Lead Mining Software Market: Current Analysis and Forecast (2022-2028)

Lead Mining Software Market: Current Analysis and Forecast (2022-2028)

The lead mining software market is expected to witness a CAGR of around 21% during the forecast period. Businesses use lead mining software to find new business opportunities from customer databases, sales history information, website visitors, social media followers, and more. Lead mining software helps one’s sales team expand its deal pipeline by finding new leads from existing data and new upsell opportunities for existing customers. Through the mining process, sellers and marketers can also validate existing customer information (such as contact information) or add new information about existing customers to improve the quality of customer data.

The growing adoption of lead mining software is mainly attributed to the rising number of email users, coupled with the surge in the number of internet users resulting in an increase in the number of website visitors. Furthermore, increasing numbers of social media users are expected to significantly influence market growth. For instance, in the year 2020, the global number of social media users reached 4.74 billion viz, approximately 59.3% of the global population.

• Based on deployment, the market is bifurcated into cloud and on-premises. The cloud segment is expected to grow with a significant CAGR during the forecast period. Lead mining is very data-extensive which will make deployment on any other infrastructure very expensive. Furthermore, applications deployed on the cloud are accessible from anywhere, which makes it an ideal deployment option for organizations.
• On the basis of application, the market is segmented into large enterprises and small and medium enterprises. The SME segment is expected to achieve a significant market share during the forecast period. The SMEs are in a constant quest of getting into new business and as they don’t have large investments invest in marketing for which, they rely on lead mining software. Furthermore, large enterprises have a larger consumer base which they try to retain as its costs them less compared to acquiring a new customer.
• For a better understanding of the market adoption of the lead mining software industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The North American region is expected to lead the lead mining software market. The growth in the region is mainly attributed to the high penetration rate of computer hardware in the region. Furthermore, the region has developed economies such as U.S. and Canada and the presence of key market players is expected to drive the market in the region such as Lusha Systesms, Clearbit and LeadIQ inc etc. Moreover, the growing number of SME’s also likely to contribute to the market growth in the region.
• Some of the major players operating in the market include Landingi Inc, NetFactor, CallRail Inc, FormAssembly Inc, Lusha Systems Ltd, Clearbit, NetLine Corporation, LeadIQ Inc, Datanyze, and HubSpot Inc.