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.