Sales Performance Management Market

Sales Performance Management Market was valued at USD 1700 Million in 2020 and expected to grow at a 14.9% CAGR during the forecast period.

Sales Performance Management Market Overview

Sales performance management is the set of operational and analytical functions which can automate and unite the back-office operational processes and helps in enhancing operational efficiency and effectiveness. The SPM capabilities include quota management, incentive compensation management, territory management, among others. The global sales performance management market various solutions and services such as incentive compensation management, territory management, sales planning and monitoring, among others.

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Major Sales Performance Management Market Drivers

One of the key drivers contributing to the growth of the global sales performance management market size includes increasing automation to increase visibility and avoid calculation inaccuracies. The sales departments are facing pressure for automating compensation and reward plans, performance appraisals, and territory mapping with the ongoing digitalization. As per the 2019 Sales Compensation Administration Best Practice Study by Xactly, around 83% of the organizations are having challenges related to payment inaccuracies at an average rate of higher than five percent.

The integration of audio-video conferencing application programming interfaces to increase personalization and productivity is further surging the market growth. The continuous innovation in the SPM market has encouraged the players to focus on investing in audio-video conferencing tools or Application Programming Interfaces (APIs) to allow the customer-agent engagements and collect live interactions for the identification of opportunities. In 2020, Oracle integrated Zoom with its Oracle Fusion Cloud Customer Experience (CX) to allow sales and other teams to include video into its existing process. In 2020, NICE integrated its platform with Zoom and RingCentral to offer integrated solutions for allowing remote employee collaboration and distributed virtual contact centers.

Restraint in the Sales Performance Management Industry

The skepticism among the small and medium-sized enterprises to avoid additional costs or altering the organization structure is a major factor that is hampering the market growth.

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Deployment Type – Segment Analysis

Based on the deployment type, the on-premises segment is expected to grow at a higher CAGR during the forecast period. This is mainly due to the rising demand for customized solutions according to business needs, particularly in large enterprises and organizations that have data security and privacy concerns.

Vertical – Segment Analysis

Based on the vertical, the banking, financial services, and Insurance (BFSI) segment is expected to grow at a higher CAGR during the forecast period. The BFSI companies deal with different insurance and banking products including credit card, debit card, loans, and insurance policies that include employment of various sales representatives. This has surged the demand to manage complex compensation calculations.

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Regional – Segment Analysis:

Based on the region, North America region is expected to grow at a higher CAGR during the forecast period. This is mainly due to the strong economic landscape followed by the increasing adoption of advanced technologies and high digital adoption at workplaces to enhance business processes. Moreover, the US and Canada are increasingly opting for SPM solutions and have the presence of SPM solution providers, including SAP SE, Xactly, Varicent, which are further contributing to the market growth.

Top Market Players

Various notable players operating in the market include SAP SE, Oracle, NICE, Anaplan, Inc., Varicent, beqom, Performio, Incentives Solutions Ltd., Optymyze, and Salesforce.com, Inc., among others 

Key Developments:

• • In 2020, Oracle increased the Territory Management and Incentive Compensation components of its Oracle Sales Performance Management Cloud with SAP SE, Oracle, NICE, Anaplan, Inc., Varicent, beqom, Performio, Incentives Solutions Ltd., Optymyze, and Salesforce.com, Inc., among others. enhanced features.
  • In 2020, Varicent introduced mobile application to offer reporting options similar to the reporting capabilities in the Varicent platform. Through this launch, the company aimed to strengthen its footprint in the SPM market.
  • In 2020, beqom introduced a new version of its mobile application and Individual Pay Estimator which gives employees the ability to see their performance and variable compensation pay-outs with better and flexible KPIs.

Segments covered in the Report:

The global Sales Performance Management market has been segmented on the basis of Component, Organization Size, Deployment Type, Vertical and regions. Based on Component, the market is segmented into Solutions and Services. Based on Organization Size, the market is segmented into Large Enterprises and Small and Medium-sized Enterprises. Based on Deployment Type, the market is segmented into On-Premises and Cloud. Based on Vertical the market is segmented into Manufacturing, Consumer Goods and Retail, Healthcare and Pharmaceuticals, Energy and Utilities, Travel and Hospitality, and Others. 

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Market Segmentation

Global Sales Performance Management Market by Component

• • Solutions
    • Incentive Compensation Management
    • Territory Management
    • Sales Planning and Monitoring
    • Others
  • Services
    • Consulting
    • Integration and Implementation
    • Training and Education
    • Support and Maintenance

Global Sales Performance Management Market by Organization Size

• • Large Enterprises
  • Small and Medium-sized Enterprises

Global Sales Performance Management Market by Deployment Type

• • On-Premises
  • Cloud

Global Sales Performance Management Market by Vertical

• • Manufacturing
  • Consumer Goods and Retail
  • Healthcare and Pharmaceuticals
  • Energy and Utilities
  • Travel and Hospitality
  • Others

Global Sales Performance Management Market by Region

• • North America Sales Performance Management Market (Option 1: As a part of the free 25% customization)

    • North America Sales Performance Management Market by Component
    • North America Sales Performance Management Market by Organization Size
    • North America Sales Performance Management Market by Deployment Type
    • North America Sales Performance Management Market by Vertical
    • US Sales Performance Management Market All-Up
    • Canada Sales Performance Management Market All-Up

  • Europe Sales Performance Management Market (Option 2: As a part of the free 25% customization)

    • Europe Sales Performance Management Market by Component
    • Europe Sales Performance Management Market by Organization Size
    • Europe Sales Performance Management Market by Deployment Type
    • Europe Sales Performance Management Market by Vertical
    • UK Sales Performance Management Market All-Up
    • Germany Sales Performance Management Market All-Up
    • France Sales Performance Management Market All-Up
    • Spain Sales Performance Management Market All-Up
    • Rest of Europe Sales Performance Management Market All-Up

  • Asia-Pacific Sales Performance Management Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Sales Performance Management Market by Component
    • Asia-Pacific Sales Performance Management Market by Organization Size
    • Asia-Pacific Sales Performance Management Market by Deployment Type
    • Asia-Pacific Sales Performance Management Market by Vertical
    • China Sales Performance Management Market All-Up
    • India Sales Performance Management Market All-Up
    • Japan Sales Performance Management Market All-Up
    • Rest of APAC Sales Performance Management Market All-Up

  • RoW Sales Performance Management Market (Option 4: As a part of the free 25% customization)

    • RoW Sales Performance Management Market by Component
    • RoW Sales Performance Management Market by Organization Size
    • RoW Sales Performance Management Market by Deployment Type
    • RoW Sales Performance Management Market by Vertical
    • Brazil Sales Performance Management Market All-Up
    • South Africa Sales Performance Management Market All-Up
    • Saudi Arabia Sales Performance Management Market All-Up
    • UAE Sales Performance Management Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Sales Performance Management Market All-Up

Major Players Operating in the Sales Performance Management (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • SAP SE
  • Oracle
  • NICE
  • Anaplan, Inc.
  • Varicent
  • Beqom
  • Performio
  • Incentives Solutions Ltd.
  • Optymyze
  • com, Inc.