Category : ICT | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC2329
The sales compensation software market is expected to experience rapid growth over the forecast period from 2020 to 2027.
Sales compensation is the combination of salary, commission, and other incentives that are used to drive the performance of a sales organization. It leverages target incentives within a sales force compensation plan and creates a new level of value within the sales organization. Moreover, top-performing sales organizations rely on sales compensation particularly to drive their performance.
Sales compensation software is used to automate the accounting and administration of commissions and incentive plans based on several customizable rules such as employee role, tenure, or sale type. This software is usually implemented as part of a broader compensation software infrastructure and may allow salespeople to view their quotas and progress while enabling management to generate reports to gain high-level insights into sales performance. It is generally utilized by sales, accounting, and administration teams including payroll, accounting, or billing software. Moreover, sales compensation tools can also be integrated with other sales tools such as sales performance management, sales analytics, or sales.
Market Dynamics
The rapidly increasing automation of work in almost every industry vertical is primarily supporting the market growth. The increasing development of advance and easy operational tools by the market players is supporting market growth. The technological advancement in the emerging economies are driving SMEs to shift towards automated solutions is further bolstering the market value. Additionally, the increasing funding and favorable government policies for the technology startup are further accelerating the market value.
On the other side, the risk associated with data privacy is projected to hinder the growth to an extent over the forecast period.
Global Sales Compensation Software Market Report Covers
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Market |
Global Sales Compensation Software Market |
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Analysis Period |
2016 – 2027 |
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Base Year |
2019 |
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Forecast Data |
2020 – 2027 |
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Market Stratification |
Products Type, Enterprise Size, End-Users |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Segment Instance
The global sales compensation software market is segmented on the basis of product type, enterprise size, end-user, and geography. On the basis of product type, the market is bifurcated into cloud-based and web-based. Based on enterprise size, market segments include large enterprises and small and medium-sized enterprises (SMEs). Additionally, the end-user include BFSI, healthcare, automotive, manufacturing, IT and telecom, retail, and others. Moreover, small and medium-sized enterprises (SMEs) are expected to exhibit the fastest growth over the forecast period. The increasing number of SMEs in developing economies is bolstering the segmental market value.
North America accounted for the maximum revenue share in the sales compensation software market
In 2019, North America was leading the sales compensation software market with a major revenue share (%) as the region has the presence of major developed economies that are highly dependent on technology solutions. The presence of major players in the region including Anaplan, Apttus, IBM, and Iconixx among others is another factor bolstering the regional market value.
Asia Pacific is projected to exhibit fastest growth throughout the forecast period from 2020 to 2027
The major developing economies of the region including China, India, and South Korea are supporting the regional market growth. The rapidly developing industrial sectors like BFSI, healthcare, automotive, manufacturing, IT & telecom, and retail are majorly supporting the regional market value. The features associated with the sales compensation software such as it enables the customization and administration of sales-based compensation plans, and produce reports for sales performance analysis are supporting its growth in the market.
The players profiled in the report include Anaplan, Apttus, Commissionly.io, IBM, Iconixx, NetSuite, NICE, Optymyze, Oracle, Performio, Qcommission, SAP (CallidusCloud), Xactly, ZS Associates, and others. The major players are also investing in the market for the development of advance and convenient solutions as well as to expand their share in the market.
Spiff Inc. (A SaaS sales compensation platform for sales and finance teams) has appointed Anna Fisher as Chief Marketing Officer (CMO) in December 2020. Anna Fisher joins Spiff after the company has closed multiple rounds of funding, won more G2 leader badges than any other provider in the sales compensation and sales performance management categories over the last 12 months.
Market Segmentation
Market By Product Type
Cloud Based
Web Based
Market By Enterprise Size
Large Enterprises
Small and medium-sized enterprises (SMEs)
Market By End-user
BFSI
Healthcare
Automotive
Manufacturing
IT and Telecom
Retail
Others
Market By Geography
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
