The global partner relationship management (PRM) market is projected to reach USD 1,994.76million by 2026, registering a 13.77% CAGR during the forecast period. This report includes the segmentation and dynamics of the partner relationship management market to offer a better glimpse into the coming years.
The global partner relationship management market has been segmented based on component, deployment mode, organization size, vertical, and region.
Based on components, the global partner relationship management market has been segmented into solutions and services. The solution segment is further sub-divided into engaging, collaborate, and manage. The services segment is further sub-divided into managed, training, consultation, and implementation. The solution segment is expected to account for a significant market share over the projected period. As PRM solutions continue to assist businesses in automating partner channel functions and reduce organization costs, the demand for PRM solutions across industry verticals is expected to increase significantly during the study period.
Based on deployment modes, the global partner relationship management market has been segmented into on-premises and cloud. The market is expected to be dominated by the on-premises deployment model and is expected to maintain its dominance during the study period, 2020-2026. This is mainly due to the vast amounts of data being generated by organizations. The on-premises deployment has allowed businesses to include the on-premises deployment delivery model in the capital expenditure of their company. This allows businesses to install the software and hardware with their own databases and maintain data security.
Based on organization size, the partner relationship management market has been segmented into large enterprises and small & medium-size enterprises. The large enterprises are expected to dominate the market during the study period, 2020–2026, due to their growing corporate network and revenue streams across the globe.
Based on vertical, the partner relationship management market has been segmented into BFSI, retail & franchising, healthcare & life sciences, manufacturing, IT & telecommunication, and others. The IT &telecommunications sector is expected to dominate the market during the study period, 2020–2026, due to the growing challenges faced to maintain synchronization across enterprise customers and their channel partners across the globe.
The key players of the global partner relationship management market are Allbound Inc (US), Channeltivity (US), Oracle Corporation (US), Salesforce.com Inc (US), Impartner (US), LogicBay (US), Magnetrix Corporation (Canada), ZINFI Technologies (US), Zift Solutions (US), Mindmatrix (US), PartnerStack (Canada), ChannelXperts (Germany), Affise Inc. (Lithuania), Creatio (US), Appdirect (US), Webinfinity (US), PartnerPortal.io (Canada), Kiflo (France), Agentics (Australia) and Sharework (France).
The regional analysis for the global partner relationship management market has been done for North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America. The market in North America accounted for the largest market share in 2019, and it is expected to register strong growth during the forecast period. The market in Asia-Pacific is expected to register the highest CAGR during the forecast period. This growth can be attributed to the industrial and technological advancements in the economies of the region.
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