Global Salesforce Service Market, By Service Type (Planning, Execution, and System Management), By Deployment Model (Cloud, On-Premises and Hybrid), By Application (Sales, Marketing, Commerce Cloud, and Analytics), By Industry Vertical (BFSI, Manufacturing, Government, Retail & E-Commerce, Healthcare, IT & Telecom and Others), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-26
- Published Date: May 2020
- Report ID: BWC20063
- Available Format: PDF
- Page: 0
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The changing face of business ecosystems has made IT a crucial aspect of sustainable business growth. Massive investment in cloud services is one of the factors testifying to the rapid transition of businesses to digital technology. With the 'customer-first' approach as their primary cornerstone, Salesforce services help end-users identify and address gaps in their business models, which, in turn, would help them level up their business performance.
Supporting technological developments in the global sales force services market, business organizations are gradually drifting away from completely on-site solutions and making way for three emerging cloud computing services, namely Software as a Service (SaaS), Platform as a Service (PaaS) and Infrastructure as a Service (IaaS). Due to their compatibility and numerous features, various CRM tools, such as salesforce services, are adopted by companies of different sizes. These cloud computing services offer viable solutions to meet the growing and diverse needs of customers around the globe.
Global Salesforce Service Market: Overview
As Salesforce services challenge the 'one-size-fits-all' concept, service providers offer end-to-end assistance to help end-users get services that are best suited to their needs. With thousands of Salesforce implementations across multiple companies, Salesforce service providers are focusing extensively on creating meaningful experiences to generate significant profits. Companies create opportunities with an increasing focus on improving customer engagement and interaction is a key imperative driving growth and profitability in competitive spaces.
Salesforce Service technology can change dynamics in the strategic balance of power, military affairs, and trade. Governments of different countries are planning to expand exploratory research into new technologies for the development and development of Salesforce Service solutions. Rising government investments in salesforce service solutions for a wide range of applications are expected to boost the growth of the global Salesforce Service market.
Leveraging Artificial Intelligence (AI) Capabilities
Salesforce services are integrated with AI capabilities that enable users to develop custom AI platforms to predict business outcomes, such as the lifetime value of a service, to train and deploy customized bots as per the Business CRM suite. Also, with the help of advanced machine learning technology, these platforms can identify the intent of the body text and then help organizations to make effective decisions. AI helps to recognize the relevant patterns in company data to avoid any deviations from the target action plan and improve productivity. As a result, leveraging the AI capabilities of salesforce services is a significant driver of market growth.
Increasing Adoption in the BFSI
Increased adoption of sales force services in the BFSI industry is the main driver of market growth across the globe. Asia-pacific is expected to record the fastest growth in the market in all regions during the forecast period. Economic development, increased IT expenditure, the growing adoption of advanced technologies and the growing BFSI industry are key factors driving the growth of the Asia-pacific market.
Global Salesforce Service Market: Service Type
Based on Service Type, Global Salesforce Service Market is segmented into Planning, Execution, and System Management. The system management category in the service type segment is expected to record the fastest growth in the forecast period. This can be primarily attributed to the increasing demand for the monitoring of sales forces. It provides smart alerts to support teams to predict and prevent all major issues related to customer relationship management (CRM) applications that, in turn, help to streamline business functions.
Global Salesforce Service Market: Industry Vertical
Based on Industry Vertical, Global Salesforce Service Market is segmented into BFSI, Manufacturing, Government, Retail & E-Commerce, Healthcare, IT & Telecom and Others. The BFSI industry held the largest market share in salesforce services in the previous year and is further projected to see the fastest growth in the forecast period. The increase in BFSI can be attributed to the strong focus of the BFSI sector on customer engagement through digital applications and improved payment services.
Global Salesforce Service Market: Regional Insights
Based on region, the global Salesforce Service market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. It is estimated that North America accounts for a large part of the global market for sales services. Most of the large, medium and small organizations in the region make significant investments in salesforce services to maximize revenue and maintain market position. This encouraged salesforce service providers to reach a larger audience base across major regions of the world, including Canada, the U.S., China, and India.
The major players in the global Salesforce Service are SAP SE, Oracle Corporation, Microsoft Corporation, Salesforce.com Inc., Adobe Inc., DXC Technology, Accenture PLC, IBM Corporation, Pegasystems Inc., Verint Systems Inc., Tata Consultancy Services Limited, and AT&T Inc. and Other prominent player.
Ø March, 2020: DXC Technology (NYSE: DXC), the world’s leading independent, end-to-end IT services company, announced the launch of the community edition of springday, a digital evidence-based wellbeing platform designed to reduce psychological injury claims.
Ø March, 2019: Adobe unveiled the Adobe Digital Economy Index, the first real-time barometer of the digital economy, which analyzes trillions of online transactions across 100 million product SKUs in 18 product categories. Growing at a faster pace than the economy as a whole, the digital economy has never been more important than during the COVID-19 pandemic as consumers and businesses across the globe grapple with a digital-only reality. More broadly, as the digital economy continues to evolve, the need to accurately track online prices and actual spending to better understand trends and predict changes across industries and countries becomes even more critical.
By Service Type
Ø System Management
By Deployment Model
Ø Commerce Cloud
By Industry Verticals
Ø BFSI, Manufacturing
Ø Retail & E-Commerce
Ø IT & Telecom
Ø North America
Ø Asia Pacific
Ø Latin America
Ø Middle East & Africa
The objective of the Study:
Ø To analyze and forecast the global Salesforce Service Market size of the market in terms of value.
Ø To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.
Ø The Global Salesforce Service Market segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, Middle East & Africa and their leading countries.
Ø To outline, categorized, and forecast the global Salesforce Service Market based on service type, deployment model, application, and industry verticals.
Ø To examine competitive developments like technological advancement, services, and regulative framework within the global Salesforce Service Market.
Ø To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
Ø To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
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