The lead management market is expected to reach USD 12,342 Million by 2032 at a CAGR of 17%. The market is expected to reach USD 2,558.2 Million in 2022.
The popularity of social interactions, cloud-based business solutions, widespread adoption of the software by financial institutions, and the advantages of collaborative approaches are driving the market for lead management. From 2016-2021, the market displayed a growth rate of 15.2%.
Lead management, also known as lead generation, is the practice of generating and qualifying new potential business prospects, both from a business to business perspective and from a direct-to-consumer perspective. The management of leads is usually accomplished through marketing campaigns and programs.
| Data Points | Key Statistics |
|---|---|
| Expected Base Year Value (2022) | USD 2558.2 Million |
| Anticipated Forecast Value (2032) | USD 12,342 Million |
| Estimated Growth (2022 to 2032) | 17% CAGR |
A lead management team is responsible for maintaining a business relationship between the advertising it sends to consumers and the activity that occurs as a result of those ads. In order to build a closed-loop sales and marketing process, lead management integrates CRM business processes and technology in order to develop higher-value sales and marketing opportunities.
In order to enhance the profitability of a business, lead management entails acquiring new clients, maintaining brand identity in the market, and selling to current clients. Managing leads is a complex process that entails handling a variety of different kinds of leads, including aged leads, web leads, event and purchased leads, and trigger leads.
As part of lead management, companies may offer services such as lead nurturing, lead scoring, campaign management, or e-mail marketing. Nowadays, lead management processes are becoming increasingly technology-centric and rely more on automation systems to replace manual ones. As a result, the lead management market is expected to grow significantly over the forecast period.
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As new industries or businesses are being established around the world, and large global companies are being acquired, the demand for lead management is expected to grow rapidly in the near future.
Additionally, the demand for lead management is anticipated to increase with the increased adoption of lead management by small and medium-sized businesses (SMBs) in the market.
Marketing and sales teams are increasingly collaborating, which drives the demand for lead management in the market. Furthermore, incorporating conversational artificial intelligence into lead management software enhances the ability of marketers to automate lead nurturing and lead enrichment activities.
Further, it reduces sales costs, makes it easier for businesses to reach more people, as well as helps sales teams focus their efforts on the best leads to generate sales in the market. In the near future, Chabot will become an integral part of customer interaction, driving the growth of the lead management software sector in the market.
One of the keys to success for many businesses over the long term is the implementation of an effective and efficient sales pipeline. Modern tools offer powerful lead management solutions to help sales managers make the most of their existing prospects and new leads.
Lead management tools that automate the process of monitoring prospect behavior can help companies increase revenue by engaging in timely, individual interactions with prospects. By removing duplicates and merging customer data from disparate sources, automation enhances the quality of customer data.
Lead management markets are having difficulty convincing channel partners of fair lead distribution systems. The process of following up with leads is difficult because it's challenging to get their attention, and thus losing out on potential sales opportunities in the market. Reporting problems, such as multi-line partners selling their products at a lower rate than their competitors, will hinder the growth of the market.
Additionally, channel managers need to be convinced to avoid manually revising leads before they are allotted, which is yet another factor that will hinder the market from expanding. It is expected that the global lead management market will be restrained by strategies that include complex combinations of direct sales offices and resellers in the market.
However, leading management software can be very expensive to implement, which may lead to a decline in market growth. Using an outdated lead management system or a manual system can lead to losing sales opportunities as the number of leads grows. The most common cause is the failure to complete tasks or the failure to address them properly for a period of time. These factors are all set to hinder the growth of the market in the coming years.
Principal Consultant
The mortgage market in North America has changed positively, making this region the market leader in the global lead management market. This region is expected to hold 32.2% of the global market share in 2022.
The demand for cloud-based solutions, as well as the increase in social interaction, has propelled the growth of the market for lead management in this region. Furthermore, this region also has a highly developed infrastructure and is home to many leading software companies which has added to the growth of this market.
Lead management software is most commonly used in Canada and the United States. In addition, lead management is also expected to grow in this region as chronic diseases like cancer and diabetes will drive greater utilization of health care services, in turn promoting the growth of lead management services.
Due to increasing digital connectivity in these regions, the APAC accounts for a considerable share of the global lead management market. The economies of the Asia-Pacific region are also estimated to have a positive impact on the future growth of the region. A significant increase in IT-enabled service (ITeS) providers in this region have led to an increase in demand for lead management software in the market.
A majority of lead management software throughout the region is consumed by developing countries such as India and China. The top five revenue-generating companies in the lead management software market are Adobe, IBM, Salesforce, Oracle, and Microsoft. Amidst fierce competition, these companies are focusing on inorganic growth to keep their businesses afloat.
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Lead management services based on the cloud are expected to grow in the near future. As a result of their lower costs and greater flexibility, businesses prefer SaaS and cloud-based applications over on-premises applications.
Lead tracking, lead sorting, and lead distribution are among the key functions that cloud-based lead management systems serve to facilitate the organization. The demand for inbound lead tracking has also contributed to cloud-based lead management's growth.
As technology becomes more complex, customers are seeking more flexible, high-performance cloud platforms in the market. It is also of crucial importance for customers to be able to access the same cloud platform options conveniently and intuitively in order to take advantage of them. These factors have therefore led to an increase in demand for cloud-based lead management in the market.
Hospitals from various regions are contributing to the growth of lead management in the market. Due to the rising number of patients and chronic diseases around the world, hospitals are gaining a competitive advantage by optimizing their lead management strategies in the market.
A growing digital transformation in the healthcare sector, as well as the use of hospital apps for online consultation, has further contributed to the growth in lead management. With the increase in patient volume, it has become increasingly difficult for hospitals in the market to monitor patients and ensure appointments are managed in a timely manner.
While securely managing patient information, organizations must centralize leads across different regions. Thus, it is expected that market demand for lead management in hospitals will grow significantly over the next few years.
Business models constantly change over time, mainly due to technological advancements and market fluctuations, triggering exciting new trends in the market.
The cloud-based platforms offered by these technology-based start-ups are complemented by a wide range of lead tracking and management activities. Since numerous patient tracking platforms utilize lead management, most cloud-based lead management applications are deployed within hospitals.
Several leading lead management service providers have implemented strategies such as mergers and acquisitions, as well as providing cloud-based platforms and mobile applications which are facilitating user adoption.
Key players in the global lead management market include Salesforce, Oracle, SAP, IBM, Microsoft, Siebel CRM Systems, Inc., MarketNet, Vovici-Verint, Pipedrive, Inside sales box, Drishti, Sales optimize, ProsperWorks, Zoho, Nutshell, Marketo, Hubspot, DemandGen International, Inc., VanillaSoft, NAVIS, SalesLoft, Drift, Outreach, LeadSquared and Others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 17% from 2022-2032 |
| Market Value in 2022 | USD 2,558.2 Million |
| Market Value in 2032 | USD 12,342 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Technology, Service, Deployment, End User, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, GCC, South Africa, Israel |
| Key Companies Profiled |
Salesforce; Oracle; SAP; IBM; Microsoft; Siebel CRM Systems, Inc.; MarketNet; Vovici-Verint; Pipedrive; Inside Sales Box; Drishti; Sales Optimize; ProsperWorks; Zoho; Nutshell; Marketo; Hubspot; DemandGen International, Inc.; VanillaSoft; NAVIS |
| Customization | Available Upon Request |
FMI projects the global lead management market to expand at a 17% value CAGR by 2032
North America is expected to be the most opportunistic lead management market, accumulating 32.2% revenue in 2022
Salesforce, Oracle, SAP, IBM, Microsoft, and Siebel CRM Systems, Inc. are some of the prominent players of the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2016-2021 and Forecast, 2022-2032 5. Global Market Analysis 2016-2021 and Forecast 2022-2032, By Technology 5.1. Batch Imports 5.2. Electronic Data Transfer 5.3. Quick Apply Web Forms 6. Global Market Analysis 2016-2021 and Forecast 2022-2032, By Service 6.1. Major Accounts 6.2. Round Robin 6.3. Geographical 6.4. Historical Match 6.5. Proximity/Radius 7. Global Market Analysis 2016-2021 and Forecast 2022-2032, By Deployment 7.1. Cloud-Based Platform 7.2. Web-Based Platform 8. Global Market Analysis 2016-2021 and Forecast 2022-2032, By End User 8.1. Healthcare 8.2. Financial Services Sector 8.3. Professional Services Sector 8.4. Sports & Entertainment 8.5. Non-Profit Organizations 8.6. Education Sector 8.7. Hospitality, Travel & Tourism 9. Global Market Analysis 2016-2021 and Forecast 2022-2032, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2016-2021 and Forecast 2022-2032, By Country 11. Latin America Market Analysis 2016-2021 and Forecast 2022-2032, By Country 12. Europe Market Analysis 2016-2021 and Forecast 2022-2032, By Country 13. Asia Pacific Market Analysis 2016-2021 and Forecast 2022-2032, By Country 14. MEA Market Analysis 2016-2021 and Forecast 2022-2032, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Salesforce 17.2. Oracle 17.3. SAP 17.4. IBM 17.5. Microsoft 17.6. Siebel CRM Systems, Inc. 17.7. MarketNet 17.8. Vovici-Verint 17.9. Pipedrive 17.10. Inside sales box 17.11. Drishti 17.12. Sales Optimize 17.13. ProsperWorks 17.14. Zoho 17.15. Nutshell 17.16. Marketo 17.17. Hubspot 17.18. DemandGen International, Inc. 17.19. VanillaSoft 17.20. NAVIS 18. Assumptions & Acronyms Used 19. Research Methodology
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Lead Management Market
