As an industry expert, I’ve seen how sales enablement platforms have become a game-changer in the world of sales and marketing. These platforms offer telecommunication sales representatives with vital tools and content that not only boost internal sales but also enhance workflow and minimize inter-department bottlenecks.
Key Industry Insights & Findings
A recent report published by Grand View Research, Inc., highlights some crucial insights into the growth of the sales enablement platform market:
- The platform segment accounted for the largest market share of over 74.2% in 2022.
- Small and medium organizations are expected to observe the highest CAGR of 16.1% during the forecast period.
- The cloud segment is anticipated to witness exceptional growth at a CAGR of 16.9% during the forecast period.
It’s worth noting that several organizations across different industries such as BFSI, IT & Telecom, Healthcare, among others are adopting these platforms to increase efficiency in aspects such as training, coaching, content management, and sales communication.
Sales Enablement Platforms for SMEs
Small and medium enterprises (SMEs) have been quick to adopt digital rooms and video format meetings as part of their sales strategies, thanks to sales enablement platforms. This adoption has significantly improved their business reach.
Rise in Cloud Enablement Services
The surge in cloud enablement services has simplified high-performance computation for both small and large enterprises. The rapidly growing retail industry globally is generating demand for these services.
Regional Market Overview
North America is expected to account for the largest share of over 29.7% in 2022 in the regional market due to high internet penetration and presence of key players such as Accent Technologies, Inc., SAP, Mediafly among others.
Growth Trends & Future Projections
The COVID-19 pandemic resulted in an increased penetration of technologies such as AI, IoT, cloud computing, machine learning which led to an increase in productivity and sales for representatives using connected devices for sales enablement.
For instance, tablets have shown potential to drive revenue by differentiating buying experiences and rectifying sales productivity issues. According to a study by Sales Management Association study, about 70% of companies were using tablets to increase positive ROI.
AI provides sellers with metrics that measure growth rates which aids them in driving more sales. Cloud-based solutions are gaining more traction than on-premise solutions due to reduced costs and scalability offered by cloud platforms.
Read full market research report with ToC here.
Key Players In The Market
Notable players in this field include Accent Technologies Inc., Bigtincan Holdings Ltd., Bloomfire among others who provide efficient tools that help gain necessary information about companies’ business traits by indexing real-time information from millions of public open data sources.
|Accent Technologies Inc
|Bigtincan Holdings Ltd
These tools significantly advantage businesses with their ability for efficient use of workforce resources while staying competitive amidst increasing complexity especially within retail and telecommunication businesses – driving a need for automation thus boosting market growth.
In conclusion: As we look forward towards an increasingly digital future where technology continues playing a pivotal role across sectors – it’s clear that Sales Enablement Platforms are poised for substantial growth well into this decade.