Outreach, the sales execution platform assisting revenue enterprises announced its Outreach Explore ’22 event, the introduction of Outreach Guide, a new revenue intelligence solution designed to assist sellers to enhance deal management.
- In May 2022, P360, a technology developer for the life science industry, announced the launch of its ZING Engagement Suite. It assists pharmaceutical sales teams to engage with healthcare professionals.
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Key Segments Covered in the Global Sales Engagement Software Market
- Global Sales Engagement Software Market by Application :
- Sales Engagement Software for Large Enterprises
- Sales Engagement Software for SMEs
- Global Sales Engagement Software Market by Type :
- Cloud-Based Sales Engagement Software
- On-Premises Sales Engagement Software
- Global Sales Engagement Software Market by Region :
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global sales engagement software market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Application (Large Enterprises, SMEs) by Type (Cloud-Based, On-Premises) & Regional Analysis (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa) & Region (North America, Latin America, Asia Pacific, Europe and Middle East & Africa).
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