Partner Relationship Management (PRM) Software Market Size & Share, by Software Type (Standalone, Integrated); Application (On-Premises, Cloud-based); Organization (Large Enterprises, SMEs); End-user (BFSI, IT, Telecom) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4341
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Partner Relationship Management (PRM) Software Market size is expected to reach USD 6 Billion by the end of 2035, growing at a CAGR of 13% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of partner relationship management (PRM) software was USD 113 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.


Partner-Relationship-Management-Software-Market-Size
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Partner Relationship Management (PRM) Software Sector: Growth Drivers and Challenges

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

  • Siloed Partnerships and Siloed Business Processes
  • Possibilities of Accidental Data Exposure
  • Concern about Quantifying Partner Business Results

Partner Relationship Management (PRM) Software Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~13%

Base Year Market Size (2022)

~ USD 113 Million

Forecast Year Market Size (2035)

~ USD 6 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Partner Relationship Management (PRM) Software Segmentation

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 2035, 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:

      By Type

  • Standalone Software
  • Integrated Software

      By Application

  • On-Premises
  • Cloud-based

      By Enterprise

  • Large Enterprise
  • SMEs

       By Industry

  • BFSI
  • IT and Telecom
  • Energy and Utilities
  • Manufacturing
  • Healthcare
  • Retail

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Partner Relationship Management (PRM) Software Industry - Regional Synopsis

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 2035. 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.

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Companies Dominating the Partner Relationship Management (PRM) Software Landscape

top-features-companies
    • Oracle Corporation

      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Salesforce.com Inc.
    • Channeltivity
    • Allbound Inc.
    • Zinfi Technologies Inc.
    • Mindmatrix Inc.
    • Agentics
    • Magnetrix Corporation
    • Kiflo PRM
    • PartnerStack Inc.

In the News

  • 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


  • Report ID: 4341
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The boom in IT industry along with rising digital transformation as well as growing e-commerce are some of the major factors anticipated to drive the growth of the market.

The market is anticipated to attain a CAGR of 13% over the forecast period, i.e., 2023-2035.

Siloed partnerships and siloed business processes along with possibilities of accidental data exposure are some of the factors estimated to hamper the market growth.

The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Oracle Corporation, Salesforce.com Inc., Channeltivity, Allbound Inc., Zinfi Technologies Inc., Mindmatrix Inc., Agentics, Magnetrix Corporation, Kiflo PRM, PartnerStack Inc., and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, application, enterprise, industry and by region.

The cloud-based segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Partner Relationship Management Software Market Report Scope
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