During the forecast period, the global sales enablement platform market is expected to generate US$ 11 billion while growing at a 16.2% CAGR. The market is expected to be worth $2 billion in 2021 and $2.4 billion in 2022. The market’s expansion can be attributed to the widespread use of the sales enablement platform for increasing sales revenue.
The increasing use of sales enablement platforms in end-use industries such as manufacturing, healthcare and life sciences, media and entertainment, information technology and telecommunications, and financial services are expected to drive market growth during the forecast period. Some of the factors driving the market growth during the forecast period include increased emphasis on adopting sales enablement platforms and increased demand for improving internal sales processes.
Rapidly changing consumer preferences as a result of lifestyle changes, as well as the need for sales enablement platforms to provide a customer-centric experience, are all major factors influencing the market growth.
- By 2032, the Platform segment is expected to grow at a 16.1% CAGR.
- Cloud-based deployment models are expected to grow at a 15.9% annual rate during the forecast period.
- From 2022 to 2032, the US market will be worth $3.9 billion, with a 16.0% CAGR.
- China’s market will acquire US$ 794.2 million, growing at a 15.6% annual rate during the assessment period.
Analysis of Competitors
UPLAND SOFTWARE INC., SEISMIC, HIGHSPOT, BIGTINCAN, and MINDTICKLE are among the companies operating in the global sales enablement market. Furthermore, vendors are likely to use product differentiation and up-gradation to gain a competitive advantage in the market.