) July 5, 2022 -- According to a recent Fact.MR study, the global sales engagement software market is expected to hold a value of USD 7.4 Billion in 2022. Valued at USD 5 Billion in 2021, the market registered a Y-o-Y growth of 48%. The market is anticipated to garner USD 29.6 Billion while exhibiting a CAGR of 14.9% during the time span of 2022 to 2032.
Increasing adoption of cloud-based solutions is expected to boost the market in the forecast period. Cloud-based segments offer various benefits such as; scalability, flexibility, cost-efficiency, and enhanced collaboration. Furthermore, there has been increased integration of AI in sales engagement software.
Sales engagement software offers several benefits such as; increased client loyalty, better forecasting accuracy, and enhanced lead generation. In addition, players in the market are taking various initiatives to strengthen their position in the market. For instance, in May 2022, Mindtickle, a renowned provider of sales readiness technology, announced a partnership with Boostup.ai, revenue operations, and intelligence platform provider.
Increasing Investments and Partnerships Are Predicted to augment the sales engagement software Market Size in the Asia Pacific
Fact.MR observes that the market in APAC is majorly driven by the presence of developing countries resulting in strong economic growth. Among all, China is projected to lead the market in the forecast period. The country is estimated at USD 2.2 Billion while exhibiting a CAGR of 14.3% from 2022- to 2032. Japan and South Korea are expected to secure USD 1.8 Billion and 1.1 Billion respectively. The ongoing development in customer retention and engagement is projected to play a significant role in driving the market in APAC.
Projected CAGR Value - Asia Pacific Region
Country / Projected CAGR (%)
South Korea / 12.3%
Japan / 13.3%
China / 14.3%
U.K / 13.8%
Predicted Forecast Value USD 1.8 Bn
Key Takeaways from the Market Study
· The cloud-based segment is expected to record a CAGR of 14.8% during the forecast period
· The market in the U.S is projected to secure a market value of USD 10.3 billion by 2032
· Market in China is predicted to record a CAGR of 14.3% in the assessment period
· The large enterprise segment is predicted to experience a CAGR of 14.6% in the assessment tenure
· Market in South Korea to secure a market value of USD 1.1 Billion by 2032
· Japanese market to hold a value of USD 1.8 billion in the forecast period
“Growing digitization, especially across developing nations is anticipated to play a salient role in driving the market during the forecast period. Also, integration of AI and rising demand for cloud-based software are other important factors strengthening the global sales engagement software market.”
Key Segments Covered in the Global Sales Engagement Software Market
· Global Sales Engagement Software Market by Application :
a) Sales Engagement Software for Large Enterprises
b) Sales Engagement Software for SMEs
· Global Sales Engagement Software Market by Type :
a) Cloud-Based Sales Engagement Software
b) On-Premises Sales Engagement Software
Key players in the global sales engagement software market include Outreach, Groove, ClearSlide, SalesLoft, and Yesware. Key developments in the market are:
· In May 2022, Outreach, the sales execution platform assisting revenue enterprises announced its Outreach Explore 2022 event, the introduction of Outreach Guide, a new revenue intelligence solution designed to assist sellers to enhance deal management.
· In May 2022, P360, a technology developer for the life science industry, announced the launch of its ZING Engagement Suite. It assists pharmaceutical sales teams to engage with healthcare professionals.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global sales engagement software market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Application (Large Enterprises, SMEs) by Type (Cloud-Based, On-Premises) & Regional Analysis (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa) & Region (North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa).
Key Questions Answered in Report
· Which are the most lucrative markets for Sales Engagement Software?
· Which factors will impact the growth of the Sales Engagement Software market?
· How will changing trends impact the strategies of market players?
· How can market players capture the low-hanging opportunities across regions?
· Which companies are leading the Sales Engagement Software industry?
· What are the winning strategies of stakeholders in the market?