(MENAFN- GlobeNewsWire - Nasdaq) The sales training software market has seen a remarkable surge due to the growing necessity for organizations to enhance their competencies.Pune, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Sales Training Software Market Size Analysis:
“ The Sales Training Software Market size was USD 2.37 billion in 2023 and is expected to reach USD 7.82 billion by 2032, growing at a CAGR of 14.27% over the forecast period of 2024-2032. ”
Growing Demand for Sales Training Software Driven by Upskilling, E-Learning, and Industry Expansion
The sales training software market has experienced rapid growth and is projected to continue expanding due to the increasing need for advanced training solutions. With the increasing need of upskilling and reskilling in sales teams across the retail, finance, healthcare, and technology sectors, the demand for these platforms increases. As businesses look to address skill gaps and maintain competitiveness, sales training software also gains popularity. E-learning is far more efficient and economical than classroom-based learning. Companies are investing more in sales training with a great return on investment basis; thus, for long-term success, it remains a valuable tool.
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Major Players Analysis Listed in this Report are:
Allego (Allego Sales Learning Platform, Allego Sales Coaching) Brainshark, Inc.. (Brainshark Sales Enablement, Brainshark Video Coaching) Mindmatrix Inc. (Mindmatrix Sales Enablement, Mindmatrix Partner Relationship Management) Mindtickle Inc. (Mindtickle Sales Readiness, Mindtickle Onboarding) Qstream, Inc. (Qstream Sales Coaching, Qstream Sales Training) Salesforce, Inc. (Salesforce Sales Cloud, Salesforce Trailhead) SalesHood Inc. (SalesHood Sales Enablement, SalesHood Content Sharing) SAP SE (SAP SuccessFactors, SAP Sales Cloud) Showpad (Showpad Sales Enablement, Showpad Content Management) Zoho Corporation Pvt. Ltd. (Zoho CRM, Zoho SalesInbox) Microsoft (Microsoft Dynamics 365 Sales, Microsoft Viva Learning) Skillsoft (Skillsoft Sales Training, Skillsoft Leadership Development) Trainual (Trainual Onboarding, Trainual Sales Training) DocuSign (DocuSign Agreement Cloud, DocuSign CLM) Oracle (Oracle Sales Cloud, Oracle Learning Management) PandaDoc (PandaDoc Document Automation, PandaDoc Proposal Management) Korn Ferry (Korn Ferry Sales Effectiveness, Korn Ferry Leadership Development) Sandler Training (Sandler Sales Training, Sandler Coaching and Mentoring) Huthwaite International (Huthwaite SPIN Selling, Huthwaite Sales Training Programs) Harvard Business Publishing (Harvard Business Review Sales Training, Harvard Business Publishing Leadership Development)
Sales Training Software Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 2.37 Billion |
| Market Size by 2032 | US$ 7.82 Billion |
| CAGR | CAGR of 14.27 % From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | . Increasing Focus on Upskilling and Reskilling Sales Teams to Align with Changing Market Demands and Buyer Expectations
. Adoption of Artificial Intelligence and Machine Learning Technologies Enhances Personalization and Efficiency in Sales Training Programs |
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Segment Analysis
By Enterprise Size
The large enterprise segment accounted for the majority of the sales training software market revenue in 2023, making up 63% of the market share. Large enterprises usually invest in the most advanced sales training platforms to meet the needs of their large sales teams. These organizations usually require scalable, comprehensive solutions that integrate AI-driven personalization, immersive learning, and detailed analytics.
The small and medium enterprise (SME) segment is growing at the fastest rate, with a projected CAGR of 15.61%. SMEs are opting for low-cost, cloud-based sales training that can help them maximize the performance of their sales teams with fewer resources. Low-cost, easy-to-use solutions like Zoho and HubSpot have emerged in the market as companies are offering platforms tailored to the specific needs of SMEs, such as CRM integration, gamification, and mobile learning.
By End-Use
The retail segment was the largest contributor to the sales training software market in 2023, holding a 22% share. This dominance is because of the focus placed on improving the customer experience and driving sales conversion by the success of workforce development. Major retail players like Walmart and Amazon use AI-driven sales training software to teach their sales teams more about products and how to better interact with customers.
The IT and telecom sector is expected to see the highest growth, with a projected CAGR of 17.01% over the forecast period. The complexity of selling technical solutions, combined with the fast-paced nature of technology, makes effective training crucial in this sector. Microsoft and Cisco, among others, are at the forefront of embracing advanced training tools that incorporate AI-based skill assessments and immersive learning simulations.
Sales Training Software Market Segmentation:
By Deployment
By Enterprise Size
By Training Delivery Mode
E-Learning Platforms Virtual Instructor-Led Training Blended Learning
By End-Use
BFSI Automotive Retail Healthcare IT & Telecom Discrete Manufacturing Government Education Others
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Key Regional Development
North America has remained the dominant region in the sales training software market, capturing an estimated market share of 42% in 2023. This is also a result of the significant concentration of major software providers such as Salesforce, HubSpot, and Cornerstone OnDemand within this region. In addition, North America hosts some of the mature digital infrastructures as well as faster adoption rates for advanced technologies, including AI, machine learning, and VR.
The Asia Pacific region is emerging as the fastest-growing market for sales training software, with a projected CAGR of 16.8%. This growth is mainly due to the rapid digital transformation happening in countries like India, China, and Southeast Asia. As the region's SMEs continue to grow, they are increasingly embracing cloud-based training solutions that provide cost-effective workforce development options.
Recent Developments
In March 2024, Mindmatrix Inc., a leader in Partner Relationship Management (PRM) and sales ecosystem solutions, introduced significant updates to its PRM platform, Bridge. These improvements are designed to enhance businesses' ability to manage channel partnerships and sales ecosystems effectively. In April 2023, Mindtickle Inc. secured $50 million in Series C funding to enhance its sales training software platform. The funds will support the expansion of Mindtickle's sales and marketing teams and enable further platform enhancements to meet the growing demand for advanced sales training solutions.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Sales Training Software Market Segmentation, By Training Delivery Mode
8. Sales Training Software Market Segmentation, By Enterprise Size
9. Sales Training Software Market Segmentation, By Deployment Mode
10. Sales Training Software Market Segmentation, By End-Use
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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