Lead Management Software Global Market Report 2024

The lead management software market size has grown strongly in recent years. It will grow from $9.26 billion in 2023 to $10.12 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The expansion during the historical period can be credited to an upsurge in the demand for crowdsourcing, heightened utilization of customer relationship management (CRM) systems, increased adoption of lead management software among small and medium-sized enterprises, amplified importance of data analytics, and a surge in the usage of mobile devices.

The lead management software market size is expected to see strong growth in the next few years. It will grow to $14.54 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The anticipated growth in the upcoming period is attributable to the escalating pace of digitalization, mounting significance of data-driven decision-making, the emergence of omnichannel marketing strategies, an increase in the desire for social engagement, and widespread acceptance of lead generation methodologies in the insurance and banking sectors. Key trends projected for the forecast period encompass a heightened demand for enriched customer interaction, uptake of digital transformation endeavors, migration towards cloud-based solutions, integration with AI and automation, and utilization of lead capture software.

The increasing digitalization is expected to drive the growth of the lead management software market in the future. Digitalization involves integrating digital technologies into various aspects of business operations, organizational processes, and societal activities to optimize efficiency, enhance productivity, and create new value. This trend is fueled by changing consumer and business expectations, as well as the widespread availability of high-speed internet. Lead management software plays a crucial role in digitalization by digitizing and automating various aspects of the lead management process. This enables organizations to effectively leverage digital channels, data, and automation to generate and convert leads more efficiently. For example, according to the Department for Digital, Culture, Media and Sport of the United Kingdom, the digital economy of the UK tech sector's annual gross value added (GVA) is expected to increase by an additional £41.5 billion ($51.3 billion) by 2025, as reported in October 2022. Therefore, the growing digitalization is a key driver of the lead management software market.

Key players in the lead management software market are focusing on developing advanced solutions, such as AI-based lead generation systems, to enhance lead scoring accuracy, automate personalized follow-ups, and improve overall conversion rates. An AI-based lead generation system utilizes artificial intelligence (AI) technologies to identify, attract, and qualify potential customers for a business. These systems leverage machine learning algorithms, data analytics, and natural language processing to streamline the lead generation process, making it more efficient and effective. For instance, Oracle Corporation, a US-based software company, introduced the Oracle Fusion Marketing System in September 2021. This system utilizes AI to automate critical aspects of digital marketing campaigns, including generating and qualifying leads across traditional marketing and advertising channels. It can automatically score leads at the account level, predict when prospects are ready to engage with sales, and generate qualified sales opportunities directly through a CRM system.

In November 2022, Hellman & Friedman LLC, a US-based private equity firm, and Permira, a UK-based private equity firm, acquired Zendesk for $10.2 billion. This acquisition provides Zendesk with the financial resources and expertise needed to support its long-term growth strategy and continue to execute on its customer experience platform. Zendesk, a US-based company, specializes in offering lead management software.

Major companies operating in the lead management software market are Oracle Corporation, SAP SE, Salesforce Inc., Adobe Inc., HubSpot Inc., Zoho Corporation Pvt. Ltd., DiscoverOrg, ActiveCampaign LLC, Pipedrive Inc., Intercom Inc., Driftcom Inc., RocketReach, Keap, Lusha Systems Inc., Smith ai, Unbounce, Clearbit Inc., LeadGenius, SalesLoft, Hunter io, SharpSpring, Nutshell Inc., Leadformly, Navis, Datanyze Inc.

North America was the largest region in the lead management software market in 2023. The regions covered in the lead management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the lead management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Lead management software is a digital tool created to streamline and enhance the process of capturing, tracking, nurturing, and converting potential customers (leads) into sales. Its purpose is to assist businesses in effectively managing their sales pipeline by automating and organizing activities related to leads. This software seamlessly integrates with other customer relationship management (CRM) systems and marketing tools to comprehensively handle leads throughout their lifecycle.

The primary types of lead management software products are cloud-based and on-premise. Cloud-based solutions utilize the Internet for storing, managing, and processing data, rather than relying on local storage and processing on a user's device. They find applications across various sectors, including large enterprises and industries such as banking, financial services and insurance, food and beverages, government, health, wellness & fitness, logistics and supply chain, retail, manufacturing, and others.

The lead management software market research report is one of a series of new reports that provides lead management software market statistics, including lead management software industry global market size, regional shares, competitors with a lead management software market share, detailed lead management software market segments, market trends, and opportunities, and any further data you may need to thrive in the lead management software industry. This lead management software research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The lead management software market consists of revenues earned by entities by providing services such as analytics and reporting, lead tracking and monitoring, lead routing and distributing. The market value includes the value of related goods sold by the service provider or included within the service offering. The lead management software market also includes sales of CRM tools, and open-source management systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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