Sales Compensation Software Market Analysis - Global Industry Size, Share, Trends and Forecast 2020 - 2027

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

Market

Global Sales Compensation Software Market

Analysis Period

2016 – 2027

Base Year

2019

Forecast Data

2020 – 2027

Market Stratification

Products Type, Enterprise Size, End-Users

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

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


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