According to a new market research report “Sales Performance Management Market by Component (Solutions and Services), Organization Size (Large Enterprises and SMEs), Deployment Type (On-premises and Cloud), Vertical (BFSI, Telecommunications, and Manufacturing), and Region – Global Forecast to 2026″, published by MarketsandMarkets, the market size is projected to grow from USD 1.5 billion in 2020 to USD 3.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.9% during the forecast period. The demand for SPM is driven by growing automation to improve visibility and avoid incentive compensation calculation inaccuracies, rising demand for metric-driven sales tools, and increasing enterprise mobility to increase agent engagement and performance.
Browse and in-depth TOC on “Sales Performance Management Market”
196 – Tables
43 – Figures
232 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=252216710
The solutions segment to hold a larger market size during the forecast period
The solutions segment is projected to contribute majorly to the market among the components, while the services segment is projected to witness a higher growth rate during the forecast period. This growth is supported by the growing need for minimizing—commission payout inaccuracies and low quota attainment issues, and the lack of visibility into incentives and employee performance. Factors such as voluntary sales turnovers, the increase in digitalization, and the rise in enterprise spending on CRM sales applications for providing training to their employees have also contributed to the high adoption of the SPM solutions.
Sales Planning and Monitoring segment to hold the largest market size in 2020
The growth of sales planning and monitoring segment is mainly attributed to the high demand for planning capacity; allocating budgets; setting long-term goals, sales quotas, and KPIs; and monitoring sales targets, forecasts, and revenues to define and stimulate sales efforts.
Request a Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=252216710
North America to hold the largest market size during the forecast period
The North American SPM market is already mature for SPM solutions, owing to North America’s strong economic landscape, early adoption of advanced technologies, high digital adoption at workplaces to improve business processes, and high technology awareness. Furthermore, the region constitutes developed economies, such as the US and Canada, which have fairly adopted SPM solutions, besides incorporating advanced technologies. The region is also home to several small as well as well-established SPM solution providers, such as SAP, Anaplan, Oracle, Xactly, and Varicent, which are among the key driving factors for the growth of the SPM market in the region.
Market players profiled in this report include SAP (Germany), Oracle (US), Xactly (US), Anaplan (US), NICE (Israel), Varicent (Canada), beqom (Switzerland), Performio (US), Incentives Solutions (Israel), Optymyze (UK), Salesforce (US), Iconixx (US), Axtria (US), Gryphon Networks (US), CellarStone (US), ZS (US), Board (Switzerland), Zoho (India), InnoVyne (Canada), and XANT (US) among others. These players offer various SPM solutions to cater to the demands and needs of the market. Major growth strategies that are adopted by the players include new product launches/product enhancements and partnerships/acquisitions.
Browse Adjacent Markets @ Software and Services Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.