In 2022, the Salesforce services market is expected to achieve a value of US$ 13 billion, with a CAGR of 14.4% expected to reach US$ 33.5 billion by 2029. Salesforce services have a 2% market share in the worldwide IT services market right now. The increasing acceptance of salesforce services in the BFSI industry is driving the market growth.
North America is a hotbed of service provider opportunities.
According to the survey, Salesforce service usage in the BFSI sector is expected to continue to grow, making it one of the most attractive verticals for Salesforce service providers. BFSI has shifted its focus throughout the years to successful consumer engagement in real-time and across any device. As a result, demand for Salesforce services in the BFSI sector is increasing, providing new chances for Salesforce service providers to profit.
According to the report, Salesforce services have a bright future in North America, particularly in the United States. Furthermore, by the end of 2029, the popularity of Salesforce services in Western Europe is expected to increase, which will likely drive companies to strengthen their service capabilities.
Strategic business partnerships and acquisitions will continue to be the best path forward for suppliers in terms of growth and expansion. Those partnerships will lay the groundwork for bespoke inventions to emerge, resulting in a ‘win-win’ situation for both sides.
Competitive Environment
The nature of the market has become fairly competitive as a result of the large number of organizations actively providing salesforce services. Some of the leading salesforce service businesses are SAP SE, Oracle Corporation, Microsoft Corporation, Salesforce.com Inc., Adobe Inc., DXC Technology, Accenture PLC, IBM Corporation, Pegasystems Inc., Verint Systems Inc., Tata Consultancy Services Limited, and AT&T Inc.
