Sales Force Automation Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Sales Force Automation Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global sales force automation software market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.87% during 2022-2028. The rising need for automating labor-intensive tasks, increasing utilization of vision-guarded robotic systems, and the growing technological advancements represent some of the key factors driving the market.

Sales force automation (SFA) software automates workflows, streamlines sales processes, manages business leads, and enhances team productivity. It helps the sales team to build up a complete history of their customer interactions, sales, and operations and create tasks and set reminders to follow up leads on a particular date. It enables companies to assess sales activities automatically and leverage various lucrative recommendations to increase profits. SFA provides users with a simple, customizable view of accounts, leads, opportunities, and contacts necessary for increasing operational efficiency and offering smart sales forecasts. It eliminates the hassle of manual data entries and allows organizations to invest time into activities that drive revenue. It also presents sales performance data that provide better insights into closed deals. Furthermore, as it is a reliable solution for reducing investments in workforce resources, SFA software is utilized by banking, retail, information technology (IT), transportation, and logistics industries around the world.

Sales Force Automation Software Market Trends:
At present, the rising demand for SFA software among businesses for processing orders, sharing information with sales personnel, and managing client contact information represents one of the primary factors influencing the market positively. Besides this, the increasing utilization of SFA software in the e-commerce industry to monitor inventories, track orders and sales projections, and conduct employee evaluations is propelling the growth of the market. In addition, the growing employment of SFA software to boost employee engagement and retention rates is offering a favorable market outlook. Apart from this, the rising utilization of vision-guided robotic systems to carry out various operations and manage labor-intensive tasks is contributing to the market growth. Additionally, key market players are developing SFA software integrated with various effective security checking systems, such as multi and two-factor authentication, to protect valuable business data from cyber-security breaches. They are also integrating artificial intelligence (AI) and machine learning (ML) in SFA software to improve their functionalities and increase the accuracy of data generated. Moreover, the rising incorporation of cloud technology in SFA software to increase operational flexibility and improve data management is supporting the growth of the market. Furthermore, the increasing adoption of 5G technology to improve network connectivity and access high-speed internet is strengthening the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global sales force automation software market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on application, deployment type, enterprise size and industry vertical.

Application Insights:

Lead Management
Sales Forecasting
Order and Invoices Management
Opportunity Management
Others

The report has provided a detailed breakup and analysis of the sales force automation software market based on the application. This includes lead management, sales forecasting, order and invoices management, opportunity management and others. According to the report, lead management represented the largest segment.

Deployment Type Insights:

Cloud-based
On-premises

A detailed breakup and analysis of the sales force automation software market based on deployment type has also been provided in the report. This includes cloud-based and on-premises. According to the report, cloud-based accounted for the largest market share.

Enterprise Size Insights:

Small and Medium Enterprises
Large Enterprises

A detailed breakup and analysis of the sales force automation software market based on the enterprise size has also been provided in the report. This includes small and medium enterprises and large enterprises. According to the report, large enterprises accounted for the largest market share.

Industry Vertical Insights:

BFSI
Healthcare
Retail
Telecom
Food and Beverages
Others

A detailed breakup and analysis of the sales force automation software market based on the industry vertical has also been provided in the report. This includes BFSI, healthcare, retail, telecom, food and beverages, and others. According to the report, BFSI accounted for the largest market share.

Regional Insights:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, North America was the largest market for sales force automation software. Some of the factors driving the North America sales force automation software market included the increasing need for simplifying sales processes, rising cloud computing activities, the growing adoption of 5G technology, etc.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global sales force automation software market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Aptean Inc, Consensus Sales Inc, Infor Inc. (Koch Industries Inc), Microsoft Corporation, Oracle Corporation, Pegasystems Inc, Salesforce.com Inc, SAP SE, SugarCRM Inc, and Zoho Technologies Private Limited. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report
1. What was the size of the global sales force automation software market in 2022?
2. What is the expected growth rate of the global sales force automation software market during 2023-2028?
3. What are the key factors driving the global sales force automation software market?
4. What has been the impact of COVID-19 on the global sales force automation software market?
5. What is the breakup of the global sales force automation software market based on the application?
6. What is the breakup of the global sales force automation software market based on the deployment type?
7. What is the breakup of the global sales force automation software market based on the enterprise size?
8. What is the breakup of the global sales force automation software market based on the industry vertical?
9. What are the key regions in the global sales force automation software market?
10. Who are the key players/companies in the global sales force automation software market?