Sales Performance Management Market 2021: Key Players, Industry Size, Share, Segmentation, Comprehensive Analysis and Forecast by 2030 with Top Countries Data

Sales Performance Management Market Research Report Information, By Component [Solution (Incentive Compensation Management, Territory Management, Sales Planning & Monitoring, Sales Analytics), Services], Deployment Mode, Vertical – Global Forecast till 2023

Market Synopsis

The global sales performance management market is expected to grow at a CAGR of 16.6% during the forecast period and reach $9.34 billion by 2023

The sales performance management assists the sales fuctionality of retail, banking and financial institutions, manufacturing, IT and telecommunication, and other industries. It consists of solutions such as incentive and compensation management, territory management, sales planning and monitoring, sales analytics and others, which support the sales team. The users receive in-depth insights on sales lifecycle, go-to-market strategy planning with these solutions, and it also automates the sales incentives. The sales performance management market has started evolving in the past few years and is expected to withness a significant growth rate in the upcoming years.

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The major factors that contribute the market growth is the growing adoption of Bring-your-own-devices (BYOD) among enterprises and the increasing demand for improved sales channel and performance. The other factors are need for metrics driven sales tools and the need of indication of process expertise and channel effectiveness. The limited awareness of the sales performance management tools is proving to be a restraint for this market. An opportunity for these solutions is the increasing incorporation of integrated platforms/products in the sales functions of enterprises.

Segmentation

The global sales performance management market is segmented into component, deployment mode, organization size, vertical and region/country.

By component, the global sales performance management is segmented into solution and services. The solutions segment is further divided into incentive compensation management, territory management, sales planning and monitoring, sales analytics and others. The services segment is further divided into consulting, implementation, training and support, and managed services.

By deployment mode, the global sales performance management is segmented into on-premises and cloud.

By organization size, the global sales performance management is segmented into small and medium-sized enterprises (SMEs) and large enterprises.

By vertical, the global sales performance management is segmented into telecommunication and IT; retail; healthcare and pharmaceutical; manufacturing; banking, financial services and insurance (BFSI); travel and hospitality; transportation and logistics; and others.

By region, the global sales performance management market is segmented into North America, Europe, Asia-Pacific, and rest of the world.

Regional analysis

The global market for sales performance management is expected to grow at a CAGR of 16.6% during the forecast period. The geographical analysis of sales performance management market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).

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Among the regions mentioned, North America is anticipated to have the largest market share during the forecast period. High demand from technologically advanced industries such as BFSI and Telecom and IT in North America for sales performance management software is expected to boost the market size. In terms of market size, Europe is expected to follow North America. The increasing demand for improved sales channel and performance of enterprises in Europe, and expansion of various US based sales performance management software companies in Europe are the main factors for Europe to have second largest market share.

Asia Pacific is expected to have fastest growth rate as the demand is projected to rise more than the global CAGR of 16.2% during the forecast period of 2018 to 2023. The developing countries such as India and China are driving the sales performance management market with unceasing growth across diverse sectors such as BFSI, IT and Telecom, manufacturing and retail. Rest of the World region—Latin America along with Middle East & Africa are anticipated to offer numerous opportunities for the vendors as majority of the countries are yet to adopt sales performance management solutions.

Source: MRFR Analysis

Competitive Analysis

The sales performance management market has presence of majority vendors from US which is intensifing the competition in the North American market. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries by adopting various organic and inorganic growth strategies. For instance, in February 2017, Xactly acquired sales performance management provider, Obero.

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Key Players

The key players in the sales performance management market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are— SAP AG (Germany), Salesforce.Com, Inc. (US), Synygy, Inc. (US), Xactly Corporation (US), IBM Corporation (US), Oracle Corporation (US), Callidus Software, Inc. (US), Microsoft Corporation (US), Iconixx Corporation (US), Nice Systems Ltd. (US), Optymyze (US), Anaplan, Inc. (India), Axtria Inc. (US), and Performio Solutions Inc. (US). The key strategies adopted by most of the players are partnerships and agreements, collaborations, and new product releases.

Intended Audience

Sales Performance Management Service/Solution Providers

Financial Advisory/Consulting Firms

System Integrators

Research Institutes and Organizations

Technology Standards Organizations

Venture capitalist/angel investors

Information security directors/managers

Sales managers

Enterprises

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