Lead Generation Solution Market to Grow at a CAGR of 17.5% to reach US$ 9,589.11 Million from 2021 to 2028

The 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.

The education sector is growing rapidly all over the world, including developing as well as developed countries. Education institutes offering primary education, higher education, graduation courses, post-graduation courses, etc., need suitable and capable candidates that can prosper the name of their institutes. A lead generation software helps in sourcing, tracking, verifying, and prioritizing the potential leads for various schools and colleges. The process of lead generation is based on parameters such as grades, scholarships, awards, and extracurricular performance. Lead generation software companies acquire these data through their primary and secondary research, and the potential leads are approached accordingly. The lead generation services and software are proving as a boon for many new and upcoming coaching classes, schools, and colleges.

Lead generation solutions are increasingly being used by online coding institutes, which are increasing in number. High popularity and awareness about distance learning is another factor that boosts the demand for lead generation solutions. Employees working 5 days a week are approached by respective institutes for certification programs whose training and teaching sessions are conducted on weekends. Lead generation services help such institutes in approaching candidates whose conversion probability is considerably high. Advanced lead generation software can also suggest suitable course for such candidates on the basis of their qualification and preferences. Potential leads are approached via cold calling, messaging, e-mails, and other respective media. This advanced method of lead generation is feasible and time-saving and delivers desired results.

Impact of COVID-19 Pandemic on Lead Generation Solution Market

The North American market had suffered considerable economic losses in the first two quarters of 2020, owing to high count of COVID-19 cases, especially in 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.

Lucrative Regions for Lead Generation Solution Providers

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Lead Generation Solution Market Insights

Rising Count of Internet Users in Developing Countries Fuels Growth of Lead Generation Solution Market

With the continuous developments in internet infrastructure and growing reach of the internet, the count of internet users is increasing rapidly in developing countries in Asia and Africa. Moreover, with the growth in the technology sector, the penetration of mobile phones and computers has also risen significantly. Lead generation software requires information such as name, address, bank credentials, specific preferences, and educational qualification of the candidates being sourced. With the surge in access to internet, the number of people responding to various online feedback processes and participating in surveys has also increased, voluntarily sharing their information. Primitive credentials can be recorded whenever users are subscribing or downloading any mobile app. Data collected from internet in the form of questionnaires is discrete, which makes its processing and analysis easy and accurate. Collected facts, details, and specifics are useful for mobile network operators, small retail stores, food apps, and various online e-commerce websites. Based on internet data usage and call duration, different mobile network operators can offer specific plans for the particular segment of customers. As per the surveys submitted by consumers, small retail stores can generate leads by informing potential customers about latest schemes and offers. Also, many food apps can use lead generation services to increase their users. Based on the searches for different products and services, lead generation software assists e-commerce websites in identifying potential lead for the particular searched product. Thus, surge in the number of internet users, especially in developing countries, is accelerating the growth of the lead generation solution market.

Offering - Based Market Insights

Based on offering, the lead generation solution market is bifurcated into software and services. In 2020, the software segment accounted for a larger share in the market.

Lead Generation Solution Market, by Offering, 2020 and 2028 (%)

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Enterprise Size - Based Market Insights

Based on enterprise size, the lead generation solution market is segmented into SMEs and large enterprises. In 2020, the large enterprises segment accounted for a larger market share.

Strategic Insights

The players operating in the lead generation solution market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

• In April 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.
• In September 2020, Leadfeeder introduced a new integration relationship with Zapier. With our new Zapier Leadfeeder Integration, Leadfeeder customers can now send new leads to a CRM, Google Sheets, Trello, or any of the other hundreds of apps Zapier smoothly connects with.

The global lead generation solution market has been segmented as mentioned below:

By Offering

• Software
• Services

By Enterprise Size

• SMEs
• Large Enterprises

By Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe

• Asia Pacific (APAC)

  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC

• Middle East & Africa (MEA)

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

• South America (SAM)

  • Brazil
  • Argentina
  • Rest of SAM

Company Profiles

• Agile CRM Inc.
• Belkins Inc.
• Bitrix, Inc.
• Cience Technologies
• Cloudtask
• HubSpot, Inc.
• Leadfeeder
• WebiMax.com
• Martal Group
• callboxinc.com.