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Sales intelligence market is very promising according to different estimations. It was valued at US$2.68 billion (2021-2022). What initially began as a reaction to the crisis, COVID-19 pandemic, has now transformed into the new standard, carrying significant implications for the future of business transactions between buyers and sellers.

Sales Intelligence Market Snapshot

What is happening to market?

Having a large amount of data is a superpower, modern challenges require a data-driven approach. But the biggest problem of modern sales is that the sales teams having that data cannot take immediate actions on it. In general, 73% of sales professionals use sales technology to close more deals, and since 2016 investment in sales technology has grown by 53% (in 2023). Sales professionals are becoming more aware of the benefits of sales technology, but there are still gaps in adoption.

More and more B2B sales interactions are getting digital. By 2025 Gartner expects 80% of B2B sales interactions between suppliers and buyers to occur in digital channels. B2B buying behaviors have been shifting toward a buyer-centric digital mode.

According to McKinsey 70% of B2B decision makers say they are open to making new, fully self-serve or remote purchases in excess of US$50,000, and 27 percent would spend more than US$500,000. The high-quality self-service is king, we can observe it through different categories: self-service supermarkets, virtual assistance etc.

Business signals tracking, from operational analysis to foresight. In today's business environment, companies face intensifying competition and shorter lifespans due to technological disruptions. The average lifespan of companies has decreased from approximately 35 years to a mere 20-22 years, and this trend is expected to continue declining. Business signals, also referred to as trigger events or business triggers, are indicators of significant changes or emerging trends in the business environment. Identifying and monitoring these signals provides businesses with an opportunity to proactively prepare for impending changes and gain a competitive edge. For example, product Intently analyzes a wealth of data to pinpoint prospects with buying intent signals relevant to the offering.

Artificial Intelligence As-a-Trend

The infusion of AI and machine learning (ML) capabilities has created a massive opportunity for companies to automate their pre-sales process and improve sales leads. For example, in July 2021 ZoomInfo, one of the leaders in modern go-to-market software, data, and intelligence, which provides information and data for companies and business individuals announced it has agreed to acquire Chorus.ai, a leader in Conversation Intelligence with the industry’s most advanced technology. Nowadays, Chorus has the ability to automatically detect warning signals in deals, enabling timely intervention to mitigate risks.

AI potential for sales intelligence is incredible, despite the overlapping meaning of the technologies and some challenges for mature adoption. Realizing the immense transformative power of AI in sales necessitates a comprehensive grasp of its capabilities. The Gartner 2021 CSO Priorities Pulse Survey reveals that 88% of chief sales officers (CSOs) have already invested in or are considering investing in AI analytics tools and technologies.

First Bridge observes the following trend: as the AI market developed, a clear separation into two layers can be seen. The initial layer (L1) formed under the influence of tech giants who had unparalleled access to data including private data and sufficient resources to process public data including intellectual property. Second layer (L2) solution, on the other hand, will utilize simpler and more cost-effective models tailored to specific needs to focus on real-time data and specific tasks, which impacts the sales intelligence industry as well, because the global sales intelligence market is also characterized by differences in the industry-specific needs. Additionally, L2 requires simpler and more cost-effective models tailored to specific needs. While tighter regulations may come into effect, L2 can leverage the advancements made by L1 without violating regulations, paving the way for future developments in AI.

When considering the benefits of AI in improving business outcomes, it's important to be aware of common challenges that can impede successful implementation. These challenges include selecting appropriate use cases, ensuring high data quality, and prioritizing employee upskilling. If a business is going to be involved in AI investment, implementation, or management, it is worth paying attention to:

• Sales intelligence companies shall think about the process of onboarding and launching new features and bringing these new features to their customers.
• Clients have to think about the quality of their data and what kind of data might be used to train proprietary neural networks and simplify the processes.