2024 Sales Intelligence Market Size Estimation | Industry Share, Business Analysis | Growth Opportunities
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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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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