Global Salesforce Services Market: Overview
In the present time, every organization wants to provide connected and improved customer experiences across various departments and channels. Salesforce service providers are making an offering of end-to-end support to the end-users. Salesforce services are tailor-made to cater to the varied requirements of the customers. Riding on the back of high demand across industries, the global salesforce services market is expected to make rapid strides along its growth trajectory during the review period, from 2019 to 2027.
The global salesforce services market has been segmented based on type of service, application, vertical, and region.
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Global Salesforce Services Market: Notable Developments
The global salesforce services market has witnessed many changes over time. One such development that has made a mark in the market is mentioned below:
- In December 2017, Salesforce, leading provider of CRM services, introduced a top-notch analytics tool called Salesforce Einstein Analytics. This advanced tool is meant to assist CRM users worldwide to with an added layer of artificial intelligence (AI). Integration of AI into the workflow of analytics enables CRM insights and suggests course of action to be taken to improve sales and marketing campaigns. It also offers enhanced customer experience. As such, the introduction of Salesforce Einstein Analytics is expected to positive impact the salesforce service market across the globe.
Some of the leading market vendors of the global Salesforce Services market are as follows
- Accenture PLC
- Salesforce.com, Inc.
- Deloitte Touche Tohmatsu Limited
- DXC Technology Company
- NTT DATA Corporation
- Tech Mahindra Limited.
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Global Salesforce Services Market: Key Trends
The following drivers and trends are expected to define the global salesforce services market during the assessment timeframe.
Increased Focus on Customer Satisfaction to Augment Demand
Supporting technological evolutions that is prevailing in the global salesforce services market, business organizations are gradually drifting away from totally on-premise solutions and making way for three emerging cloud computing services, namely Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS). Various CRM tools, such as salesforce services are adopted by enterprises of different sizes due to their compatibility and countless features. These cloud computing services offer viable solutions to cater to the increasing and varied needs of the customers spread across the globe. These customers come from various backgrounds, from sales to marketing to distribution. The varied services provided by salesforce services comprise internet of things (IoT), mobile, artificial intelligence solutions, and mobile. These factors are likely to boost the global salesforce services market during the assessment period.
The global salesforce services market is likley to gather momentum from the countless implementations of salesforce services across many organizations. The providers of salesforce services have turned the spotlight on providing unique experience so as to maximize profit.
The global salesforce services market is expected to benefit from the growing adoption of salesforce services in the banking, financial services, and insurance (BFSI) sector. This trend is highly likely to continue over the period of forecast, from 2019 to 2027. Of late, the BFSI sector has placed utmost importance on customer retention and real-time, effective customer engagement spreading across various platforms. Customer oriented approach in the BFSI sector is likely to offer ample growth opportunities to the global salesforce services market.
Global Salesforce Services Market: Geographical Analysis
Latin America, Asia-Pacific, Middle East and Africa, Europe, and North America comprise the major regions of the global salesforce services market.
From the regional perspective, North America is estimated to account for a large chunk of the global salesforce services market. Most of the large, medium and small scale organizations in the region are making significant amount of investment in salesforce services to maximize revenue and retain market position. This has encouraged providers of salesforce services to go for larger base of audience across the major regions of the globe including Canada, the U.S., China, and India.
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.