According to newmarket research report on "SalesEnablement Platform Market by Component(Platform And Services), Organization Size, Deployment Type, Industry Vertical(BFSI, IT & Telecom, Consumer Goods & Retail, Healthcare & LifeSciences, Manufacturing), and Region - Global Forecast to 2024" The global sales enablement platform market size isexpected to grow from USD 1.1 billion in 2019 to USD 2.6 billion by 2024, at aCompound Annual Growth Rate (CAGR) of 19.8% during the forecast period.
The growing demandto improve internal sales process, scaling sales effort with the help ofadvanced technology, and increasing sales deal closure rates are some of themajor factors driving the growth of the sales enablement platform market.
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BFSI vertical to hold the largestmarket size in the global sales enablement platform market during the forecast period
The Banking,Financial Services, and Insurance (BFSI) vertical is undergoing massivedisruption, driven by regulatory changes and competitive pressures. With theadvent of mobile technology, customers’ preferences and behavior are changing.Today, digital banking applications have grabbed a large share of customertransactions. Enterprises are emphasizing on adopting the sales enablementplatform to boost the performance of their sales and marketing representativeswhich leads to better customer satisfaction and engagement.
The servicessegment to grow at the highest CAGR during the forecast period
Sales enablementplatform services have a wide scope of usage, ranging from assistance to clientfor deployment of platform, strategy and implementation, to cater tobusiness-specific needs of organizations. Sales enablement services helpbusinesses bridge legacy systems to modern applications, and take care oftraining and implementation work so that client can focus on their corebusiness. This has created opportunities for vendors to provide services toenterprises across different industry verticals and help them deal withcomplexities while configuring the sales enablement platform.
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North America tohave the largest market size during the forecast period
North America isestimated to account for the highest share of the market in 2019. The regioncomprises developed countries, such as the US and Canada, and is considered themost advanced region in terms of adopting digital technologies. The NorthAmerican region exhibits a wide presence of key industry players offering salesenablement platform and services and its financial position enables it toinvest majorly in leading tools and technologies for effective businessoperations.
Some of the majorvendors in the Sales Enablement Platform Market are SAP (Germany), Bigtincan(US), Upland Software (US), Highspot (US), Seismic (US), Showpad (Belgium),Brainshark (US), ClearSlide (US), ClientPoint (US), Accent Technologies (US),Quark Software (US), Bloomfire (US), Qorus Software (US), Pitcher(Switzerland), Mediafly (US), Rallyware (US), MindTickle (US) and Qstream (US).
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