Facts and Factors Market Research has published a new report titled “Sales Force Automation Market By Type (On-Premise and Cloud-Based), By Application (Lead Management, Opportunity Management, Sales Forecasting, and Order & Invoices Management), and By Industry (Healthcare, Automotive, Media & Entertainment, Retail, and Financial Sector): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025”.
According to the report, the global Sales Force Automation market was valued at approximately USD 8,428 million in 2018 and is expected to reach a value of around USD 16,512 million by 2025, at a CAGR of around 10.13% between 2019 and 2025.
Salesforce automation is a mechanized process that comprises of individual parts of business processes commencing from customer contact administration for effectively handling representative execution evaluation and assessment of sales. Moreover, the sales force automation links each part of the business and provides a steady data stream via myriad outlets that in some manner or another need severe conceptualizing at various levels.
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Escalating need for modernizing sales process to drive the market trends
The massive necessity for automating sales process activities including customer relationship management, sales forecasting, lead management, lead generation, and invoice management will steer the market trends. Apart from this, the acceptance of the sales force automation software is predicted to minimize the manual errors and help to raise the operational efficiency of the firm, thereby driving the business growth over the forecast timeline.
Furthermore, growing internet penetration along with the launching of new telecom network technologies like 4G and 5G is predicted to facilitate the up-gradation of the sales data, thereby resulting in a huge demand for sales force automation software over the forecast period. Additionally, the need for detecting the performance of the order status, discount offers, consumer complaints, and customer feedback will further embellish the market demand over the forecast timeline.
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However, the growing concerns over the data loss associated with customer details, sales estimation, and sales order/ invoice along with other price-related information posing risk to the business will adversely impact the market growth over the forecast period. Nonetheless, the rise in the use of cloud-based CRM systems will offer new growth avenues for the market over the forecast timeline.
Cloud-based to dominate the type segment over the forecast period
The growth of the segment during the forecast timeline is owing to an increase in the acceptance of cloud solutions with the need to reduce the maintenance cost & enhance accessibility. In addition to this, large-scale use of cloud-based SaaS (Software-as-a-Service) due to its cost advantages will further drive the growth of the segment during the forecast period.
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Order & invoices management segment to register highest CAGR over the forecast timeline
The order & invoices management segment is set to record the highest growth rate of over 13% during the timespan from 2019 to 2025. The segmental growth is credited to accurate billing & entry of payment details due to sales force automation activities. Moreover, the sales force automation software also helps in integrating & entering the billing & payment information pertaining to outstanding bills into the accounting system, thereby driving the segmental growth.
North America to account for the major market revenue share by 2025
The growth of the regional market over the forecast timeline is owing to massive acceptance of automation activities in the North American sub-continent due to the necessity of minimizing manual work & repetitive tasks and improves the process of sales. In addition to this, the cut-throat competition witnessed in operations management, sales management, and performance management sectors along with large-scale analytics applications will proliferate the regional market growth over the forecast timeline.
Some of the key players in the market include AlphaLogix Ltd., Aptean, Bpm’online, Bullhorn Inc., Freshworks, Inc., Infusionsoft, Infor, Microsoft, Oracle Corporation, Pegasystems, Inc., Salesforce.com, Inc., Zoho Corporation Pvt. Ltd., SAP SE, and SugarCRM, Inc.
This report segments the Sales Force Automation market as follows:
Global Sales Force Automation Market: By Type Segment Analysis
Global Sales Force Automation Market: By Application Segment Analysis
- Lead Management
- Opportunity Management
- Sales Forecasting
- Order & Invoices Management
Global Sales Force Automation Market: By Industry Segment Analysis
- Media & Entertainment
- Financial Sector
Global Sales Force Automation Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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