USD 73.47 billion
Partner Relationship Management Market Size, Share, Growth Analysis, By Component(Solutions [Engage, Collaborate, Manage], Services [Managed Services), By Industry Vertical(Information Technology and Telecom, Banking, Financial Services, and Insurance), By Deployment Type(On-premise and cloud), By Organization Size(Large Enterprises, Small and Medium-Sized Enterprises), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2056 |
Region:
Global |
Published Date: October, 2024
Pages:
197
|Tables:
87
|Figures:
76
Partner Relationship Management Market Insights
Global Partner Relationship Management Market size was valued at USD 1.03 billion in 2022 and is poised to grow from USD 1.17 billion in 2023 to USD 3.32 billion by 2031, growing at a CAGR of 13.90% during the forecast period (2024-2031).
The global partner relationship management market is driven by the need to manage and govern the functional relationship between enterprise and external partner channels, emphasis on enhancing partner communication and reduction in channel management cost. The current dynamics of the market, and companies are becoming too difficult to make their offering unique. Firms are contacting sales partners to scale up revenue. Sales partnerships allow businesses to expand into new geography. In efforts to gain channel loyalty from partners, channel managers are saying new market opportunities and stonewalled for a branded solution offering. PRM market growth, as the need to determine how corporations functionally operate with external partner channels drives organizations.
The partner relationship management market size is expected to grow with the increasing adoption of PRM solution by different industries. Furthermore, growing usage of modern technologies like artificial intelligence (AI) and business intelligence (BI), which supports the businesses to make data-backed marketing decisions would also contribute in expanding the market growth. In addition, increasing use of connected devices & Internet of Things (IoT) is expected to continue in the partner relationship management solutions to provide service efficiently, contributing into the growth of market.
US Partner Relationship Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Solutions
Fastest Growth
BFSI
Growth Rate
16% CAGR
Global Partner Relationship Management Market ($ Bn)
Country Share for North America Region (%)
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Partner Relationship Management Market Segmental Analysis
Global Partner Relationship Management Market is segmented by Component, Deployment Type, Organization Size, Industry Vertical, end user and region. Based on Component, the market is segmented into Solutions, and Services. Based on Deployment Type, the market is segmented into On-Premises, Cloud. Based on Organization Size, the market is segmented into Large Enterprises, and Small and Medium-Sized Enterprises. Based on Industry Vertical, the market is segmented into Information Technology and Telecom, Banking, Financial Services, and Insurance, Retail and Franchising, Manufacturing, Healthcare and Life Sciences, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Deployment Type
Based on deployment type, the market is segmented into on-premises and cloud. On-premises segment is dominating as it emerged as the leading deployment method in the market. The on-premises type of delivery model has the software or solutions installed and operated from the customers in-house server and computing infrastructure. The cost of on-premises solutions comes under the Capital Expenditure (CAPEX) of companies. This is mainly practiced for applications where sensitive and confidential data is processed. In the present day, because of ML, IT devices, sensors, clickstreams and so many other devices, every organization generates huge quantities of data. Its on-premises deployment type lets organizations bring the data into their own databases, so they can keep it all safe. Under the on-premises deployment type, companies need to set up the relevant hardware in addition to software. Moreover, there are tasks like the maintenance of hardware, implementation of cyber security applications, employee training, updating new versions. Due to these tremendous initial up-front costs and the continuous need for manual intervention, the on-premises deployment type is something that is cost-efficient for large enterprises.
During the partner relationship management market forecast period, the cloud segment is expected to have the highest growth. Cloud solutions are particularly appealing to small and medium-sized businesses (SMEs) due to their scalability, flexibility, and agility. The decline in prices for cloud computing and the increased focus on remote work is also pushing a transition to cloud-based PRM. Market experts predict that this trend is here to stay, and more than one third of the market demand will be for cloud-based solutions by 2031. The large organizations that have made significant investments in legacy systems will likely continue to use an internal partner relationship management market which can expected to be restraint for the segment.
Analysis by Organization Size
In 2023, the large enterprises segment held prominently larger revenue share compared to small and medium enterprises end-users in market. The corporate network and revenue streams large enterprises are diverse all across the globe, which aids the need for a smoother adoption of newer technologies or solutions into their existing systems. In addition to this, such large organizations prefer to deploy their service and solutions on-premise due to increasing concerns for data safety and certification compliances. The on-premise data implementation helps them keep their data private and confidential. Hence the demand partner relationship management solutions, especially for the on-premises solutions are anticipated to growth during the forecast period.
During the forecast period, it is anticipated that the small and medium enterprise segment will experience the fastest growth rate with a rapidly increasing partner relationship management market size. PRM solutions helps SMEs prioritize the work, avoid redundancy, streamline costs and enhance organizational collaboration through automation. The growth in the number of SMEs is driving this segment, particularly in emerging economies such as India and China. In addition, growing need for partner relationship management solutions among the SMEs to reduce operational cost and improve workflow is expected to drive this segment growth.
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Partner Relationship Management Market Regional Insights
In 2023, North America region secured with the highest revenue share of the partner relationship management industry. With the presence of large number of prominent tech players like Salesforce and Oracle in the area, the partner relationship management solutions landscape is constantly evolving with new innovations. Moreover, factors like the increasing online demands for better partner collaboration is also fuling the market growth. In this regard, it is evident in U.S. about 90% of corporations use some kind of PRM software system, said industry experts. Market growth is also fueled by governmental initiatives pushing for digitalization of multiple sectors.
The partner relationship management market in Asia Pacific is expected to grow at the highest CAGR. This is because of the increasing demands for better insights driven software platforms among SME partners and lead generation across different sectors. As the technology industry evolves in the region the market demand is expected to grow rapidly along with emerging SME's and growing internet penetration. The telecom & IT sector in Asia Pacific region has witnessed robust growth, leading to an increase in the demand and acceptance of partner management software. Process automation has emerged as a solution to streamline operations, sustain partner relationships and help boost the sales with channel partners for many organizations in Asia Pacific. This, in turn, increases the growth of partner relationship management market over the period.
Global Partner Relationship Management Market By Geography
- Largest
- Fastest
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Partner Relationship Management Market Dynamics
Drivers
Growing Reliance on Sales Channels
- With the current competitive perception and difficult for companies to differentiate their product offerings, the production, sales and pivot rate has been accelerated. To not fall behind, firms are quickly reaching out to their sales partners for the corresponding growth. Sales partnerships allow businesses to break into new territories. Therefore, this will increase the demand for controlling the functional relationship of organizations from external partner channels which in-turn is anticipated to drive the market growth of partner relationship management.
Growing Demand for Virtual Document and Information Sharing
- Given the shift towards global and virtual partnerships, PRM will prove its worth for the alignment of stakeholders as it enables collaboration and access to the information lifeline. This has a direct influence on satisfaction of partners and the ability to be able to conduct business today in the digital landscape. Partner relationship management has aided easier collaboration and information exchange between partners irrespective of their location.
Restraints
Threat from Cyberfraud and Data Theft
- PRM solutions contain all kinds of data from business-critical data to customer data. This can render PRM impractical due to privacy concerns. Mobile operators fear losing customer data as this would entail loss of customers. Even partner relationship management market is liable for data privacy according to regulations like general data protection regulation (GDPR). Enterprises have a much different data sharing and accessibility requirement. Hence, PRM solution and service providers should offer utmost privacy and security.
Difficulty of System Integration
- PRM solutions depend on organizational configuration, as this dictates direct reports between managers and subordinates. The structures can be different for the resellers or partner networks and can pose issues for a PRM solution. Most of the large enterprises already have legacy systems, along with which it will be a tough battle for PRM providers to map. As a result, the PRM providers face challenges related to complex process and system integration issues.
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Partner Relationship Management Market Competitive Landscape
The partner relationship management industry is dominated by the key players who are depended on providing innovative and service solutions to potential customers. These solutions are also responsible for providing partnership agreements, M&A of small-medium players, patents or any regulatory approval in order to sustain in the partner relationship management market. The leaders are emphasizing on acquisition, partnership and collaboration in order to strengthen their market presence and gain competitive edge. Several strategic initiatives, such as joint ventures, new product launches, partnerships as well as contracts and agreements, are being undertaken by the market players in order to strengthen their share over the market.
Top Player’s Company Profiles
- Allbound (US)
- Channeltivity (US)
- Oracle (US)
- Impartner (US)
- Salesforce (US)
- LogicBay (US)
- Magentrix (Canada)
- Zinfi Technologies (US)
- Zift Solutions (US)
- Mindmatrix Inc. (US)
- PartnerStack (Canada)
- ChannelXperts (Germany)
- Creatio (US)
- AppDirect (US)
- Webinfinity (US)
- PartnerPortal.io (US)
- Kiflo (France)
- Crossbeam (US)
- Everflow (US)
- Affise (Lithuania)
- WorkSpan (US)
- LeadMethod (US)
- Sharework (France)
- Agentcis (Australia)
- CoSell (US)
Recent Developments
- Dentsu Singapore announced an alliance with Impact Tech Inc in February 2022. The collaboration is aimed at empowering and improving services for their clients globally.
- Salesforce acquired Datorama to add to its PRM portfolio in June 2022. Datorama provides AI-powered data intelligences and analytics solutions.
- Oracle Partner Cloud is a new PRM solution released by Oracle in April 2022. The new solution is designed to help companies oversee their partnerships better and grow even faster.
Partner Relationship Management Key Market Trends
- Growing Focus on Risk Management and Data Compliance: Partners and companies struggle with compliance requirements and risk exposure, which continues to drive the need for automated controls and visibility that can help enforce policy across a wide range of partner networks. PRM solution digitally verifies and monitors the expiration of important compliance documents such as non-disclosure agreements and certificates of insurance.
- Increasing Penetration on Online Trade and Business: In line with the newfound popularity of shared business ecosystems and co-selling within online businesses, partner relationship management (PRM) gives businesses tools to track their affiliates and sales partners, as well as for those partners to communicate with and gain support from the business. The increase in online business is likely to drive up demand for such software including PRM.
Partner Relationship Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the market has seen tremendous growth fueled by heightened awareness of the strategic importance of partner ecosystems and a need for seamless collaboration. Some of the key factors that are expected to propel the growth of the partner relationship management industry include necessity to manage functional interaction between organizations and outside partner channels, high focus on partner communication advancement and reduction in channel management expenses. On the other hand, factors such as limitation in data security & privacy are anticipated to restrain the market growth. This will create opportunities for vendors in the partner relationship management market such as business intelligence (BI) for improved channel performance and AI integrated into PRM to improve partner engagement.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.03 billion |
| Market size value in 2031 | USD 3.32 billion |
| Growth Rate | 13.90% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Partner Relationship Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Partner Relationship Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Partner Relationship Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Partner Relationship Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Partner Relationship Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Partner Relationship Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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