The global sales performance management (SPM) market is flourishing as the tools have emerged as enhanced alternatives to vital enterprise applications such as customer relationship management (CRM) and enterprise resource planning (ERP). While a number of companies have noticed the lucrativeness of the SPM market and consequently new players are mushrooming, the global shares are more or less consolidated among a small chunk of established players, according to a recent business intelligence study by Transparency Market Research (TMR).
The analysts of the report have identified IBM Corporation, Oracle Corporation, Microsoft Corporation, Accent Technologies, Inc., Altify, Entomo, Inc., Anaplan, Inc., Xactly Corporation, Callidus Software Inc., Hybris AG, Silvon Software Inc., and The Aberdeen Group as some of the prominent companies who are ahead of the curve in the global sales performance management market.
If the projections of the TMR report are to be believed, the demand in the global sales performance management market will multiply at an impressive CAGR of 17.1% during the forecast period of 2017 to 2025. The analysts have evaluated that the opportunities in this market translated into a revenue of merely US$2,296.0 mn in 2017 and have estimated it to radically swell up to US$8,138.1 mn by the end of 2025. To maintain their dominance in a fast evolving environment, the market leaders are emphasizing on improving their sales performance management solution capabilities. Apart from this, sales performance management software is anticipated to have strong future potential, expanding on the back of continuous innovation in SPM solution by key vendors as well as active adoption of SPM software in insurance industry, media and entertainment industry, and others.
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For instance, Oracle offers cloud-based SPM solution that has been designed solely on a single platform with a solitary database. As opposed to other sales performance management solutions, Oracle offers end-to-end capabilities including quota modeling, territory planning, sales coaching, incentives and games, and more. IBM, another key vendor in the global sales performance management market, provides tools to gain information on the sales representatives and take control of their operations by eliminating surprises.