CHICAGO, April 30, 2019 /PRNewswire/ -- According to market research report on "Sales Enablement Platform Market by Component (Platform And Services), Organization Size, Deployment Type, Industry Vertical (BFSI, IT & Telecom, Consumer Goods & Retail, Healthcare & Life Sciences, Manufacturing), and Region - Global Forecast to 2024", published by MarketsandMarkets™, the global Sales Enablement Platform Market size is expected to grow from USD 1.1 billion in 2019 to USD 2.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 19.8% during the forecast period.
The growing demand to improve internal sales process, scaling sales effort with the help of advanced technology, and increasing sales deal closure rates are some of the major factors driving the growth of the Sales Enablement Platform Market.
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BFSI vertical to hold the largest market size in the global Sales Enablement Platform Market during the forecast period
The Banking, Financial Services, and Insurance (BFSI) vertical is undergoing massive disruption, driven by regulatory changes and competitive pressures. With the advent of mobile technology, customers' preferences and behavior are changing. Today, digital banking applications have grabbed a large share of customer transactions. Enterprises are emphasizing on adopting the sales enablement platform to boost the performance of their sales and marketing representatives which leads to better customer satisfaction and engagement.
The services segment to grow at the highest CAGR during the forecast period
Sales enablement platform services have a wide scope of usage, ranging from assistance to client for deployment of platform, strategy and implementation, to cater to business-specific needs of organizations. Sales enablement services help businesses bridge legacy systems to modern applications and take care of training and implementation work so that client can focus on their core business. This has created opportunities for vendors to provide services to enterprises across different industry verticals and help them deal with complexities while configuring the sales enablement platform.
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North America to have the largest market size during the forecast period
North America is estimated to account for the highest share of the market in 2019. The region comprises developed countries, such as the US and Canada, and is considered the most advanced region in terms of adopting digital technologies. The North American region exhibits a wide presence of key industry players offering sales enablement platform and services and its financial position enables it to invest majorly in leading tools and technologies for effective business operations.
Some of the major vendors in the Sales Enablement Platform Market are SAP (Germany), Bigtincan (US), Upland Software (US), Highspot (US), Seismic (US), Showpad (Belgium), Brainshark (US), ClearSlide (US), ClientPoint (US), Accent Technologies (US), Quark Software (US), Bloomfire (US), Qorus Software (US), Pitcher (Switzerland), Mediafly (US), Rallyware (US), MindTickle (US) and Qstream (US).
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