Global Lead-to-Account Matching and Routing Software Market Size, Forecast, and Trend Highlights Over 2022 - 2031
The global lead-to-account matching and routing software market is estimated to garner a revenue of ~USD 2 billion by the end of 2031 by growing at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 800 million in the year 2021. The growth of the market can primarily be attributed to the increasing number of lead generated for businesses and services which can be attributed to the growing number of websites worldwide. It was found that, there were more than 1.90 billion websites worldwide, by March 2022.
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Lead-to-account matching and routing software uses logic to automatically match leads to the specific account in real time and then routes the lead to the appropriate sales. It provides increased productivity and efficiency in the overall performance as it frees up manual resources for other activities. In addition to this, it also it enhances customer experience and engagement and hence promotes revenue flow for organizations. The demand for lead-to-account matching and routing software is on the rise amongst the digital businesses with rising digitization worldwide, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global lead-to-account matching and routing software market during the forecast period. It is estimated that, approximately 60% of the global GDP is to be digitized, by the end of 2022.
Global Lead-to-Account Matching and Routing Software Market: Growth Drivers and Challenges
Growth Drivers
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Growing Number of Business Website Visitors – Growing number of lead generations for businesses is responsible to escalate the demand for lead-to-account matching and routing software. The software uses different tools and techniques to decide whether the lead is a good match for an existing account, further filtering and prioritizing the leads accordingly. It was observed that, business websites on an average received approximately 1500 – 2500 visitors per month to their site.
- Upsurge in the Number of Email-users – It has been estimated that, in 2022, there are approximately 4 billion email users worldwide.
- Increasing Number of Social Media Users –It has been observed that, approximately 59 % of the global population used social media, by July 2022.
- Growing Penetration of Internet –As of 2022, there are more than 4.5 billion active internet users worldwide estimated.
Challenges
- Stringent Privacy Policy and Security Regulations
- Concern of Poor Lead Acquisition
- Efficiency and Scalability of the Algorithms
The global lead-to-account matching and routing software market is segmented and analyzed for demand and supply by application segment into on-premises and cloud. Amongst these segments, the cloud segment is anticipated to garner the largest revenue by the end of 2031, backed by the increasing use of cloud-based storage amongst businesses with the surge in cloud computing technology and growing cloud traffic worldwide. For instance, global cloud data center traffic was reported to represent more than 90% of total data center traffic in 2021.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global Lead-to-Account Matching and Routing Software Market Regional Synopsis
Regionally, the global lead-to-account matching and routing software market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in North America is projected to hold the largest market share by the end of 2031, backed by the presence of growing digitalization of products, businesses and services, as well as the rising e-commerce in the region. According to the Census Bureau of the Department of Commerce, in United States, the estimated retail e-commerce sales in the first quarter of 2022 was estimated to be ~USD 250 billion.
The global lead-to-account matching and routing software market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global lead-to-account matching and routing software market includes the following segments:
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Top Featured Companies Dominating the Global Lead-to-Account Matching and Routing Software Market
- LeanData, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Groove Labs Inc.
- RingLead Inc.
- TrustRadius
- Openprise Inc.
- Eustace Consulting, Inc.
- Leadspace Inc.
- Bizible Inc.
- Caliber UX, Inc. dba CaliberMind
- SugarCRM Inc.
