13 June 2019, Global lead management software market is expected to grow at a significant CAGR of 17.39% in the
upcoming period as the scope and its applications are rising enormously across
the globe. Lead management is a process of qualifying, capturing leads, and
generate new potential business clientele by operating via marketing programs
or campaigns. Lead management software is termed as a specific feature of
“Customer Relationship Management (CRM)” functionality that companies should
consider in order to advance their sales and marketing toolkits to grow
businesses in the digital age.
The factors that are playing a major
role in the growth of lead management software market are the rising demand for
social interaction, developing-cloud-based solutions, acceptance of the
software in insurance and banking industry, and increasing advantages of
crowdsourcing. However, the high cost of implementation of the lead management
software may restrain overall market growth in the years to come. Lead
management software market is segmented based on product type, application,
end-user, and region.
Cloud-based and on premise are the
product types that could be explored in the lead management software in the
forecast period. Based on technology, lead filtering and assessment and lead
acquisition could classify lead management software in the forecast period.
Lead acquisition sector comprises quick apply web forms, batch imports, and
electronic data transfer. Lead filtering and assessment sector comprise
prioritization, data verification, lead scoring/grading, device intelligence,
data appending, and fraud screening.
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The market may be categorized based on applications like
non-profit, established businesses, startup businesses, and others that could
be explored in the forecast period. The established business sector accounted
for the substantial market share of lead management software and is estimated
to lead the overall market in the years to come. The reason behind the overall
market growth could be fear of losing potential consumers to smaller players.
Retail & Manufacturers, Food & Beverages,
Renewables & Environment, Government Relations, Pharmaceuticals, Health,
Wellness, and Fitness, Marketing and Advertising, Hospitality, Logistics and
Supply Chain, Insurance, and other end-users could be explored in lead
management software in the forecast period.
Globally, North America accounted for the substantial
market share of lead management software and is estimated to lead the overall
market in the years to come. The reason behind the overall market growth could
be the growing demand for cloud-based solutions, social interaction, the
presence of key manufacturers in this region, and developed infrastructure.
Canada and the United States are the major consumers of lead management
software in this region.
Europe and the Asia Pacific are also estimated to have a
positive influence on future growth. Europe is the second largest region with
significant market share. However, Asia Pacific is estimated to grow at the
highest CAGR in the forecast period. The developing countries like India and
China are the major consumers of lead management software in the region. The
key players of lead management software market are Salesforce, Adobe, Oracle,
IBM, and Microsoft. These players are concentrating on inorganic growth to
sustain themselves amidst fierce competition.
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