Partner Relationship Management Market Worth $180.01 Billion By 2028
Partner Relationship Management Industry Overview The global partner relationship management market size was valued at USD 54.82 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 16.2% from 2021 to 2028. The rising popularity of connected devices and the Internet of Things (IoT) is anticipated to drive the demand for Partner Relationship Management (PRM). Furthermore, the need to control the functional relationship between external partner channels and organizations and focus on improving partner communications and reducing channel management costs will support the market for partner relationship management. However, data privacy and security threats are projected to hinder market growth. In the first half of 2020, the market witnessed a significant negative impact due to the spread of the COVID-19 virus. The manufacturing units were temporarily closed due to the lockdown restrictions imposed by various governments globally. However, the dema...