The Asia Pacific Partner Relationship Management Market would witness market growth of 13.8% CAGR during the forecast period (2021-2027).
Partner relationship management software is mostly cloud-based and includes types of tools and options like inventory, revenue, pricing, lead distribution, marketing development, operations, deal registration, methods of tracking leads, metrics, and promotions. The main focus of customer relationship management (CRM) is on data management. It manages consumer data and keep a track of customer’s purchasing habits and preferences. In CRM, a company gives stress on gaining more and more transactions from the customer rather than focusing on their relationship. So, customer relationship management aims to get more sales, leading to gain more profit.
In contrast, partner relationship management focuses on developing a good relationship with the customer. PRM works on building trust between two companies, having insight deeper understanding of their partner’s requirements and fulfilling it with their potential capability. In addition, partner relationship management is too complicated than gathering data.
This region will witness significant growth in the PRM market in the upcoming years. This is owing to the rapid adoption of the latest technology in nations like India, Japan, and China. The growing number tech-savvy population and rising IT companies and manufacturing units in several nations of this region are boosting the market growth of PRM solutions.
The partner relationship management market is expected to expand rapidly as there is a change in the demanding patterns and also an increase in the digital initiatives to improve partner relationships among companies. PRM solutions offer tools to businesses to track sales partners and affiliates. It also provides a private portal for all partners, where they can easily access campaign materials, documents, opportunities, deals, and market development funds. Therefore, the gradual increment in the adoption rate of PRM solutions is surging the growth of the PRM market.
The China market dominated the Asia Pacific Small & Medium Enterprises Partner Relationship Management Market by Country 2020, thereby, achieving a market value of $45.8 million by 2027. The Japan market is experiencing a CAGR of 15.3% during (2021 - 2027). Additionally, The India market is poised to witness a CAGR of 16.5% during (2021 - 2027).
Based on Component, the market is segmented into Solution and Services. Solution Segment is further bifurcated across Engage, Manage and Collaborate. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into Telecom & IT, Retail & Franchising, BFSI, Healthcare, Manufacturing, Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Partner Relationship Management Market is Projected to reach USD 2.1 Billion by 2027, at a CAGR of 11.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Salesforce.com, Inc., Oracle Corporation, Allbound, Inc., Mindmatrix, Inc., Kiflo SAS, AppDirect, Inc., Impartner, Inc., Affise, Inc., WorkSpan, Inc. and Creatio.
By Component
By Deployment Type
By Enterprise Size
By End User
By Country
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