The global Sales Intelligence Market is expected to grow from USD 2.0 billion in 2019 to USD 3.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period. Factors that drive the market growth of the sales intelligence market are imminent need for advanced software to improve customer targeting and connect rates, and growing demand for data enrichment software to improve sales conversions.
Large enterprises segment to hold the largest market size during the forecast period
Increasing competition and the rising rate of data decay, compel large enterprises to implement sales intelligence software for preventing data inaccuracies with data enrichment capabilities of the software as well as maintain an edge over their competitors. These data inaccuracies can not only decrease the connect rates of the companies but can also lead to bad brand image due to wrong targeting. Furthermore, rising technological proficiency among the large enterprises further adds to the high adoption of sales intelligence software during the forecast period.
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Services segment to grow at a higher CAGR during the forecast period
The services segment is expected to grow at a higher CAGR during the forecast period due to the need of constant guidance throughout the planning and implementation process, training, and support among enterprises, during the product deployment life cycle. Services enable companies to choose the right set of software as well as helps them deploy software correctly and operate them without hassle.
The sales intelligence market comprises major solution providers, such as DiscoverOrg (US), Dun & Bradstreet (US), LinkedIn (US), Oracle (US), Demandbase (US), InsideView (US), Clearbit (US), HG Insights (US), LeadGenius (US), Infogroup (US), UpLead (US), RelPro (US), DueDil (UK), EverString (US), RingLead (US), Gryphon Networks (US), List Partners (US), FullContact (US), Yesware (US) and Zoho (US). The study includes an in-depth competitive analysis of these key players in the sales intelligence market with their company profiles, recent developments, and key market strategies. The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements; and partnerships, acquisitions, and collaborations; have been the most dominating strategies adopted by the major players from 2018 to 2019, which helped them strengthen their offerings and broaden their customer base.
Dun & Bradstreet (US) is among the leaders in the sales intelligence market with a prominent geographic presence. The company has alliances with many leading companies that have acquired various companies to enhance its sales intelligence offering. For instance, in July 2019, Dun & Bradstreet acquired Lattice Engines, an AI-powered Customer Data Platform (CDP), to provide customers with full access to data and insights in the Dun & Bradstreet Data Cloud and identity resolution capabilities combined with Lattice Engines’ AI and analytics-enabled CDP. The Lattice Engines’ precision engine easily segments audiences and provides next best actions.
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DiscoverOrg (US) has a strong foothold in the sales intelligence market with robust offerings and high-level Business to Business (B2B) contact and company data. It has adopted various organic growth strategies and has continued to enhance its expertise in the sales intelligence market through constant acquisitions and partnerships. For instance, in February 2019, DiscoverOrg acquired a sales intelligence platform provider, ZoomInfo, to create a comprehensive B2B intelligence platform by combining ZoomInfo’s contact database of 100 million business professionals with its prospect intelligence software.
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