May 27, 2020
According to the research report titled ‘Global Sales Intelligence Market Size study, by Component (Software and Services), Deployment Model (Cloud and On-Premises), by Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), by Application (Lead Management, Data Management, Analytics and Reporting and Others), by Service (Consulting, Integration and Deployment and Training, Maintenance and Support), by Vertical (Banking, Financial Services and Insurance, Consumer Goods and Retail, Information Technology and Telecom, Media And Entertainment, Healthcare and Life Sciences, Manufacturing and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global sales intelligence market was worth USD 2 billion in the year 2019 and is expected to grow with a CAGR of 11.4% during 2020-2026.
For the record, SI (sales intelligence) refers to the data collection, analysis and presentation which can help salesperson in staying up to date with consumer trends as well as detect leads to target new customers. Sales intelligence is a type of technology developed for organizations in private and public sector to monitor, analyze, and learn information as well as enhance brand sales and value in order to offer a competitive edge based on their respective daily operations. Moreover, this technology provides with insights pertaining to the events, technology stack, structure of the department and contacts.
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Growing demand for advanced solutions in order to enhance consumer targeting coupled with rising adoption of data enrichment solutions to optimize sales conversions are major factors driving the sales intelligence market growth. Advancements in SI technologies are also aiding the market expansion. For instance, Dun & Bradstreet Corporation acquired a firmographic data provider Orb Intelligence to offer industry-related data, analytical applications, and advanced technologies to its respective consumers. However, high complexities associated in maintaining data integrity may act as a restraining factor to the sales intelligence market growth in the ensuing years.
As per component, the market is split into software and services. Whereas in terms of deployment model, the sales intelligence market is divided into on-premises and cloud segments. By organization size, the industry is bifurcated into large enterprises, medium-sized enterprises and small, while based on the application spectrum, the market is categorized into analytics & reporting, data management and lead management segments.
Considering the geographical landscape, North America sales intelligence industry is presumed to record remunerative growth during the study period, primarily due to early adoption of SI technologies among enterprises in order to improve sales productivity and high concentration of sales intelligence service providers. Meanwhile, the Asia-Pacific market is expected to grow significantly during the forecast period.
The prominent companies operating in global sales intelligence market are UpLead, Infogroup, LeadGenius, InsideView, Clearbit, Demandbase, Oracle Corp., DiscoverOrg, LinkedIn Corp. and Dun & Bradstreet Corp. among others.