The global PRM market size would grow from USD 920 million in 2020 to USD 1,997 million by 2026, at a Compound Annual Growth Rate (CAGR) of 13.8% during the forecast period. The key factors that are expected to drive the growth of the market are need to control the functional relationship between organizations and external partner channels and focus on the enhancement of partner communication and reduction in channel management costs.
The services segment is expected to grow at a higher CAGR during the forecast period The services segment of the PRM market includes managed services and training, consulting, and integration services.Services are an important part of any solution’s deployment life cycle.
Therefore, various vendors offer services associated with PRM solutions to help companies effectively implement their PRM strategies.With these services, PRM solution providers advice end users and help them integrate and deploy PRM software configured to their requirements.
These services help identify the type of integration required by organizations to meet their PRM demands.
IT and telecommunications industry vertical to hold the highest market share in 2020 The IT and Telecommunicationindustry vertical includes a complex partner network to handle a huge customer base.Digital transformation is necessary to survive in a globally connected and competitive environment.
IT and Telecommunicationcompanies are investing in new technologies, such as smart computing products, IoT, cloud computing, mobility, and analytics, for gaining efficiency and innovation, and attracting consumers. The introduction of 5G technology in the near future is expected to further pressurize players in handling their partner networks.
APAC to grow at the highest CAGR during the forecast period APAC has witnessed the advanced and dynamic adoption of new technologies and is projected to record the highest CAGR during the forecast period.In addition, the IT spending across organizations in the region is gradually increasing, which is projected to lead to a surge in the adoption of PRM solutions.
China, India, Japan, and ANZ are the leading countries in terms of the adoption of PRM solutions & services in the region. PRM solutions automate building, tracking, and analyzing marketing campaigns and provide assignment and management of quotas that enables the markets to focus on strategy building tasks, due to which many organizations in APAC are implementing PRM platforms. • By Company: Tier 1–18%, Tier 2–44%, and Tier 3–38% • By Designation: C-Level Executives–32%, Director Level–36%, and Others–32% • By Region: North America–38%, Europe–26%, APAC–18%, MEA – 10%, and Latin America – 8%
The PRM market comprises major solution providers, such as Allbound (US), Channeltivity (US), Oracle (US), Salesforce (US), Impartner (US), LogicBay (US), Magentrix (Canada), ZINFI Technologies (US), Zift Solutions (US), Mindmatrix (US), PartnerStack (Canada), ChannelXperts (Germany), Creatio (US), AppDirect (US), Webinfinity (US), PartnerPortal.io (Canada), Kiflo (France), Crossbeam (US), Everflow (US), Affise (Lithuania), WorkSpan (US), LeadMethod (US), Sharework (France), Agentcis(Australia), and CoSell (US). The study includes an in-depth competitive analysis of key players in the PRM market with their company profiles, recent developments, COVID-19 developments, and key market strategies.
Research Coverage The PRM market revenue is primarily classified into revenues from solutions and services.Solutions revenue is associated with variety of solutions such as engage, collaborate, and manage and services revenue is associated with services including managed services and training, consulting, and implementation services.
The market is also segmented based on component, deployment type, organization size, vertical, and region.
Key benefits of the report The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall PRM market and the subsegments.This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.
The report would help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, opportunities, and COVID-19 impact.
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