The sales enablement platform market is expected to be valued at US$ 2,700.49 million in 2024. The market’s progress is projected to be invigorating from 2024 to 2034, with a CAGR of 16.20%. By 2034, the market value is forecasted to hit 12,120.03 million.
The sales enablement platform market has been experiencing significant growth in recent years, with increasing adoption by businesses across various industries. Sales enablement platforms are software tools that facilitate the sales process by providing sales teams with the necessary resources and information to effectively engage with prospects and close deals.
Increasing demand for sales enablement platforms is the growing complexity of the sales process. As businesses become more global and more competitive, sales teams need to be able to navigate increasingly complex buying processes and engage with customers across a wide range of channels and touchpoints. A sales enablement platform can help by providing sales reps with the insights, training, and content they need to be successful in these complex environments.
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There is a considerable need for greater alignment between sales and marketing. In many organizations, these two functions operate in silos, which can lead to inefficiencies and missed opportunities. A sales enablement platform can help by providing a single source of truth for both sales and marketing teams, enabling them to collaborate more effectively and share resources more efficiently.
The increasing importance of data-driven decision-making is also contributing to the growth of the sales enablement platform market. Sales enablement platforms typically include robust analytics capabilities, allowing sales teams to track their performance and identify areas for improvement. This data can also be used to inform broader business decisions, such as product development and marketing strategy.
“With the rise of remote work, sales teams need tools that can help them collaborate and communicate effectively across different locations and time zones. Sales enablement platforms provide a centralized platform for sharing information and collaborating on sales strategies, regardless of where team members are located. “Says an analyst at FMI.
Key Takeaways from the Sales Enablement Platform Market
- The sales enablement platform market is estimated to register a CAGR of 16.20%, reaching a valuation of 12,120.03 million by 2034.
- The on-premises sales enablement platforms segment is anticipated to dominate the market by holding a 54.30% market in 2024.
- The sales enablement platform industry in the United States is estimated to develop at a CAGR of 14.10% through 2034.
- The sales enablement platform industry in Germany is forecasted to increase at a 7.50% CAGR through 2034.
- The sales enablement platform industry in China is anticipated to develop at a CAGR of 18.30% through 2034.
- The sales enablement platform industry in Japan is projected to inflate at a CAGR of 8.40% through 2034.
Competitive Landscape
Organizations are taking steps to enhance the customer experience through creative marketing strategies. To meet the needs of their users, various developers are currently improving their platform’s performance. The stakeholders and participants are striving to enhance their market-generating capabilities. To gain a competitive edge, vendors are expected to differentiate their products and improve their offerings through upgrades.
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Recent Development
In 2022, a strategic partnership has been formed between Mindtickle, a well-known provider of sales readiness technology, and BoostUp.ai, the leading Revenue Operations and Intelligence Platform. With a view to offer an integrated platform that leverages valuable insights on deal and account health to suggest relevant content and enablement programs, the two companies have joined forces. The collaboration aims to empower sales representatives to continually improve their skills and capabilities with each sale, ultimately leading to better organizational performance and increased wins.
Key Segments
By Deployment:
- On-premises Sales Enablement Platforms
- Cloud-based Sales Enablement Platforms
By End User:
- Finance
- Distribution Services
- Manufacturing & Resources
- Services
- Public Sector
- Infrastructure
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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