Sales pipeline software is a sales customer relationship management (CRM) software platform that helps track information about open-leads, close-leads, and information about opportunities present in the market. Sales pipeline software is commonly utilized in all industry verticals, mostly used by sales representatives to track sales and revenue systems of an organization.
Sales pipeline software helps take follow-ups and set reminders for task completion for the sales representative so that leads are not missed. Increasing number of cyber-attacks and data thefts is a key factor projected to hamper the sales pipeline software market Adoption of sales pipeline software in various industries is increasing to improve the productivity of an organization by eliminating manual errors.
Global Sales Pipeline Software Market: Dynamics
Global Sales Pipeline Software Market: Key Drivers
- Rise in penetration of internet services in the automation industry is a key factor that is anticipated to fuel the demand for sales pipeline software during the forecast period
- Increase in adoption of sales pipeline software in mid-sized and small sized organizations of various industry verticals to manage the sales process is projected to drive the demand for the software during the forecast period
- Rise in adoption of sales pipeline software among various industry verticals to optimize the demand for selling products and services is also estimated to boost the market
- Lack of knowledge about sales pipeline software is also expected to hinder the market during the forecast period
- Sales pipeline software is likely to generate lucrative opportunities in SMEs of different industry verticals to manage the sales and revenue generating process of the business
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Impact of COVID-19 on the Global Sales Pipeline Software Market
- Increase in cases of COVID-19 across the globe is resulting in economic slowdown. The pandemic has created disruptions in several markets including the sales pipeline software market.
- Sales pipeline software provides physical and virtual assistance to salespeople to track sales leads effectively. However, various clients avoid personal meetings for safety purposes due to the COVID-19 pandemic situation. This is a key factor that is expected to boost the adoption of sales pipeline software in various organizations.
- Hence, demand for sales pipeline software is expected to increase during the COVID-19 situation
North America to Hold Major Share of Global Sales Pipeline Software Market
- In terms of region, the global sales pipeline software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is expected to dominate the sales pipeline software market during the forecast period due to the presence of several large and emerging players in the sales pipeline software market in the U.S. and Canada
- Increase in adoption of CRM software by various industry verticals in Europe is anticipated to fuel the demand for sales pipeline software in the region
- Increase in adoption of ERP software by IT and automotive industries in Asia Pacific is expected to drive the sales pipeline software market in the region
- Rise in penetration of e-commerce companies in Middle East & Africa is estimated to boost the demand for sales pipeline software in the region
- Adoption of advanced IT infrastructure in South America is anticipated to boost the demand for sales pipeline software in the region
Global Sales Pipeline Software Market: Competition Landscape
- Several key players operating in the sales pipeline software market are launching new services to gain a strong presence in the market and are witnessing rapid technological development
- For instance, in March 2021, Xactly, a prominent player in the sales pipeline software market, acquired artificial intelligence-based company TopOPPS to improve the performance of sales management software
- Freshdesk, a key player in the sales pipeline software market, introduced new sales software called freshsales – a customer relationship management solution for sales representatives
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Key Players Operating in the Global Sales Pipeline Software Market Include:
- Avora Holdings LTD. (Revenue Grid)
- Clari Inc.
- Freshworks Inc. (Freshworks CRM)
- Insightly, Inc.
- Infusion Software, Inc. (Keap)
- InsightSquared, Inc.
- MoData Inc.
- Pipedrive Services
- Rapidops, Inc.
- Salesflare BVBA
- SalesRabbit Inc.
- Serif (Europe) Ltd (Affinity)
- XANT, Inc. (InsideSale)
- Xactlycorp.com
- Zoho Corporation (ZOHO CRM)
- Zendesk, Inc. (Zendesk Sell)
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