PUBLISHER: Grand View Research | PRODUCT CODE: 1363443
PUBLISHER: Grand View Research | PRODUCT CODE: 1363443
The global sales force automation software market size is expected to reach USD 17.94 billion by 2030, growing at a CAGR of 8.7% from 2023 to 2030. The growing adoption of cloud technologies for sales force automation and rising demand for sales forecasting applications are the primary drivers of the sales force automation software market. Further, the adoption of Customer Relationship Management (CRM) software is gaining traction in various industries owing to the changing nature of the software in terms of functionalities and feature sets. Futuristic CRM suites also enable enterprises to gauge business performance and track sales trajectories. Moreover, the increasing adoption of digital transformation across several industry verticals is causing organizations to replace the previous array of solutions required to build, administer, and enhance their digital presence with a unified solution that can serve all functions. These factors would further drive the market during the forecast period.
Workplaces across the globe have seen a significant cultural shift over the past two decades. With a smaller workforce and a growing desire for flexibility, many businesses have realized the importance of focusing more on the different needs of their employees while recruiting as part of the efforts to ensure the top talent. Companies must also commit to adopting organizational cultures, procedures, and systems that are in line with the expectations of the dynamic cohort and other generations in the workplace if they were to remain competitive. While some software companies and startups are famed for their flexible corporate culture and the workplace advantages they offer, several other corporates have not been aggressive enough toward this end. Adopting digital innovations with adequate support from the senior leadership is critical for businesses to stay ahead in the market; failing to which, the workplace culture disruption can potentially affect the commitment levels of the employees. These factors would further drive the market during the forecast period.
While the market has utilized big data for quite some time now, the interest in data analytics and business intelligence tools has increased in recent years as sales force automation solutions vendors focus on offering enhanced data capturing and predictive modeling techniques and functionalities. For instance, Salesforce.com, Inc. recently announced the use of the Einstein platform for its cloud data. The platform leverages machine learning, deep learning, natural language processing and generation, and predictive analysis to gain valuable and actionable insights from the customer database.
The market is also seeing significant use of CRM solutions by sales teams across several industry verticals, which has fueled demand for mobile CRM software. Mobile applications have simpler user interfaces and are linked to major databases. This trend is being complemented by the growing popularity of the SaaS-based deployment strategy, which is likely to gain pace throughout the projection period. Cloud CRMs are expected to become the industry standard due to features such as simplicity of deployment, scalability of operations, and pricing flexibility.