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:
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.
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.
Corporate Visions Inc. - The company offers product-based sales training such as remote selling and high-velocity selling.
The corporate training market in US is expected to grow by USD 1.21 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.49%. The market is segmented by product (technical courses and non-technical courses), end-user (manufacturing, healthcare, BFSI, IT, and others), method (blended learning, offline learning, and online learning), and geography (US).
The corporate training market in Europe is expected to grow to USD 11.79 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.31%. The market is segmented by product (technical course and non-technical course) and geography (Western Europe, Nordic Countries, Southern Europe, and Central and Eastern Europe).
APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution
APAC at 35%
US, China, Japan, UK, and Germany
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
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.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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
13.1 Scope of the report
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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