Market Overview
The global Sales
Force Automation Market is accounted to generate USD 8 billion of market valuation
by the end of the year 2027. It is further estimated to hold a CAGR of 10%
during the forecast period of 2020 to 2027.
Nowadays, many organizations
are adopting sales force automation to enhance their performance and
productivity, which is boosting up the current market in the forecast period.
Moreover, increased customer satisfaction and demand is one of the major growth
driving factors for the global market. In addition, the increase in employee
efficiency is enhancing the current market growth. Apart from this, the
increased adoption of sales force automation and increasing advanced
technologies across several sectors are bringing lucrative opportunities
for the worldwide market during the forecast timeframe.
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Further, the lockdown
restrictions across various countries have resulted in financial losses and
disturbed the normal industry functioning, which has hampered global market
growth. In addition, the worldwide market growth might face restraints because
of the high cost involved in the sales force automation’s implementation.
Moreover, the global Sales Force Automation Market might experience
major challenges due to the lack of skilled workers for managing the sales
force automation.
Market Segmentation
According to the
SalesForce Automation Market report, the global market has been segmented
into different segments on the basis of software, function organization type,
and end-users.
On the basis of the software
segment, the global market has been classified into an on-premise sales force
automation system, a cloud-based sales force automation system, and a SaaS or
software-as-a-service salesforce automation system. Based on the organization
type segment, the worldwide market is fragmented as small-scale enterprises,
large-scale enterprises, and medium-scale enterprises.
In terms of the end-user
segment, the Sales Force Automation Market has been segregated into
different sectors, including media and entertainment, automotive, healthcare,
BFSI, financial sector, and others. Among all segments, the BFSI segment is
projected to hold the leading position in 2016, and further, it is estimated to
continue the same in the upcoming years.
Regional Analysis
Based on regional segment,
the Sales Force Automation Market has been spread across various parts
such as North America, Asia-pacific, Europe, and others.
Of these, North America is
predicted to acquire the largest market share in the assessment timeframe. This
region is propelling market growth due to the presence of leading market
players in the region. Also, the increased customized solutions development for
elevating customer satisfaction is another major driving factor fueling the
regional market growth.
Furthermore, the European
region is expected to grow rapidly during the research years. Apart from that,
the Asia-Pacific region consists of countries like India, Japan, and China,
which largely contribute to the sales force automation and expect to contribute
the same in the upcoming years.
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Industry News
In 2019, the market player
Salesforce.com Inc. brought significant updates in its sales force automation
solutions. It is called Lightning, which is proposed to provide more
user-friendly services and to uplift sales productivity in the future.
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