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Salesforce Service Market Bwc20063
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Salesforce Service Market Bwc20063

Home ICT Salesforce Service Market Bwc20063

Salesforce Service Market- Global Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2017-2027, Segmented By Service Type (Planning, Execution, System Management), By Deployment Model (On-Premise, Cloud, Hybrid), By Application (Sales, Marketing, Commerce Cloud, Analytics), By End-User (BFSI, Manufacturing, Government, Retail, E-Commerce, Healthcare, IT and Telecom, Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)

  • Published Date: May 2020
  • Report ID: BWC20063
  • Available Format: PDF
  • Page: 197

Report Overview

Because of the rapid shift of organizations away from on-premise solutions and increased adoption of emerging cloud computing services, such as Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS), the global salesforce service market is gaining significant traction.

Global Salesforce Service Market- Industry Trends & Forecast Report 2027

The global salesforce service market was worth USD 10.0 billion in 2020 and is further projected to reach USD 32.6 billion by the year 2027, growing at a CAGR of 18.4% in the forecast period. The rapid shift from on-premises solutions and increasing adoption of emerging cloud computing services, such as Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS), and the viable solutions they provide, are propelling the Salesforce service market forward.

Salesforce Service Market

 

Source: BlueWeave Consulting

Salesforce Service Market- Overview

With the customer-first approach as their primary cornerstone, salesforce services help end-users identify and address gaps in their business models, which, in turn, would help them level up their business performance. With the help of salesforce service implementation, businesses are establishing growth prospects by focusing more on improving customer engagement and interaction. Companies are creating growth opportunities with an increasing focus on improving customer engagement and interaction with the help of salesforce service implementation.

Salesforce Service Market Forecast and Trends

Growth Drivers

Leveraging Artificial Intelligence (AI) Capabilities

The Salesforce platform is integrated with AI capabilities that enable users to develop custom-AI platforms to predict business outcomes such as lifetime value of a customer, and to customize bots to be deployed in accordance with a business's CRM system. Furthermore, these platforms can discern the intent of a body text using advanced machine learning technology and subsequently assist enterprises in making sound business decisions. AI can also aid in the recognition of key patterns in organizational data, reducing deviations from the intended action plan and increasing efficiency. As a result, Salesforce's AI capability plays a vital role in driving industry growth.

Increasing Adoption in the BFSI Sector

Increased adoption of Salesforce services in the BFSI sector is one of the drivers of market growth across the globe. Banks are significantly adopting these cloud services to manage various business processes including customer data, sales, business information, engagements, and interactions, etc. Salesforce services help in boosting lead conversion by offering personalized solutions which further induce sales and revenue along with better productivity. With such benefits, leading players of this industry such as Merrill Lynch, Goldman Sachs, and Deutsche Bank, etc., are adopting Salesforce services, boosting its market growth.

Restraints

Limited IT Infrastructure To Support Cloud Platform

The Salesforce services are completely dependent on the cloud and software. It requires a strong IT infrastructure to support its growth. Unfortunately, except for a few countries such as the United States, China, India, Japan, etc., not many countries have resources to support the IT infrastructure. This acts as a major restraining factor for the growth of the Salesforce service market. This limitation can create a monopoly of Salesforce services in the strong infrastructure countries only, which sabotages the market growth in the long run.

Impact of COVID-19 on the Global Salesforce Service Market

The sudden outbreak of the COVID-19 pandemic emerged as an accelerating factor for the salesforce service market. Due to strict government controls restricting mobility and preventing workers from working from home, companies switched to cloud computing. Consequently, the internet traffic spiked tremendously as the consumer base of almost all the industries started spending most of their time on devices, such as smartphones and laptops. This resulted in the surge in demand for salesforce services to customize customer information and services to tap the potential lead into loyal customers.

Global Salesforce Service Market - By Service Type

Based on service types, the global salesforce service market is segmented into planning, execution, and system management. The system management segment accounts for the largest market share and is projected to witness the highest growth rate during the forecast period as well. The segment’s growth can primarily be attributed to the increasing demand for the monitoring of sales forces. It sends sophisticated notifications to support teams in order to predict and prevent all main difficulties with customer relationship management (CRM) solutions, allowing businesses to run more smoothly.

Salesforce Service Market - By Application

Based on applications, the salesforce service market is segmented into sales, marketing, commerce cloud, and analytics. The sales segment has the largest market share due to their focus on designing their business operations according to customer needs for lead generation. Salesforce's service provides an integrated platform for managing customer care, marketing, personalised service, and targeted support, all of which can increase sales and revenue.

Salesforce Service Market - Regional Insights

Geographically, the salesforce service market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. Among these regions, North America dominates the Salesforce service market because of the presence of a high number of large, medium, and small organizations. Furthermore, companies that adopt advanced technology to maximize revenue and maintain a competitive edge also contribute to market growth. Furthermore, a high concentration of leading industry participants, such as Oracle Corporation, Adobe Inc., Microsoft, etc., who are constantly launching new updates is also influencing the growth of the market.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

The leading players in the salesforce service market are SAP SE, Oracle Corporation, Microsoft Corporation, Salesforce.com Inc., Adobe Inc., DXC Technology, Accenture PLC, IBM Corporation, Pegasystems Inc., Verint Systems Inc., Tata Consultancy Services Limited, AT&T Inc., Cognizant Technology Solutions Corp., Capgemini, iTechArt Group, Peeklogic, LLC, Bluewolf, Avenga, Vertiba, and other prominent players.

The market is highly concentrated among global players such as IBM Corporation, Microsoft, Oracle, etc. The companies constantly launch new updates in response to the changing consumer preferences. They create goods based on the needs of businesses of all sizes in order to gain a larger market share. In addition, competitive techniques such as partnerships, mergers, acquisitions, joint ventures, and so on are common in this industry.

Recent Developments

  • In November 2021, Rocket Mortgage, a US-based mortgage loan company, announced its partnership with Salesforce, a cloud-based software company, to make the company's mortgage orientation technology available to the BFSI sector through the Salesforce Financial Services Cloud (FSC).
  • In October 2021, RevTrax, a US-based software company, announced the launch of the OMP Integration for Salesforce Service Cloud for intelligent customer service.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product Service/Segmentation

By Service Type, By Deployment Model, By Application, By End-User, By Region

Key Players

SAP SE, Oracle Corporation, Microsoft Corporation, Salesforce.com Inc., Adobe Inc., DXC Technology, Accenture PLC, IBM Corporation, Pegasystems Inc., Verint Systems Inc., Tata Consultancy Services Limited, AT&T Inc., Cognizant Technology Solutions Corp., Capgemini, iTechArt Group, Peeklogic, LLC, Bluewolf, Avenga, Vertiba, and other prominent players.

 

By Service Type

  • Planning
  • Execution
  • System Management

By Deployment Model

  • On-Premise
  • Cloud
  • Hybrid

By Application

  • Sales
  • Marketing
  • Commerce Cloud
  • Analytics

By End-User

  • BFSI
  • Manufacturing
  • Government
  • Retail
  • E-Commerce
  • Healthcare
  • IT and Telecom
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Key Market Segments
  2. Research Methodology
    1. Qualitative Research
    2. Methodology
    3. Regional Split of Primary & Secondary Research
    4. Secondary Research
    5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
    6. Market Size Estimation
    7. Assumptions for the Study
    8. Market Breakdown & Data Triangulation
  3. Executive Summary
  4. Industry Insight and Growth Strategy
    1. Value Chain Analysis
    2. DROC Analysis
      1. Market Drivers
        1. Leveraging Artificial Intelligence (AI) Capabilities
        2. Increasing Adoption in the BFSI
      2. Market Restraints
        1. Limited IT Infrastructure To Support Cloud Platform
      3. Market Challenges
        1. Limited Awareness of Salesforce Services among SMEs
      4. Market Opportunity
        1. Growing Adoption Salesforce Services Among Small And Medium-Sized Enterprises
        2. Increasing Demand For Cloud And Hybrid Deployment Mode
    3. Recent Developments
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
  5. Salesforce Service Market Overview
    1. Market Size & Forecast by Value, 2017-2027
    2. Market Size and Forecast, By Segment
      1. By Service Type
        1. Planning
        2. Execution
        3. System Management
      2. By Deployment Model
        1. On-Premise
        2. Cloud
        3. Hybrid
      3. By Application
        1. Sales
        2. Marketing
        3. Commerce Cloud
        4. Analytics
      4. By End-User
        1. BFSI
        2. Manufacturing
        3. Government
        4. Retail
        5. E-Commerce
        6. Healthcare
        7. IT and Telecom
        8. Others
      5. By Region
        1. North America
        2. Europe
        3. Asia-Pacific
        4. Latin America
        5. Middle East & Africa
  6. North America Salesforce Service Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Service Type
      2. By Deployment Model
      3. By Application
      4. By End-User
      5. By Country
        1. U.S.
        2. Canada
  7. Europe Salesforce Service Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Service Type
      2. By Deployment Model
      3. By Application
      4. By End-User
      5. By Country
        1. Germany
        2. U.K.
        3. Russia
        4. France
        5. Italy
        6. Spain
        7. Rest of Europe
  8. APAC Salesforce Service Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Service Type
      2. By Deployment Model
      3. By Application
      4. By End-User
      5. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of APAC
  9. LATAM Salesforce Service Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
      1. By Service Type
      2. By Deployment Model
      3. By Application
      4. By End-User
      5. By Country
        1. Mexico
        2. Brazil
        3. Rest of LATAM
  10. MEA Salesforce Service Market Overview
    1. Market Size and Forecast
      1. By Value (USD Billion), 2020-2027
    2. Market Share and Forecast
    3. By Service Type
    4. By Deployment Model
    5. By Application
    6. By End-User
    7. By Country
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Rest of MEA
  11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2020)
    3. Competitive Benchmarking by Operating Parameters
  12. Impact of COVID-19 on Salesforce Service Market
  13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. SAP SE
    2. Oracle Corporation
    3. Microsoft Corporation
    4. Salesforce.com Inc.
    5. Adobe Inc.
    6. DXC Technology
    7. Accenture PLC
    8. IBM Corporation
    9. Pegasystems Inc.
    10. Verint Systems Inc.
    11. Tata Consultancy Services Limited
    12. AT&T Inc.
    13. Cognizant Technology Solutions Corp.
    14. Capgemini
    15. iTechArt Group
    16. Peeklogic, LLC
    17. Bluewolf
    18. Avenga
    19. Vertiba
    20. Other Prominent Players
  14. Key Strategic Recommendations

 

List of Figures

 

 

Figure 1: Salesforce Service Market Segmentation

 

Figure 2: Salesforce Service Market Value Chain Analysis,

 

Figure 3: Company Market Share Analysis, 2020

 

Figure 4: Salesforce Service Market Size, By Value (USD Billion), 2017-2027

 

Figure 5: Salesforce Service Market Share (%), By Service Type, By Value, 2017-2027

 

Figure 6: Salesforce Service Market Share (%), By Deployment Model, By Value, 2017-2027

 

Figure 7: Salesforce Service Market Share (%), By Application, By Value, 2017-2027

 

Figure 8: Salesforce Service Market Share (%), By End-User, By Value, 2017-2027

 

Figure 9: Salesforce Service Market Share (%), By Region, By Value, 2017-2027

 

Figure 10: North America Salesforce Service Market Size, By Value (USD Billion), 2017-2027

 

Figure 11: North America Salesforce Service Market Share (%), By Service Type, By Value, 2017-2027

 

Figure 12: North America Salesforce Service Market Share (%), By Deployment Model, By Value, 2017-2027

 

Figure 13: North America Salesforce Service Market Share (%), By Application, By Value, 2017-2027

 

Figure 14: North America Salesforce Service Market Share (%), By End-User, By Value, 2017-2027

 

Figure 15: North America Salesforce Service Market Share (%), By Country, By Value, 2017-2027

 

Figure 16: Europe Salesforce Service Market Size, By Value (USD Billion), 2017-2027

 

Figure 17: Europe Salesforce Service Market Share (%), By Service Type, By Value, 2017-2027

 

Figure 18: Europe Salesforce Service Market Share (%), By Deployment Model, By Value, 2017-2027

 

Figure 19: Europe Salesforce Service Market Share (%), By Application, By Value, 2017-2027

 

Figure 20: Europe Salesforce Service Market Share (%), by End-User, By Value, 2017-2027

 

Figure 21: Europe Salesforce Service Market Share (%), By Country, By Value, 2017-2027

 

Figure 22: Asia-Pacific Salesforce Service Market Size, By Value (USD Billion), 2017-2027

 

Figure 23: Asia-Pacific Salesforce Service Market Share (%), By Service Type, By Value, 2017-2027

 

Figure 24: Asia-Pacific Salesforce Service Market Share (%), By Deployment Model, By Value, 2017-2027

 

Figure 25: Asia-Pacific Salesforce Service Market Share (%), By Application, By Value, 2017-2027

 

Figure 26: Asia-Pacific Salesforce Service Market Share (%), By End-User, By Value, 2017-2027

 

Figure 27: Asia-Pacific Salesforce Service Market Share (%), By Country, By Value, 2017-2027

 

Figure 28: Latin America Salesforce Service Market Size, By Value (USD Billion), 2017-2027

 

Figure 29: Latin America Salesforce Service Market Share (%), By Service Type, By Value, 2017-2027

 

Figure 30: Latin America Salesforce Service Market Share (%), By Deployment Model, By Value, 2017-2027

 

Figure 31: Latin America Salesforce Service Market Share (%), By Application, By Value, 2017-2027

 

Figure 32: Latin America Salesforce Service Market Share (%), By End-User, By Value, 2017-2027

 

Figure 33: Latin America Salesforce Service Market Share (%), By Country, By Value, 2017-2027

 

Figure 34: Middle East & Africa Salesforce Service Market Size, By Value (USD Billion), 2017-2027

 

Figure 35: Middle East & Africa Salesforce Service Market Share (%), By Service Type, By Value, 2017-2027

 

Figure 36: Middle East & Africa Salesforce Service Market Share (%), By Deployment Model, By Value, 2017-2027

 

Figure 37: Middle East & Africa Salesforce Service Market Share (%), By Application, By Value, 2017-2027

 

Figure 38: Middle East & Africa Salesforce Service Market Share (%), By End-User, By Value, 2017-2027

 

Figure 39: Middle East & Africa Salesforce Service Market Share (%), By Region, By Value, 2017-2027

 

 

 

List of Tables

 

 

Table 1: Salesforce Service Market Size, By Service Type, By Value, 2017-2027

 

Table 2: Salesforce Service Market Size, By Deployment Model, By Value (USD Billion), 2017-2027

 

Table 3: Salesforce Service Market Size, By Application, By Value (USD Billion), 2017-2027

 

Table 4: Salesforce Service Market Size, By End-User, By Value (USD Billion), 2017-2027

 

Table 5: Salesforce Service Market Size, By Region, By Value (USD Billion), 2017-2027

 

Table 6: North America Salesforce Service Market Size, By Service Type, By Value (USD Billion), 2017-2027

 

Table 7: North America Salesforce Service Market Size, By Deployment Model, By Value (USD Billion), 2017-2027

 

Table 8: North America Salesforce Service Market Size, By Application, By Value (USD Billion), 2017-2027

 

Table 9: North America Salesforce Service Market Size, By End-User, By Value (USD Billion), 2017-2027,

 

Table 10: Europe Salesforce Service Market Size, By Service Type, By Value (USD Billion), 2017-2027

 

Table 11: Europe Salesforce Service Market Size, By Deployment Model, By Value (USD Billion), 2017-2027

 

Table 12: Europe Salesforce Service Market Size, By Application, By Value (USD Billion), 2017-2027

 

Table 13: Europe Salesforce Service Market Size, By End-User, By Value (USD Billion), 2017-2027

 

Table 14: the Asia-Pacific Salesforce Service Market Size, By Service Type, By Value (USD Billion), 2017-2027

 

Table 15: the Asia-Pacific Salesforce Service Market Size, By Deployment Model, By Value (USD Billion), 2017-2027

 

Table 16: the Asia-Pacific Salesforce Service Market Size, By Application, By Value (USD Billion), 2017-2027

 

Table 17: the Asia-Pacific Salesforce Service Market Size, By End-User, By Value (USD Billion), 2017-2027

 

Table 18: Latin America Salesforce Service Market Size, By Service Type, By Value (USD Billion), 2017-2027

 

Table 19: Latin America Salesforce Service Market Size, By Deployment Model, By Value (USD Billion), 2017-2027

 

Table 20: Latin America Salesforce Service Market Size, By Application, By Value (USD Billion), 2017-2027

 

Table 21: Latin America Salesforce Service Market Size, By End-User, By Value (USD Billion), 2017-2027

 

Table 22: The Middle-East & Africa Salesforce Service Market Size, By Service Type, By Value (USD Billion), 2017-2027

 

Table 23: The Middle-East & Africa Salesforce Service Market Size, By Deployment Model, By Value (USD Billion), 2017-2027

 

Table 24: The Middle-East & Africa Salesforce Service Market Size, By Application, By Value (USD Billion), 2017-2027

 

Table 25: The Middle-East & Africa Salesforce Service Market Size, By End-User, By Value (USD Billion), 2017-2027

 

Table 26: SAP SE Financial Analysis

Table 27: SAP SE Business Overview

Table 28: Oracle Corporation Financial Analysis

Table 29: Oracle Corporation Business Overview

Table 30: Microsoft Corporation Financial Analysis

Table 31: Microsoft Corporation Business Overview

Table 32: Salesforce.com Inc. Financial Analysis

Table 33: Salesforce.com Inc. Business Overview

Table 34: Adobe Inc. Financial Analysis

Table 35: Adobe Inc. Business Overview

Table 36: DXC Technology Financial Analysis

Table 37: DXC Technology Business Overview

Table 38: Accenture PLC Financial Analysis

Table 39: Accenture PLC Business Overview

Table 40: IBM Corporation Financial Analysis

Table 41: IBM Corporation Business Overview

Table 42: Pegasystems Inc. Financial Analysis

Table 43: Pegasystems Inc. Business Overview

Table 44: Verint Systems Inc. Financial Analysis

Table 45: Verint Systems Inc. Business Overview

Table 46: Tata Consultancy Services Limited Financial Analysis

Table 47: Tata Consultancy Services Limited Financial Analysis

Table 48: AT&T Inc. Financial Analysis

Table 49: AT&T Inc. Business Overview

Table 50: Cognizant Technology Solutions Corp. Financial Analysis

Table 51: Cognizant Technology Solutions Corp. Business Overview

Table 52: Capgemini Financial Analysis

Table 53: Capgemini Business Overview

Table 54: iTechArt Group Financial Analysis

Table 55: iTechArt Group Business Overview

Table 56: Peeklogic, LLC Financial Analysis

Table 57: Peeklogic, LLC Business Overview

Table 58: Bluewolf Financial Analysis

Table 59: Bluewolf Business Overview

Table 60: Avenga Financial Analysis

Table 61: Avenga Business Overview

Table 62: Vertiba Financial Analysis

Table 63: Vertiba Business Overview

Market Segmentation

By Service Type

  • Planning
  • Execution
  • System Management

By Deployment Model

  • On-Premise
  • Cloud
  • Hybrid

By Application

  • Sales
  • Marketing
  • Commerce Cloud
  • Analytics

By End-User

  • BFSI
  • Manufacturing
  • Government
  • Retail
  • E-Commerce
  • Healthcare
  • IT and Telecom
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
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Frequently Asked Questions (FAQs):

Ans: The salesforce service market reached USD 10.0 billion in 2020.
Ans: The use of artificial intelligence (AI) capabilities and growing adoption in the BFSI sector are two main drivers propelling the salesforce service industry forward.
Ans: The key players in the salesforce service market are: SAP SE, Oracle Corporation, Microsoft Corporation, Salesforce.com Inc., Adobe Inc., DXC Technology, Accenture PLC, IBM Corporation, Pegasystems Inc., Verint Systems Inc., Tata Consultancy Services Limited, AT&T Inc., Cognizant Technology Solutions Corp., Capgemini, iTechArt Group, Peeklogic, LLC, Bluewolf, Avenga, Vertiba, and other prominent players.
Ans: The BFSI segment accounted for the largest share in the salesforce service market.
Ans: North America dominates the salesforce service market with the largest market share.