The global sales intelligence market size is expected to reach USD 5.03 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 10.5% from 2020 to 2027. Sales intelligence refers to a wide range of technologies, such as marketing automation, used to help organizations find, monitor, and understand sales-related data containing insights into their clients’ daily business activities. These tools help gain necessary information and other business traits of the companies by indexing their real-time information from millions of public and open data sources. Sales prospecting is one of the significant advantages of sales intelligence as it helps find the right companies for business based on the characteristics of target companies.
The COVID-19 outbreak has created significant challenges and uncertainties for the sales intelligence industry. However, this epidemic has accelerated certain activities related to the speed of automation and digital transformation. Several industry verticals have shown high acceptance of digital approaches on lead generation client interaction. Also, key players are leveraging technologies, such as machine learning and artificial intelligence, to enhance productivity and improve resilience. For instance, in April 2020, Exabel, a Norway-based FinTech company, partnered with the 1010data, Inc., a U.S.-based data provider to the retail, consumer goods, and banking and finance industries. Under the partnership agreement, both the companies are developing COVID-19 impact dashboards, deriving the useful insights from multiple sets of live credit and debit transaction data. These insights are anticipated to provide investors real-time data into how this epidemic impacts consumer spending in retail, grocery, and general merchandise, and travel industries across the U.S.
The global sales intelligence industry has been witnessing substantial transformations due to the fundamental shift in technology and finance worldwide. Such considerable rapid progress in technology in the past two decades has certainly improved the way industry professionals store and process data. The cost of gathering and processing of stock market data across verticals has consequently reduced, which has introduced new opportunities for improvement in decision-making mechanisms across industries. Analytics has revolutionized the problem-solving paradigms of the sales intelligence industry by reforming the functioning of some of the dimensions, including client profiling, lead generation, product recommendations, customer churn, sentiment analysis, and marketing and strategy.
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