Sales Training Software Market Share, Size, Trends, Industry Analysis Report, By Deployment (On-premise and Cloud); By Enterprise Size; By End-Use; By Region; Segment Forecast, 2023 - 2032
- Published Date:May-2023
- Pages: 118
- Format: PDF
- Report ID: PM3292
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global sales training software market was valued at USD 2.12 billion in 2022 and is expected to grow at a CAGR of 13.9% during the forecast period. The paradigm shift in the focus of incumbents of large number of end-use industries including retail, transport, BFSI, and IT & telecom to mitigate or reduce the average employee time spend on the repetitive tasks and could focus on saved time to several other customer engagement and management activities, are among the key factors expected to fuel the growth of the market.
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Moreover, growing awareness regarding the benefits associated with the adoption of various types of software including easy sales content creation and extremely streamlined sales enablement and introduction to several new innovative solutions by major players are creating significant growth opportunities for the sales training software market.
For instance, in November 2022, iFuture Technologies, introduced exclusive corporate training program in Mumbai, that ensures growth based soft skills. Company is highly committed to provide quality training with creatives, latest, & the analytical techniques, that help them to reach their desired goals.
Moreover, the rapidly growing advancements in the major emerging technologies including artificial intelligence, big data analytics, machine learning, and cloud computing and continuous rise in the integration of these technologies in businesses offloads sales tasks and further enable sales managers for the development of strategies for getting more leads. These types of platforms allow sales representatives for interacting with the prospects through multiple channels and automate conversation analysis, which helps them in improving the overall customer experience.
Outbreak of the COVID-19 pandemic has significantly impacted the growth of the market. The emergence of the deadly coronavirus has forced many countries to impose lockdowns within their countries in order to regulate the spread of the pandemic. Due to these restrictions, companies and their manufacturing facilities were temporarily closed and global demand and supply were severely halted, as many business operations and activities affected during the pandemic.
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Industry Dynamics
Growth Drivers
Growing number of small and large enterprises across the globe and continuous growth in the software product industry in highly developed countries like US, UK, and France coupled with the emerging trend of e-learning, as these features an integrated learning management system, which automates sales related training and coaching are among the primary factors likely to fuel the growth of the global market.
Furthermore, increasing government support through several reimbursement and development policies and widespread adoption of customer relationship management technology, mainly due to its ability to provide sales enablement tools to facilitate the collaboration with many other sales representatives along with this, the established associations from several industries who are organizing sales training programs for creating awareness regarding specific-industry products, which is further augmenting the market.
Report Segmentation
The market is primarily segmented based on deployment, enterprise size, end-use, and region.
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By Deployment |
By Enterprise Size |
By End-Use |
By Region |
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Cloud-based segment accounted for the largest market share in 2022
The growth of the segment can be largely attributed to growing popularity of cloud-based software due to its highly enhanced reliability and greater adaptability as compared to others along with the rising prevalence of its ability to provide remote coaching effectively at lower maintenance costs. In addition, various major cloud service providers across the globe are highly focusing on introducing innovations in their solutions basically to attract the sales training software companies, which is influencing the growth of the segment market.
On-premise segment is expected to grow at fastest growth rate during the anticipated period, which is mainly driven increasing demand for various innovative on-premise customer relationship management solutions due to high need for efficient data privacy. In the recent years, the remarkable growth in the organizational investments on the development of sales training solutions, which in turn, fueling the demand and growth of the segment market in the coming years.
Small & medium enterprise segment is expected to witness highest growth
Small & medium enterprise segment is expected to grow at fastest growth rate during the forecast period, on account the continuous rise in the use of advanced software enablement tools by large number of SMEs especially in the emerging economies like India and China with an aim to enhance their sales representatives proficiency in delivering the company’s value proposition. These types of software helps SMEs in forecasting and meeting quotas through focusing on several processes and to provide innovative tools and is being widely used to track several critical information.
The large enterprises segment held the majority market revenue share, on account of growing focus on various large enterprises on the adoption of innovative training software for strengthening their market growth aspects by assisting them in designing the roadmap and implementation of their strategies more effectively.
Retail segment held the significant market share in 2022
The retail segment held the significant market revenue share, which is highly attributable to high prevalence for effective software solutions among retail companies for the effective management of their sales operations and consolidate their market position. The increasing adoption of these software among these organizations, allow these businesses to save their time and money spent on training and old sales employees and further allow employees in the upgradation of their career.
The IT & Telecom segment is likely to expand at considerable growth rate over the coming years. The change in focus of major IT companies towards the sales training platforms for minimizing the customer churn rate and leveraging these types of solutions to automate and operationalize several changes including designing & model effective sales, motivating & sales performance, and managing change for products and plans.
North America region dominated the global market in 2022
North America region dominated the global market. The regional market growth can be largely attributed to quick adoption of advanced technologies and significantly growing number of learners opting for mobile-based IT learning and presence of some of the world leading technology enabled companies in countries like US and Canada. Additionally, increasing business opportunities and consistent upgradation of technologies and heavily growing investment of companies, in order to meet the surging customer expectations, that is likely to fuel the growth and demand of the market.
Asia Pacific region is expected to emerge as fastest growing in the market with significant growth rate over the forecast period, which is mainly accelerated by increasing number of SMEs and high prevalence for adoption of effective training solutions to offer better customer service by using these enablement platforms. High implementation of newly developed technologies like artificial intelligence and machine learning for their sales, has significantly propelled the market growth.
Competitive Insight
Some of the major players operating in the global sales training software market include Salesforce, Zoho Corporation, SalesHood, Mindmatrix, SAP SE, Brainshark, Showpad, Mindtickle, Commercial Tribe, Qstream Inc., Allego, Level Jump, Point Forward, TalentMS, and Lessonly.
Recent Developments
- In October 2022, Corporate Visions, introduced innovative skills training program. The new program is mainly designed for the renewing & expanding existing customers. Account managers learn to reinforce incumbent advantage grow their customers.
- In August 2022, Salesloft, introduced its new revolutionary new coaching capability, that would help sales managers to effectively coach their team through putting critical information. It a unique training technique that provides a powerful and single view, through which managers can immediately see key trends and recommendations.
Sales Training Software Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 2.40 billion |
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Revenue forecast in 2032 |
USD 7.74 billion |
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CAGR |
13.9% from 2023– 2032 |
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Base year |
2022 |
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Historical data |
2019– 2021 |
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Forecast period |
2023– 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments covered |
By Deployment, By Enterprise Size, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Salesforce Inc., Zoho Corporation Pvt. Ltd., SalesHood Inc., Mindmatrix Inc., SAP SE, Brainshark Inc., Showpad Inc., Mindtickle Inc., Commercial Tribe, Qstream Inc., Allego, Level Jump, Point Forward, TalentMS, and Lessonly. |
FAQ's
key companies in sales training software market are Salesforce, Zoho Corporation, SalesHood, Mindmatrix, SAP SE, Brainshark, Showpad, Mindtickle, Commercial Tribe, Qstream Inc.
The global sales training software market expected to grow at a CAGR of 13.9% during the forecast period.
The sales training software market report covering key segments are deployment, enterprise size, end-use, and region.
key driving factors in sales training software market are increasing government support through several reimbursement and development policies.
The global sales training software market size is expected to reach USD 7.74 billion by 2032.
