Growth opportunities in the sales performance management market look promising over the next six years. This is mainly due to the continuous innovation in SPM market to encourage the players to raise investment in audio-video conferencing tools.
Sales Performance Management Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The augmenting automation to enhance visibility and evade calculation mistakes is one of the most prominent drivers responsible for the growth of the global sales performance management market. The sales department experiences pressure for automating reward plans and compensations, territory mapping with continuous digitalization, and performance appraisals. In accordance with the 2019 Sales Compensation Administration Best Practice Study by Xactly, approximately 83% of the organizations faced challenges concerned with payment miscalculation on an average rate of higher than five percent.
The incorporation of audio-video conferencing application programming interfaces to raise productivity and personalization has strengthened the market size. The ongoing advancement in the SPM market has persuaded the players to emphasize investing in audio-video conferencing tools or Application Programming Interfaces (APIs) to allow the customer-agent engagements and collect live interactions for the recognition of opportunities. Oracle, in 2020 integrated Zoom with its Oracle Fusion Cloud Customer Experience (CX) to enable sales and other teams to comprehend video into its existing process. NICE, in 2020 amalgamated its platform with Zoom and RingCentral to provide unified solutions for allowing remote employee collaboration and distributed virtual contact centers. However, as per the sales performance management market analysis, the doubtfulness among small and medium-sized enterprises to elude extra costs or change the organization structure curbs market growth.
Deployment Type Segment Drivers
Based on the deployment type, the on-premises are projected to witness a higher CAGR during the forecast period. This is mainly because of the augmenting demand for customized solutions according to the business needs, especially in large enterprises, and cooperation with data safety and privacy concerns.
Regional Drivers
Based on the regional coverage, North America is predicted to expand at a faster CAGR during the forecast period. This is primarily attributed to the excessive economic prospects accompanied by the growing adoption of modern technologies and high digital acquisition at workplaces to improve business processes. Moreover, the US and Canada are increasingly choosing SPM solutions, and the prevalence of SPM solution providers, including SAP SE, Xactly, Varicent, are propelling the sales performance management market share.
Sales Performance Management Market’s leading Manufacturers:
- com, Inc.
- Incentives Solutions Ltd.
- Beqom
- Anaplan, Inc.
- Oracle
- Optymyze
- Performio
- Varicent
- NICE
- SAP SE
Sales Performance Management Market Segmentation:
Segmentation by Component
- Solutions
- Incentive Compensation Management
- Territory Management
- Sales Planning and Monitoring
- Others
- Services
- Consulting
- Integration and Implementation
- Training and Education
- Support and Maintenance
Segmentation by Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises
Segmentation by Deployment Type
- On-Premises
- Cloud
Segmentation by Vertical
- Manufacturing
- Consumer Goods and Retail
- Healthcare and Pharmaceuticals
- Energy and Utilities
- Travel and Hospitality
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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