Sales acceleration software is used by organizations to automate and streamline various sales processes such as lead generation, sales opportunity tracking, sales performance management, and others. These solutions enable sales representatives to prioritize activities, focus on key prospects and close more deals in less time. The global Sales Acceleration Software Market is estimated to be valued at US$ 20 Billion in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Increased adoption of cloud-based solutions is one of the major trends driving the growth of the sales acceleration software market. Cloud-based sales acceleration platforms provide various advantages like affordable subscription models, easy deployment, automatic updates, enhanced scalability, and collaborative features. Several software vendors in the market are focusing on developing cloud-based tools to cater to the growing demand. For instance, companies can now access cloud-based sales acceleration tools through SaaS model and leverage robust functionalities without upfront capital investment. This has accelerated the adoption of cloud-based sales acceleration software especially among small and medium enterprises globally.
Segment Analysis
The global sales acceleration software market is dominated by sales engagement solutions which accounts for around 35% share owing to the increasing importance of customer engagement activities across various industry verticals. Sales engagement solutions enable companies to develop strong and long-lasting relationships with customers through effective communication including emails, calls and social media interactions.
Key Takeaways
The global sales acceleration software market is expected to witness high growth over the coming years. Growing digitalization trends and adoption of advanced technologies across organizations are driving several companies to invest in innovative sales acceleration tools to gain competitive advantage.
Regional analysis: North America currently dominates the global sales acceleration software market with over 40% share. Presence of major tech companies and early adoption of emerging technologies among businesses in the US and Canada has boosted the demand. Asia Pacific is expected to offer lucrative opportunities with annual growth rate exceeding 15% during the forecast period driven by rapid digital transformation in countries like China, India and Japan.
Key players operating in the sales acceleration software market are Outreach, Cirrus Insight, HubSpot Sales, Nimble, SalesLoft, Yesware, Gong, Lessonly, LevelEleven, Brainshark and Highspot. Major players are focusing on partnerships and innovations to strengthen their market position and gain access to untapped growth opportunities.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
