Partner Relationship Management Solution Market Is Estimated To Witness High Growth
Market Dynamics:
The Partner Relationship Management Solution Market is estimated to witness high growth owing to extensive adoption by enterprises globally. The growing complexity of partner ecosystems due to the involvement of multiple tiers has necessitated the adoption of specialized solutions to maintain visibility and collaboration across all partner levels. Additionally, the desire to streamline partner programs, drive higher engagement and optimize deal incentives is also expected to fuel the demand for PRM solutions. PRM solutions help businesses to gain real-time insights into partner performance, ensure revenue forecast accuracy and enhance relationship management. They automate various manual processes involved in partner lifecycle management while reducing operational costs. The above mentioned factors are expected to propel the Partner Relationship Management Solution Market growth over the forecast period.
Key Takeaways
The Global Partner Relationship Management Solution Market Size is expected to witness high growth. The market is estimated to grow at a CAGR of 18% during the forecast period of 2023 to 2030. By 2030, the market size is projected to reach US$ 17760.06 Million.
Regional analysis: North America is currently the largest market for Partner Relationship Management Solutions accounting for over 35% share. Presence of major vendors and early technology adoption contributes to the dominant position. Asia Pacific is expected to witness fastest growth due to rapid digital transformation of businesses in the region. Countries like China, India are projected to significantly drive the revenues.
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. The market is consolidated in nature with top five players accounting for over 50% share. Major players are focusing on partnerships and mergers/acquisitions for expansion in various regional markets.
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