Inside Sales Software Market - Introduction
- Inside sales software is an advanced sales platform to manage different sales activities such as sales leads, managing customer data and files, business reports, statistics & sales performance, and other inside sales activities.
- Inside sales software helps management staff and internal sales departments to quickly manage and organize the important information related to customers, business, and sales in different regions.
- The inside sales software caters to a large database of customers across a wide range of industries including manufacturing, wholesale distribution, retail, media, and publishing.
- Companies can manage the customers or sales lead pipeline to target potential customers and increase lead count for business growth.
- Lead generation and marketing companies are majorly adopting inside sales software to maintain the potential customers in the sales pipeline. This platform can be used by sales professionals on any smart device which increases the efficiency of the employees.
- Banking and insurance industry sees higher adoption rate of the inside sales software to manage their sales activity. The adoption is expected to increase during the forecast period.
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Key Drivers of the Inside Sales Software Market
- Increasing adoption of advanced software tools by sales professionals to manage the sales pipeline more efficiently in different industries is expected to drive the growth of the market. Increasing awareness of inside sales software among lead generation and marketing companies to increase the sales leads and manage the customer data base on a single platform for employees is also expected to boost the growth of the market.
- Increasing adoption of inside sales software in different industries is expected to generate revenue opportunities for software providers during the forecast period.
Increasing security threat by cyber-attacks and availability of open source software expected to hinder the market
- Increasing advancement in inside sales software also creates multiple ways for cyber-attacks on a company’s confidential information related to sales deals, customer information, and financial records, which may restrain the growth of the market.
- Availability of open source software of inside sales on the internet offered by several companies to increase their market penetration is also expected to hamper growth of the market.
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Impact of COVID-19 on the Global Inside Sales Software Market
- Companies are expanding their geographical presence to capture more market share in Asia Pacific due to increasing impact of COVID-19 on business growth. Companies are adopting new business strategies in sales and business leads which creates opportunities for solution providers of inside sales software in different industries.
- Many companies now operate their businesses on online platforms due to the lockdown conditions; companies are adopting inside sales software to secure the online platform for their customer database. Demand for inside sales software solutions is increasing during COVID-19 and is also set to increase during the forecast period.
North America to Hold Major Share of the Global Inside Sales Software Market
- North America holds prominent share of the inside sales software market due to increasing adoption of inside sales platforms by the banking and insurance service sector to increase the customer base.
- The inside sales software market in Asia Pacific and Europe is expected to expand the fastest during the forecast period due to increasing adoption of technologically advanced software platforms to manage sales data and enhance the efficiency of sale professionals in the regions.
Key Players Operating in the Global Inside Sales Software Market
Pipedrive is one of the leading global companies among web-based CRM solution providers for sales professionals. The company offers a CRM platform for employees in manufacturing, automobile, food & beverage, and other major industries. The web based CRM platform offers different services such as managing leads and deals, track communication, privacy, security, and insights & reports. The company operates its business in North America and Europe with a combined experience of more than 40 years. .
- Salesforce.com, Inc.
Salesforce.com, Inc. is a global provider of customer relationship management services to different industries. The company provides technological platforms to businesses to build and run business applications. Salesforce.com, Inc. offers a solution that helps users to manage their customer records, sales, and other enterprise operational data. The company offers solutions in marketing, analytics, sales, commerce, and services sectors.
Other key players operating in the global inside sales software market include Qsoft, Bitrix, Inc., Freshworks Inc., Copper CRM, Inc., Datanyze, Inc., ExecVision Inc., and Mixmax, Inc.
Global Inside Sales Software Market: Research Scope
Global Inside Sales Software Market, by Deployment
- Cloud Based
Global Inside Sales Software Market, by Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
Global Inside Sales Software Market, by End-user
- Lead Generation and Campaign Management Firms
- Consumer Electronics Products
Global Inside Sales Software Market Segmentation, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.