What Is The Scope Of The Global Salesforce Services Market?
Salesforce services refer to a suite of cloud-based tools and applications tailored for customer relationship management (CRM), featuring marketing automation and application development functionalities. These services aim to enhance business processes and customer interactions, empowering organizations to efficiently manage sales, marketing, and customer service operations in a centralized and scalable framework.
Salesforce Services Global Market Report 2024 provides data on the global salesforce services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The salesforce services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Salesforce Services ?
The salesforce services market has grown rapidly, increasing from $11.01 billion in 2023 to $12.67 billion in 2024 at a CAGR of 15.1%. This growth has been driven by rising demand for CRM solutions, cloud adoption, digital transformation initiatives, globalization of businesses, and mobile technology advancements. The market is projected to reach $22.34 billion by 2028 at a CAGR of 15.2%, fueled by ongoing digital transformation, expanding AI and automation adoption, a focus on customer experience, demand for industry-specific solutions, and subscription-based pricing models. Major trends include AI-driven analytics, IoT integration, augmented reality for customer engagement, low-code/no-code platforms, and a focus on sustainability.
What Are The Leading Drivers Of Growth In The Salesforce Services Market?
The growing importance of digital transformation is expected to stimulate the growth of the salesforce services market. Digital transformation involves integrating digital technologies into all aspects of an organization, fundamentally changing its operations and customer value delivery. This transformation enhances operational efficiency, customer engagement, and competitiveness. It also improves salesforce services by streamlining processes, enhancing customer interactions, and enabling data-driven decisions. For example, between April 2022 and April 2023, the UK government’s digital and data profession grew by 19%, according to the Central Digital and Data Office. Hence, the increasing importance of digital transformation is driving the salesforce services market.
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How Are The Segments Defined Within The Global Salesforce Services Market?
The salesforce services market covered in this report is segmented –
1) By Type Of Service: Planning, Management, Implementation
2) By Deployment Model: On-Premise, Cloud, Hybrid
3) By Application: Sales Cloud, Service Cloud, Marketing Cloud, Application Cloud, Commerce Cloud, Analytics
4) By Vertical: Banking, Financial Services And Insurance (BFSI), Healthcare And Life Sciences, Media And Telecom, Retail And CPG, Government, Manufacturing, Energy And Utilities, Other Verticals
How Are New Trends Expected To Influence The Growth Of The Salesforce Services Market?
Companies in the salesforce services market are focusing on advanced solutions, such as generative artificial intelligence (AI) technology, to optimize customer support and improve user experiences. Generative AI helps sales teams personalize customer interactions, forecast trends, and enhance sales performance. In March 2024, Salesforce Inc. launched Einstein 1 Field Service Edition, which integrates real-time insights and advanced AI features to enhance technician productivity and efficiency. This solution transforms field service operations by enabling easy appointment scheduling and remote assistance, reducing the need for on-site visits.
Which Region Drives The Highest Growth In The Salesforce Services Market?
North America was the largest region in the salesforce services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the salesforce services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
