SalesTech market landscape, 9th edition
SalesTech market landscape, 9th edition
I'm thrilled to announce the release of the 9th edition of my SalesTech landscape.
It's incredible to see that this year we have a whopping 25% increase in companies, with a total of 1570!
In this edition, I've added a few categories: Email Deliverability, Extended Reality (XR) for Sales, Customer Success Management (CSM), Ecosystem/Co-Selling Management, and Product-Led Sales.
Now, let's address the remarkable participant increase amidst a phase of consolidation.
Many businesses have begun streamlining their sales software after a buying spree in the past couple of years, which resulted in too many applications. This situation often led to underutilization, fragmented workflows for sellers, and challenges in consolidating data. However, it's important to note that this primarily applies to tech companies. In most other industries, businesses are still in the early stages of modernizing their sales stack and haven't reached the point of rationalizing it yet.
From a vendor's perspective, consolidation is driven by a select group of players known as Alpha players, as referred to by Craig Rosenberg. These players have received significant funding and have outgrown their initial categories, prompting the need for expansion. Overall, the SalesTech industry is still in its early stages, attracting many new entrants, especially with the disruptive opportunities created by AI.
While it's impossible to cover all the trends in a brief post, I'd like to highlight a few:
Sales Assistants and Sales Guidance/Recommendations are experiencing tremendous growth, with a staggering 100% and 80% increase in providers respectively, thanks to the boost from AI.
Technologies that assist buyers in their exploration journeys are also on the rise. They include Mutual Action Plans (+50% ), Content Sharing & Digital Sales Rooms (+50%), Extended Reality for sales (new category), and Interactive Demos (+130%).
Deal/Revenue Intelligence is vibrant with over 55 players (+30%) while Conversation Intelligence is getting incorporated into multiple apps.
Here is the foundational blueprint that you can utilize to map players, your current stack, and identify the desired end state.
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