New York, July 14, 2023 (GLOBE NEWSWIRE) -- According to Persistence Market Research, the global sales engagement platform market is predicted to expand at a CAGR of 14.3% and reach a size of US$ 29.62 billion by the end of 2033.
Emphasis on data-driven decision-making in sales processes is expected to considerably boost the demand for sales engagement platforms. Sales engagement systems provide powerful analytics and reporting tools that provide useful insights into sales operations, prospect interaction, and performance measures. Sales teams use these insights to detect trends, patterns, and consumer preferences to optimize their sales efforts.
Sales professionals who have access to extensive data may make educated decisions regarding resource allocation, target segmentation, and personalized messaging, resulting in more successful and efficient sales processes. Ability to track and measure key performance indicators allows businesses to evaluate the efficacy of their sales activities and make data-driven modifications for ongoing development.
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Companies are increasingly recognizing the benefits of data-driven decision-making, and, as such, the need for sales engagement platforms is anticipated to increase as well since they provide the tools and infrastructure needed to utilize data and drive sales success.
Key Takeaways from Market Study
- The global sales engagement platform market is estimated at US$ 7.87 billion in 2023.
- By component, sales engagement platforms occupy a leading market share of 56.8% in 2023.
- By enterprise size, the large enterprises segment is set to expand at a CAGR of 14.9% over the forecast period.
- By industry, the IT and telecom segment is estimated to record a substantial CAGR of 16.7% through 2033.
- By region, Europe is the market leader for sales engagement platforms with a share of 26.3%, followed by North America at 22.2%, and South Asia & Pacific at 14.7%.
“Growing demand for personalized and efficient customer interactions is driving the need for sales engagement platforms that streamline and automate sales processes while enhancing customer engagement,” says a Persistence Market Research analyst.
Ease of Integration of Sales Engagement Platforms with CRM Systems Driving Their Widespread Adoption
The sales engagement platform industry is primarily driven by the seamless flow of information these platforms enable between sales teams and other departments, as well as their effortless integration with CRM systems. Sales engagement solutions improve data integrity, minimize manual data input, and give a full view of client interactions by connecting with CRM systems. This connectivity enables businesses to optimize their sales processes, boost collaboration, and make data-driven choices, resulting in more efficiency and productivity.
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Market Key Players
Important Players in the Sales Engagement Platforms Market are Zoho Corporation, SalesLoft, Highspot, Inc., Freshworks, SAP, Upland Software, ClearSlide, Seismic, Bigtincan, Showpad and more
Recent Developments
Some recent developments of companies in the Sales Engagement Platforms market are
- HubSpot acquired Outreach in 2021 to expand its sales engagement platform capabilities.
- Salesforce acquired ClickSoftware in 2021 to add contact center capabilities to its sales engagement platform.
- Nimble launched a new AI-powered sales engagement platform in 2022.
- Freshworks acquired Salesmate in 2022 to expand its sales engagement platform capabilities.
- CallShaper launched a new contact center platform in 2022 that integrates with its sales engagement platform.
More Valuable Insights on Offer
Persistence Market Research’s report on the sales engagement platform market is segmented into four major sections:
- By Solution (sales engagement platforms, services [professional services, managed services]),
- By Enterprise size (small & medium enterprises [SMEs], large enterprises),
- By Industry (BFSI, consumer goods & retail, IT & telecom, media & entertainment, healthcare, manufacturing, others),
- By Region (North America, Latin America, Europe, East Asia, South Asia and Pacific, and the Middle East and Africa).
For additional information on how the sales engagement platform market will shape up in the near future, write to the team of expert research analysts at media@persistencemarketresearch.com
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Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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