This deep dive includes real-world case studies as well as the latest statistics to help you understand the present and future of sales intelligence.
The global sales intelligence market has demonstrated robust growth in recent years, with promising estimates for its growth trajectory. The market was valued at USD 3 billion in 2023, with forecasts of a compound annual growth rate (CAGR) of 10.7% from 2024 to 2033. That means the market could top USD 8.25 billion by 2033.
North America still holds the largest share of the sales intelligence market with 46%. Of that, the US accounts for roughly 32% of the total global market size at USD 960 Million.
Europe is the next biggest market with a 29% share. Although it currently only holds 18% of the market, Asia Pacific is expected to see the fastest growth at a projected CAGR of 15.2% within the forecast period. Latin America and the Middle East & Africa account for only 5% and 2%, respectively.
Unlike many other industries, the COVID-19 pandemic has had a largely positive effect on the sales intelligence industry. It accelerated the need to adopt sales intelligence technologies across industries, particularly by SMEs, to make informed decisions, prioritize customer service, and access real-time outcomes.
It also happened to coincide with the rise of AI (artificial intelligence), ML (machine learning), and natural language processing (NLP) technologies in this field.
The sales intelligence market is continuing to evolve, especially with the emergence of various smart technologies. Here are the key drivers and trends that are shaping, and will continue to shape, its future:
The competitive landscape of the global sales intelligence market is highly dynamic, featuring a mix of established players and emerging innovators.
Key players include in 2023 include:
In recent developments, Vidyard Rooms introduced its innovative Digital Sales Rooms (DSR) In June 2023. This platform promises to transform digital engagement strategies, enabling novel dynamic interactions between sellers and buyers.
In May, Gong.io Inc., in partnership with the renowned data cloud enterprise Snowflake, unveiled Gong Insights. It’s a groundbreaking sales intelligence tool that seamlessly integrates insights from Gong's revenue intelligence platform into a company's existing business intelligence (BI) systems.
6sense introduced its revenue AI for sales in March 2023. It aims to streamline the sales process by efficiently identifying potential leads and prioritizing high-value tasks. This allows teams to take a more informed and optimized approach to sales.
The current landscape presents a host of challenges that are driving interest in sales intelligence software. Among these are:
However, new sales intelligence capabilities are rapidly evolving to help businesses and professionals deal with these challenges:
Companies are recognizing the value of leveraging advanced analytics, AI, and automation to enhance sales productivity and effectiveness. Currently, about 25% of companies have fully integrated AI into their operations, while 33% are in the early stages of implementation.
Driven by technological advancements, the future of the sales intelligence market is poised for transformative change. These technologies are expected to redefine how sales intelligence is gathered, analyzed, and utilized:
Two ethical concerns regarding the widespread adoption of sales intelligence is that of data privacy and social biases in AI algorithms. As companies leverage sales intelligence to understand and predict customer behavior, concerns arise about the extent to which personal data is collected, stored, and used.
Regulations like the General Data Protection Regulation (GDPR) in Europe and the California Consumer Privacy Act (CCPA) in the U.S. have been implemented to address these concerns. Not to mention The Health Insurance Portability and Accountability Act (HIPAA), pertaining to personally identifiable information (PII) and sensitive medical records.
Furthermore, compliance with CCPA DSAR regulations ensures that individuals in California can exercise their rights regarding the access and management of their personal data."
These regulations mandate stricter consent practices and give individuals more control over their personal information.
Biases in AI-based sales intelligence tools can also lead to unfair or discriminatory outcomes. To mitigate these risks, businesses must ensure that their AI systems are trained on diverse and unbiased data sets.
Despite challenges and concerns, there are numerous examples of the successful deployment of sales intelligence solutions.
Global Tech LED is leveraging Google Analytics for targeted remarketing, significantly increasing clicks and website traffic. Another case is Under Armour, utilizing IBM Watson for a health app, leading to a 51% revenue growth in Connected Fitness accessories.
Plexure used Azure Stream Analytics for McDonald’s, resulting in a 700% increase in customer offer redemptions in the Netherlands.
The sales intelligence market is on a remarkable growth trajectory, fueled by advancements in AI, big data, and IoT technologies. This evolution presents both opportunities and challenges, including ethical considerations and the need for regulatory compliance.
Real-world case studies underscore the significant benefits of adopting sales intelligence solutions, from enhanced customer engagement to increased revenue. As the industry continues to innovate, the future of sales intelligence looks promising, offering new ways to harness data for a competitive advantage.