According to a new market 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, the Sales Intelligence Market 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.
Browse and in-depth TOC on “Sales Intelligence Market”
110 – Tables
34 – Figures
157 – Pages
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With new trends and technologies, the need for improving sales funnel, and managing prospect and lead information to cater the buyers as per their requirements effectively is driving sales professionals to adopt sales intelligence software. Sales intelligence software enable sales departments to manage their leads, enrich their customer database, and understand the buying behavior of their customers, which in turn, improves their sales revenue. As sales intelligence has eased the workflow of organizations, its application and developments have increased across various regions.
The lead management application is projected to grow at the highest CAGR in the sales intelligence market. Companies that require effective lead management tools are increasingly adopting sales intelligence software for lead management, as it covers the 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.
BFSI vertical is estimated to grow at the highest CAGR in the sales intelligence market during the forecast period. With the rising rate of financial crimes, such as money laundering, fraud, tax evasion, forgery, and counterfeiting, the BFSI companies require a robust software that can provide them with holistic visibility into their customer and lead lists. Sales intelligence software is one such software that provides information on companies that are at the risk of becoming bankrupt, and delivers the detailed financial capability of customers to help companies proactively and target their customers with personalized campaigns. Owing to this, the demand for sales intelligence software among BFSI companies is expected to increase in the future.
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The geographic analysis of the sales intelligence market is mainly segmented into 5 regions, namely, North America, Europe, APAC, MEA, and Latin America. North America is expected to be the overall leader in the adoption and implementation of sales intelligence, followed by Europe and APAC. The presence of major sales intelligence providers in the region and increasing investments by North American companies in advanced technologies, would drive the market growth for North America. Moreover, rising technological sophistication, technology adaptation, and increasing demand in the region for effective prospecting and targeting software to improve sales productivity are expected to drive the high growth of the sales intelligence market in APAC. The market players are also expanding their data coverage on these regions to help the APAC companies identify potential leads and acquire new customers in their 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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