Sales Intelligence Market Updates: Recent Mergers and Acquisitions to Monitor

The global sales intelligence market size was valued at USD 2.95 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 10.8% from 2023 to 2030. Artificial intelligence (AI) has demonstrated a potential impact on the sales industry over the past decade. For instance, AI-enabled solutions like chatbots have improved customer interactions and related services in the B2C (Business-to-Consumer) domain. Also, fintech organizations offer the end-use industries a wide range of AI-supported advisor services to make automated investment decisions. Sales intelligence provides marketers with precise information about buyers and improves the process of content mapping and creation. The accessibility to real-time, enriched company data helps salespeople boost their lead generation process and transactions. Exponentially increasing data volumes, strict regulations, and low interest rates are encouraging organizations to reconsider their traditional business strategies.

Also, recent technological advancements have paved the way for artificial intelligence in sales and marketing operations. Connection of knowledge, domain-enriched Machine Learning (ML), and Natural Language Processing (NLP) are adopted by several companies to offer improved sales intelligence software and services. For instance, in September 2019, China Asset Management, a China-based fund management company, collaborated with Microsoft’s researchers to develop an AI model. This AI model analyzes the vast amount of real-time data of financial transactions, to provide insights about clients’ budgets and financial status. This partnership was done under Microsoft’s Innovation Partnership program, which allows the sharing of AI expertise with companies across various industries. This program is anticipated to help these industries derive digital transformation in their portfolio.

Gather more insights about the market drivers, restrains and growth of the Global Sales Intelligence Market

Detailed Segmentation:

Application Insights

The lead management segment accounted for the largest revenue share of 35.0% in 2022 and it is expected to expand at the fastest CAGR during the forecast period. This high share is attributed to the increasing adoption of AI platforms for lead generation and business expansion. For instance, LinkedIn Sales Navigator, a cloud-based sales intelligence platform offered by LinkedIn Corporation, is used by several large enterprises and SMEs for lead management. This platform enables advanced lead search and recommendations based on saved leads. It also offers real-time insights on respective leads and accounts.

Offering Insights

The software offerings segment accounted for the largest revenue share of 87.5% in 2022. This high share is attributed to the integration capabilities of sales intelligence software to be deployed within existing systems, such as marketing platforms and Customer Relationship Management (CRM). It is often preferred to enable the availability of multiple deployment options and quality data enrichment. Besides, the penetration of lead-generation software tools among organizations bolster the adoption of such solutions in the market.

Deployment Mode Insights

The cloud segment accounted for the largest revenue share of 61.3% in 2022 and is expected to expand at the fastest CAGR during the forecast period. This high share is attributed to the fact that cloud solutions eliminate the firewall restrictions that can hamper the users’ access to an on-premise solution. Cloud-based Software as a Service (SaaS) solution eliminates maintenance and overhead costs. Also, cloud object storage services provide virtually unlimited storage capacity that limits the scalability and storage volume restrictions of locally-placed hardware.

Organization Size Insights

The large enterprises segment accounted for the largest revenue share of 75.0% in 2022. This high share is attributed to the rising rates of data decay and increasing competition among key players in several industry verticals. Also, higher technological proficiency in large enterprises than in SMEs encourages the adoption of sales intelligence tools to reduce sales cycles and increase sales productivity. These tools provide large enterprises with data enrichment capabilities to maintain their position among competitors.

Vertical Insights

The IT & telecom segment accounted for the largest revenue share of 23.7% in 2022 owing to the increasing availability of data and the development of new technologies. As the overall IT & Telecom sector is growing owing to increasing investments and expansion of telecom infrastructure, the demand for sales intelligence solutions is expected to rise in the near future. For instance, COSO IT has been at the forefront of the revolution in the telecom sector, providing consulting solutions that have helped a number of clients achieve new heights in efficiency, customer engagement, customer service delivery, and business intelligence. The company's easy-to-integrate consulting services are highly preferred in the telecom sector, and they have delivered exceptional results in core aspects of the industry such as data integration, advanced analytics, business intelligence, predictive analysis, and machine learning-driven automation.

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Regional Insights

North America dominated the sales intelligence market and accounted for the largest revenue share of 43.8% in 2022. This high share is attributed to the presence of an enormous number of sales intelligence vendors. Several companies, including tech giants and start-ups, are developing sales intelligence platforms for different verticals. For instance, LinkedIn Corporation (U.S.) is one of the most preferred and trusted lead management applications. It offers the Sales Navigator platform to enable targeting the right companies and clients, along with personalized engagement.

Key Companies & Market Share Insights

Vendors in the market are focusing on increasing the customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, partnerships, and collaborations with other key players in the industry. For instance, in May 2021, IBM announced plans to acquire Waeg, a Salesforce Consulting Partner in Europe. With this acquisition, IBM planned to meet client demand for business transformation and customer engagement efforts, expand its portfolio of Salesforce consulting services, and move forward with its hybrid cloud and AI aspirations.

Key Sales Intelligence Companies: