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Product-based sales training market size to grow by USD 2,385.09 million between 2022 and 2027; Growth driven by increased emphasis on cost-effective training methods - Technavio


NEW YORK, March 31, 2023 /PRNewswire/ -- The product-based sales training market size is expected to grow by USD 2,385.09 million at a CAGR of 7.11% from 2022 to 2027, according to the latest research report from Technavio. The market is driven by the increased emphasis on cost-effective training methods. Companies are shifting toward the use of online and blended learning to achieve cost-effectiveness and avail other benefits. Online and blended courses are inexpensive compared to classroom-based learning. These courses eliminate costs associated with traveling and relocation. Moreover, these methods establish coordination among teams that are spread across multiple locations. Many such benefits are increasing the adoption of online and blended learning courses among end-users, which is driving the growth of the market. Discover market potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report 

The report on the product-based sales training market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis. The report identifies increased emphasis on cost-effective training methods as one of the major factors driving the growth of the market.

The product-based sales training market is segmented by end-user (consumer goods, BFSI, automotive, and others), learning method (blended training, online training, and ILT), and geography (North America, South America, Europe, APAC, and Middle East and Africa).

The market will witness significant growth in the consumer goods segment during the forecast period. The consumer goods industry is evolving quickly, as many companies are constantly adapting to changes in consumer behavior and preferences. In addition, the rapidly growing consumer base and the need for efficient delivery channels are driving the growth of the segment.

APAC will account for 35% of the market growth during the forecast period. The increasing number of small and medium businesses (SMBs) and multinational corporations (MNCs) and the rising demand for cost-effective training are driving the growth of the regional market. The increase in the number of startups and local players is also fueling the growth of the product-based sales training market in APAC.

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Download a Sample Report

The product-based sales training market covers the following areas:

Companies Mentioned

The global product-based sales training market is fragmented, with the presence of many international and regional players that offer innovative, technologically advanced training solutions. Regional and international players equally represent the market. The market has recorded the entry of many new players contributing significantly to revenue generation. Established players are investing heavily in developing and strengthening their training offerings to ensure higher employee retention and improve brand recognition. They are also collaborating with emerging startups to gain access to new products and expand their product portfolios.

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Product-based Sales Training Market Scope

Report Coverage

Details

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

USD 2,385.09 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

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., Wilson Learning Worldwide Inc., Allen Communication Learning Services, and ASLAN Training and Development LLC

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition 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.

Browse through Technavio's Consumer Discretionary Market Reports

Key Topics Covered:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Market Segmentation by Learning Method

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio


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