Global Sales Enablement Platform Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Sales Enablement Platform Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A sales enablement platform provides visibility across the sales content lifecycle. With powerful search, scoring, and syncing, a sales enablement tool closes the loop between marketing, sales, and customers and helps teams track content performance from publication to pitch.

Market Overview:

The latest research study on the global Sales Enablement Platform market finds that the global Sales Enablement Platform market reached a value of USD 1960.1 million in 2022. It’s expected that the market will achieve USD 5483.63 million by 2028, exhibiting a CAGR of 18.7% during the forecast period.

COVID-19 has affected the team’s methodology and sales culture

Considering the challenges faced by various company teams due to COVID-19, adding impressive technical solutions will undoubtedly reduce the burden on the team. The impact of COVID-19 on the sales enablement platform market in 2020 is profound. Because employees work from home for safety reasons, companies find it challenging to share information and record the progress of the sales team. Since sales enablement is an important process that requires a central hub to provide customers with high-quality services, the sales enablement platform on the market has been providing useful services to customers during this interruption period.
Due to the impact of COVID-19, sales enablement platform has been taking new measures to improve the performance of its solutions. This should help companies deal with 2020 disturbances. Sales enablement platform service providers need to always strive to enhance their platforms and create more innovative solutions for customers. Therefore, the sales enablement platform has become more and more popular. More emphasis is placed on cooperation, research and analysis. Customer-centric attention has prompted decision makers to consider restructuring and digital transformation strategies more seriously.

Impact from the long-term

Companies in many industries have begun to invest more in technology solutions in order to increase their business value. After COVID-19, the demand for systematic and integrated technical solutions is even higher. Mainly for organizations that want to sell their products through multiple channels, they need to have a broader understanding of buying patterns and the popularity of content in order to capture and maintain customer interest. The sales enablement platform is an emerging market. With a series of solutions, it has completely changed the way sales and execution decisions are made. For companies that decide to integrate these solutions into their business, there is more influence.

The sales enablement platform enables IT and telecommunications companies to remain competitive in the market

IT and telecommunications companies need to respond to different market conditions in response to changes in services and changes in consumer behavior. Therefore, these companies hire their sales executives and domain experts to effectively manage customer needs. The sales enablement platform enables IT and telecommunications companies to remain competitive in the market and change their sales methods according to industry needs.
The sales enablement platform is changing the vertical industry in the IT and telecommunications industries by enabling companies to accelerate time to market and complete larger transactions at a faster speed. In addition, the IT and telecommunications industries have vertically adopted the sales enablement platform to broadly maximize the business value of their users through creative sales methods. This factor has promoted the development of the sales enablement platform market.

The cost of sales enablement platform is greater than the benefit

The sales enablement platform aims to help the entire organization succeed, not just the sales team. Simplifying the sales process and improving the sales team's ability to complete transactions means that the entire business is booming. A common misconception about sales enablement platform is that ROI is difficult to quantify-if you use the right platform, this is completely wrong.
As mentioned above, certain forms of sales enablement require greater investment. However, the sales enablement platform is a separate and customizable journey. The technology chosen by the customer does not have to be expensive, nor does it have to adopt an expensive platform. This factor limits the development of the sales enablement platform market.

Imposes additional burden on sales staff

The sales enablement platform was developed to promote sales, which may help to a certain extent. On the other hand, the sales enablement platform also brings additional burdens to sales staff. Sales personnel are under psychological pressure when they perform their main duties while maintaining these sales enablement platforms. This burden even increases the turnover rate of employees. This factor also limits the development of the sales enablement platform market.

Region Overview:

Geographically, North America held the largest market share – 38.4% in 2022.

Company Overview:

Seismic is one of the major players operating in the Sales Enablement Platform market, holding a share of 13.69% in 2023.

Seismic

Seismic is the global leader in enablement, helping make sales teams better by becoming more productive and engaging with buyers in a compelling way. Seismic' platform provides continuous guidance to improve behavior, content, and skills to win more deals and deliver better experiences.

Highspot

Highspot aims to help sales and marketing people do their thing better and more efficiently. Highspot helps companies worldwide improve the performance of their sales teams by turning strategic initiatives into business outcomes.

Segmentation Overview:

As for product types, the Cloud segment held the largest market share in 2022.

Application Overview:

The market's largest segment by application is the segment Large Enterprises, with a market share of 59.58% in 2022.

Key Companies in the global Sales Enablement Platform market covered in Chapter 3:

Quark Software
Bloomfire
Upland Software
Mediafly
Guru
Highspot
Accent Technologies
MindTickle
HubSpot
Showpad
Bigtincan
Seismic
Rallyware
Qstream
DealHub
Pitcher
LevelJump

In Chapter 4 and Chapter 14.2, on the basis of types, the Sales Enablement Platform market from 2018 to 2029 is primarily split into:

On-premises
Cloud

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Sales Enablement Platform market from 2018 to 2029 covers:

SMEs
Large Enterprises

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)