According to a research report "Sales Intelligence Market by Component (Software and Services), Application (Lead Management, Data Management, Analytics and Reporting, and Others), Organization Size, Deployment Model, Vertical, and Region - Global Forecast to 2024", published by MarketsandMarkets, is expected 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. The key factors driving the sales intelligence market include the imminent need for advanced software to improve customer targeting and connect rates and growing demand for data enrichment software to improve sales conversions.
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Large enterprises segment to hold the largest
market size during the forecast period
Increasing competition and
the rising rate of data decay, compel large enterprises to implement sales
intelligence software for preventing data inaccuracies with data enrichment
capabilities of the software as well as maintain an edge over their
competitors. These data inaccuracies can not only decrease the connect rates of
the companies but can also lead to bad brand image due to wrong targeting.
Furthermore, rising technological proficiency among the large enterprises
further adds to the high adoption of sales intelligence software during the
forecast period.
Services segment to grow at a higher CAGR
during the forecast period
The services segment is expected to
grow at a higher CAGR during the forecast period due to the need of constant
guidance throughout the planning and implementation process, training, and
support among enterprises, during the product deployment life cycle. Services
enable companies to choose the right set of software as well as helps them
deploy software correctly and operate them without hassle.
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North
America to account for the largest market size during the forecast period
Many companies in North America are adopting sales
intelligence software to gain holistic visibility into their customers’ and
prospects’ needs for improving their targeting strategies and sales
productivity. North America is house to some of the major sales intelligence
vendors, such as DiscoverOrg, Dun & Bradstreet, LinkedIn, Oracle,
Demandbase, InsideView, Clearbit, HG Insights, ,LeadGenius, InfoGroup, Zoho and
UpLead. These players have their headquarters, direct sales offices, and a
large number of channel partners in the region to cater to North America, which
has further added to the high adoption of sales intelligence software in this
region.
The sales intelligence market comprises major providers,
such as 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). The study includes the in-depth
competitive analysis of these key players in the sales intelligence market with
their company profiles, recent developments, and key market strategies.
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