Partner Relationship Management (PRM) Software Market size was over USD 128.03 Million in 2023 and is poised to exceed USD 649.08 Million by the end of 2036, growing at over 13.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of partner relationship management software is evaluated at USD 143.36 Million. The growth of the market can primarily be attributed to the rising influence of digitalization and increasing revenue of the information technology (IT) industry worldwide. According to estimates, the information technology industry globally is estimated to be worth more than USD 5 trillion in 2020.
The need to lower costs, automate routine tasks, and build new alliances in order to increase channel revenue and scale is often what drives vendors to use a PRM solution. Partners could also be managed service providers or integrators. A PRM system is concentrated on getting a partner to sell on your behalf, as opposed to customer relationship management systems, which are designed to get an end customer to make a purchase from you. As a result, they frequently provide partner resellers with web-based self-service tools, data, and resources. This aids vendors in streamlining procedures as well as in gathering and analyzing information about different phases of the partner sales funnel.
Growth Drivers
Upsurge in the Businesses Conducted Online - With the rising trend of shared business ecosystems and co-selling in online businesses, partner relationship management (PRM) provides businesses with tools to track affiliates and sales partners and for those partners to communicate with and receive support from the business. The surge in online business is expected to boost the market for software like PRM. For instance, it was found that approximately 25% of business was conducted online in 2022.
Growing Marketing Automation – More than 55% of companies are currently using marketing automation and about 40% of B2B companies are planning to adopt the automation technology.
Increasing E-Commerce - According to recent data, globally, e-commerce sales are estimated to reach ~USD 6.5 trillion by 2023.
Rising Number of Internet of Things (IoT) Connected Devices – According to recent data, globally IoT connected devices are estimated to reach 30 billion by 2031, up from about 8 billion in the year 2019.
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
13.3% |
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Base Year Market Size (2023) |
USD 128.03 Million |
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Forecast Year Market Size (2036) |
USD 649.08 Million |
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Regional Scope |
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Application (On-Premises, Cloud-based)
The global partner relationship management (PRM) software market is segmented and analyzed for demand and supply by application into on-premise and cloud-based. Amongst these segments, the cloud-based segment is anticipated to garner the largest revenue by the end of 2036, backed by the increasing demand for cloud-based PRM software as it aids with automating sales process, centralized database and enhanced security as well as the growing cloud traffic worldwide. For instance, more than 90% of total data center traffic in 2021, were global cloud data center traffic.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Application |
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By Enterprise |
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By Industry |
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North American Market Forecast
The North America partner relationship management (PRM) software market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. backed by the rising automation of businesses along with increasing e-commerce in the region as well as growing business-to-business (B2B). For instance, it was found that, in 2021, the business-to-business (B2B) e-commerce revenue reached approximately USD 6.6 trillion in the United States.
Oracle Corporation
Oracle Corporation - NetSuite is being selected by Big Ray’s, to support its growing segments, and its expanding portfolio of products and manufacturing partners. Big Ray’s had been selling, throughout the U.S. through an ecommerce store and five brick-and-mortar locations and needed to replace its legacy business systems. It has selected Oracle's NetSuite to manage its financials, inventory and order management, point-of-sale, and ecommerce processes on a single system.
ZINFI Technologies Inc., - introduced Automated Partner Onboarding Management which allows organizations to automate the entire partner onboarding process, guiding partner users through a series of sequential steps and through various achievement levels and thereby has expanded its Partner Relationship Management Platform.
Author Credits: Abhishek Verma
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