Partner Relationship Management Solutions Market Propelled by Increasing Need for Channelized Distribution
The solutions offer various capabilities such as partner portal management, lead management, deal registration, marketing campaign management and analytics dashboards. They help companies in leveraging their partner ecosystem effectively by improving collaboration, increasing productivity and boosting sales. The solutions automate manual processes and provide real-time visibility across the partner lifecycle.
The Global Partner Relationship Management Solution Market is estimated to be valued at US$ 20459.59 Mn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Partner Relationship Management Solution Market Size are Amcor plc,Berry Global Inc.,DS Smith Plc,Mondi Group,Sonoco Products Company,Sealed Air Corporation,Stora Enso Oyj,Winpak Ltd.,Constantia Flexibles Group GmbH,Huhtamaki Oyj.
The growing demand from e-commerce and digital commerce industries is driving the adoption of partner relationship management solutions. These industries rely heavily on affiliations and partnerships for customer acquisition and transactions. Partner relationship management solutions help them strengthen relationships with affiliates, manage commissions, and monitor partner performance.
Partner relationship management solution providers are focusing on global expansion by partnering with local players and establishing offices in different geographies. This is enabling them to cater to the requirements of a diverse partner network operating internationally. The solutions are also being localized in terms oflanguage, currency, and regulatory compliance features to better serve global markets.
Market Drivers
The increasing need for channelized distribution is a key factor propelling the partner relationship management solutions market. Companies across industries want to leverage their extensive partner networks for sales and growth. Partner relationship management solutions help them empower partners, streamline collaborative workflows, and gain end-to-end visibility of the partner ecosystem. This is helping companiesscale distribution, accelerate time-to-market and boost revenues through optimized partner engagement.
Impact of geopolitical situation on Partner Relationship Management Solution Market Growth
The current geopolitical instability across various regions is negatively impacting the growth of the partner relationship management solution market. The ongoing Russia-Ukraine war and sanctions on Russia have disrupted supply chains and increased economic uncertainties in Europe. Many companies are postponing investments in new technologies due to the volatility. Furthermore, the rising tensions between the US and China are influencing trade relationships and technology investments between companies of these countries. The geopolitical risks associated with overdependence on certain regions for sourcing of components and services is prompting companies to evaluate diversifying their supply networks to multiple regions. Looking ahead, partner relationship management solution providers need to expand their offerings to support globally distributed and diverse supplier networks of their clients. They also need to focus on improving the reliability and security of their cloud-based platforms to build confidence among risk-averse companies during uncertain times.
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