The global Partner Relationship Management Solution Market is estimated to be valued at US$ 17760.06 Mn in 2023 and is expected to exhibit a CAGR of 18.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Partner Relationship Management Solution helps companies build, manage, and maximize partner relationships across multiple channels. It provides visibility into partner activities and helps track performance-based incentives and payments.
Market key trends:
One of the major trends in the Partner Relationship Management Solution market is the growing adoption of artificial intelligence and machine learning technologies. Vendors are increasingly incorporating AI/ML capabilities into their solutions to offer personalized recommendations, automate mundane tasks, and gain deep insights into partner behaviors. This is allowing partners to focus more on value-added activities while improving overall productivity and relationship management.
Segment Analysis
The global partner relationship management solution market can be segmented based on deployment, enterprise size, application, and geography. By deployment, the market is divided into cloud and on-premises. The cloud segment dominates the market due to advantages like scalability, easy accessibility, and low operational costs. By enterprise size, the market is bifurcated into large enterprises and small & medium enterprises. Large enterprises dominate the market owing to their higher spending capacity and large number of partner networks.
By application, the market is classified into sales management, marketing management, risk and compliance management, operations management, and others. Marketing management holds the largest share as partner relationship management solutions help organizations improve partner performance for marketing and sales campaigns.
Key Takeaways
Global Partner Relationship Management Solution Market Size is expected to witness high growth, exhibiting a CAGR of 18% over the forecast period, due to increasing adoption of cloud-based services and growing demand for centralized partner management.
The Asia Pacific region is expected to grow the fastest in the market due to rapid digitalization and rising investments from organizations to improve partner relationships. North America currently dominates the market owing to strong presence of tech-giants and early adoption of advanced technologies.
Key players operating in the partner relationship management solution market are Salesforce.com, Inc., LogicBay Corporation, Oracle Corporation, Allbound Inc., International Business Machines Corp, Impartner Software, ZINFI Technologies, Inc., Zyme Solutions, PartnerPath, Blackhawk Engagement Solutions, Inc., The Planet Group, Allbound Inc., and Channeltivity, LLC. Salesforce.com holds the largest market share as it offers a comprehensive, scalable, and cloud-based PRM solution.
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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the partner relationship management market include Affise Inc., Allbound, Inc., Everflow, Impact Tech, Inc., LeadMethod, Inc., Magentrix Corporation, PartnerStack, PartnerTap, Zift Solutions and ZINFI Technologies.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Partner Relationship Management Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/partner-relationship-management-market/download-sampleMarket DynamicsOwing to the increasing need for planning and managing channel communication to optimize the overall operations, the partner relationship management software is experiencing significant growth.
However, the lack of adoption of partner relationship management software by SMEs in underdeveloped and certain developing countries is hampering the market's growth.
Meanwhile, organizations' growing inclination for developing strategic alliances is anticipated to create substantial growth opportunities for the partner relationship management software market.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
