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

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.