Salesforce Services Market is Reach a Valuation of US$ 33.5 Billion by 2029 | Report by Future Market Insights, Inc.
The Salesforce services market is set to top US$ 13 Bn in 2022 and is predicted to expand at a stupendous CAGR of 14.4% to reach a valuation of US$ 33.5 Bn by 2029. Salesforce services currently account for a 2% share in the global IT services market. Market development is mainly forced by the increasing adoption of salesforce services in the BFSI industry.
As Salesforce services defy the ‘one-size-fits-all’ concept, service providers are offering end-to-end assistance to help end-users get services that are best suited to their requirements. With thousands of Salesforce implementations across multiple enterprises, the Salesforce service providers are extensively focusing on creating impactful experiences to generate substantial profits.
Opportunities galore for manufacturers with the increasing focus of businesses on improved customer engagement and interaction – key imperative driving growth and profitability amid competitive spaces.
Some of the highly-effective Salesforce offerings- marketing cloud, commerce cloud and community cloud to name a few- have gained immense popularity over the years, which is further nudging businesses to choose Salesforce services for long-term returns.
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North America – A Hub of Opportunities for Service Providers
According to the report, increasing adoption of Salesforce services in the BFSI sector is likely to continue, making it one of the most lucrative verticals for the Salesforce service vendors. Over the years, the focus of BFSI is shifting toward fruitful customer engagement in real time and across any device. This, in turn, is pushing the demand for adoption of Salesforce services in BFSI, thereby giving new opportunities for the Salesforce service vendors to reap profits from.
Growth prospects for the Salesforce services, as the report opines, are high in North America, particularly in the US. In addition, the adoption of Salesforce services in Western Europe is estimated to intensify by the end of 2029, which is likely to encourage the vendors to solidify their service capabilities.
As far as growth and expansion are concerned, strategic business partnerships and acquisitions will continue to be the best way forward for vendors. Those alliances will lay the foundation for bespoke innovations to come to the fore, thereby creating a ‘win-win’ for both the parties involved. Considering the challenges enterprises face in terms of Salesforce deployment, key service providers active in the market will continue to focus on offering unmatched support and assistance in a bid to ensure client satisfaction and engagement.
In addition, Salesforce service providers will also continue to center on getting ‘Salesforce service certifications’ to reap benefits in the long-run, as these certifications will not only help them strengthen their core competencies but also expand their client bases.
Since there are so many companies actively providing salesforce services, the nature of the market has become quite competitive. SAP SE, Oracle Corporation, Microsoft Corporation, Salesforce.com Inc., Adobe Inc., DXC Technology, Accenture PLC, IBM Corporation, Pegasystems Inc., Verint Systems Inc., Tata Consultancy Services Limited, and AT&T Inc. are some of the leading salesforce service companies.
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Key Segments of Salesforce Services Industry Survey
Salesforce Services Market by Type of Service:
- Advisory Services
- Change Management
- Integrated Services
- Custom Application Development
- Application Modernisation and Data Migration
- Testing Services
Salesforce Services Market by Application:
- Sales Cloud
- Service Cloud
- Marketing Cloud
- App Cloud
- Commerce Cloud
Salesforce Services Market by Vertical:
- Salesforce Services in BFSI
- Salesforce Services in Healthcare and Life Sciences
- Salesforce Services in Media and Telecom
- Salesforce Services in Retail and CPG
- Salesforce Services in Government
- Salesforce Services in Manufacturing
- Salesforce Services in High Technology
- Salesforce Services in Energy & Utilities
Salesforce Services by Region:
- North America Salesforce Services Market
- Latin America Salesforce Services Market
- Europe Salesforce Services Market
- East Asia Salesforce Services Market
- South Asia & Pacific Salesforce Services Market
- Middle East & Africa (MEA) Salesforce Services Market