The global 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 2% share in the global IT services market. Market growth is primarily being driven by increasing adoption of salesforce services in the BFSI industry.
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Service providers will have to keep their clients informed about various Salesforce service developments and new additions, as well as possible extensions, in order to sow the seeds of rewarding client relationships for sustained growth
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.
According to the FMI report, implementation continues to remain a highly-preferred service, which is broadly categorized into integrated services, application modernization & data migration, custom application development, and testing services. Enterprises will continue to sustain high demand for Salesforce managed services, wherein these businesses get assistance from a whole team of experienced Salesforce administrators as well as consultants for effective management of their Salesforce functions.
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.
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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
Key Questions Answered in the Report
- At what pace is the salesforce services market expected to increase over the coming years?
- At present, what valuation does the salesforce services market enjoy?
- Which prime salesforce service companies are profiled in this analysis?
- What is the salesforce services market predicted to be worth by 2029?
- What is third-party application support?
- How does salesforce travel management help?
- Can one use salesforce for contract management?
- What is salesforce service cloud WFM workforce management?
- What is sales software?
- Is salesforce EMR integration used in hospitals?
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