The lead management software market size has grown strongly in recent years. It will grow from $9.26 billion in 2023 to $10.12 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to rise in demand for crowdsourcing, increased use of customer relationship management (CRM) systems, increased use of lead management software in small and medium-sized enterprises, increased importance of data analytics, and increased use of mobile devices.
The lead management software market size is expected to see strong growth in the next few years. It will grow to $14.54 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to growing digitalization, growing significance of making decisions based on data, emergence of omnichannel marketing techniques, rise in demand for social interaction, high acceptance of lead generation processes in insurance and banking. Major trends in the forecast period include demand for enhanced customer engagement, adoption of digital transformation initiatives, transition to cloud-based solutions, integration with ai and automation, and use of lead capture software.
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Scope Of Lead Management Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Lead Management Software Market Overview
Market Drivers –
The growing digitalization is expected to propel the growth of the lead management software market going forward. Digitalization refers to integrating digital technologies into various aspects of business operations, organizational processes, and societal activities to optimize efficiency, enhance productivity, and create new value. The growing digitalization is due to changing consumer expectations, business expectations, and the proliferation of high-speed internet. Lead management software plays a critical role in digitalization by digitizing and automating various aspects of the lead management process, enabling organizations to effectively leverage digital channels, data, and automation to generate and convert leads more efficiently. For instance, in October 2022, according to the Department for Digital, Culture, Media and Sport of the United Kingdom, a UK-based government agency, the digital economy of the UK tech sector’s annual gross value added (GVA) is expected to boost by an additional £41.5 billion ($51.3 billion) by 2025. Therefore, the growing digitalization drives the lead management software market.
Market Trends –
Major companies operating in the lead management software market are developing advanced solutions, such as AI-based lead generation systems, to enhance lead scoring accuracy, automate personalized follow-ups, and improve overall conversion rates. An AI-based lead generation system leverages artificial intelligence (AI) technologies to identify, attract, and qualify potential customers for a business. These systems use machine learning algorithms, data analytics, and natural language processing to enhance the lead generation process, making it more efficient and effective. For instance, in September 2021, Oracle Corporation, a US-based software company, launched the Oracle Fusion Marketing System, a new system that utilizes artificial intelligence (AI) to automate critical aspects of digital marketing campaigns. This system uses AI to automate generating and qualifying leads from campaigns that span traditional marketing and advertising channels. It can automatically score leads at the account level, predict when prospects are ready to engage with sales and generate qualified sales opportunities directly through a CRM system.
The lead management software market covered in this report is segmented –
1) By Product: Cloud-Based, On Premise
2) By Application: Small And Medium-Sized Enterprises (SMEs), Large Enterprise
3) By Industry Vertical: Banking, Financial Services And Insurance , Food And Beverages, Government, Health, Wellness And Fitness, Logistics And Supply Chain, Retail And Manufacture, Other Industry Verticals
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Regional Insights –
North America was the largest region in the lead management software market in 2023. The regions covered in the lead management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the lead management software market are Oracle Corporation, SAP SE, Salesforce Inc., Adobe Inc., HubSpot Inc., Zoho Corporation Pvt. Ltd., DiscoverOrg, ActiveCampaign LLC, Pipedrive Inc., Intercom Inc., Driftcom Inc., RocketReach, Keap, Lusha Systems Inc., Smith ai, Unbounce, Clearbit Inc., LeadGenius, SalesLoft, Hunter io, SharpSpring, Nutshell Inc., Leadformly, Navis, Datanyze Inc.
Table of Contents
1. Executive Summary
2. Lead Management Software Market Report Structure
3. Lead Management Software Market Trends And Strategies
4. Lead Management Software Market – Macro Economic Scenario
5. Lead Management Software Market Size And Growth
…..
27. Lead Management Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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