Market Analysis
published on Oct 30, 2020
Report Overview:
NelsonHall's market analysis of the Salesforce Services consists of 52 pages.
Who is this Report for:
NelsonHall’s “Salesforce Services: Industrialization & Verticalization” report is a comprehensive market assessment report designed for:
- Sourcing managers investigating sourcing developments within the IT services market
- Vendor marketing, sales and business managers developing strategies to target IT service opportunities digital
- Financial analysts and investors specializing in the IT services sector, including digital.
Scope of this Report:
The report analyzes the worldwide market for Salesforce services and addresses the following questions:
- What is the current and future market for Salesforce services?
- What are the client segments for Salesforce services, and their characteristics? What are the drivers, benefits, and inhibitors for each segment?
- What is the size and growth of the Salesforce services markets by client segment, geography, service line, activity, and sector?
- How did spending grow in 2020-21 and how will it increase in the next five years?
- How is the market organized? Who are the main vendors? How can they be assessed and compared? What are vendors’ challenges and critical success factors by market segment?
- What are the offerings in the market?
- How are Salesforce services shaping?
Key Findings & Highlights:
NelsonHall’s market analysis of the Salesforce services market consists of 52 pages. The report provides an in-depth understanding of the dynamics at play in the Salesforce services market.
The Salesforce services market is a dynamic market. Current spending is limited, to ~$9.2bn. Despite the pandemic and several sectors impacted by the crisis, service spending will be high in 2020, up by ~22.
There are two main drivers for the growth of the Salesforce services. At the core is the success of Salesforce, which has emerged from a niche (sales force automation) and become the leader in front-office software (including CRM, commerce, contact center, and marketing applications) and also a platform on which clients are creating their software. Salesforce intends to double its size between 2019 and 2023 organically. Services will also double during the same period, reaching, by 2024, ~$21.8bn.
The U.S. is the largest market. Salesforce is focusing on international markets to sustain its growth. Service spending is increasing in international markets, even though the U.S. remains the largest geo. If Salesforce makes further significant acquisitions as NelsonHall expects, these M&As will strengthen the service opportunity in the U.S.
Sales and Service Clouds are the largest markets and have kept growing in 2020, despite their maturity. Service Cloud has been driven by clients investing in contact centers during the pandemic. New products (e.g., Community, Marketing, Commerce, MuleSoft, quote-to-cash, Lightning Field Services and the vertical Clouds) will drive adoption.
BFSI, Communications, and Healthcare & Life Sciences are the largest Salesforce services markets. These three sectors have done well during the pandemic and maintained their investments. Healthcare & Life Sciences will become the largest spender, followed by BFSI and Communications. Retail & CPG and Manufacturing will resume spending once they absorb the disruption brought by the pandemic.
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Salesforce Services 2020
published 2020-12-18 | Project by Dominique Raviart