Blockchain Press Releases
Sales Performance Management Market worth $4.4 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 3, 2023 /PRNewswire/ — Sales enablement and coaching, improved analytics and visualisation, mobile and remote capabilities, integration with CRM and the sales tech stack are key components of the Sales Performance Management (SPM) market’s future growth. In order to improve sales performance and decision-making, user adoption and experience will be emphasised.
The Sales Performance Management Market size is expected to grow from USD 2.3 billion in 2023 to USD 4.4 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 13.6% during the forecast period, according to a new report by MarketsandMarkets™. The rising demand for metric-driven sales tools has driven market growth.
Browse in-depth TOC on “Sales Performance Management Market“
196 – Tables
48 – Figures
228 – Pages
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Scope of the Report
|
Report Metrics |
Details |
|
Market size available for years |
2019–2028 |
|
Base year considered |
2022 |
|
Forecast period |
2023–2028 |
|
Forecast units |
Million/Billion(USD) |
|
Segments Covered |
Component (Solutions, Services), Organization Size, Deployment Mode, and Vertical |
|
Geographies Covered |
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
|
Companies Covered |
Some of the major vendors offering SPM across the globe include SAP (Germany), Oracle (US), NICE (Israel), Anaplan (US), Xactly (US), Salesforce (US), Varicent (Canada), Optymyze (UK), beqom (Switzerland), Performio (US), Incentives Solutions (Israel), and more. |
Software segment to capture a large market share during the forecast period
The SPM market, by component, includes solutions and services. The solutions segment is projected to lead the market. SPM solutions optimize and enhance sales processes, improve performance, and drive revenue growth. There are different types of SPM solutions, including ICM, territory management, sales planning and monitoring, sales performance analytics and reporting, and others (sales coaching and gamification). The emerging technologies, such as AI, ML, and advanced analytics, and the integration capabilities of SPM solutions with various business platforms, such as ERP, CRM, and HCM platforms, have facilitated the streamlining of SPM processes and better management of sales representatives’ performance.
Integration & Implementation service segment to capture a second largest market share during the forecast period
Integration & implementation services focus on assisting organizations with seamlessly integrating SPM solutions into their existing sales infrastructure and ensuring a successful implementation process. These services encompass various activities to ensure a smooth transition and optimal utilization of the SPM solution. Service providers analyze the organization’s sales ecosystem, including existing systems, processes, and data flows. They assess the compatibility of the SPM solution with the organization’s infrastructure and business requirements.
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North America segment to capture a large market share during the forecast period
The SPM market has been segmented by region into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. As per region, North America is estimated to account for the largest market share in the global SPM market in 2023, and this trend is expected to continue during the forecast period. North America is the region with the most established SPM adoption due to several factors, including the existence of large enterprises with sophisticated IT infrastructure and the availability of technical expertise. North America’s two most significant contributors to the SPM market are the US and Canada. The trend is expected to persist during the forecasting period. It is a region with strict regulations for several economic sectors and advanced technology. Companies in North America prioritize optimizing their sales processes and driving revenue growth. SPM solutions provide the necessary tools and capabilities to enhance sales performance, improve efficiency, and maximize revenue potential. As a result, organizations across various industries actively seek SPM solutions to gain a competitive edge. North America is known for its technological advancements and early adoption of innovative solutions. SPM vendors in the region leverage emerging technologies such as artificial intelligence (AI), machine learning (ML), and data analytics to offer sophisticated SPM platforms.
Top Key Companies in Sales Performance Management Market:
Some of the major vendors offering SPM solutions and services across the globe are SAP (Germany), Oracle (US), NICE (Israel), Anaplan (US), Xactly (US), Salesforce (US), Varicent (Canada), Optymyze (UK), beqom (Switzerland), Performio (US), Incentives Solutions (Israel), Axtria (US), Iconixx (US), Gryphon Networks (US), ZS (US), CellarStone (US), Board (Switzerland), Zoho (India), InsideSales (US), Accent Technologies (US), Silvon Software (US), CaptivateIQ (US), Spiff (US), Ascent Cloud (Switzerland), Adventace (US), Plecto (Denmark), Spotio (US), SalesScreen (Norway), Centrical (US), Spinify (US), Ambition (US), Everstage (India), and InnoVyne (US).
Recent Developments:
- In March 2023, Salesforce announced new product suites for sales and service teams, bringing together solutions from across the Customer 360 to help any company unlock cost savings and create exceptional customer experiences.
- In February 2023, Performio launched its new product, Analytics Studio. The new analytics capabilities leverage predictive artificial intelligence (AI) to generate insights into payable and attainment trends by team, territory, or products, which informs and improves territory, quota, and comp recommendations. In addition, it reports on estimated compensation payables based on the current pipeline in a customer’s CRM system to better plan and manage company-wide commission payouts.
- In June 2022, Beqom opened an office in Tokyo as part of its ongoing Asia-Pacific expansion, naming industry veteran John Kirch as Head of Sales in Japan. The move follows Beqom’s recent announcement of global expansion plans fueled by a $300 million investment by Sumeru Equity Partners.
- In April 2022, Xactly announced the addition of Commission Earnings Forecasting to the Xactly Intelligent Revenue Platform. This solution eliminates lengthy manual processes and reduces financial risk related to unexpected commission expenses.
- In March 2022, Xactly announced the Xcelerate Partner Program, focusing on best-in-class enterprise software partners and systems integrators to support customer revenue growth.
- In August 2021, Varicent acquired Concert Finance (Concert), an innovative provider of commission software designed by compensation experts. The move to acquire Concert Finance started in May when Concert sought to scale its rapid growth. Varicent wanted to expand its Incentive Compensation Management (ICM) portfolio into the SMB market. The deal closed on July 9, 2021.
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Sales Performance Management Market Advantages:
- SPM solutions offer complete tools and functions to support sales teams in operating at their peak efficiency. They provide sales managers with real-time visibility into sales performance indicators, enabling them to spot problem areas and take preventative action. SPM solutions contribute to improved overall sales performance by coordinating sales efforts with company goals.
- SPM solutions give businesses the ability to match team and individual goals with sales targets. This keeps sales personnel motivated and focused on attaining goals that advance the strategic objectives of the business. SPM solutions’ incentive pay management tools assist in creating and implementing motivating compensation schemes that reward top performers and increase sales output.
- Advanced forecasting capabilities offered by SPM solutions enable organisations to estimate sales performance and revenue outcomes with accuracy. Sales executives are more equipped to make wise judgements and modify their plans when they have access to historical data, market trends, and real-time insights. This improves the efficiency of resource allocation, revenue forecasting, and sales planning.
- SPM systems come with tools for efficient quota and territory management. Based on variables including location, customer segments, and product lines, they assist in defining and allocating sales territory. Organisations may ensure a fair distribution of sales targets and boost the effectiveness of their sales teams by defining realistic quotas and tracking progress against them.
- SPM solutions offer strong analytics and reporting capabilities that give useful information about how well sales are performing. Organisations can spot patterns, opportunities, and bottlenecks by analysing sales data. The capacity to track key performance indicators (KPIs) at different levels, from individual sales agents to the entire sales organisation, is made possible by this.
- Effective sales coaching and training programmes are facilitated by SPM solutions. They offer resources to evaluate sales representatives’ performance, spot skill gaps, and conduct customised training. SPM solutions assist sales teams improve their capabilities and provide greater results by enabling continuous learning and development.
- SPM solutions simplify sales procedures while cutting down on administrative costs. Organisations can reduce human error, gain time, and boost operational effectiveness by automating processes including commission calculations, incentive plan administration, and data management.
- SPM solutions are built to scale as organisations expand and change along with the market. They can support growing sales teams, fresh product offerings, and changing sales tactics. To ensure smooth data flow and interoperability, SPM solutions also link with other business systems, such as CRM platforms.
Report Objectives
- To define, describe, and forecast the global SPM market based on components (solutions and services), deployment mode, organization size, verticals, and regions
- To forecast the market size of the five major regional segments: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
- To strategically analyze the market subsegments with respect to individual growth trends, prospects, and contributions to the total market
- To provide detailed information related to the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To strategically analyze macro and micromarkets1 with respect to growth trends, prospects, and their contributions to the overall market
- To analyze industry trends, patents and innovations, and pricing data related to the SPM market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for major players
- To profile key players in the market and comprehensively analyze their market share/ranking and core competencies.
- To track and analyze competitive developments, such as mergers and acquisitions, new product developments, and partnerships and collaborations in the market
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Blockchain Press Releases
Compass Mining Scales Texas Operations with 25 MW Bitcoin Mining Facility, Plans Further Expansion
Energizes Over 50 MW in 2024 Across Six States, with 35 MW Coming Online by January 2025
WILMINGTON, Del., Dec. 20, 2024 /PRNewswire/ — Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, proudly announces the addition of a new 25 megawatts (MW) Bitcoin mining facility in Texas to its growing network of North American operations. The facility is already fully built out and will be operational with an initial 5 MW of capacity by year’s end, scaling to 25 MW in early January 2025. Compass also plans to expand the facility’s capacity to 60 MW by Q3 2025.
The new Texas facility will house a mix of relocated machines from Compass’s existing sites, as well as newly deployed units, ensuring continuity for current customers while offering new clients a seamless and turnkey Bitcoin mining experience. By January 2025, new customers purchasing machines through Compass’s platform will have the option to deploy them at the “Texas 6″ site.
“Our new Texas facility represents another milestone in our mission to make bitcoin mining more accessible for everyone,” said Paul Gosker, CEO of Compass Mining. “We bring a wealth of experience from successfully operating at multiple locations across Texas, navigating the unique grid dynamics and leveraging local resources. For this site, we will provide our support and expertise, including assisting our site partner in hiring expert technicians who meet Compass’s high standards. This ensures high uptime and reliability, delivering the quality our customers expect.”
Compass’s strategy combines vertical integration through proprietary facilities, such as the new Iowa 4 site, with partnerships at third-party facilities renowned for high uptime and reliability. This dual approach allows the company to maintain operational flexibility while delivering reliable hosting solutions. The company has energized a total of approximately 50 MW of power capacity across mining facilities in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas in 2024, with plans to add another 35 MW by January 2025.
About Compass Mining
Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.
Media Contact
BlocksBridge Consulting
[email protected]
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DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be extending the festive fun with lavish virtual gifts for Bybit Card holders. From Dec. 20, 2024 to Jan. 31, 2025, with every swipe of their Bybit Card, users may get a chance to unwrap mystery gift boxes, including 1,000 in USDT and other exciting airdrops from DOGE to BTC—all rewards, no catches.
For each 100 USDT spent in eligible purchases with the Bybit Card, users will receive a lucky draw ticket to redeem a gift box on Bybit. Each gift box promises a crypto reward—from Christmas baubles in DOGE, SOL, ETH, XRP and BTC airdrops, all the way up to the grand prize of 1,000 in USDT. Registration is required and the special Holiday Giveaway ends at the end of Jan. 2025.
For users looking for a convenient way to utilize their crypto assets for daily spendings and debit payments, it is not too late to apply for the Bybit Card. The application and verification process takes minutes, and a virtual card will be issued as soon as the card is approved, enabling seamless digital payment on Apple and Android devices in applicable regions.
“The Bybit Card takes the hassle out of crypto off-ramp for regular users and weaves rewards and benefits into daily spendings. On top of regular cashbacks, we are introducing extra perks as our token of thanks to wrap up an eventful year in crypto,” said Joan Han, Sales and Marketing Director at Bybit.
The Bybit Card made expansive global footprints 2024 as crypto adoption continues to rise in the past year. Trusted and frictionless crypto payment solutions are in demand in various parts of the world, and Bybit is one of the natural habitats of crypto native consumers. Spanning from Buenos Aires to Amsterdam, the Bybit Card community is growing and so are the perks:
- Up to 10% cashback in USDT, BTC and ETH on eligible purchases
- Zero fees for instant virtual card issuance
- Zero annual or hidden fees
- Up to 8% APY
Enjoy this festive season in all its splendor. Eligible Bybit Card holders from all regions are welcome; terms and conditions apply: Bybit Card Holiday Giveaway: Swipe, Spend & Sparkle!
#Bybit / #TheCryptoArk #theBybitCard
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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Blockchain Press Releases
Bybit P2P Unlocks 20,000 USDT Prize Pools for Select Users in South Asia and Africa
DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be concluding 2024 with lucky spins all around for eligible users on Bybit P2P. With a chance at two grand bonus pools of 10,000 USDT each, select users in parts of South Asia and Africa stand to make the most of their P2P trades at Bybit.
From now to Dec. 31, 2024, eligible users may create their own P2P trading bonus at Bybit and unlock 100% chance of winning:
- South Asia: Eligible users in South Asia may sign up for the Grand Spin Extravaganza
- Africa: Eligible users may register to enter the P2P Prize Spinner
Successful participants may complete one or more referral, deposit, or trading tasks to earn up to 10 Lucky Draw Tickets. Tasks start at beginner level including a first-time deposit of 10 USDT. With a Ticket, users get to spin the wheel of fortune for a guaranteed airdrop from the 10,000 USDT Prize Pool.
As communities in the Global South start to build and diversify their wealth, millions are in dire need of modernized and inclusive financial infrastructures. The digital asset class offers an alternative for grassroot investors in emerging markets, demonstrating transformative power to shape the future of growth.
Bybit’s peer-to-peer trading platform provides user-friendly and trusted tools for P2P merchants and buyers. Users can compare and execute trades at an optimal price agreed upon by both parties, carried out on Bybit’s ultra smooth trading platform at zero fees. Supporting over 60 fiat currencies and over 300 payment methods, Bybit P2P contributes to democratizing access to the digital economy.
Users who have completed Bybit Identity Verification Level 1 may log in to confirm their eligibility. Terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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