The Asia Pacific Sales Performance Management Market would witness market growth of 15.7% CAGR during the forecast period (2020-2026). Within the SPM domain/environment, every sales employee gets the training to increasingly adopt repetitive behaviour in order to evaluate them on the same yardstick. The demand for sales performance management solutions is consistently increasing as they offer several advantages.
SPM solutions encourage the enhancement of sales employees, thereby acting as an essential factor in increasing the sales of a company. It decreases sales issues like high sales team churn rate, increasing sales cycles, imprecise sales predictions & an absence of alignment with marketing. The demand for sales performance management solution is increased by the need to simplify the business process with respect to selling and purchasing.
On the other hand, the major restraint for the market growth is the reluctance by small & medium enterprises to adopt high-cost tools for business processes. Moreover, one of the significant obstacles in the growth of the sales performance management solutions market is the absence of awareness of sales performance management solutions.
The procedure of tracking & regulating performance of a person to improve his skills to provide services or to sell products is known as sales performance management. To educate & motivate sales employees to recognize & achieve objectives in order to fulfil customer requirement is one of the prime goals of sales performance management process. Several aspects like planning & developing goal, feedback & performance review, and developing skills fall under the domain of sales performance management. In order to carry out different tasks such as monitor job forecasting & evaluation, incentive compensation, territories & sales quotas.
Based on Component, the market is segmented into Solution and Services. Solutions segment is further bifurcated across Sales Planning & Monitoring, Sales Performance Analytics & Reporting, Territory Management, Incentive Compensation Management and Others. 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 BFSI, Travel & Hospitality, IT & Telecom, Healthcare, Manufacturing, Consumer Goods & Retail and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The China market dominated the Asia Pacific Small & Medium Enterprises Sales Performance Management Market by Country 2019, and would continue to be a dominant market till 2026. The Japan market is experiencing a CAGR of 16.9% during (2020 - 2026). Additionally, The India market is poised to grow at a CAGR of 18.1% during (2020 - 2026).
The BFSI market dominated the Malaysia Sales Performance Management Market by End User 2019, thereby, achieving a market value of $15.6 million by 2026. The Travel & Hospitality market is showcasing a CAGR of 21% during (2020 - 2026). The IT & Telecom market is estimated to grow at a CAGR of 18.3% during the forecast period. Additionally, The Healthcare market is expected to witness a CAGR of 20.8% during (2020 - 2026).
Free Valuable Insights: Sales Performance Management Market in Asia Pacific is expected to register a CAGR of 15.7% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Oracle Corporation, NICE Ltd., Salesforce.com, Inc., Anaplan, Inc., Zoho Corporation Pvt. Ltd., Xactly Corporation, Beqom SA, Iconixx Software Corporation, and Varicent Software, Inc.
By Component
By Deployment Type
By Enterprise Size
By End-User
By Country
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