SAN FRANCISCO, July 26, 2023 /PRNewswire/ -- The global sales enablement platform market size is expected to reach USD 12.78 billion by 2030, expanding at a CAGR of 15.8% from 2023 to 2030, according to the new reports of Grand View Research, Inc. The rising need for automated content creation, coupled with increasing internet penetration, is driving the demand for sales enablement platforms. Sales enablement platforms offer telecommunication sales representatives with content and tools to boost internal sales. Both startup and leading tech players deploy sales enablement for lead generation as it enhances workflow and minimizes inter-department bottlenecks.
Key Industry Insights & Findings from the report:
- The platform segment accounted for the largest market share of over 74.2% in 2022 and is anticipated to maintain its dominance over the forecast period. Several organizations across different industries such as BFSI, IT & Telecom, and Healthcare, among others are adopting the use of a sales enablement platform to increase efficiency in aspects such as training, coaching, content management, and sales communication.
- The small and medium organization segment is expected to observe the highest CAGR of 16.1% during the forecast period. The growing adoption of digital sales rooms and video format meetings in sales enablement platforms can help SMEs to improve their business reach.
- The cloud segment is anticipated to witness exceptional growth at a CAGR of 16.9% during the forecast period. Cloud enablement services provide a highly scalable platform that simplifies high-performance computation for both small and large enterprises.
- The consumer goods & retail segment is anticipated to register considerable growth at a CAGR of 18.0% over the forecast period and is expected to maintain its dominance over the forecast period. The rapidly growing retail industry globally is generating demand for sales enablement platforms.
- The North America regional market is expected to account for the largest share of over 29.7% in 2022 and is expected to retain its position over the forecast period. The high presence of key players such as Accent Technologies, Inc.; SAP; and Mediafly coupled with the rise in internet penetration, is driving the demand for sales enablement platforms in the region.
- Key market players have an extended operating history, a large customer base, and significant competitive strengths. In addition to the inorganic growth strategies, vendors emphasize improving after-sale service offerings to ensure periodic maintenance of installed products.
Read full market research report with ToC for more latest insights, "Sales Enablement Platform Market Size, Share & Trends Analysis Report By Component, By Organization Size, By Deployment, By End-use Industry, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Sales Enablement Platform Market Growth & Trends
Furthermore, COVID-19 has increased the penetration of technologies such as AI, IoT, cloud, and machine learning. In addition, the adoption of connected devices for sales enablement has depicted a rise in productivity and sales for sales representatives. For example, tablets have demonstrated the potential to drive revenue by differentiating buying experiences and rectifying sales productivity issues. As per the Sales Management Association study, 70% of sales companies were utilizing tablets to increase positive ROI.
Sales enablement platforms provide sales reps with personalized content, streamlining processes to create a smooth buying experience. The training and coaching can help sales reps to achieve business objectives. The use of advanced technologies such as AI also provides sellers with metrics that can measure growth rates and drive sales. Cloud-based solutions are gaining more traction than on-premise solutions owing to the reduced costs and scalability offered by cloud platforms. Cloud-based servers utilize virtual technologies to host the company's application off-premise.
Factors such as the absence of capital expense, frequent availability of data backup, and pay-as-you-go features make cloud solutions favorable. Several large organizations prefer cloud-based solutions as it has higher appeal to consumers and other business partners. Challenges such as changes in the delivery and distribution of a company's product or technological issues are driving the need for sales enablement platforms for both large and small and medium enterprises. Companies may confront issues such as archaic operating systems that reduce supply capacity which can cause inventory interruptions. Software issues can cause financial costs and lead to production shortfalls.
Sales Enablement Platform Market Report Scope
Report Attribute | Details |
Market size value in 2023 | USD 4.58 billion |
Revenue forecast in 2030 | USD 12.78 billion |
Growth rate | CAGR of 15.8% from 2023 to 2030 |
Base year for estimation | 2022 |
Historical data | 2018 - 2021 |
Forecast period | 2023 - 2030 |
Sales Enablement Platform Market Segmentation
Grand View Research has segmented the global sales enablement platform market based on component, organization size, deployment, end-use industry, and region:
Sales Enablement Platform Market - Component Outlook (Revenue, USD Billion, 2018 - 2030)
- Platform
- Service
Sales Enablement Platform Market - Organization Size Outlook (Revenue, USD Billion, 2018 - 2030)
- Large Organization
- Small & Medium Organization
Sales Enablement Platform Market - Deployment Outlook (Revenue, USD Billion, 2018 - 2030)
- On-premise
- Cloud
Sales Enablement Platform Market - End-use Industry Outlook (Revenue, USD Billion, 2018 - 2030)
- BFSI
- IT & Telecom
- Consumer Goods & Retail
- Media & Entertainment
- Healthcare & Lifesciences
- Manufacturing
- Others
Sales Enablement Platform Market - Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- U.S.
- Canada - Europe
- UK
- Germany
- France
- Italy
- Spain - Asia Pacific
- China
- India
- Japan
- Australia
- South Korea - Latin America
- Brazil
- Mexico
- Argentina - Middle East and Africa
- UAE
- Saudi Arabia
- South Africa
List of Key Players in the Sales Enablement Platform Market
- Accent Technologies, Inc.
- Bigtincan Holdings Ltd.
- Bloomfire
- Brainshark, Inc.
- ClearSlide
- Highspot
- Mediafly
- Mindtickle Inc.
- Pitcher AG
- QorusDocs Ltd.
- Qstream Inc.
- Rallyware Inc.
- SAP
- Seismic
Check out more related studies published by Grand View Research:
- Sales Intelligence Market - The global sales intelligence market size is expected to reach USD 5.03 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 10.5% from 2020 to 2027. Sales intelligence refers to a wide range of technologies, such as marketing automation, used to help organizations find, monitor, and understand sales-related data containing insights into their clients' daily business activities. These tools help gain necessary information and other business traits of the companies by indexing their real-time information from millions of public and open data sources. Sales prospecting is one of the significant advantages of sales intelligence as it helps find the right companies for business based on the characteristics of target companies.
- Sales Force Automation Software Market - The global sales force automation software market size is expected to reach USD 13.82 billion by 2027, expanding at a CAGR of 8.3% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. Rising adoption of cloud technologies for sales force automation (SFA) and demand for sales forecasting applications are the primary drivers for the market growth. There is an increasing demand for streamlining the sales process and efficient use of workforce to stay competitive in the market. Moreover, the increasing complexity in sales management, especially in retail and telecommunication business are driving the need for automation, boosting the market growth.
- Sales Training Software Market - The global sales training software market size is anticipated to reach USD 6.11 billion by 2030, registering a CAGR of 14.0% from 2022 to 2030, according to a new report by Grand View Research, Inc. The industry growth can be attributed to the paradigm shift in the focus of the incumbents of various end-use industries to reduce the time employees spend on repetitive tasks and devote the time saved to other customer engagement and relationship management activities. The sales training software can particularly help end-use enterprises in improving employee productivity, boosting product sales, and utilizing resources efficiently. Benefits associated with the adoption of such software include easy sales content creation and streamlined sales enablement.
Browse through Grand View Research's Next Generation Technologies Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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