- Inside sales software is an advanced sales platform to manage different sales activities such as sales leads, managing customer data and files, business reports, statistics & sales performance, and other inside sales activities.
- Inside sales software helps management staff and internal sales departments to quickly manage and organize the important information related to customers, business, and sales in different regions.
- The inside sales software caters to a large database of customers across a wide range of industries including manufacturing, wholesale distribution, retail, media, and publishing.
- Companies can manage the customers or sales lead pipeline to target potential customers and increase lead count for business growth.
- Lead generation and marketing companies are majorly adopting inside sales software to maintain the potential customers in the sales pipeline. This platform can be used by sales professionals on any smart device which increases the efficiency of the employees.
- Banking and insurance industry sees higher adoption rate of the inside sales software to manage their sales activity. The adoption is expected to increase during the forecast period.
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Key Drivers of the Inside Sales Software Market
- Increasing adoption of advanced software tools by sales professionals to manage the sales pipeline more efficiently in different industries is expected to drive the growth of the market. Increasing awareness of inside sales software among lead generation and marketing companies to increase the sales leads and manage the customer data base on a single platform for employees is also expected to boost the growth of the market.
- Increasing adoption of inside sales software in different industries is expected to generate revenue opportunities for software providers during the forecast period.
Increasing security threat by cyber-attacks and availability of open source software expected to hinder the market
- Increasing advancement in inside sales software also creates multiple ways for cyber-attacks on a company’s confidential information related to sales deals, customer information, and financial records, which may restrain the growth of the market.
- Availability of open source software of inside sales on the internet offered by several companies to increase their market penetration is also expected to hamper growth of the market.
Impact of COVID-19 on the Global Inside Sales Software Market
- Companies are expanding their geographical presence to capture more market share in Asia Pacific due to increasing impact of COVID-19 on business growth. Companies are adopting new business strategies in sales and business leads which creates opportunities for solution providers of inside sales software in different industries.
- Many companies now operate their businesses on online platforms due to the lockdown conditions; companies are adopting inside sales software to secure the online platform for their customer database. Demand for inside sales software solutions is increasing during COVID-19 and is also set to increase during the forecast period.
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North America to Hold Major Share of the Global Inside Sales Software Market
- North America holds prominent share of the inside sales software market due to increasing adoption of inside sales platforms by the banking and insurance service sector to increase the customer base.
- The inside sales software market in Asia Pacific and Europe is expected to expand the fastest during the forecast period due to increasing adoption of technologically advanced software platforms to manage sales data and enhance the efficiency of sale professionals in the regions.
Key Players Operating in the Global Inside Sales Software Market
Pipedrive is one of the leading global companies among web-based CRM solution providers for sales professionals. The company offers a CRM platform for employees in manufacturing, automobile, food & beverage, and other major industries. The web based CRM platform offers different services such as managing leads and deals, track communication, privacy, security, and insights & reports. The company operates its business in North America and Europe with a combined experience of more than 40 years. .
- Salesforce.com, Inc.
Salesforce.com, Inc. is a global provider of customer relationship management services to different industries. The company provides technological platforms to businesses to build and run business applications. Salesforce.com, Inc. offers a solution that helps users to manage their customer records, sales, and other enterprise operational data. The company offers solutions in marketing, analytics, sales, commerce, and services sectors.