The global partner relationship management market revenue was around US$ 2.9 billion in 2022 and is estimated to reach US$ 4.8 billion by 2031, growing at a compound annual growth rate (CAGR) of 6% during the forecast period from 2023 to 2031.
A partner relationship management (PRM) solution is application software utilized to enhance the business process to reach customers via indirect sales channels, including resellers, brokers, agents, distributors, and other service partners. It is used to outline strategies and methodology for managing relationships among suppliers and their channel partners.
Market Driving Factors
The increasing need for automated sales processes is predicted to propel market growth. PRM software brings a novel revolution in sales channel management to automate sales operations. Traditional sales process requires a huge workforce since it is a disparate system. The manual process cannot be accessed by all partners and it is relatively challenging to reach all customers for the delivery of novel promotional activities. Therefore, companies are shifting towards partner relationship management solutions to automate the marketing and sales process. For instance, Kaspersky Lab, a Russian international IT security company, has implemented Relayware’s partner relationship management solution for sales, Customer relationship management (CRM) integration, and marketing automation.
An increasing need to improve the communication and functional relationship between companies and external partner channels. In addition, continuous investment by multiple organizations to lower channel management prices and increase partner communication are some of the major factors that drive the demand for partner relationship management market.
Issues of data privacy and security may hamper the market growth.
Regional Analysis
North America dominated the market and is estimated to continue its dominance over the forecast period. This region is a hub for different technological innovations and internet users. Moreover, several prominent players such as Impartner Inc, Salesforce.com Oracle Corporation, and Internet users in the region are further fueling the market growth in the region.
Segmentation Insights
Deployment Mode Insight
On-premises segment dominated the market in terms of revenue and is estimated to continue its dominance over the forecast period. In the segment, the software and delivery models are installed and work from customers’ in-house computing servers and infrastructure. The price associated with installing on-premises solutions is included in the Capital Expenditure (CAPEX) of businesses. This process is mostly accepted for applications that include the processing of sensitive and confidential data. Currently, numerous companies generate huge amounts of data due to machine learning, IT devices, sensors, clickstreams, and several other devices.
The cloud segment is predicted to dominate the market in terms of the CAGR. This is due to the surge in adoption of cloud service by different SMEs and large companies owing to advantages such as on-demand availability of compute service and zero initial infrastructure setup prices. Furthermore, cloud services provide advantages such as raised security and compliance, effective integration within DevOps groups, and enhanced workload management.
Organization Size Insight
The large enterprises segment dominated the market in terms of the share. These enterprises have various corporate networks and revenue streams, which aid in the utilization of new technologies and solutions in their existing systems. Furthermore, these organizations like to implement their solutions and services on-premise. On-premise data implementation assists them in preserving data privacy and confidentiality. All these elements are predicted to support the segment's growth.
Vertical Insight
The BFSI segment is predicted to dominate the market in terms of the shares. The surge in the number of financial service institutions and banks worldwide and the technological innovations in the BFSI industry are estimated to drive the segment growth. Different organizations in the IT industry such as Infosys, Oracle Inc., and Microsoft are concentrating on partnering with several financial institutions and banks and offering Partner Relationship Management solutions. For instance, in June 2021, Federal Bank entered into a strategic partnership with Infosys, and Oracle Inc to provide customer experience through the Oracle CX platform.
Prominent Companies
Segmentation Outline
The global partner relationship management market segmentation focuses on Component, Deployment Mode, Organization Size, Vertical, and Region.
By Component
By Deployment Mode
By Organization Size
By Vertical
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL PARTNER RELATIONSHIP MANAGEMENT MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: PARTNER RELATIONSHIP MANAGEMENT MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL PARTNER RELATIONSHIP MANAGEMENT MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL PARTNER RELATIONSHIP MANAGEMENT MARKET, BY COMPONENT
5.1 OVERVIEW
5.2 SOLUTION
5.2.1 ENGAGE
5.2.2 COLLABORATE
5.2.3 MANAGE
5.3 SERVICES
5.3.1 MANAGED
5.3.2 TRAINING
5.3.3 CONSULTATION
5.3.4 IMPLEMENTATION
6 GLOBAL PARTNER RELATIONSHIP MANAGEMENT MARKET, BY DEPLOYMENT MODE
6.1 OVERVIEW
6.2 ON-PREMISES
6.3 CLOUD
7 GLOBAL PARTNER RELATIONSHIP MANAGEMENT MARKET, BY ORGANIZATION SIZE
7.1 OVERVIEW
7.2 LARGE ENTERPRISES
7.3 SMALL & MEDIUM-SIZED ENTERPRISES
8 GLOBAL PARTNER RELATIONSHIP MANAGEMENT MARKET, BY VERTICAL
8.1 OVERVIEW
8.2 BFSI
8.3 RETAIL & FRANCHISING
8.4 HEALTHCARE & LIFE SCIENCES
8.5 MANUFACTURING
8.6 IT & TELECOMMUNICATIONS
8.7 OTHERS
9 GLOBAL PARTNER RELATIONSHIP MANAGEMENT MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL PARTNER RELATIONSHIP MANAGEMENT MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 SHAREWORK
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 ALLBOUND INC
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 MAGNETRIX CORPORATION
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 ORACLE CORPORATION
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 ZIFT SOLUTIONS
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 CHANNELXPERTS
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 LOGICBAY
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8. PARTNERSTACK
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 CREATIO
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 MIND MATRIX
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.11 AFFISE INC
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.12 WEBINFINITY
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.13 AGENTICS
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
11.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.14 ZINFI TECHNOLOGIES
11.14.1 OVERVIEW
11.14.2 FINANCIAL PERFORMANCE
11.14.3 PRODUCT OUTLOOK
11.14.4 KEY DEVELOPMENTS
11.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.15 KIFLO
11.15.1 OVERVIEW
11.15.2 FINANCIAL PERFORMANCE
11.15.3 PRODUCT OUTLOOK
11.15.4 KEY DEVELOPMENTS
11.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.16 CHANNELTIVITY
11.16.1 OVERVIEW
11.16.2 FINANCIAL PERFORMANCE
11.16.3 PRODUCT OUTLOOK
11.16.4 KEY DEVELOPMENTS
11.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.17 IMPARTNER
11.17.1 OVERVIEW
11.17.2 FINANCIAL PERFORMANCE
11.17.3 PRODUCT OUTLOOK
11.17.4 KEY DEVELOPMENTS
11.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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