AI Sales Assistant Software Market Segmented By On-Premises, Cloud-Based AI Sales Assistance Software Type in Large Enterprises, SMEs
Industry: IT and Telecommunication
Published Date: April-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 277
Report ID: PMRREP33035
The AI Sales Assistant Software Market is anticipated to have a prodigious CAGR of 11.4% during the period of 2022-2032. The AI Sales Assistant Software Market is anticipated to reach US$ 92.8 Bn in 2032, from US$ 31.5 Bn in 2022.
“The major factor that is expected to accelerate the growth of the AI Sales Assistant Software market during the forecast period includes the increasing demand among enterprises to enhance sales conversion.”
The AI Sales Assistant Software market is driven by the investment by both small and medium and enterprises and large enterprises to increase their sales revenue with the adoption of technologies such as artificial intelligence.
| Attributes | Details |
|---|---|
|
AI Sales Assistant Software Market CAGR (2022-2032) |
11.4% |
|
AI Sales Assistant Software Market Size (2022) |
US$ 31.5 Bn |
|
AI Sales Assistant Software Market Size (2032) |
US$ 92.8 Bn |
The major factor that is expected to accelerate the growth of the AI Sales Assistant Software market during the forecast period includes investment by both small and medium and enterprises and large enterprises to increase their sales revenue with the adoption of technologies such as artificial intelligence.
Moreover, the increasing demand among enterprises to enhance sales conversion is another factor that is anticipated to propel the market growth. The AI Sales Assistant Software assists in automatically converting sales leads to potential sales for the organization with the help of human intelligence. This is one of the significant factors that is expected to augment the market growth over the forecast period.
The AI Sales Assistant Software offers benefits such as lead qualification and follow-up, pipeline management, forecasting, meeting scheduling, and data entry. This is another factor that is expected to fuel the market growth during the forecast period.
Factors such as Increased participation ratios, with deeper win insights and attribution around drivers, greater sales targeting efficiency, with smarter segmentation coupled with lead prioritization, faster sales on-boarding, with most win insights and coaching available in real-time as well as increased sales productivity, with a multitude of bots available for common tasks are anticipated to favor the market growth.
One of the key trends for the growth of the AI Sales Assistant Software Market during the forecast period includes the functions of AI Sales Assistant software such as finding relevant information about the customer or suggesting what customers to call next. Activities, like pursuing leads and identifying viable candidates are still a human-driven activity. This factor is expected to create lucrative opportunity for the market growth.
New next-generation tools are adding value to sales activities where large data sets already exist, and the number of solutions is only increasing. AI sales assistants are most commonly leveraged by sales and marketing teams to automate routine tasks and free up time to handle more complex and involved responsibilities. These products will often work alongside other programs or integrate with an existing CRM software, but many are also standalone products.
AI sales assistants can have broad overlap with conversational marketing software, sales analytics software, and sales intelligence software. These factors are expected to create huge opportunities for the growth of the AI Sales Assistant Software market during the forecast period.
The AI Sales Assistant Software provides numerous features such as deeper win insights and attribution around drivers, as well as greater sales targeting efficiency, but has few restraints as well.
The factors that are expected to dampen the growth of the AI Sales Assistant Software Market during the forecast period include high cost associated with the software and tools. For instance, a small business may have a tough time finding funds to incorporate AI into the work process.
Moreover, the other factor that hinders the growth of the market includes problems with accuracy of the AI Sales Assistant Software, as the programs can make errors, and this can largely depend on their programming. In addition, the programs may have loopholes, which could compromise the safety of data entrusted to the AI. This is another factor hampering the growth of the AI Sales Assistant Software during the forecast period.
| Attributes | AI Sales Assistant Software Market |
|---|---|
|
CAGR (2022-2032) |
11.4% |
|
Market Value (2032) |
US$ 92.8 Bn |
|
Growth Factor |
The major factor that is expected to accelerate the growth of the AI Sales Assistant Software market during the forecast period includes the increasing demand among enterprises to enhance sales conversion. |
|
Opportunity |
New tools are adding value to sales activities where large data sets already exist, and the number of solutions is only increasing. This factor is expected to create lucrative opportunities for the market growth. |
|
Key Trends |
One of the key trends for the market includes the functions of AI Sales Assistant Software such as finding relevant information about the customer or suggesting what customers to call next. |
| Attributes | Intelligent Virtual Assistant Market |
|---|---|
|
CAGR (2022-2032) |
37.7% |
|
Market Value (2032) |
US$ 47.2 Bn |
|
Growth Factor |
The cost-effectiveness of Intelligent Virtual Assistants is the key factor that drives its rapid adoption in enterprises which in turn support the global intelligent virtual assistant market growth. |
|
Opportunity |
Virtual assistants are widely being adopted across industry verticals due to machine learning, deep neural networks, and other advancements in artificial intelligence technologies. |
|
Key Trends |
Growth in smart phone penetration is one of the key growth drivers of the global intelligent virtual assistant market. |
| Attributes | Sales Analytics Market |
|---|---|
|
CAGR (2022-2032) |
11.2% |
|
Market Value (2032) |
US$ 178.0 Bn |
|
Growth Factor |
The increasing demand for social media analytics, which is a subset of sales analytics, has increased the popularity of social media marketing, propelling the industry forward. |
|
Opportunity |
The major factors that are expected to create lucrative opportunities for the market include emerging trends such as social media analytics & text analytics and increase in need to gain insights for business planning. |
|
Key Trends |
Rise in adoption of sales analytics software by multiple organizations and surge in demand for cloud-based business analytics software among SMEs boost the growth of the sales analytics software market. |
The major factors behind the growth of the AI Sales Assistant Software market include offering productivity, offering algorithm-based suggestions to take an action, faster progress, increase in customer engagement with personalization, converting data into insights, surfacing the best leads using lead scores, among others.
Sales and marketing of organizations teams frequently use AI sales assistants to simplify repetitive activities and free up time to tackle more difficult and involved responsibilities. These products also function or integrate with existing CRM software alongside other applications, but many are also stand-alone products.
AI Sales Assistant Software updates when a deal is stagnant for too long and keeps deals moving smoothly through the pipeline. With the help of an AI Sales Assistant Software, deal status and health can be determined along with notification about the next best action.
AI Sales Assistant software also supports employees by providing context on the customer by using predictive analysis. AI deciphers and makes sense of the data, customer, and previous sales cycles to determine the best-personalized journey to take a prospect on.
The AI Sales Assistant Software Market is segmented into Type, Application and region.
On the basis of Type, the Cloud-based segment of the AI Sales Assistant Software Market is expected to hold a larger market size with a CAGR of 13.7% during the forecast period. The cloud-based AI Sales Assistant Software offer a huge advantage in running the business on a digital platform while also paving the way for more clients on both digital and traditional platforms.
On the other hand, On-Premises AI Sales Assistant Software is expected to represent a significant market share, as they offer a centrally governed platform that gives you the power of AI to drive better business outcomes.
Based on application, the AI Sales Assistant Software market is divided into Large Enterprises and SMEs. Among these, the Large Enterprises segment is anticipated to grow with the highest CAGR of 13.2%.
The Large Enterprises can be benefitted with the use of Artificial Intelligence Sales Assistant Software as these provide support to the organizations to forecast their team's performance for the quarter well in advance, so they can take proactive steps based on the numbers.
| Regions | CAGR (2022-2032) |
|---|---|
|
United States |
11.2% |
|
China |
10.9% |
|
Japan |
10.5% |
|
UK |
10.4% |
The global AI Sales Assistant Software market by region covers five major geographic regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.
North America is expected to dominate the AI Sales Assistant Software Market, owing to the presence of large number of AI Sales Assistant Software Organisations in the region.
The US is expected to represent a massive growth of US$ 33 Bn in the AI Sales Assistant Software market, with a CAGR of 11.2% during the forecast period.
The Asia Pacific region, on the other hand is expected to hold a significant market share with China representing a CAGR of 10.9%, to reach a market share of US$ 6.7 Bn during the forecast period.
Major players such as Conversica, SalesDirector.ai, Clari, Zia, Troops, X.ai, Drift, Amplemarket, Tact.ai, Nudge.ai, Exceed.ai, Saleswhale, and Cien, among others are expected to dominate the market share in terms of revenue. This domination is owing to the rising investment for developing advanced AI Sales Assistant Software to cater to Large Enterprises and SMEs.
In order to strengthen their position in the global AI Sales Assistant Software Market, organizations are focused on industry collaborations, mergers & acquisitions, and partnerships.
The research offers a comprehensive competition analysis of some top competitors in the AI Sales Assistant Software Market, including company biographies, recent developments, and significant market strategies. It shows how the competitors are taking advantage of the opportunities present in the AI Sales Assistant Software Market.
| Attributes | Details |
|---|---|
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Forecast period |
2022-2032 |
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Historical data available for |
2015-2021 |
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Market analysis |
USD Mn for Value |
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Key Countries Covered |
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By Market Segments |
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Key Companies Profiled |
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Pricing |
Available Upon Request |
By Type
By Application
By Region
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AI Sales Assistance Software (Big Data as a Service) market is projected to have a CAGR of 11.4% in 2032.
The US is the leading country, with an anticipated CAGR of 11.2% by 2032.
On the basis of Type, the Cloud-based category leads the market with the projected CAGR of 11.1% by 2032.
The healthcare mobility solutions market is predicted to grow US$ 92.8 Bn by 2032.
Large Enterprises segment leads the market with the projected CAGR of 10.8% in 2032.
