Partner relationship management (PRM) software market is estimated to garner a revenue of ~USD 4 billion by the end of 2031 by growing at a CAGR of ~13% to 2031

NEW YORK, NEW YORK, UNITED STATES, October 25, 2022 /EINPresswire.com/ -- Research Nester published a report titled “Partner Relationship Management (PRM) Software Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global partner relationship management (PRM) software market in terms of market segmentation by type, application, enterprise, industry and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global partner relationship management (PRM) software market is anticipated to grow with a CAGR of ~13% during the forecast period, i.e., 2022-2031. The market is segmented by application into on-premises, cloud-based. Out of these segments, the cloud segment is anticipated to garner the largest market share over the forecast period, owing to the increasing expansion of cloud industry. In addition, increasing adoption of cloud-based services among business companies is also expected to boost the growth of the segment in the coming years.

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The global partner relationship management (PRM) software market is estimated to garner a moderate revenue by the end of 2031, backed by the increasing number business conducted online worldwide. Various features provided by partner relationship management (PRM) software including reselling relationships like partner recruitment, onboarding, enablement, co-marketing, deal registration, and commission payments for reseller partners are also projected to boost sales of these software in the coming years. Moreover, increasing digitization of organizations as well as rising penetration of digital businesses is also projected to propel the growth of the market during the forecast period.

Geographically, the global partner relationship management (PRM) software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is estimated to garner the largest market share over the forecast period, owing to the rising e-commerce along with increasing business-to-business(B2B) share. Apart from this, the market in Asia Pacific is anticipated to register significant growth in the coming years.

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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Increasing Digital Transformation to Drive the Market Growth

According to the data, total spending on global digital transformation (DX) is expected to reach ~USD 1.8 trillion in 2022.

Digital transformation of businesses, products and services is expected to accelerate the market growth in the coming years, as businesses are co-innovating together, co-marketing, co-investing, and co-selling with their ecosystem partners. Moreover, the increasing technological advancements as well as the increasing growth of the IT industry are also expected to drive the growth of the global partner relationship management (PRM) software market during the forecast period.

However, siloed partnerships and siloed business processes along with possibilities of accidental data exposure are expected to operate as key restraints to the growth of global partner relationship management (PRM) software market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the of global partner relationship management (PRM) software market which includes company profiling of Oracle Corporation, Salesforce.com Inc., Channeltivity, Allbound Inc., Zinfi Technologies Inc., Mindmatrix Inc., Agentics, Magnetrix Corporation, Kiflo PRM, Partner Stack Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the of global partner relationship management (PRM) software market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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