Partner Relationship Management Market Research Report—Global Forecast till 2026

Global Partner Relationship Management Market Research Report: Information by Component (Solution [Engage, Collaborate and Manage] and Services [Managed, Training, Consultation, and Implementation]), Deployment Mode (On-Premises and Cloud), Organization Size (Large Enterprises and Small & Medium-Sized Enterprises), Vertical (BFSI, Retail & Franchising, Healthcare & Life Sciences, Manufacturing, IT & Telecommunications, and Others), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)- Forecast till 2026

ID: MRFR/ICT/9088-HCR | May 2021 | Region: Global | 141 pages

Market Overview


As per the partner relationship management market forecast, it is projected that the market will grow at a cagr of 13.77%. The market value is estimated to reach usd 1,994.76 million during the forecast period 2020-2026. Partner relationship management is a blend of various functions of software, workflows, and techniques. There are various industries that are using the prm for their efficient workflow and their channel partners.

The increasing use of external distribution of channels or networks, and the outside sales among various industries are the major key factors for the market. Partner relationship management is largely used for establishing better relationships between the channel partners and the vendors of an organisation. It helps to enhance the management by using customisation tools or various business purposes.

The partner relationship management market analysis suggests that for the growth, the market requires partner adoption, strategic plans for the business, marketing of channel, training for the partner, etc. It also helps to cut down the maintenance costs which will influence the market in the upcoming years. Also, the rising demand for giving accurate information, and analysing the performance, and increasing the performance of sales are projected to promote the market growth.

The growing investments for various key players or providing enhanced services will push the market towards growth. Various sectors such as telecommunication and information technology require partnership relationship management for better management and analysis of data.

Covid-19 Analysis

The drastic outbreak of the covid-19 pandemic around the world had a massive impact on the market. Several business organisations use the integrated solution in personal relationship management to improve the relationship between their various channel partners and other functions. But, due to the outbreak all these processes were halted which has largely affected the market growth. It is observed that the market has observed a severe decline in revenue growth during the initial months of 2021. However, it is suggested that the market will regain its potential after the pandemic is over.

Market Dynamics

Market Driver

Companies are looking for integrated and effective solutions for approaching sales partners for improving their growth. The major factors for the partner relationship management market growth are the rising need for controlling establishing a better relationship between partner channels and the organisations. The increasing rate of selling, producing and another process is also promoting the growth of the market. Also, there are several technology companies that are heavily dependent upon indirect sales for generating revenue and other processes. Thus, these above actors are expected to promote market growth during the forecast period.

Restraints


There are several restraints of the global partner relationship management market that will prevent its growth. One of the major restraints of the prm market is data privacy and security. The global partner relationship market requires extensive data which are confidential for enhancing the relationship. This is why the enterprises hesitate to share any critical data and other information. Also, the mobile operators don't want to breach the security data as they fear losing customers. In the past few years, the cases of cyber-attacks have been rising which can be a risk for data security and privacy.


Opportunities


Medium-sized, small, and large enterprises use the prm technology for efficient marketing of their services or products to their customers. Due to continuous technological developments and upgrades, the uses and other features are getting more complicated. There are partner relationship management market opportunities such as the innovation of new and simple technologies such as the use of artificial intelligence can promote the uses of prm solutions.


Challenge


The uses of prm based solutions differ among the business which is based upon their needs. It is a complicated process as it helps to manage various business needs. Hence, the prm solutions are based upon the size of business organisations such as large, medium, and small enterprises. Most of these enterprises have old systems which can be challenging for the providers in the prm market. Thus, the complicated installation process and systems along with the presence of old systems can be challenging for the partner relationship management market to grow.


Cumulative Analysis


The rising technological advancements are one of the major factors for the growth of the prm market. The compound annual growth rate of the prm market is projected to be at 13.77%. The partner relationship management market revenue will grow exponentially and will reach around usd 1,994.76 million during the forecast period 2020-2026.


Value Chain Analysis


The growing adoption of integrated solutions for catering more customers will influence the market. Various businesses around the world are using prm solutions to establish better connections with channel partners. Hence, the partner relationship management market demand will increase in the upcoming period.


Global Partner Relationship Management Market, 2018–2026 (USD Million)
Partner Relationship Management Market


Source: MRFR Analysis


Market Segmentation


The partner relationship management market share is segmented into deployment mode, vertical, component, and organisation size.


On the basis of organisation size, the partner relationship management market is further segmented into medium and small enterprises and large enterprises.


The partner relationship management market on the basis of deployment mode, is divided into on-cloud and on-premises,


On the basis of vertical, the prm market is further classified into life sciences and healthcare, bfsi, telecommunication and it, franchising, and retail and manufacturing.


The component segment of the prm market is further divided into services and solutions. The solution category is further bifurcated into consultation, managed, training and implementation.


Regional Analysis


On the basis of region, the global partner relationship management market size is divided into north america, latin america, europe, asia-pacific, the middle east, and south africa. It is projected that the north american region will hold the largest market share during the forecast period. One of the major reasons for growth is the rapid adoption of new technologies in countries such as canada and the us. Various leading key players are also present in these regions that offer adequate and enhanced prm services.


However, the asia-pacific region is expected that it will have the fastest growth during the forecast period. Rapid technological growth in countries such as japan, china, and india will help to escalate the growth in the upcoming years for the partner relationship management market.


Competitive Landscape


Various key players in the global partner relationship management market are continuously trying to improve their geographical foothold in the market. They do several improvements in their companies to improve their business and generate more revenue. For example, mergers, product launches, collaborations, market analysis, acquisitions, etc. For market growth.


Alcatraz is one of the leading key players in the partner relationship management market. It recently partnered with a company called channelivity for improving its business.


Another major company called salesforce also updated its prm services by integrating artificial intelligence and other functions


Some of the major partner relationship management market key players are-



  • com inc (us)

  • Sharework (france)

  • Allbound inc (us)

  • Magnetrix corporation (canada)

  • Oracle corporation (us)

  • Zift solutions (us)

  • Channelxperts (germany)

  • Logicbay (us)

  • Partnerstack (canada)

  • Allbound inc (us)

  • Creatio (us)

  • Mindmatrix (us)

  • Affise inc. (lithuania)

  • Webinfinity (us)

  • Agentics (australia)

  • Zinfi technologies (us)

  • io (canada)

  • Kiflo (france)

  • Channeltivity (us)

  • Impartner (us)


Recent Developments


In the year 2020, allbound inc. Announced the launch of its new services in its prm platform along with “hubspot." with the new technology, its customers can combine the necessary contacts, services, and other opportunities automatically. They can also sync their data in its prm platform to improve their workflow.


During 2020, impartner announced the launch of its new service called "impartner channel ignite prm package.” It provides sufficient and integrated solutions for various enterprises to improve their channel performance.


Report Overview


The report overview of the global partner relationship management (prm) market-



  • Overview of the market

  • Covid 19 analysis

  • Dynamics of the market

  • Value chain analysis

  • Market segmentation

  • Regional analysis

  • Competitive landscape

  • Recent developments of the key players


Report score and segmentation



  • Study period- 2021-2027

  • Base year- 2021

  • Forecast period- 2021-2027

  • Historical period- 2020-2021


The score of the report is to provide information related to the relationship management market outlook. This report provides various market details such as market drivers, opportunities, challenges, and restraints. It also highlights the strength and the growth of the market in the upcoming years. Furthermore, the report also provides brief information about the major key players in the market.


By organisation size



  • Medium and small size enterprises

  • Large enterprises


By component



  • Services

  • Solutions

  • Training

  • Implementation

  • Consultation

  • Management


By vertical



  • Franchise and retail

  • Manufacturing

  • Telecommunication and it

  • Bfsi

  • Life sciences and healthcare


By deployment



  • On-cloud

  • On-premises


By region



  • Europe

  • North america

  • Asia-pacific

  • Latin america

  • The middle east and africa