Sales Performance Management Market Growth, Demand and Challenges of the Key Industry Players 2028

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Global Sales Performance Management Market Research Report:

The latest report by IMARC, titled “ SalesPerformanceManagementMarket:GlobalIndustryTrends,Share,Size,Growth,Opportunityan dForecast2023-2028

” finds that the global sales performance management market size reached US$ 4.2 Billion in 2022.

Sales Performance Management (SPM) is a set of analytical and operational functions that assist in automating and uniting back-office operational sales procedures. These functions are designed to automate numerous areas of the corporate performance management processes and encourage salesoriented performance alongside.

It focuses on various aspects, including insights, sales performance, forecasting, gamification, advanced analytics, and quota setting. In recent years, sales performance management has gained momentum due to its extensive adoption in various organizations to enhance their operational efficiency and effectiveness.

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Global Sales Performance Management Market Trends:

One of the primary factors driving the market is the widespread application of SPM solutions during the outbreak of the coronavirus disease (COVID-19) and subsequent restrictions imposed in various nations. SPM solutions allow organizations to automate their business operations and adapt to remote working conditions with the least disruption. Additionally, SPM solutions enable enterprises to design roadmaps for the business and implement strategies efficiently. This also helps them to grow and boosts the acceleration in the rapidly changing market conditions. Other than this, SPM aids in increasing revenue, optimizing planning, enhancing decision-making and sales agility, and predicting sales, thus creating a positive market outlook.

Apart from this, there is widespread utilization of SPM solutions in the banking, financial services, and insurance (BSFI) sector to cater to the challenges of complex credit assignments, high transaction counts, and developing expense models. Furthermore, the augmenting demand for a symbiotic alliance between sales executives and their prospects has catalyzed market growth. Moreover, the extensive adoption of SPM solutions in hospitals to structure and monitor goals information and the rising need for healthcare services are creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 10.3 Billion by 2028, expanding at a CAGR of 16.2% during the forecast period (2023-2028).

Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).

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MarketSummary:

BreakupbySolution:

• Territory Management

• Sales Analytics

• Sales Planning and Monitoring

• Incentive Compensation Management

• Others

BreakupbyServices:

• Consulting Services

• Managed Services

• Training and Support

• Others

BreakupbyOrganizationSize:

• Small and Medium-sized Enterprises

• Large Enterprises

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BreakupbyDeploymentModel:

• On-premises

• Cloud-based

BreakupbyEndUser:

• BFSI

• IT and Telecom

• Retail

• Energy and Utilities

• Travel and Hospitality

• Transportation and Logistics

• Healthcare

• Others

BreakupbyRegion:

• North America

• United States

• Canada

• Asia-Pacific

• China

• Japan

• India

• South Korea

• Australia

• Indonesia

• Others

• Europe

• Germany

• France

• United Kingdom

• Italy

• Spain

• Russia

• Others

• Latin America

• Brazil

• Mexico

• Others

• Middle East and Africa

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CompetitiveLandscapewithKeyPlayers:

• Anaplan Inc

• Axtria Inc.

• beqom SA

• Iconixx Software Corporation

• International Business Machines Corporation

• Microsoft Corporation

• NICE Ltd.

• Oracle Corporation

• Salesforce.com Inc.

• SAP SE

• Xactly Corporation

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