Report : North America Lead Generation Solution Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering (Software and Services) and Enterprise Size (SMEs and Large Enterprises)
Software Segment to Dominate North America Lead Generation Solution Market During 2021–2028
According to a new market research study on “North America Lead Generation Solution Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Offering and Enterprise Size” is expected to reach US$ 3,618.21 million by 2028 from US$ 1,224.68 million in 2021. The market is estimated to grow at a CAGR of 16.7% from 2021 to 2028. The report provides trends prevailing in the North America lead generation solution market along with the drivers and restraints pertaining to the market growth. Growing scope of education sector and increasing count of internet users are the major factor driving the growth of the North America lead generation solution market. However, less awareness about lead generation tools hinders the growth of North America lead generation solution market.
In case of COVID-19, North America is highly affected especially the US. The economic growth was slowed, which directly impacted various trading activities across the region. By the end of 2020, the US witnessed 140,000 job losses, and unemployment rate stood at 6.7%, clearly indicating that the economy was faltering. One of the biggest impacts of COVID-19 on the B2B industry was the cancellations of in-person meetings and trade shows. eMarketer highlights, a survey from Demand Gen Report in 2020, stated that almost 53% of US B2B marketers see trade shows and in-person meetings as an effective approach to drive the conversion of leads. Since number of trade shows and personal meetings decreased, this has had significant impacts on lead generation as well as sales. On the other hand, limited workforce strength, owing to the imposition of strict containment measures, led to rise of online meetings through platforms such as Zoom, Google Meet, and Cisco. Thus, lead generation software and services helped these online platforms to generate leads for many big and small companies. Decreased demand in sectors such as real estate, travel, and automotive hampered the market growth of lead generation software and services in North America. However, post-pandemic, the lead generation solution market is anticipated to see a promising growth.
The North America lead generation solution market is bifurcated based on offering, enterprise size, and country. Based on offering, the market is segmented into software and services. The software segment accounted for a larger share of North America lead generation solution market in 2020 and services segment is expected to be fastest growing during forecast period. In terms of enterprise size, the market is segmented into small and medium size enterprises (SMEs) and large enterprises. The large enterprises segment dominated the North America lead generation solution market in 2020 and small and medium size enterprise (SMEs) segment is growing at highest CAGR considering enterprise size. Based on country, the market is segmented into the US, Canada, and Mexico.
agilecrm.com; Belkins Inc.; Bitrix, Inc.; callboxinc.com; Cience Technologies; Cloudtask; DemandWorks Media; HubSpot, Inc.; Leadfeeder; Martal Group; PureB2B; TechTarget; and WebiMax.com are among the leading companies in the North America lead generation solution market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, HubSpot, the customer relationship management (CRM) platform for scaled businesses, is expanding its toolkit. The new product is intended to revolutionize the role of operations professionals in the corporate world, allowing them to take the lead in assisting their organizations in scaling.
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