Approximately 8.5% of the total business process management market's sales currently come from the partner relationship management (PRM) software sector.
In 2021, the revenue from partner relationship management (PRM) software market was $1,034.0 Mn USD. The market for partner relationship management (PRM) software is anticipated to develop at a CAGR of 13.6% from 2023 to 2033, reaching around US$ 4,676.1 Million.
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Over the past few years, PRM software has grown significantly due to the increased acceptance and demand for technologies like business intelligence (BI) and artificial intelligence (AI).
2017-2021 Partner Relationship Management Software Market Demand Outlook Compared to 2023-2033 Forecast
The market for partner relationship management (PRM) software is predicted to expand at a CAGR of 13.6% between 2023 and 2033, up from a historical average of 12.0% between 2017 and 2021, according to Future Market Insights (FMI).
Old project management procedures frequently lacked intuitiveness, and the partial automation of traditional management techniques that damaged data integrity enhanced the need for PRM.
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Need to Reduce Complexity with Channel Partners to Drive Partner Relationship Management Market
In order to secure a lucrative and expanding market in the sector, firms are forming trustworthy alliances as business procedures continue to progress. Organizations having several partnerships want support to lessen the commercial complications brought on by their collaboration. Therefore, PRM software can significantly contribute to the reduction of these business issues.
Partner relationship management assists businesses in streamlining and integrating their interactions with partners, giving them access to resources and facilitating effective communication in order to boost sales on behalf of the businesses. PRM streamlines partner satisfaction and channel conflicts while streamlining management distribution and deal registrations to cut costs and manpower requirements.
Regional Analysis
During the projected period, South Asia & Pacific is anticipated to have the highest growth in the partner relationship management software market. From 2022 to 2032, this region is anticipated to develop by 3.3X.
The market is anticipated to rise as a result of developments in the technology sector, rapid expansion in South Asia and the Pacific, as well as increasing SMEs and internet adoption. The demand for and use of partner management software in nations in the South Asian region has expanded significantly due to growth in the telecom and IT sectors.
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Partner Relationship Management Software Market by Category
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Feb 15, 2023
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