Lead Generation Solution Market New Growth Prospectus with 17.5% of CAGR by 2028 - Cloudtask, HubSpot, Inc., Leadfeeder, WebiMax.com, Martal Group

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.

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.

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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.

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.

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