Partner relationship management (PRM) solutions enable companies to manage all aspects of partner relationships including communication, training, marketing development funds, and performance tracking. PRM solutions provide effective partner onboarding along with ongoing training and support. Such all-inclusive partner management helps companies boost sales through channel partners while delivering satisfying partner experiences.
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 key trends:
Cloud deployment of PRM solutions has seen significant growth over the past few years. The shift towards cloud-based models allows for flexible scalability, reduced IT costs, and remote access. As more partners and vendors adopt cloud technologies, cloud deployment of PRM solutions helps streamline processes throughout the entire partner lifecycle from onboarding to offboarding. Vendors are offering SaaS-based PRM solutions to capture this growing demand. With the capabilities to handle large partner networks securely and cost-effectively via the cloud, cloud deployment is expected to remain a major driver accelerating the growth of the partner relationship management solution market during the forecast period.
Segment Analysis
The global partner relationship management solution market is segmented based on component, deployment type, organization size, vertical and region. Based on component, the market is segmented into software and services. The software segment dominated the global market with around 70% market share in 2023 owing to rising demand of partner relationship management software from small and medium sized organizations to streamline their partner relationship management activities.
Key Takeaways
The Global Partner Relationship Management Solution Market Demand is expected to witness high growth during the forecast period of 2023 to 2030. The market size is projected to reach US$ 17760.06 Mn by 2030, expanding at a CAGR of around 18%.
Regional analysis
Regionally, North America dominated the global market with over 35% revenue share in 2023. Presence of major solution providers such as Salesforce.com, Inc. and Oracle Corporation has supported the growth of the regional market. Asia Pacific is expected to witness fastest growth during the forecast period supported by increasing adoption of partner relationship management solutions by enterprises in developing countries such as India and China for better partner relationship management.
Key players
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, Inc. and Oracle Corporation capture around 35% of the global market share due to their widespread presence and strong product portfolio.
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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.
