Sales Enablement Platform Market Size, Share & Trends Analysis Report By Component (Platform, Service), By Organization Size, By End-use Industry, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global sales enablement platform market size was valued at USD 3.6 billion in 2021 and is expected to expand at a CAGR of 15.5% from 2022 to 2030. The growth of the market is attributed to a rise in investments by businesses in technologies such as machine learning & AI and the adoption of sales enablement platforms across several industries to enhance their efficiencies towards content management, training, sales communication, and training.

However, changing consumer preferences coupled with inconsistent user experience are likely to limit the growth of the market. In addition, the lack of optimized content and lack of co-ordination between marketing and sales teams is impacting the overall market.

The COVID-19 pandemic had a positive impact on the sales enablement platform market. Businesses were shut down due to government-imposed regulations and travel restrictions; which compelled several companies to adopt a hybrid work environment. The industry witnessed a change owing to the adoption of digital sales rooms and the integration of video conferencing for sales teams.

Several market players are setting up digital sales rooms (DSRs) to streamline the seller and buyer experience. DSRs provides a single location for access to content and communication related to a sales cycle. These can be used to collaborate with stakeholders. In addition, the digitization of industries and the rising adoption of connected devices have also promoted the demand for sales enablement platforms.

The use of AI in sales enablement during the pandemic also accelerated market growth. For instance, Allego, a sales enablement market player, reported that close to 50% of sales reps expressed a desire to be trained in virtual selling and AI. Call recordings and AI-based analysis can equip managers with insights necessary to coach sales reps.

Component Insights

The platform segment accounted for the largest revenue share of 74.3% in 2021 and is likely to dominate the market over the forecast period. The sales enablement platform helps organizations with a single platform to manage their sales team. Several organizations across different industries are adopting the use of a sales enablement platform to increase efficiency in aspects such as training, coaching, content management, and sales communication. The continuously changing buyer preferences have compelled companies to invest in coaching and training of inbound sales teams. For example, as per Spotio, a sales enablement platform, 81% of sales executives stated utilization and content search as the top productivity improvement areas.

The service segment is expected to witness fastest growth rate of 16.1% during the forecast period.Sales enablement services include sales onboarding programs, sales communication, training programs, content creation, sales coaching, sales tools, and advanced analytics. Sales enablement services help companies channel legacy systems through the use of advanced analytics and take care of implementation and training. Several vendors across different industry verticals are adopting the usage of sales enablement services to drive sales. For instance, Marketron, a software solution provider offers “Pitch by Marketron” to help media professionals succeed with integrated campaigns.

Organization Size Insights

The large enterprise segment held the largest revenue share of 65.1% in 2021. Factors such as lack of resource utilization and legacy system constraints limit the growth of the large enterprises. The lack of flexibility can limit large enterprises to limit their capacity of testing newer strategies. The use of a sales enablement platform can equip sales representatives to shorten the sales cycle and increase their win rates. As per Highspot’s sales enablement study, organizations reporting more than USD 750 million have deployed a specialized enablement team for boosting sales.

In addition, the rise in usage of AI-powered sales enablement solutions has further increased the demand for sales enablement platforms among large enterprises. Seismic, a key player in the sales enablement industry, provides sales enablement solutions for large enterprises to improve efficiency and driving sales.

On the other hand, the small & medium enterprise is expected to witness the fastest growth rate of 16.6% during the forecast period.Small and medium enterprises (SMEs) play an important role in the economic landscape globally by contributing to job creation and economic development. Sales enablement for smaller businesses helps reduce the sales cycle and increase the company’s revenue. Sales enablement platforms for smaller businesses also help provide the sales team with adequate training, improve the consumer experience, reduce customer churn, and shorten the sales cycle.

Deployment Insights

The cloud segment held the largest revenue share and is expected to expand at the fastest CAGR of 15.9% during the forecast period. Cloud enablement services provide a highly scalable platform that simplifies high-performance computation for both small and large enterprises. The adoption of cloud deployment reduces operating costs and streamlines delivery.

During the COVID-19 pandemic, organizations have struggled with data center outages and applications. Cloud technology can help organizations build scalable and resilient IT infrastructure. Several companies operating in the space rely on the use of the cloud to reduce expenditure costs. For instance, Seismic provides a sales enablement cloud that provides end-to-end solutions for the sales team.

End-use Industry Insights

Based on the end-use industry, the sales enablement platform is segmented into BFSI, IT & telecom, consumer goods & retail, media & entertainment, healthcare & life sciences, and others. The consumer goods & retail segment held the largest revenue share of 25.1% in 2021 and is expected to maintain its position during the forecast period. Rising competition from rival players, the growing presence of cost-sensitive consumers, and an increasingly diverse sales network have driven the need for sales enablement in the consumer goods and retail sector.

Changing consumer behavior and dynamics, as well as a rise in the number of informed consumers, have presented the consumer goods and retail sector with numerous challenges over the years.

The digitalization of the retail sector is also expected to drive the demand for sales enablement platforms. The U.S. Census Bureau has been providing new and updated data that tracks the contribution of e-commerce to total retail sales in the country to recognize the importance of e-commerce in the retail economy.

Regional Insights

North America dominated the market with a share of 31.7% in 2021 and is anticipated to retain its position over the forecast period. The market is driven by the presence of sales enablement players in the region coupled with the rising adoption of connected devices. The entry of new market players in the sales enablement industry with an approach toward offering AI-based content management solutions and training of sales reps is driving the market in the region.

A rise in the number of sales enablement platforms that focus on providing personalized content and coaching depending on the type of industry is boding well for the market. The inclusion of microlearning, sales gamification, and AI-enabled sales metrics are anticipated to yield high revenue for the sales enablement platform. In January 2022, Highspot entered into a partnership with Outreach, an intelligence platform provider. Through the partnership, the company will be able to conduct efficient and effective buyer engagement.

Asia Pacific is anticipated to expand at the fastest CAGR of 17.7% during the forecast period. The presence of numerous small and large enterprises acts as an opportunity for the sales enablement platform market. According to Deskera, a CRM provider based in Asia, demand for sales tools such as CRM is attributed to the rising investments in analytics and BI and increased spending on cloud deployment and SaaS. In addition, supportive government policies to promote digitalization of industries is driving the growth of the market. For instance, the Singapore government has allocated USD 2 billion since 2010 under the Smart Nation programme for the digitalization of industries.

Key Companies & Market Share Insights

The market has a fragmented competitive landscape as it features various global and regional market players. Leading industry players are undertaking strategies such as product launches, collaborations, and partnerships to survive the highly competitive environment and expand their business footprints.

In October 2022, Bigtincan Holdings Ltd. announced the launch of sales enablement application for macOS. The application will help sales representatives to work efficiently from their devices and location of choice through a virtual sales landscape. Also in September 2022, Seismic announced a partnership with Microsoft for its seller experience application. Through the partnership, Seismic provided task automation, content production and engagement intelligence to Microsoft’s seller platform “Viva Sales”. Some of the prominent players operating in the global sales enablement platform market are:

• Bigtincan Holdings Ltd.

• Seismic

• SAP

• Accent Technologies, Inc.

• Bloomfire

• Brainshark, Inc.

• ClearSlide

• Highspot

• Mediafly

• Pitcher AG

• Mindtickle Inc.

• QorusDocs Ltd.

• Rallyware Inc.

• Qstream Inc.

Sales Enablement Platform Market Report Scope

Global Sales Enablement Platform Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global sales enablement platform market report based on component, organization size, deployment, end-use industry, and region:

• Component Outlook (Revenue, USD Million, 2017 - 2030)

  • Platform

  • Service

• Organization Size Outlook (Revenue, USD Million, 2017 - 2030)

  • Large Organizations

  • Small & Medium Organization

• Deployment Outlook (Revenue, USD Million, 2017 - 2030)

  • Cloud

  • On-Premise

• End-use Industry Outlook (Revenue, USD Million, 2017 - 2030)

  • BFSI

  • IT & Telecom

  • Consumer Goods & Retail

  • Media & Entertainment

  • Healthcare & Lifesciences

  • Manufacturing

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Rest of Europe

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Middle East & Africa

    • UAE

    • Saudi Arabia

    • South Africa

    • Rest of MEA