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Partner Relationship Management (PRM) Software Market Analysis by Type (Standalone Software and Integrated Software); by Application (On-Premises and Cloud-based); by Enterprise {Large Enterprises and Small and Medium Enterprises (SMEs)}; and by Industry (BFSI, IT and Telecom, and Others)– Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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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.

Global Partner Relationship Management (PRM) Software Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Base Year

2021

Forecast Year

2022-2031

CAGR

~13%

Base Year Market Size (2021)

~USD 1 Billion

Forecast Year Market Size (2031)

~USD 4 Billion

The global partner relationship management (PRM) software market is estimated to garner a revenue of ~USD 4 billion by the end of 2031 by growing at a CAGR of ~13% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 1 billion in the year 2021. 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.

Partner-Relationship-Management-Software-Market-Size

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Partner relationship management can be described as the strategies, software and web-based capabilities used and required by companies to smoothly manage business relationships between themselves and the partners and distributors who market them and sell their products. It helps partners get controlled access to leads, joint opportunities, affiliate links, deals, sales metrics, and up-to-date documents of their partner programs and facilitates automation of activities of the companies related to working with their distributor, reseller, managed service providers (MSPs), and value-added resellers (VAR) partners to drive better channel sales by reselling their products and services. With the recent advancements in solutions and software for business automations as well as surge in co-selling with increasing digital transformation of businesses, the demand for partner relationship management (PRM) software is on the rise amongst the digital businesses, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global partner relationship management (PRM) software market during the forecast period. For instance, the total spending on global digital transformation (DX) is expected to reach more than USD 1.8 trillion by the end of 2022.

Global Partner Relationship Management (PRM) Software Market: 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

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 2031, backed by increasing demand of 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.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Research-and-Development-Expenditure

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 Partner Relationship Management (PRM) Software Market Regional Synopsis

Regionally, the global partner relationship management (PRM) software market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2031, 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 United States.

Partner-Relationship-Management-Software-Market

The global partner relationship management (PRM) 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 partner relationship management (PRM) software 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
 

Top Featured Companies Dominating the Global Partner Relationship Management (PRM) Software Market

  • 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.

 

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