General

• Based on survey data from 2016 to 2017, Statisita estimates that software market revenue in the US for 2020 will be $197.2 billion. This would include both the marketing and sales software, but would include many other types of software as well. However, it does provide an upper limit for the review.
• IBISWorld reported that the market size of CRM System Providers in the US was $26.4 billion in 2020. The global size of the market was valued at $55.314 billion in 2019.

Digital Marketing Software

• The global digital marketing software market size was $43.8 billion in 2019. This included CRM software, email marketing, social media, search marketing, content management, marketing automation, campaign management, and other. Unfortunately, the summary did not provide details on the US share of the market.
• Another market report found that the North American digital marketing software market would grow at a compound annual growth rate (CAGR) of 12.1% from 2017 to 2023. The US holds the largest share of the market in North America and is expected to grow at a CAGR of 13.7% during the same time period.

Sales Software

• The global sales intelligence market size is projected to be $3.8 billion by 2025. Using the CAGR of 12.3%, the 2020 market size can be estimated to be $2.1 billion ($3.8 billion/1.123^5). Although the breakout by regions was behind a paywall, it was reported that the CAGR for North America from 2019-2025 is expected to be 10.9%, below the global CAGR of 12.3%. Of note, this is only one segment of the sales software industry.
• As Salesforce, Oracle, Microsoft and other companies were listed as key players in both the marketing report and the sales report, it is likely there is overlap in the market sizes reported in the two reports.
• According to G2, the categories of sales software are CRM, AI Sales Assistants, Auto Dialers, Contract Analytics, Contract Lifecycle Management (CLM), Contract Management, Customer Revenue Optimization, E-Signature, Field Sales, Other Sales, Partner Management, Quote Management, Sales Acceleration, Sales Analytics, Sales Gamification, and Sales Intelligence.

Investment

• It was reported in early 2019 that private equity was spending a lot of money on cloud software, but none of the specific companies highlighted were sales and/or marketing software companies.

Summary of Findings

• Our initial research found that although some global data on the sales and marketing software industries was found, data specific to the US does not appear to be publicly available.
• We had very little time to examine the investments in the industry, but our initial search indicates that an overall amount may be difficult, if not impossible, to uncover. Rather, it is more likely that details on specific deals could be found, as well as an overview of the status of private investment in the industries of interest.
• Since both public and private companies were to be included in this evaluation, we focused on market size, rather than market cap, as determining market cap for private companies is an inexact science and depends on public disclosure of private stock sales, which is often not available.