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Sales Performance Management (SPM) Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Research Report Covers Global Sales Performance Management Software Market Growth and is Segmented by Deployment (On-premise, Cloud), by Solution (Incentive Compensation Management, Territory Management, Sales Monitoring and Planning, Sales Analytics, and Other Solutions), by End-user Vertical (BFSI, Manufacturing, Energy and Utility, Healthcare, IT and Telecom, and Other End-user Verticals), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

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Sales Performance Management (SPM) Market Size

Sales Performance Management Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 2.51 Billion
Market Size (2029) USD 5.61 Billion
CAGR (2024 - 2029) 17.43 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Sales Performance Management Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Sales Performance Management Market with other markets in Technology, Media and Telecom Industry

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Sales Performance Management (SPM) Market Analysis

The Sales Performance Management Market size is estimated at USD 2.51 billion in 2024, and is expected to reach USD 5.61 billion by 2029, growing at a CAGR of 17.43% during the forecast period (2024-2029).

Sales performance management refers to a set of operational and analytical services that aid in the automation and integration of back-office sales operations. Among other aspects of sales performance, it focuses on forecasting, insights, gamification, quota setting, and advanced analytics. Account segmentation, territory planning, incentive compensation, standard reporting, and pipeline optimization also exist. Organizations are using SPM tools and approaches throughout the globe to increase operational efficiency and effectiveness.

  • Organizations are rapidly growing and transforming their entire environment into a digital platform. So, to empower their growth and accelerate the enterprise's acceleration in the rapidly changing market circumstances, organizations are using SPM software, which assists them in establishing a business roadmap and implementing their plans much more efficiently. SPM offers an organized and transparent solution between the organization and its personnel.
  • Various organizations utilize sales performance management to reduce processing time and error at a significant rate. The active and effective management of performance payouts and incentives has significantly driven the demand in the SPM market. The growing demand for accurate measurement and tracking of sales metrics and mitigation for IT staff may drive market growth over the forecast period.
  • Increasing audit, compliance, and visibility requirements boost the market's growth. There is an increased need for oversight in sales performance management. There is a growing desire to scrutinize the inner workings of the compensation system and the related processes.
  • However, the risk of damage and theft of recorded data would hinder the growth of the sales performance management industry. Furthermore, the market would face challenges due to a need to understand SPM solutions' benefits. Another reason obstructing the development rate of sales performance management is the reluctance of small and medium-sized organizations to invest in costly business process software and technological obstacles.
  • The onset of the COVID-19 pandemic has forced many sales teams to operate remotely, changing the way they provide value and engage with buyers without in-person interaction. This shift has resulted in an increased demand for the adoption of SPM. After the pandemic, the market is growing positively, owing to increased digital penetration.

Sales Performance Management (SPM) Market Trends

This section covers the major market trends shaping the Sales Performance Management Market according to our research experts:

Increasing Demand for Sales Mobility Driving Market Growth

  • Next-generation mobility solutions would automatically enter client meeting information into CRM and even send and track follow-up emails after the meeting. By adding the details of a specific meeting to the CRM in the blink of an eye without the hassle of logging in from a home office later or messing up the data added to the system, sales teams can keep a full and accurate account of customer interactions while minimizing time spent on administrative tasks.
  • Furthermore, the advent of audio-video conferencing application programming interfaces to promote personalization and productivity would expand the market's favorable potential. Furthermore, rising demand for lowering the risk of sudden sales and proper pattern forecast would function as market drivers, increasing the growth rate of the sales performance management market.
  • Machine learning and artificial intelligence (AI) applications boost the sales teams' efficiency. Today's platforms may make specific recommendations to salespeople, such as what materials and content they should use to advance a sales scenario or who they should follow up with at key phases of the sales process. AI can also assist each rep in learning from the highest performing colleagues on their team and guiding them to achievement when in front of their client. AI enables sales teams to perform better by providing them with a personal assistant to support them daily.
  • According to a survey conducted by Algorithmia, the top artificial intelligence and machine learning use case last year, at 57%, is improving customer experience. Machine learning and artificial intelligence can assist in advancing a range of business operations.
  • Many sales teams still utilize laptops for customer-facing presentations, which may be inconvenient. It frequently necessitates Wi-Fi connectivity within the customer's workplace, powering up a PC before the presentation, connecting to the conference room projector or TV, and so on. In today's advanced mobile landscape, firms would empower sales personnel to deliver customer presentations using their phone or tablet. Furthermore, there is no justification for content rendering difficulties or display controls on mobile devices with modern software.
Sales Performance Management Market : Use Case Frequency of Machine Learning and Artificial Intelligence, In Percentage, 2020-2021

North America is Expected to Register High Growth

  • Markets, such as North America, have been closer to maturing, and sales in such highly competitive environments need sales enablement platforms to help companies implement, scale, and execute their sales enablement strategies.
  • The North American region is well known as the hub for major consumer electronics and software giants worldwide, like Google, Microsoft, SAP, and Oracle. These companies actively contribute to the demand for SPM in the region as they implement several marketing strategies to gain clients worldwide.
  • The telecom market in the region is another significant contributor to the demand for SPM in the same. The market is highly competitive and dominated by major brands like T-Mobile and Verizon. Every loyal customer earned is a long-term benefit in the telecom business. This forces the companies to set higher targets for the regional sales force to gain more customers.
  • The growing demand for accurate measurement and tracking of sales metrics and mitigation for IT staff may drive market growth in the North American region over the forecast period. Furthermore, regional organizations are increasingly eliminating the idea of using complicated excel spreadsheets to manage sales performance.
  • The companies demand customizable, streamlined, and flexible systems to manage and offer analytics based on their sales performances, which may boost market growth over the forecast period.
Sales Petormance Management Market - Growth Rate by Region

Sales Performance Management (SPM) Industry Overview

The sales performance management market is moderately fragmented due to the presence of both global players and small and medium-sized enterprises. The key players in the market are Anaplan Inc., Beqom SA, Varicent Software Inc., Iconixx Software Corporation, and Incentive Solutions Inc., among others. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

  • June 2022: Beqom, one of the global leaders in cloud-based compensation management software, announced a partnership with sa.global, a Microsoft Dynamics Gold Partner, to offer advanced compensation management to Microsoft Dynamics 365 customers.

Sales Performance Management (SPM) Market Leaders

  1. Anaplan Inc.

  2. Beqom SA

  3. Varicent Software Inc.

  4. Iconixx Software Corporation

  5. Incentive Solutions Inc.

*Disclaimer: Major Players sorted in no particular order

Sales Performance Management Market Concentration
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Sales Performance Management (SPM) Market News

  • September 2022: Infosys, one of the global leaders in next-generation digital services and consulting, announced a partnership with Microsoft Cloud for Retail. Retail organizations can swiftly reimagine consumer experiences, renew processes, and magnify systems using cloud and data due to this partnership. Infosys' team of Microsoft-certified professionals would use Microsoft Cloud for Retail to build digital solutions that can be quickly deployed and provide retailers with faster time-to-market through an accelerated Agile cloud transition. Using the cloud, retailers would gain efficiency in in-store operations, pricing and promotions, sales, and inventory management.
  • August 2022: Beqom, a cloud-based compensation management solution that unifies all compensation and rewards processes on a single platform, from salary and bonus to deferred incentives and sales commissions, announced the acquisition of Our Tandem, a continuous performance management platform that drives people development through personalized feedback, coaching, and goal setting. As a result, Beqom accelerates both internal and external expansion.

Sales Performance Management (SPM) Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Intensity of Competitive Rivalry

      5. 4.2.5 Threat of Substitute Products

    3. 4.3 Assessment of the Impact of COVID-19 on the Industry

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Demand for Improved Sales Channels and Performance

      2. 5.1.2 Increasing Demand for Sales Mobility

    2. 5.2 Market Restraints

      1. 5.2.1 Lack of Awareness and Altering Organization Structure

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Deployment

      1. 6.1.1 On-premise

      2. 6.1.2 Cloud

    2. 6.2 By Solution

      1. 6.2.1 Incentive Compensation Management

      2. 6.2.2 Territory Management

      3. 6.2.3 Sales Monitoring and Planning

      4. 6.2.4 Sales Analytics

      5. 6.2.5 Other Solutions

    3. 6.3 By End-user Vertical

      1. 6.3.1 BFSI

      2. 6.3.2 Manufacturing

      3. 6.3.3 Energy and Utility

      4. 6.3.4 Healthcare

      5. 6.3.5 IT and Telecom

      6. 6.3.6 Other End-user Verticals

    4. 6.4 By Geography

      1. 6.4.1 North America

      2. 6.4.2 Europe

      3. 6.4.3 Asia-Pacific

      4. 6.4.4 Rest of the World

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Anaplan Inc.

      2. 7.1.2 Beqom SA

      3. 7.1.3 Varicent Software Inc.

      4. 7.1.4 Iconixx Software Corporation

      5. 7.1.5 Incentive Solutions Inc.

      6. 7.1.6 Nice Ltd

      7. 7.1.7 Oracle Corporation

      8. 7.1.8 SAP SE

      9. 7.1.9 Xactly Corporation

      10. 7.1.10 Salesforce.com Inc.

      11. 7.1.11 Performio Solutions Inc.

    2. *List Not Exhaustive

  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

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Sales Performance Management (SPM) Industry Segmentation

Sales performance management (SPM) is a suite of operational and analytical functions that automate and unite back-office operational sales processes. SPM is implemented to improve operational efficiency and effectiveness.

The sales performance management market is segmented by deployment (on-premise, cloud), solution (incentive compensation management, territory management, sales monitoring and planning, sales analytics, and other solutions), end-user vertical (BFSI, manufacturing, energy and utility, healthcare, IT and telecom, and other end-user verticals), and geography (North America, Europe, Asia-Pacific, and Rest of the World).

The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

By Deployment
On-premise
Cloud
By Solution
Incentive Compensation Management
Territory Management
Sales Monitoring and Planning
Sales Analytics
Other Solutions
By End-user Vertical
BFSI
Manufacturing
Energy and Utility
Healthcare
IT and Telecom
Other End-user Verticals
By Geography
North America
Europe
Asia-Pacific
Rest of the World
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Sales Performance Management (SPM) Market Research FAQs

The Sales Performance Management Market size is expected to reach USD 2.51 billion in 2024 and grow at a CAGR of 17.43% to reach USD 5.61 billion by 2029.

In 2024, the Sales Performance Management Market size is expected to reach USD 2.51 billion.

Anaplan Inc., Beqom SA, Varicent Software Inc., Iconixx Software Corporation and Incentive Solutions Inc. are the major companies operating in the Sales Performance Management Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Sales Performance Management Market.

In 2023, the Sales Performance Management Market size was estimated at USD 2.14 billion. The report covers the Sales Performance Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sales Performance Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Sales Performance Management (SPM) Industry Report

Statistics for the 2024 Sales Performance Management (SPM) market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Sales Performance Management (SPM) analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Sales Performance Management (SPM) Market Report Snapshots

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Sales Performance Management (SPM) Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)