Sales Engagement Software Market
Sales Engagement Software Market Study by Cloud-based and On-premise for Large Enterprises and SMEs from 2024 to 2034
Analysis of Sales Engagement Software Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Sales Engagement Software Market Outlook (2024 to 2034)
With the incorporation of digital technologies such as sales engagement software, enabling distant communication and collaboration with prospective clients has become easier. The global sales engagement software market has been valued at US$ 9.6 billion in 2024 and is projected to increase at a CAGR of 14% to reach US$ 35.7 billion by 2034.
The crucial role of sales engagement software in improving communication with prospective consumers is leading to overall operational efficiency. This software offers a centralized hub for automating and monitoring various sales activities, such as lead nurturing, email and call tracking, customer outreach, and sales analytics. Moreover, these platforms assist in establishing interaction with email clients, CRM systems, and other similar sales tools to give salespeople a unified experience.
Sales engagement solutions help respective teams establish effective engagement with customers and prospects throughout the sales cycle, from initial communication to closing agreements. Some of the benefits of using these platforms are prioritizing efforts, managing and measuring sales activities, generating improved sales outcomes, and boosting response rates. Thus, sales engagement platforms offer sales teams the information and tools they require to optimize workflows, convert leads into customers, and increase efficiency.
- Demand for sales engagement software in South Korea is projected to accelerate at a CAGR of 14.8% from 2024 to 2034.
- East Asia is estimated to account for 23.1% of the global sales engagement software market share by the end of 2034.
- Large enterprises are expected to contribute 51% share of global market revenue by 2034.
Several communication methods are incorporated by sales teams, such as video conferencing, emails, phone calls, and social media engagement software. Sale engagement software is estimated to centralize multiple channels for effective outreach of respective teams, which is anticipated to further help them get a competitive edge over other market players.
| Report Attributes | Details |
|---|---|
| Sales Engagement Software Market Size (2024E) | US$ 9.6 Billion |
| Forecasted Market Value (2034F) | US$ 35.7 Billion |
| Global Market Growth Rate (2024 to 2034) | 14% CAGR |
| Market Share of Cloud-based Software (2034F) | 65.5% |
| North America Market Share (2034F) | 24.3% |
| Japan Market Growth Rate (2024 to 2034) | 14.5% CAGR |
| Key Companies Profiled |
|
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Which Factors are Positively Impacting Need for Sales Engagement Software?
“Increasing Deployment of Cloud-based Solutions”
More enterprises are taking initiatives for the deployment of cloud-based software as these services offer various benefits, including scalability, cost-efficiency, increased collaboration, and flexibility. Further, cloud-based sale engagement software enables enterprises to concentrate on their respective key competencies instead of IT processes. The integration of AI in these platforms is also projected to benefit market growth.
“High Need to Properly Understand Customer Behavior”
Various strategies are adopted by more enterprises due to an awareness of the importance of understanding customer behavior to offer the best services in real time and enhance sales engagement. A preference for business models to AI, embedded analytics, and IoT along with their integration into sale engagement software is estimated to augment the sales engagement software market growth.
What Drawbacks are Limiting usage of Sales Engagement Software?
“Data Security and Privacy Concerns Regarding Sales Engagement Software”
Proper treatment and protection of sensitive customer data are pivotal data security and privacy concerns associated with sales engagement software. Organizations need to comply with set data protection rules, including GDPR as these platforms deal with communication history, contact information, and other personal facts.
Failure to manage and secure customer data is expected to result in breaches, information misuse, and unauthorized access, which may lead to legal ramifications, loss of customer trust, and reputation harm. Therefore, providers of sales engagement software need to adopt robust security measures, such as data backups, frequent security audits, access limits, encryption, etc. for the satisfaction of privacy concerns and preservation of client data.
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How are New Companies Transforming the Sales Engagement Software Business?
“High Focus on Integrating AI in Sales Engagement Solutions”
Startups are investing in integrating AI tools into sales engagement software. These advanced platforms offer various benefits, including enhanced lead generation, better forecasting accuracy, boosting client loyalty, incorporating best practices, and simplifying cross-selling and upselling. These benefits are forecast to stimulate more companies to integrate these platforms, which is further contributing to the expanding sale engagement software market size.
Country-wise Insights
North America is projected to account for 24.3% share of the global market by 2034. The rising adoption of some advanced sales technologies by various companies is attributed to their ability to offer a centralized and seamless workflow to sellers. Further, increased penetration of communication devices, smartphones, and the internet is set to positively impact demand for sale engagement software in the region.
What is the Demand Outlook for Sales Engagement Software in the United States?
“High Adoption of Advanced Technologies for Taking Well-informed Decisions”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 1 Billion |
| Growth Rate (2024 to 2034) | 14.5% CAGR |
| Projected Value (2034F) | US$ 4 Billion |
The United States is anticipated to contribute a 45.6% share of the North American market by 2034. A shift to data-driven sales is estimated to contribute to the rising demand for sales engagement software. More companies in the country are recognizing the importance of leveraging analytics and data to generate sales strategies. These platforms provide advanced reporting and analytics capabilities to offer valuable insights into campaign effectiveness, prospect behavior, and sales performance.
Sales teams are projected to make well-informed decisions, optimize their sales efforts, and identify areas for improvement. These platforms enable more organizations to measure and track key sales metrics, personalize communication, and identify high-potential leads, trends, and patterns driving successful outcomes.
Which Aspects are Benefitting Market Players in China?
“High Presence of Startups Pushing Market Forward”
| Attribute | China |
|---|---|
| Market Value (2024E) | US$ 1.1 Billion |
| Growth Rate (2024 to 2034) | 14% CAGR |
| Projected Value (2034F) | US$ 3.9 Billion |
China is estimated to contribute 47.5% share of the market in East Asia by the end of 2034. Constant developments taking place in customer engagement and retention are anticipated to play a vital role in driving market growth. Further, the presence of various aspiring players in the country is also estimated to generate lucrative opportunities for market expansion. Moreover, technological development in SMEs, cloud deployment, digital transformation, and efforts for developing sales and marketing strategies are positively influencing sales engagement software market trends.
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Category-wise Insights
Cloud-based sales engagement software is easily accessible to respective end users irrespective of their location. Just internet connectivity assists them in establishing a connection to respective infrastructure for the effective operation of tasks.
Why is Cloud-based Sales Engagement Software Gaining Popularity?
“Rising Preference for Cloud-based Sales Engagement Software for Better Scalability and Flexibility”
| Attribute | Cloud-based Software |
|---|---|
| Segment Value (2024E) | US$ 6.5 Billion |
| Growth Rate (2024 to 2034) | 13.6% CAGR |
| Projected Value (2034F) | US$ 23.4 Billion |
Cloud-based sales engagement software is projected to hold 65.5% share of the global market by 2034. Scalability, flexibility, and better collaboration of cloud-based sales engagement software are contributing to their popularity. Moreover, these software platforms provide an integrated way for complying systems along with their components with the web and mobile applications. They assist organizations in improving their sales performance.
Which Enterprise Type Accounts for a Significant Share of the Global Market?
“Rising Preference for Sales Engagement Software in Large Enterprises to Stay Ahead in Competition”
| Attribute | Large Enterprises |
|---|---|
| Segment Value (2024E) | US$ 5.6 Billion |
| Growth Rate (2024 to 2034) | 12.5% CAGR |
| Projected Value (2034F) | US$ 18.2 Billion |
Large enterprises are evaluated to enjoy a 51% share of global market revenue by the end of 2034. The growing adoption of cloud-based platforms across large enterprises is anticipated to be one of the prominent sale engagement software market growth drivers in the assessment period. Further, there is a noteworthy increase in the adoption of this sales engagement software in various industry verticals, including BFSI, healthcare, IT & telecommunication, etc. to get a competitive edge.
Competitive Landscape
Prominent market players are making efforts, including partnerships, R&D activities for software updates, and acquisitions to strengthen their market position.
For instance :
- Outreach, in October 2023, unveiled AI assist at Unleash’23. This newly introduced intelligence solution is designed to assist sellers in understanding the real-time status of deals, unlock seller productivity, and predictably forecast.
- P360 is one of the prominent technology developers, which is utilized in the life science industry. In May 2022, the company launched its new ZING Engagement Suite, which is estimated to assist pharmaceutical sales teams in engaging healthcare professionals.
Key players in the sales engagement software industry are Outreach, P360, ConnectLeader, Veelo, ClearSlide, VanillaSoft, Cirrus Insight, SalesLoft, InsideSales, Yesware, Mixmax, Groove, ToutApp, Agile CRM, and DealHub.
Segmentation of Sales Engagement Software Market Research
-
By Type :
- Cloud-based
- On-premise
-
By Application :
- Large Enterprises
- SMEs
-
By Region :
- North America
- Europe
- East Asia
- Latin America
- Middle East & Africa
- South Asia & Oceania
- FAQs -
How big is the sales engagement software market size in 2024?
The global sales engagement software market has been valued at US$ 9.6 billion in 2024.
What is the demand outlook for sales engagement software for 2034?
Demand for sales engagement software is approximated to reach a valuation of US$ 35.7 billion by 2034-end.
What is the anticipated growth rate for the global market?
The global market is forecasted to advance at a CAGR of 14% from 2024 to 2034.
At what CAGR is the demand for sales engagement software forecasted to increase in South Korea?
The market in South Korea is forecasted to increase at 14.8% CAGR through 2034.
How much share of the global market is North America projected to account for?
North America is expected to contribute 24.3% share of the global market by the end of 2034.
What is the contribution of cloud-based sales engagement software to global market revenue?
Cloud-based sales engagement software is evaluated to account for 65.5% market share by 2034.
What is sales engagement software?
Sales engagement software helps sales teams engage with customers and prospects across various channels by assisting sellers in streamlining their work and staying organized through integration and automation.
Sales Engagement Software Market
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