Evaluated at US$2,296.0 mn in 2017, the opportunities in the global sales performance management (SPM) market are estimated to translate into a revenue of US$8,138.1 mn by 2025, with the demand expanding at a formidable CAGR of 17.1% during the forecast period of 2017 to 2025. SPM tools are highly useful for organizations to train and monitor their workforce pertaining to product sales and customer services. Sales performance management also helps in forecasting and achieving quota usually by focusing on processes and utilizes innovative tools to help individual sales and channel personnel.

The SPM software are also used to track information about territories, sales quotas, incentive compensation, job forecasting and evaluation. Sales performance management services are broadly used in banking and financial service institutions, healthcare, telecom & IT, and retail among others.

The global sales performance management market is exhibiting high growth prospects on the back of various factors such as growing focus on sales performance management procedures and massive investments in predictive analytics. Small and medium enterprises are automating their sales performance management with the help of these tools and software, making their employees more productive and efficient.

Apart from this, vendors desire for capability enhancement and streamlining of business processes are some of the other factors that are expected to boost the sales performance management market in forthcoming years. On the other hand, data security concerns, lack of awareness regarding the benefits of SPM, and cost of these tools are obstructing the market from attaining its true potential.

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Key Takeaways:

Rising demand to augment the value of company’s information are among the major factors driving the global sales performance management market.
Rise in adoption of metric driven sales instruments, and combining of integrated vendor offerings are anticipated to affect the global SPM market positively.