(MENAFN- PR Newswire) NEW YORK, Dec. 13, 2022 /PRNewswire/ -- Technavio categorizes the global product-based sales training market as a part of the education services market , the parent market. The education services market covers products, services, and solutions that are offered to educational institutions, corporate institutions, students, parents, individuals, and teachers. The
product-based sales training market
size is estimated to increase by USD
2385.09 million
from 2022 to 2027. The market's growth momentum will accelerate at a CAGR of 7.11% .
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Global product-based sales training market -
Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –
Key purchase criteria Adoption rates Adoption lifecycle Drivers of price sensitivity
Global product-based sales training market– Vendor Analysis
Vendor Landscape -
The global product-based sales training market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer product-based sales training market are Allen Communication Learning Services, ASLAN Training and Development LLC, Brainshark Inc., CommLab India LLP, Cornerstone OnDemand Inc., Corporate Visions Inc., GMetri Inc., HubSpot Inc., Korn Ferry, Learning Technologies Group Plc, Meirc Training and Consulting LTD., RAIN Group, Richardson Sales Performance, Sales Training America Inc., SalesHood Inc. and others.
The global product-based sales training market is at its growing stage. This implies that the market in focus is characterized by an
increased emphasis on cost-effective training methods, a growing emphasis on microlearning, and the use of analytics in product-based sales training.
Vendor Offerings –
Allen Communication Learning Services:
The company offers product-based sales training such as new product knowledge, value selling skills, advanced sales leadership, channel sales enablement, and new sales executive training ASLAN Training and Development LLC:
The company offers product-based sales training such as inside sales, call center sales, and field sales. Brainshark Inc.:
The company offers product-based sales training such as sales leadership and customer service. CommLab India LLP:
The company offers product-based sales training such as classroom and e-learning training. Cornerstone OnDemand Inc.:
The company offers product-based sales training such as skills development and virtual training. For Details on vendors and their offerings –
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Global product-based sales training market
-
Segmentation Assessment
Geography Overview
Based on geography, the
global product-based sales training market
is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global product-based sales training market.
APAC will account for 35% of the market's growth during the forecast period.
The number of small and medium-sized businesses (SMBs), multinational corporations (MNCs), and the increased acceptance of cost-effective training are the main drivers influencing the market growth in the region.
Segment Overview
Based on end-user, the global product-based sales training market is segmented into consumer goods, BFSI, automotive, and others.
The market share growth of the consumer segment will be higher than the other segments during the forecast period. With the increased availability of consumer data, such as consumer purchase patterns and customer preferences, more businesses are turning to data analytics and artificial intelligence (AI) to provide actionable insights on sales training, which provides personalized training modules to sales personnel. The market
expansion is primarily attributed
to the increasing popularity of product-based sales training, which is fueled by an increase in demand for this sector globally.
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Global product-based sales training market
– Market Dynamics
Impactful Driver – The increased emphasis on cost-effective training methods is driving the growth of the market. Since the majority of the content is supplied online, online and blended courses are less expensive than classroom-based training. These online classes eliminate additional expenses like moving and travel expenses. Due to their flexibility and the growing prevalence of BYOD rules in businesses, online and blended learning sales training programs are generally less expensive than full-fledged training programs. During the projected period, these factors are anticipated to propel the market growth. Key Trend - The growing use of artificial intelligence in training is the key trend in the market. Due to the large amount of information available on the market, AI algorithms can quickly discover consumer purchasing habits and offer insights into the optimal sales strategy for client conversion and retention. Artificial intelligence (AI) can spot employee learning trends and, using adaptive learning, may make individualized learning paths for each employee's unique learning experiences. In turn, this helps sales management teams in businesses adjust and alter the training content to meet the demands of each individual sales representative.
Major Challenge - Budgetary
constraints are the major challenge in the market. The growing. Every organization has a set budget for training activities, but the
current solutions demand significant expenditures from the organization in the form of software, systems, and solutions. This drives up the high cost of training even further. For firms with tight budgets, the setup costs for setting up IT infrastructure and resources to undertake sales training are considerably greater. As a result, corporations are forced to reduce the level of general product knowledge and product-based sales training they provide to staff, which has a negative impact on the market's expansion.
Driver, Trends, & Challenges are the factors of market dynamics, which state about consequences & sustainability of the businesses. Find a few insights from a sample report!
What are the key data covered in this product-based sales training market report?
CAGR of the market during the forecast period Detailed information on factors that will drive the growth of the
product-based sales training market between 2023 and 2027 Precise estimation of the size of the product-based sales training market size and its contribution to the parent market Accurate predictions about
upcoming trends and changes in consumer behavior Growth of the product-based sales training industry across APAC, North America, Europe, Middle East and Africa, and South America A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth of product-based sales training market
vendors
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| Product-based Sales Training Market Scope |
| Report Coverage | Details |
| Page number | 174 |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2027 |
| Growth momentum & CAGR | Accelerate at a CAGR of 7.11% |
| Market growth 2023-2027 | $2385.09 million |
| Market structure | Fragmented |
| YoY growth 2022-2023 (%) | 6.1 |
| Regional analysis | APAC, North America, Europe, South America, and Middle East and Africa |
| Performing market contribution | APAC at 35% |
| Key countries | US, China, Japan, UK, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Allen Communication Learning Services, ASLAN Training and Development LLC, Brainshark Inc., CommLab India LLP, Cornerstone OnDemand Inc., Corporate Visions Inc., GMetri Inc., HubSpot Inc., Korn Ferry, Learning Technologies Group Plc, Meirc Training and Consulting LTD., RAIN Group, Richardson Sales Performance, Sales Training America Inc., SalesHood Inc., Sandler Systems Inc., Specialized Sales Systems, The Brooks Group, VirtualSpeech Ltd., and Wilson Learning Worldwide Inc. |
| Market dynamics | Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table Of Contents: 1 Executive Summary
1.1 Market Overview
Exhibit 01: Executive Summary – Chart on Market Overview Exhibit 02: Executive Summary – Data Table on Market Overview Exhibit 03: Executive Summary – Chart on Global Market Characteristics Exhibit 04: Executive Summary – Chart on Market by Geography Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user Exhibit 06: Executive Summary – Chart on Market Segmentation by Learning Method Exhibit 07: Executive Summary – Chart on Incremental Growth Exhibit 08: Executive Summary – Data Table on Incremental Growth Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million) Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million) Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%) Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global product-based sales training market 2017 - 2021 Exhibit 18: Historic Market Size – Data Table on Global product-based sales training market 2017 - 2021 ($ million)
4.2 End-user Segment Analysis 2017 - 2021
Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
4.3 Learning method Segment Analysis 2017 - 2021 Exhibit 20: Historic Market Size – Learning method Segment 2017 - 2021 ($ million)
4.4 Geography Segment Analysis 2017 - 2021
Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
4.5 Country Segment Analysis 2017 - 2021
Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by End-user
6.1 Market segments
Exhibit 30: Chart on End-user - Market share 2022-2027 (%) Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)
6.2 Comparison by End-user
Exhibit 32: Chart on Comparison by End-user Exhibit 33: Data Table on Comparison by End-user
6.3 Consumer goods - Market size and forecast 2022-2027 Exhibit 34: Chart on Consumer goods - Market size and forecast 2022-2027 ($ million) Exhibit 35: Data Table on Consumer goods - Market size and forecast 2022-2027 ($ million) Exhibit 36: Chart on Consumer goods - Year-over-year growth 2022-2027 (%) Exhibit 37: Data Table on Consumer goods - Year-over-year growth 2022-2027 (%)
6.4 BFSI - Market size and forecast 2022-2027 Exhibit 38: Chart on BFSI - Market size and forecast 2022-2027 ($ million) Exhibit 39: Data Table on BFSI - Market size and forecast 2022-2027 ($ million) Exhibit 40: Chart on BFSI - Year-over-year growth 2022-2027 (%) Exhibit 41: Data Table on BFSI - Year-over-year growth 2022-2027 (%)
6.5 Automotive - Market size and forecast 2022-2027 Exhibit 42: Chart on Automotive - Market size and forecast 2022-2027 ($ million) Exhibit 43: Data Table on Automotive - Market size and forecast 2022-2027 ($ million) Exhibit 44: Chart on Automotive - Year-over-year growth 2022-2027 (%) Exhibit 45: Data Table on Automotive - Year-over-year growth 2022-2027 (%)
6.6 Others - Market size and forecast 2022-2027 Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million) Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million) Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%) Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)
6.7 Market opportunity by End-user
Exhibit 50: Market opportunity by End-user ($ million)
7 Market Segmentation by Learning Method
7.1 Market segments
Exhibit 51: Chart on Learning Method - Market share 2022-2027 (%) Exhibit 52: Data Table on Learning Method - Market share 2022-2027 (%)
7.2 Comparison by Learning Method
Exhibit 53: Chart on Comparison by Learning Method Exhibit 54: Data Table on Comparison by Learning Method
7.3 Blended training - Market size and forecast 2022-2027 Exhibit 55: Chart on Blended training - Market size and forecast 2022-2027 ($ million) Exhibit 56: Data Table on Blended training - Market size and forecast 2022-2027 ($ million) Exhibit 57: Chart on Blended training - Year-over-year growth 2022-2027 (%) Exhibit 58: Data Table on Blended training - Year-over-year growth 2022-2027 (%)
7.4 Online training - Market size and forecast 2022-2027 Exhibit 59: Chart on Online training - Market size and forecast 2022-2027 ($ million) Exhibit 60: Data Table on Online training - Market size and forecast 2022-2027 ($ million) Exhibit 61: Chart on Online training - Year-over-year growth 2022-2027 (%) Exhibit 62: Data Table on Online training - Year-over-year growth 2022-2027 (%)
7.5 ILT - Market size and forecast 2022-2027 Exhibit 63: Chart on ILT - Market size and forecast 2022-2027 ($ million) Exhibit 64: Data Table on ILT - Market size and forecast 2022-2027 ($ million) Exhibit 65: Chart on ILT - Year-over-year growth 2022-2027 (%) Exhibit 66: Data Table on ILT - Year-over-year growth 2022-2027 (%)
7.6 Market opportunity by Learning Method
Exhibit 67: Market opportunity by Learning Method ($ million)
8 Customer Landscape
8.1 Customer landscape overview
Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
9.1 Geographic segmentation
Exhibit 69: Chart on Market share by geography 2022-2027 (%) Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
9.2 Geographic comparison
Exhibit 71: Chart on Geographic comparison Exhibit 72: Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2022-2027 Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%) Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)
9.4 North America - Market size and forecast 2022-2027 Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million) Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million) Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%) Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)
9.5 Europe - Market size and forecast 2022-2027 Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%) Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)
9.6 South America - Market size and forecast 2022-2027 Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ million) Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ million) Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%) Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)
9.7 Middle East and Africa - Market size and forecast 2022-2027
Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%) Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
9.8 US - Market size and forecast 2022-2027 Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million) Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million) Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%) Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)
9.9 China - Market size and forecast 2022-2027
Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ million) Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ million) Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%) Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)
9.10 UK - Market size and forecast 2022-2027 Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million) Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million) Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%) Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)
9.11 Japan - Market size and forecast 2022-2027 Exhibit 105: Chart on Japan - Market size and forecast 2022-2027 ($ million) Exhibit 106: Data Table on Japan - Market size and forecast 2022-2027 ($ million) Exhibit 107: Chart on Japan - Year-over-year growth 2022-2027 (%) Exhibit 108: Data Table on Japan - Year-over-year growth 2022-2027 (%)
9.12 Germany - Market size and forecast 2022-2027 Exhibit 109: Chart on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 110: Data Table on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 111: Chart on Germany - Year-over-year growth 2022-2027 (%) Exhibit 112: Data Table on Germany - Year-over-year growth 2022-2027 (%)
9.13 Market opportunity by geography
Exhibit 113: Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
10.3 Impact of drivers and challenges
Exhibit 114: Impact of drivers and challenges in 2022 and 2027
11 Vendor Landscape
11.2 Vendor landscape
Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 116: Overview on factors of disruption
11.4 Industry risks
Exhibit 117: Impact of key risks on business
12 Vendor Analysis
12.1 Vendors covered
Exhibit 118: Vendors covered
12.2 Market positioning of vendors
Exhibit 119: Matrix on vendor position and classification
12.3 Allen Communication Learning Services
Exhibit 120: Allen Communication Learning Services - Overview Exhibit 121: Allen Communication Learning Services - Product / Service Exhibit 122: Allen Communication Learning Services - Key offerings
12.4 ASLAN Training and Development LLC
Exhibit 123: ASLAN Training and Development LLC - Overview Exhibit 124: ASLAN Training and Development LLC - Product / Service Exhibit 125: ASLAN Training and Development LLC - Key offerings
12.5 Brainshark Inc.
Exhibit 126: Brainshark Inc. - Overview Exhibit 127: Brainshark Inc. - Product / Service Exhibit 128: Brainshark Inc. - Key offerings
12.6 CommLab India LLP
Exhibit 129: CommLab India LLP - Overview Exhibit 130: CommLab India LLP - Product / Service Exhibit 131: CommLab India LLP - Key offerings
12.7 Cornerstone OnDemand Inc.
Exhibit 132: Cornerstone OnDemand Inc. - Overview Exhibit 133: Cornerstone OnDemand Inc. - Product / Service Exhibit 134: Cornerstone OnDemand Inc. - Key offerings
12.8 Corporate Visions Inc.
Exhibit 135: Corporate Visions Inc. - Overview Exhibit 136: Corporate Visions Inc. - Product / Service Exhibit 137: Corporate Visions Inc. - Key offerings
12.9 GMetri Inc.
Exhibit 138: GMetri Inc. - Overview Exhibit 139: GMetri Inc. - Product / Service Exhibit 140: GMetri Inc. - Key offerings
12.10 Korn Ferry
Exhibit 141: Korn Ferry - Overview Exhibit 142: Korn Ferry - Business segments Exhibit 143: Korn Ferry - Key offerings Exhibit 144: Korn Ferry - Segment focus
12.11 Learning Technologies Group Plc
Exhibit 145: Learning Technologies Group Plc - Overview Exhibit 146: Learning Technologies Group Plc - Business segments Exhibit 147: Learning Technologies Group Plc - Key news Exhibit 148: Learning Technologies Group Plc - Key offerings Exhibit 149: Learning Technologies Group Plc - Segment focus
12.12 RAIN Group
Exhibit 150: RAIN Group - Overview Exhibit 151: RAIN Group - Product / Service Exhibit 152: RAIN Group - Key offerings
12.13 Richardson Sales Performance
Exhibit 153: Richardson Sales Performance - Overview Exhibit 154: Richardson Sales Performance - Product / Service Exhibit 155: Richardson Sales Performance - Key offerings
12.14 Sandler Systems Inc.
Exhibit 156: Sandler Systems Inc. - Overview Exhibit 157: Sandler Systems Inc. - Product / Service Exhibit 158: Sandler Systems Inc. - Key offerings
12.15 The Brooks Group
Exhibit 159: The Brooks Group - Overview Exhibit 160: The Brooks Group - Product / Service Exhibit 161: The Brooks Group - Key offerings
12.16 VirtualSpeech Ltd.
Exhibit 162: VirtualSpeech Ltd. - Overview Exhibit 163: VirtualSpeech Ltd. - Product / Service Exhibit 164: VirtualSpeech Ltd. - Key offerings
12.17 Wilson Learning Worldwide Inc.
Exhibit 165: Wilson Learning Worldwide Inc. - Overview Exhibit 166: Wilson Learning Worldwide Inc. - Business segments Exhibit 167: Wilson Learning Worldwide Inc. - Key offerings Exhibit 168: Wilson Learning Worldwide Inc. - Segment focus
13 Appendix
13.2 Inclusions and exclusions checklist
Exhibit 169: Inclusions checklist Exhibit 170: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 171: Currency conversion rates for US$
13.4 Research methodology
Exhibit 172: Research methodology Exhibit 173: Validation techniques employed for market sizing Exhibit 174: Information sources
13.5 List of abbreviations
Exhibit 175: List of abbreviations
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