Partner Relationship Management Market
The Partner Relationship Management Market is proliferating. Rising implementation of Partner Relationship Management (PRM) platforms to submit deal registrations, demo product requests, do online training, download content syndication tools for eCommerce substantiate the market growth. With the rising demand from enterprises to improve partner relationships, the market is projected to witness exponential traction.
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Market Research Future (MRFR), the global partner relationship management market, is projected to reach substantial heights by 2027, growing at a considerable CAGR during the review period (2020-2027). Moreover, increasing implementations in BFSI and IT & telecommunication sectors accelerate the partner relationship management market size.
The increasing use of PRM solutions to manage the external distribution of channels or networks & outside sales and establish better relationships between channel partners and vendors among various industries are key partner relationship management market trends. On the flip side, data privacy and security issues are major growth restrains of the market.
PRM solutions use extensive confidential data to enhance relationships. More often than not, data are quite critical to be shared. Therefore, enterprises hesitate to share any critical data and other information. Also, mobile operators don't want their customer's personal information to get compromised as they fear losing customers. In the past few years, cases of cybersecurity breaches have been rising colossally, posing risks for data security and privacy.
Partner Relationship Management Market - Segmentation
The partner relationship management market forecast is segmented into components, deployment modes, organization size, verticals, and region. The component segment is sub-segmented into services and solutions. The sub-segment solution is further bifurcated as consultation, management, and training & implementation. The deployment mode segment is sub-segmented on cloud and on-premises.
The organization size segment is sub-segmented into medium and small enterprises (SMEs) and large enterprises. The vertical segment is sub-segmented into life sciences and healthcare, BFSI, telecommunication & IT, franchising, and retail and manufacturing. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Global Partner Relationship Management Market - Regional Analysis
North America dominates the global partner relationship management market. The largest market share attributes to the increased adoption of new technological solutions to manage business operations.
Besides, the presence of various leading key players offering adequate & enhanced PRM services and well-established technology development centers in the region fosters regional market growth, allowing advanced PRM technologies. The US and Canada contribute to the growth of the regional market predominantly with the growing demand for better operational efficiency.
Global Partner Relationship Management Market - Competitive Landscape
Highly competitive, the global partner relationship management market appears to be fragmented due to the presence of several key players. To gain a larger competitive share, players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product & technology launch. These players make substantial investments to transform the consumer and business landscape, driving product line expansion and global footprint.
Major Players:
Key players leading the global partner relationship management market are Com Inc (US), Sharework (France), Allbound Inc (US), Magnetrix Corporation (Canada), Oracle Corporation (US), Zift Solutions (US), Channelxperts (Germany), Logicbay (US), Partnerstack (Canada), Allbound Inc (US), Creatio (US), Mindmatrix (US), Affise Inc. (Lithuania), Webinfinity (US), Agentics (Australia), Zinfi Technologies (US), IO (Canada), Kiflo (France), Channeltivity (US), and Impartner (US), among others.
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Industry/ Innovation/Related News
Jun 30, 2021 ---- ZINFI Technologies, Inc. announced receiving leader's title in G2.com's summer 2021 Grid for its partner management software, generating 28 five-star reviews from verified users across multiple industries and geographic regions. ZINFI has moved up in overall rankings in all user segments, including small business, mid-market, and enterprise customers.
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