Dublin, Nov. 04, 2024 (GLOBE NEWSWIRE) -- The "Sales Engagement Platform Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2031" report has been added to ResearchAndMarkets.com's offering.
The global sales engagement platforms market size is projected to grow from US$ 9 billion in 2024 to US$ 25 billion by 2031
This rapid growth is underpinned by the need for efficient sales processes and the shift towards data-driven approaches. Sales engagement platforms offer tools that help sales teams engage prospects and customers throughout the sales cycle, ultimately leading to increased conversion rates and improved sales outcomes.
The global sales engagement platform market is witnessing significant growth, driven by the rising demand for solutions that streamline communication with potential customers while increasing overall sales efficiency. Sales engagement platforms serve as centralized hubs for automating and monitoring multiple sales activities, such as lead nurturing, customer outreach, and sales analytics. By integrating with CRM systems and other sales tools, these platforms help sales professionals prioritize tasks, improve workflows, and optimize customer engagement.
Key Drivers of Market Growth
Data-Driven Sales Approaches: Companies are shifting towards data-driven strategies to optimize their sales processes. Sales engagement platforms provide advanced analytics and reporting, allowing sales teams to track prospect behavior, monitor campaign performance, and make informed decisions that drive success.
Remote Work and Distributed Teams: The growing trend of remote work and dispersed sales teams, particularly in markets like India, has led to an increased need for platforms that support effective communication and collaboration. Sales engagement platforms offer tools for remote selling, ensuring consistent sales operations and improved cooperation across teams.
Digital Transformation: The rise of digital transformation, particularly in China, is fueling demand for sales engagement platforms. Businesses are adopting technology to streamline operations and boost client engagement, creating opportunities for sales interaction platforms to optimize sales productivity and maintain competitiveness in the evolving digital landscape.
Business Opportunity
- IT & Telecom Sector: The sector is expected to grow at a CAGR of 16.7% from 2024 to 2031. The high volume of sales activities in this industry drives the need for platforms that automate complex sales processes and optimize workflows.
- SMEs & Large Enterprises: Both small and medium enterprises (SMEs) and large organizations are adopting sales engagement platforms to improve customer engagement, streamline operations, and drive revenue growth.
Regional Outlook
- United States: The U.S. market is expected to grow at a CAGR of 12.5% over the forecast period. The country's shift towards data-driven sales strategies is boosting demand for platforms that provide insights into prospect behavior and sales performance.
- India: With a projected CAGR of 17.2% from 2024 to 2031, the Indian market is seeing increased demand for sales engagement platforms due to the growing trend of remote work and distributed sales teams.
- China: China's market is forecasted to grow at a CAGR of 16.7%, driven by the country's digital transformation efforts. As businesses adopt digital solutions to enhance sales productivity, the need for sales engagement platforms is expected to rise.
Competitive Analysis of the Leading Sales Engagement Platform Market Include
- Outreach
- ClearSlide
- SalesLoft
- Yesware
- Groove
- Cirrus Insight
- InsideSales
- Mixmax
- ToutApp
- VanillaSoft
- DealHub
- Agile CRM
- Veelo
- ConnectLeader
Key Topics Covered:
1. Executive Summary
1.1. Global Sales Engagement Platform Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Global Sales Engagement Platform Market Outlook, 2019 - 2031
3.1. Global Sales Engagement Platform Market Outlook, by Component, Value (US$ Bn), 2019 - 2031
3.1.1. Key Highlights
3.1.1.1. Sales Engagement Platforms
3.1.1.1.1. Cloud-based
3.1.1.1.2. On-Premise
3.1.1.2. Services
3.1.1.2.1. Professional Services
3.1.1.2.1.1. Consulting & Advisory
3.1.1.2.1.2. Integration & Implementation
3.1.1.2.1.3. Support & Maintenance
3.1.1.2.2. Managed Services
3.2. Global Sales Engagement Platform Market Outlook, by Enterprise Size, Value (US$ Bn), 2019 - 2031
3.2.1. Key Highlights
3.2.1.1. Small & Medium Enterprises (SMEs)
3.2.1.2. Large Enterprises
3.3. Global Sales Engagement Platform Market Outlook, by Industry, Value (US$ Bn), 2019 - 2031
3.3.1. Key Highlights
3.3.1.1. IT & Telecom
3.3.1.2. Healthcare
3.3.1.3. Retail & CPG
3.3.1.4. Manufacturing
3.3.1.5. BFSI
3.3.1.6. Travel & Hospitality
3.3.1.7. Automotive
3.3.1.8. Others
3.4. Global Sales Engagement Platform Market Outlook, by Region, Value (US$ Bn), 2019 - 2031
For more information about this report visit https://www.researchandmarkets.com/r/bgpq2b
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