The global lead generation solution market is expected to grow from US$ 3,103.80 million in 2021 to US$ 9,589.11 million by 2028; it is estimated to grow at a CAGR of 17.5% during 2021–2028.
In developing as well as developed economy, the finance and insurance sector is growing rapidly on a large scale. Rising per capita disposable income has led to increase in impulsive buying. As income has increased, various banks as well as nonbanking financial institutes and finance firms are willing to give loans for various purposes. Vehicle loan, education loan, personal loan, home loan, agriculture loan, gold loan, etc., are the types of loans offered to customers. Along with this, health insurance, vehicle insurance, term insurance, travel insurance, property insurance, etc., are the insurance types offered by insurance companies. Companies and firms can make use of lead generation software and services for approaching relevant customers with high conversion probability. The lead generation software and services help in collecting and generating leads based on parameters such as past loan history, credit score, salary, income, and assets. Based on various statistics and figures, companies can structure innovative plans and schemes for respective new segment of customers. For example, Proof is a lead generation software trusted by many upcoming SaaS companies, such as Appcues and ShipBob. It is capable of converting up to 300% more leads with its set of astonishing marketing tools. Hubspot’s Marketing Software helps in running successful campaigns, converting visitors to customers, and attracting only potential leads, thereby saving time wasted on every single visitor.
The lead generation solution market is segmented on the bases of offering, enterprise size, and geography. Based on offering, the market is bifurcated into software and services. The software segment represented a larger share of the overall market in 2020. In terms of enterprise size, the lead generation solution market is segmented into SMEs and large enterprises. In 2020, the large enterprises segment accounted for the substantial share of the market. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for the significant share in the global market.
Russia, France, Italy, Germany, Spain, and the UK are some of the worst hit countries in Europe, considering the count of COVID-19 cases. The region witnessed a significant decline in revenue from several industries as the government authorities imposed stringent containment measures. Owing to travel restrictions, movement of people from one place to another was reduced drastically. This hampered the demand for automobiles in Europe. European Automobile Manufacturers’ Association (ACEA) declared temporary closures of manufacturing sites because of supply shortages, collapsing demand, and various safety measures. Also, employees getting infected and staying in quarantine further contributed to less productivity of automobiles. All these developments directly affected the companies providing lead generation software and services for sales of various vehicles. Also, the demand for aftersales services such as vehicle insurance, maintenance, and repairs was reduced. However, people are getting more aware and conscious about health expenses, and thus, the requirement for medical insurance is rising notably. Hence, the demand for software and tools required to generate leads for medical insurance is predicted to grow in the region. Medical insurance companies can acquire qualified leads very quickly with the use of respective lead generation platforms. Post-pandemic, The lead generation solution market across Europe is estimated to grow for numerous applications.
The overall lead generation solution market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the lead generation solution market with respect to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions?North America, Europe, Asia Pacific, Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the lead generation solution market.
A few major players operating in the global lead generation solution market are Agile CRM Inc.; Belkins Inc.; Bitrix, Inc.; Cience Technologies; Cloudtask; HubSpot, Inc.; Leadfeeder; WebiMax.com; Martal Group; and callboxinc.com