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Sales Performance Management (SPM) Market Size

Report ID: GMI7172
Published Date: Oct 2023
Report Format: PDF

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Sales Performance Management Market Size

Sales Performance Management Market size was valued at USD 2.2 billion in 2022 and is estimated to register a CAGR of over 16% between 2023 and 2032. The market growth can be attributed to the increased emphasis on sales productivity and performance across enterprises. Businesses are increasingly focused on improving sales team productivity and performance. Sales performance management solutions provide tools to track, analyze, and enhance the performance of sales representatives, helping organizations achieve their revenue targets and improve overall efficiency.

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Driven by these benefits, companies operating in this space are actively innovating new products and solutions to keep up with the increasing market demand, thus stimulating the growth of the sales performance management market. For instance, in June 2022, LeadSquared, an Indian CRM software and marketing automation platform, introduced a new suite for sales performance management called "Ace." The Ace Suite employs a blend of psychological and analytical strategies to gamify sales procedures and improve sales performance.

Sales Performance Management Market Report Attributes
Report Attribute	Details
Base Year:	2022
Sales Performance Management Market Size in 2022:	USD 2.2 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	16%
2032 Value Projection:	USD 9.7 Billion
Historical Data for:	2018 – 2022
No. of Pages:	230
Tables, Charts & Figures:	356
Segments covered:	Component, Enterprise Size, Deployment Model, Industry Vertical
Growth Drivers:	Growing digital transformation across various industries Increased demand for sales efficiency Rising inclination towards remote & hybrid work environments Complexity of sales compensation and incentive structures Expanding sales teams and channels of businesses
Pitfalls & Challenges:	Data security and privacy Complexities in implementation of SPM solutions

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The initial product launched within the Ace suite is called "Goals." It allows sales managers to establish well-defined objectives using a no-code configuration. These objectives can be tailored to a wide range of key performance metrics, including Lead Generation, Completed Calls, Closed Deals, and Generated Revenue, catering to different positions within the organizational structure.

The complexity of implementing SPM solutions and integrating them with existing CRM (Customer Relationship Management) or Cloud ERP (Enterprise Resource Planning) systems may pose challenges to industry growth. This often-required significant time, resources, and technical expertise, making it a barrier for some organizations, particularly smaller ones, impacting the overall market dynamics.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of sales performance management reached USD 2.2 billion in 2022 and is set to grow at over 16% CAGR from 2023 to 2032, attributed to the increased emphasis on sales productivity and performance across enterprises.

The BFSI segment held a market share of 26% in 2022, due to regulatory changes and increased scrutiny requiring a transparent and accountable sales process.

North America held around 37% of the market share in 2022, as the region's highly competitive business landscape demands efficient sales processes, along with emphasis on data-driven decision-making and informed strategies.

Anaplan, Inc., Beqom SA, Gryphon Networks, Iconixx Software Corporation, Incentive Solutions Inc., Nice Ltd., Oracle Corporation, Performio Solutions Inc., Salesforce.com Inc., SAP SE, and Varicent Software Inc.