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The global sales intelligence software market is estimated to garner robust revenue by the end of 2031 by growing at a CAGR of ~12% over the forecast period, i.e., 2022 – 2031. Further, the market generated remarkable revenue in the year 2021. The growth of the market can be attributed to the developing e-commerce industry. As of 2021, the sales of retail e-commerce amounted to approximately USD 4 trillion and are projected to reach around USD 7 trillion by the year 2025.
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The global sales intelligence software market is set to grow constantly over the forecast period on account of rising competition. There are many types of sales intelligence tools that have been developed over time to analyze a billion points of data to create sales triggers for organizations. The growth of the global sales intelligence software market is directly interlinked with the growth of artificial intelligence. The total revenue generated by the artificial intelligence industry was estimated to grow at a substantial rate and is projected to reach over USD 1 trillion by the year 2030.
In 2020, the total worth of media and entertainment was estimated to be USD 2.5 trillion and projected to reach USD 3 trillion by the year 2026.
As of 2022, approximately 90% of organizations and businesses were observed to be using some sort of digital initiative.
For instance, more than 75% of the global population noticed to be purchasing goods online in 2020.
In the modern era, a significant number of people are active on social media using the internet and the inclination of using the online methods is rising exponentially. In these circumstances, almost every organization utilizes some sort of sales intelligence software to hike the demand for their products. Hence, such a requirement is anticipated to propel the growth of the market over the forecast period.
In 2022, over 4 billion individuals were noticed to be using the internet across the globe summing up to around 60% of the global population.
Owing to the higher prevalence of the internet, in 2022, around 4.5 billion social media users were found to be active.
The global sales intelligence software market is segmented and analyzed for demand and supply by component into software and service, out of which, the software segment is anticipated to hold the notable share in the global sales intelligence software market during the forecast period on the back of the growing adoption of sales intelligence software. For instance, the business intelligence and analytics software industry was estimated to be approximately USD 20 billion in 2020. Developers of such software are constantly upgrading the requisite natural language processing technology and analytical algorithms to interpret unstructured textual data.
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 the ICT sector has significantly contributed to GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations around the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to 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.
Regionally, the global sales intelligence software market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the 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. The market in the North America region is anticipated to witness noteworthy growth over the forecast period owing to the presence of sales intelligence vendors in higher numbers. For instance, the worth of the artificial intelligence industry (AI) in the region was estimated to be over USD 15 billion in 2021. North America is also stepping forward to fuel the data in the retail segment. Additionally, the growing e-commerce industry of the region is estimated to hike the growth of the market over the forecast period. The value of the e-commerce industry in the region was estimated to be about USD 1 trillion in 2022.
Furthermore, the global sales intelligence market is also expected to grow rapidly in the Asia Pacific region during the forecast period. The growth of the market is ascribed to the spiking investment in sales intelligence and the developing e-commerce and media & entertainment industries. For instance, the media & entertainment industry amounted to around USD 1.5 trillion solely in India in 2021. Such factors are anticipated to hike the growth of the market in the region over the forecast period.
The global sales intelligence software market is further classified on the basis of region as follows:
Our in-depth analysis of the global sales intelligence software market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing utilization in multiple industries such as e-commerce, media & entertainment, and IT is estimated to majorly boost the market growth.
The market is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2022 – 2031.
The possibility of data breaches and the constant need for software maintenance is estimated to challenge the market growth.
The market in North America is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are Zoho Corporation Pvt. Ltd., Yesware, Inc., ZoomInfo Technologies Inc., Oracle Corporation, Gryphon Networks Corp., APIHub, Inc., RingLead, Inc., Dun & Bradstreet, Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
The market is segmented by deployment mode, component, enterprise size, application, end-user industry, and by region.
The software sub-segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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