The Global Salesforce Automation market to grow at staggering CAGR of 7.63% and reach worth USD 13,659.45 Million by 2026
Published | August 2020
Global Sales Force Automation Market has gained momentum in
recent years. It is estimated to grow with a CAGR of 7.63%, in value terms,
over the projection period 2020-2026, and touch the revenues of USD 13,659.45
Million by 2026. Salesforce automation allows industries to manage account
records, customer database, and order & invoices automatically and monitor
the system in real-time. Its software includes management of the leads, sales
forecasting, opportunities management, and others (contact management,
relationship management, and analysis). The global market for sales force automation is anticipated to undergo substantial growth due to increased demand
for simplified sales processes and efficient workforce utilization across
developed and developing regions.
BFSI Plays a Major Role to Drive the Salesforce Automation
market
BFSI segment is leading the salesforce automation market
followed by the telecom industry. BFSI refers to banking, financial services
and insurance sector engaged in providing a variety of financial products or
services. It consists of numerous conventional banks and insurance companies
operating in one or more of these financial sectors. Telecommunication sector
is engaged in the services related to the exchange of information by various
types of technologies over cable, radio, optical or other electromagnetic
systems.
Order & Invoices Management is the Primary Driver for the
Global Salesforce Automation market.
The order & invoices management segment is pitched to record
the highest growth rate of over XX % during the span of 2020 to 2026. The
segmental growth is attributed to the requirement of accurate billing &
entry of payment details by the sales force. Moreover, the sales force
automation software also allows integration & entry of the billing &
payment information, thereby facilitates updating details of outstanding bills
into the accounting system. Such benefit drives the segmental growth.
Growing Adoption of Cloud Sales Force Automation
One of the emerging factors driving Service Cloud is the new
emphasis on forging cross-cloud processes across the salesforce product
portfolio. Rather than seeing each of its Cloud offerings as a separate
product, the majority of the use cases for these cross-cloud processes bypass
Sales Cloud. Instead, it links Marketing and Commerce Clouds into Service
Cloud.
Dreamforce announcement of the Customer 360 data management
initiative, which will help synchronize customer identities across different
systems. Such capability is particularly useful for mass-market,
consumer-facing brands that are reaching prospects and customers at large
scale, where automation is effective. Contact is typical via email marketing,
social media and mobile apps, and purchases mostly happen online.
The addition of CPQ capabilities after the acquisition of
Steelbrick almost three years ago gave dwindling Sales Cloud growth a
significant boost. The noticeable acquisition of CloudCraze this year is likely
to add a B2B dimension to Commerce Cloud, which will indirectly help Sales
Cloud get more deals.
Salesforce Automation: Competitive Landscape
Companies such as Salesforce, Microsoft Dynamics 365, SugarCRM,
ZOHO Corporation, Oracle's NetSuite, SAP Sales Cloud, Infusion Soft, Infor CRM,
Sage CRM, PipeDrive, Creatio (BPM’Online), CRMNext, Pegasystems, Zendesk,
Pipeliner, Vtiger, Xiaoshouyi, Coppe operate in this market.
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The in-depth analysis in the report provides insights about
growth potential, upcoming trends, and statistics of the Salesforce Automation
market size & outlook. The report promises to provide information about
state-of-the-art technology of Salesforce Automation and critical industry
insights which help businesses make sound strategic decisions. Furthermore, the
report also examines the market drivers, challenges and competitive scenario of
the market.