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Sales Enablement Platform Market size is poised to expand at a rapid pace over 2021-2027. This is driven by the growing awareness about the benefits of sales enablement technology, such as sales efficiency, intelligent buyer interactions, and transparent collaboration between marketing and sales teams. Likewise, the rising deployment of the technology to promote manufacturing sales growth through effective content, planning, and technology will also amplify the industry demand. Sales enablement refers to the process by which the sales teams procure data, resources, information, and tools to engage and nurture prospects throughout the journey of the buyers. The benefits of this process are far-reaching and can transform average or under-performing sales teams into high-powered excellence units.
Robust focus on user personalization and the high emphasis on developing efficient sales teams across industries including telecommunications are fostering sales enablement platform market trends. According to Quark’s report, telecom, tech, and financial services constitute the highest percentage of sales enablement efforts as compared to other industries. In addition, the capability of the sales enablement process to provide the right content and help the telecom companies lock new opportunities will also augment demand for the platform over the coming years.
On the basis of end-use, the sales enablement platform market from the manufacturing segment will record commendable revenue by 2027. Growth from this segment can be attributed to the ability of the platform to provide manufacturing sales reps with improved content and help standardize the creation process to drive better results. Moreover, significant challenges associated with expanding product portfolios and meeting demand from selective customers will further augment the need for the sales enablement platform in the manufacturing sector.
Middle East & Africa sales enablement platform market is poised to depict a strong growth rate through 2027, given the anticipated surge in retail sales in countries such as the UAE. As per the Dubai Chamber of Commerce and Industry Report, UAE retail sales are likely to grow by 13% to reach $58 billion by 2021 end. Furthermore, the adoption of innovative technologies such as IoT is also projected to fuel the deployment of sales enablement tools in the region.
The competitive landscape of the global sales enablement platform industry consists of firms such as MindTickle, Inc., Rallyware, Inc., Mediafly, Inc., Pitcher AG, Bloomfire, Qorus Software, Quark Software, Inc., Accent Technologies, Inc., Clearside Biomedical, Inc., Showpad, Brainshark, Inc., Highspot, Inc., Upland Software, Inc., Seismic Software, Inc., BigTinCan Mobile Pty Ltd., and SAP SE, among others. Innovative solution launches and business expansions are the key strategies being employed by these industry players to gain a competitive edge over rivals across the global market.
For instance, Highspot unveiled the Highspot Marketplace, an exchange where customers can seamlessly leverage the content of above 20 sales, enablement, marketing, and customer success partners. In September 2021, Loopio updated its unique-to-the-market integration with the sales enablement leader, Seismic. This collaboration was entered to offer an end-to-end solution for sales proposal creation, sales content management, proactive content delivery, and coaching and training.
The ongoing coronavirus pandemic has posed massive challenges across the industrial sectors, including retail. According to the Retailers Association of India’s report, retail sales fell by 79% in 2021 as compared to pre-COVID-19 sales in 2019 in the country, due to the second wave of the pandemic. Temporary retail store closures may create roadblocks to the deployment of on-premise sales enablement tools over the forecast spell, since these tools play a key role in seamless retail team operations.
However, the emergence of sales enablement as a driving force for digital transformation may generate significant opportunities for the overall industry growth, even during the COVID-19 crisis. In the digital era, these tools are expected to serve as an internal content library for customer facing reps, as well as ensure that the sales force aligns with the product and brand strategy, thereby proliferating sales enablement platform market outlook.