NEWARK, Del, Feb. 10, 2023 (GLOBE NEWSWIRE) -- The global sales enablement platform market is projected to create an absolute dollar opportunity over the forecast period by registering a robust CAGR of 16.2% from 2022 to 2032. The global market is likely to exhibit a year-on-year increase of around 20%. The market totaled US$ 2.4 Billion in 2022 and is likely to propel to US$ 11 Billion by 2032. According to the historical analysis conducted by Future Market Insights, the global sales enablement platform market garnered a valuation of US$ 2 Billion in 2021. The current growth of the market is attributed to the growing support from various governmental organizations over the upcoming years.
Surging demand for sales enablement is attributed to its increased usage in various industries across the globe along with increasing investments by numerous companies. Furthermore, the emergence of the latest technologies such as Artificial Intelligence and machine learning is fueling the need for sales enablement among key enterprises in order to identify potential customers. Key market players are focusing on improving their growth opportunities which are expected to drive market growth across the assessment period.
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The rising deployment of advanced technology is used to promote manufacturing sales growth, effective planning, and improving the sales operation with the help of effective content. In addition to that, propelling the adoption of various cloud-based services such as Artificial Intelligence (AI) and Machine Learning (ML) for sales enablement platforms is expected to boost the demand for sales enablement platforms across the world. Sales enablement refers to the process through which the sales team efficiently processes data, information, resources, and other tools helpful in engaging and nurturing prospects across the journey of the buyers.
Key Takeaways
- The rising penetration of mobile technology across the globe is able to efficiently enhance the growth of the sales enablement platform market. Moreover, increasing penetration of the internet and other communication devices is expected to augment the market growth.
- Attributing to the changing buying behavior, it is vital to cater to the broad spectrum of consumers and offer them the right services. This, in turn, triggers the growth of the sales enablement platform market.
- As per FMI analysis, the deployment model sector is predicted to account for remunerative opportunities for the global sales enablement platform market. Moreover, several developing economies are focusing on making significant developments in their technological budgets. These aforementioned factors are anticipated to offer lucrative opportunities to players in the market.
- Owing to its cost-effectiveness and operational efficiency, the global sales enablement platform finds its utilization in all sizes of business organizations. Furthermore, many companies across the globe are rapidly adopting the sales enablement platform as it allows their sales and marketing teams to enhance their efficiencies in various areas like sales communication and training.
- The global sales enablement platforms are designed primarily to assist organizations to reach high-potential prospects. They are deployed to increase the organization’s conversion rates and close high-value deals.
- The sales enablement is specifically used for assisting clients to deploy the platform and design effective strategy and implementation. The platform is used to cater to the business-specific needs of organizations.
- The expanding product portfolio and fulfilling demand of a particular consumer are likely to increase the growth of the sales enablement platform market over the assessment period.
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Competitive Landscape
A rising number of research activities and partnerships among prominent players all over the world is anticipated to augment the demand for the sales enablement platform market. Therefore, with the rising concern of increasing sales efficiency, the market is likely to witness notable opportunities for expansion in the forecast period. Moreover, the vendors are taking advantage of up-gradation and product differentiation to gain an edge over other competitors in the market.
Eminent players in the global sales enablement market are UPLAND SOFTWARE INC., SEISMIC, HIGHSPOT, BIGTINCAN, MINDTICKLE and among others.
More Insights into the Sales Enablement Platform Market
North American region is anticipated to dominate the global sales enablement platform market by registering a CAGR of 16.0% from 2022 to 2032. The market is expected to garner revenue of US$ 3.9 Billion throughout the assessment period. The growth of the North American region is attributed to the presence of a modern technical hub in the region and the early adoption of technology.
Asia Pacific region is predicted to create lucrative growth opportunities by accounting for a 15.6% CAGR across the forecast period. China is predicted to have a significant contribution to the development of the market. The growth of the market can be attributed to the presence of evolving countries such as India, China, and Japan, among others. Key segments covered in the sales enablement platform market study as below:
Component:
- Platforms
- Services
Deployment Model:
- On-Premises
- Cloud-Based
Industry Vertical:
- Manufacturing
- Healthcare and Life Sciences
- Media and Entertainment
- IT and Telecom
- BFSI
- Other Industry Verticals
Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background
4.1. Sales Enablement Platform Market, by Key Countries
4.2. Sales Enablement Platform Market Opportunity Assessment (US$ Million) TOC continued..!
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