Sales Performance Management Market - Growth, Trends, and Forecast (2019 - 2024)

The Sales Performance Management Market is segmented by Solution (Incentive Compensation Management, Territory Management, Sales Analytics), Deployment (On-premise, Cloud), Services (Professional Services, Managed Services), End-user Vertical (BFSI, Manufacturing, Energy and Utility, Healthcare), and Geography.

Market Snapshot

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Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

13.09%

Key Players:

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Market Overview

The sales performance management market was valued at USD 2,503.3 million in 2018 and is expected to register a CAGR of 13.09% over the forecast period, 2019-2024. Sales performance management provides tools and information required by the sales representatives (ensures efficiency and accuracy). According to IBM, USD 1.4 million was saved through a 90% reduction in overpayments with incentive compensation management tools. It also resulted in achieving a 204% ROI. 

  • The increasing need for accurate measurement and tracking of sales metrics, early adoption of the technology, and mitigation for IT staff are expected to drive the market growth over the forecast period.
  • The companies are demanding a customizable, streamlined, and flexible system to manage and offer analytics based on their sales performance, which is likely to boost the market growth over the next six years.
  • Smartphones and tablets are increasingly incorporated as sales performance management components to easily offer the aforementioned facilities and ascend the functionality, which is projected to augment the market.
     

Scope of the Report

Sales performance management is utilized by various organizations to reduce processing time and error at a significant rate. This tool helps in tracking the opportunities created and the number of client conversations made by a respective salesperson. It also offers extensive analytics associated with business evaluation and sales anticipation, which are crucial for business development and forecast sales. 

By Solution
Incentive Compensation Management
Territory Management
Sales Monitoring & Planning
Sales Analytics
Other Solutions
By Deployment Type
On-premise
Cloud
By Service
Professional Service
Managed Service
By End-user Vertical
BFSI
Manufacturing
Energy & Utility
Healthcare
Other End-user Verticals
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Market Trends

Manufacturing to Exhibit Significant Growth

  • Global car sales grew by about 2.2% globally in 2017. The number of automotive sales accounted to about 20.9 million in Europe and 48.9 million in APAC/Middle East, an increase from 20.1 million and 46.9 million respectively in 2016. Owing to such an increase in the growth of car sales the sales structure has to be streamlined to ensure growth.
  • Many markets, such as North America and Europe, have been closer to maturing, and sales in such highly competitive environments need SPM software to provide the employees with incentives and attain cost cutting insights.
  • Electronics growth has also been on the rise globally, and the number of products in the market is also increasing. Many investments such as those from Apple and Amazon in India have further indicated the growth of such products in the market. 
  • Owing to such increase in the number of Stock Keeping Units (SKU), SPM solutions are further required to streamline sales for the company and differentiate product offerings with the help of tools, such as territory management and sales analytics.
  • Consumer goods have also been increasing in their purchase. Many of the mature markets, such as North America, have a high competitive atmosphere, and the adoption of SPM solutions is expected to spur growth and streamline sales of a particular company.
     
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North America to Hold Major Share

  • North America is the largest economy in the world. The newly found investments from the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) for 2019-2024 in the United States are presenting new opportunities.
  • The program is expected to allow offshore exploratory drilling in about 90% of the OCS acreage, which brings a positive outlook to all the secondary markets, like BFSI, logistics, and manufacturing in the region, increasing opportunity for the sales force to compete for providing required machinery and, in turn, increasing the demand for SPM.
  • The region is well known as the hub for major consumer electronics and software giants in the world, like Google, Microsoft, SAP, and Oracle. These companies actively contribute to the demand for SPM in the region as they invoke severe marketing strategies to gain clients from all over the world.
     
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Competitive Landscape

The sales performance management market has gained a competitive edge in recent years. In terms of market share, few of the major players currently dominate the market. These major players, with a prominent share in the market, are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and profitability.

  • January 2019 - CDk Global Inc. announced a comprehensive and enhanced service model "Customer Success" designed to help dealers operate more effectively and build stronger relationships with customers while leveraging data to drive business improvements. 
  • February 2018 - NICE unveiled a new version of NICE Satmetrix NPX, the company's cloud-based customer feedback, and loyalty (CLS) solution. The release will deliver an end-to-end view of customer experience by unifying direct feedback from omnichannel surveys and indirect feedback from text or voice conversations with operational or behavioral data imported from a variety of other customer data sources.

Major Players

  1. Oracle Corporation
  2. IBM Corporation
  3. Xactly Corporation
  4. SAP SE
  5. Salesforce.com Inc.

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness Porter's Five Forces Analysis

      1. 4.2.1 Threat of New Entrants

      2. 4.2.2 Bargaining Power of Buyers/Consumers

      3. 4.2.3 Bargaining Power of Suppliers

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Introduction to Market Drivers and Restraints

    4. 4.4 Market Drivers

      1. 4.4.1 Demand for Improved Sales Channel and Performance

      2. 4.4.2 Increasing Demand For Sales Mobility (BYOD)

    5. 4.5 Market Restraints

      1. 4.5.1 Lack of Awareness and Altering Organizations Structure

  5. 5. TECHNOLOGY SNAPSHOT

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Solution

      1. 6.1.1 Incentive Compensation Management

      2. 6.1.2 Territory Management

      3. 6.1.3 Sales Monitoring & Planning

      4. 6.1.4 Sales Analytics

      5. 6.1.5 Other Solutions

    2. 6.2 By Deployment Type

      1. 6.2.1 On-premise

      2. 6.2.2 Cloud

    3. 6.3 By Service

      1. 6.3.1 Professional Service

      2. 6.3.2 Managed Service

    4. 6.4 By End-user Vertical

      1. 6.4.1 BFSI

      2. 6.4.2 Manufacturing

      3. 6.4.3 Energy & Utility

      4. 6.4.4 Healthcare

      5. 6.4.5 Other End-user Verticals

    5. 6.5 Geography

      1. 6.5.1 North America

      2. 6.5.2 Europe

      3. 6.5.3 Asia-Pacific

      4. 6.5.4 Latin America

      5. 6.5.5 Middle East & Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Callidus Software Inc.

      2. 7.1.2 Oracle Corporation

      3. 7.1.3 IBM Corporation

      4. 7.1.4 Xactly Corporation

      5. 7.1.5 SAP SE

      6. 7.1.6 Salesforce.com Inc.

      7. 7.1.7 Globoforce Limited

      8. 7.1.8 Optymyze

      9. 7.1.9 CDK Global Inc.

      10. 7.1.10 NICE Ltd.

      11. 7.1.11 Anaplan, Inc.

      12. 7.1.12 BEQOM SA

      13. 7.1.13 Iconixx Corporation

      14. 7.1.14 Incentives Solutions

      15. 7.1.15 Axtria Inc.

      16. 7.1.16 Obero Inc.

      17. 7.1.17 Performio Solutions Inc.

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. MARKET OPPORTUNITIES AND FUTURE TRENDS

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