According to a research report "Sales Intelligence Market growth is driven by imminent need for advanced software to improve customer targeting and connect rates, and growing demand for data enrichment software to improve sales conversions. Also to define, describe, and forecast the sales intelligence market by component (software and services), application, deployment model, organization size, vertical, and region - Global Forecast to 2024" published by MarketsandMarkets. The global sales intelligence market to grow from USD 2.0 billion in 2019 to USD 3.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period.
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Software segment to hold a larger market size
during the forecast period
The sales intelligence
market by component covers software and services. The software segment is
estimated to hold a larger market size during the forecast period. This is
mainly due to the integration capabilities of software to integrate with existing
systems, such as Customer Relationship Management (CRM) and marketing platform,
for enabling quality data enrichment and availability of multiple deployment
options. Furthermore, advanced features of sales intelligence software, such as
lead management, data management, analytics and reporting, and messaging and
alerting, fuels the demand for sales intelligence software.
Lead management to hold the largest market
size during the forecast period
The adoption of sales
intelligence software for lead management is high because lead management
provides coverage on entire process starting from lead generation, gathering
insights on leads, and lead scoring to build a comprehensive list of leads.
Lead generation also provides them with effective lead scoring and
account-level insights, thereby helping them improve their prospecting
strategies, which is another factor that adds to the adoption of sales
intelligence for lead management.
Large enterprises to hold the largest market
size during the forecast period
The adoption of sales intelligence
software among large enterprises is high due to increasing competition, and
rising rates of data decay. Sales intelligence software help eliminate such
data inaccuracies with data enrichment capabilities and help companies maintain
edge over their competitors. Furthermore, rising technological proficiency
among the large enterprises further compels large enterprises to adopt sales
intelligence software for improving sales productivity and reducing sales
cycles.
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North
America to account for the largest market size during the forecast period
The
global sales intelligence market by region covers 5 major geographic regions,
namely, North America, Asia Pacific (APAC), Europe, Middle East and Africa
(MEA), and Latin America. North America is expected to account for the largest
market size during the forecast period due to increasing technology adoption
among North American enterprises for improving sales productivity and the
presence of a large number of sales intelligence vendors.
Key
Market Players
The
major players in the sales intelligence market are DiscoverOrg (US), Dun &
Bradstreet (US), LinkedIn (US), Oracle (US), Demandbase (US), InsideView (US),
Clearbit (US), HG Insights (US), LeadGenius (US), Infogroup (US), UpLead (US),
RelPro (US), DueDil (UK), EverString (US), RingLead (US), Gryphon Networks
(US), List Partners (US), FullContact (US), Zoho (US), and Yesware (US).
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