Partner Relationship Management Market worth $1,997 million by 2026
The report "Partner Relationship Management Market by Component (Solutions (Engage, Collaborate, and
Manage) and Services (managed and training, consulting, and integration)), Deployment Type, Organization Size,
Vertical, and Region - Global Forecast to 2026", size is expected to grow from USD 920 million in 2020 to USD 1,997
million by 2026, at a Compound Annual Growth Rate (CAGR) of 13.8% during the forecast period. The key factors
that are expected to drive the growth of the market are need to control the functional relationship between
organizations and external partner channels and focus on the enhancement of partner communication and
reduction in channel management costs.
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Solutions segment to hold a larger market size during the forecast period
Based on solutions, the PRM market is segmented into engage, collaborate, and manage. These solutions assist
end users in managing partners with ease and improve the overall operational performance. They also enable
companies to identify, recruit, and secure new channel partners; maintain channel partner relations; monitor
channel partner compliance; and measure channel partner performance and revenue. Moreover, they help
organizations to reduce costs and improve efficiency while working with their partners.
SMEs segment to grow at the highest CAGR during the forecast period
SMEs have a low marketing budget and often lack resources and capabilities for effective marketing orchestration.
With limited budgets, SMEs try to scale up their business through cost-effective techniques to generate maximum
RoI from their spending. The intense competitive market scenario has encouraged the SMEs to invest in PRM
solutions and services, and grow their partner networks. To restore economies affected by the COVID-19
pandemic, countries across the globe are launching financial packages. For instance, the US