GVR Report cover Sales Training Software Market Size, Share & Trends Report

Sales Training Software Market Size, Share & Trends Analysis Report By Deployment (On-premise, Cloud), By Enterprise Size (Large, Small & Medium), By End-use (IT & Telecom, BFSI), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-981-0
  • Number of Pages: 120
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2020
  • Industry: Technology

Report Overview

The global sales training software market size was valued at USD 1.92 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 14.0% from 2022 to 2030. The industry growth can be attributed to the rising corporate competition and changing business needs. Small- & Medium-scale Enterprises (SMEs) & large-scale companies are regularly investing in the training of their sales and other teams. Furthermore, the rising adoption of Customer Relationship Management (CRM) software, which provides sales enablement tools to facilitate efficient collaboration with other sales representatives, is creating robust growth opportunities. The COVID-19 pandemic adversely impacted the industry in the first three quarters of 2020.

U.S. sales training software market size, by enterprise size, 2020 - 2030 (USD Million)

However, the industry experienced notable growth from early 2021 due to a shift in focus of end-use companies on accelerating their product sales and increasing their customer base, along with relaxed safety measures by governments. Various end-use companies are focusing on intense advertising and marketing of their products to increase their net sales and stay competitive in their respective sector, supporting the industry trend. The established associations from various end-use sectors, such as automotive, healthcare, retail & e-commerce, and logistics & transportation, are organizing sales training programs to create awareness about the industry-specific products.

For instance, in March 2022, the National Automobile Dealers Association (NADA) and the Center for Sustainable Energy and Plug in America jointly announced a new sales training program for Electric Vehicle (EV) dealers. The Alliance for Automotive Innovation, a key automotive association, has implemented a sales training program at EV dealers across the U.S. With the help of sales training software, the trained sales representatives can efficiently represent the company’s product and address all consumer queries, creating a positive market outlook. The sales training software comprises learning courses, exercises & quizzes, automated action plans, analytics dashboards, and various sales coaching tools.

The players are focusing on mergers and acquisitions to enrich their service offerings and customer base. For instance, in October 2021, Salesforce, Inc. announced the acquisition of LevelJump, a sales enablement solution provider company. The acquisition allowed Salesforce, Inc. to integrate LevelJump’s cutting-edge, outcome-based coaching and enablement into the Sales Cloud interface, thereby facilitating better engagement and having a verifiable influence on the sales process. Advancements in emerging technologies, such as Artificial Intelligence (AI), big data analytics, and cloud computing, are creating robust growth opportunities for the industry. AI integration in businesses offloads sales tasks and enables sales managers to develop strategies for generating more leads.

Furthermore, sales representatives can better identify the prospects who are likely to buy from them. In May 2022, Convin launched an AI-based selling platform for all sizes of businesses to engage customers with sales simulating features by understanding the core of sales conversations. This platform allowed sales representatives to interact with prospects via multiple channels, automate conversation analysis, help them sell more effectively, and increase agent productivity while improving the overall customer experience. A key factor restricting industry growth is high initial costs.

The software development process for sales training software is costly as the provider needs to hire expert engineers and implement advanced testing & assessment tools. The industry players are adopting various business strategies to reduce the costs of sales training software. These players are focusing on understanding the exact client requirements and accordingly designing the software to control other excess costs incurred for obsolete features. They are also focusing on mergers & acquisitions to improve their service product portfolios and technological expertise, which allow them to reduce software prices.

Deployment Insights

The cloud-based deployment segment accounted for the largest share of 51.2% of the overall revenue in 2021. The increasing popularity of cloud-based software owing to its enhanced reliability and greater adaptability than on-premise software is expected to create a positive outlook for the segment. The growth of the segment is also attributed to the low maintenance costs of cloud-based deployment and its ability to provide remote coaching. Cloud service providers are introducing innovations in their cloud platforms to attract various sales training software companies and increase their industry share. For instance, in September 2021, Salesforce, Inc. updated its Sales Cloud Platform with new features, such as subscription management, revenue intelligence, and sales enablement, to assist its clients’ sales team in accelerating product sales.

The on-premise deployment segment is expected to register the fastest CAGR during the forecast period. The demand for on-premise customer relationship management solutions can be attributed to the increased need for data privacy. With on-premise deployment, sales training software data or course content are uploaded on specific systems, such as hard drives and other devices, which are available at a single click from any device with valid identification. According to a SelectHub customer relationship management buyer survey in 2019, several enterprise groups use CRM systems for sales process automation and sales reporting preferring on-premise deployment over cloud-based deployment. The remarkable increase in organizational investments in sales training solutions is expected to drive segment growth during the forecast period.

Enterprise Size Insights

The large enterprise segment dominated the global industry in 2021 and accounted for the maximum share of more than 63.00% of the overall revenue. The significant growth can be attributed to the shifting focus of large enterprises toward adopting sales training software to strengthen their growth prospects. Sales training software solutions assist them in designing the roadmap and implementing their strategies more efficiently and effectively. These software solutions also help in the management of sales performance via goal setting, planning and feedback, skill development, and performance analysis, enhancing the industry statistics.

Sales training software ensures that large organizations manage their sales representatives efficiently, which is expected to further supplement the growth of this segment during the forecast period. The SMEs segment is expected to register the fastest CAGR during the forecast period due to the increased use of sales training software and sales enablement tools by SMEs to improve the proficiency of their sales representatives in delivering the company's value proposition in a persuasive and concise manner to potential audiences. Sales training software assists SMEs in forecasting and meeting quotas by focusing on processes and providing innovative tools to sales individuals and management personnel. It is also used to track information about territories, sales quotas, incentive compensation, and job forecasting.

End-use Insights

The retail segment acquired the largest revenue share of 20.5% in 2021. The rising preference of retail companies for sales training software for effective management of sales operations and to remain competitive in the retail sector is driving segment growth. The adoption of sales performance management and training software allows retail businesses to save a significant amount of time spent on training new and old sales employees while allowing employees career up-gradation and upskilling opportunities. For instance, in March 2020, Docebo, a learning management solution provider, expanded its partnership with IGA Coca Cola Institute, supported by Coca Cola company, to provide LMS services to food retailers globally. With this extended partnership, the company would use Docebo’s AI-powered extended training system for over 10,000 grocers and plans to reach more than 250,000 learners in the upcoming years.

Global sales training software market share, by end-use, 2021 (%)

The IT & telecom segment is expected to register a significant CAGR during the forecast period. Customer churn has been a major challenge for telecom sales professionals, as it is one of the vital factors promoting telecom operators to spend more on retaining their most profitable customers. The shifting focus of IT & telecom companies toward sales training platforms to decrease the customer churn rate is expected to propel the segment growth. With the help of various sales performance management software, these companies can leverage software solutions to automate and operationalize challenges, such as designing & model effective sales compensation plans, motivating & sales performance, and managing change for products and plans.

Regional Insights

North America dominated the global industry in 2021 and accounted for the maximum revenue share of 42.8%. The region’s growth can be attributed to the availability of diverse programs offered by Information Technology (IT) companies, coupled with flexible modules. Furthermore, a significant percentage of learners are rapidly shifting toward mobile-based IT learning. This enables them to access information anywhere and anytime on their devices. Moreover, growing business opportunities and consistent upgrading of technologies have positively influenced regional market growth. Major companies in the U.S. are investing in sales training and performance management software to meet customers’ expectations.

Sales Training Software Market Trends by Region

Furthermore, the software lowers the time spent on repetitive work and increases the time spent on employee relationship-building and engagement initiatives. Asia Pacific is anticipated to grow rapidly from 2022 to 2030. Several SMEs operating in Asia Pacific are focusing on gaining a competitive advantage through better customer service using sales enablement platforms, and improving the industry statistics. The growing implementation of advanced technologies, such as Artificial Intelligence (AI) and Machine Learning (ML), for sales enablement platforms has significantly propelled the growth of these platforms in Indian and Chinese markets. Due to the growing corporate competition and continuously changing business needs, large and small enterprises in India have been encouraged to introduce new things regularly. This is helping key players in the region to establish new trends in the market.

Key Companies & Market Share Insights

Key players are investing in research & development activities to support growth and enhance their internal business operations. Companies are engaging in mergers & acquisitions and partnerships to further upgrade their products and gain a competitive advantage. They are effectively working on new product development, and enhancement of existing products to acquire new customers and capture more market share.

For instance, in December 2021, financial services provider, Korsgaden International, partnered with Allego to provide its sales training services. With this partnership, Korsgaden International will use Allego sales enablement platform to provide its consulting and training services to its clients, thereby enabling sales transformation for achieving the revenue goals in the continuously changing insurance and financial services industries. Businesses would also be able to access Korsgaden International’s extensive and cutting-edge agency-building training and consulting materials as part of the partnership. Some of the prominent companies operating in the global sales training software market include:

  • Allego

  • Brainshark, Inc.

  • Mindmatrix Inc.

  • Mindtickle Inc.

  • Qstream, Inc.

  • Salesforce, Inc.

  • SalesHood Inc.

  • SAP SE

  • Showpad

  • Zoho Corporation Pvt. Ltd.

Sales Training Software Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 2.14 billion

Revenue forecast in 2030

USD 6.11 billion

Growth rate

CAGR of 14.0% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company market share, competitive landscape, growth factors, and trends

Segments covered

Deployment, enterprise size, end use, region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil

Key companies profiled

Allego; Brainshark, Inc.; Mindmatrix Inc.;Mindtickle Inc.; Qstream, Inc.; Salesforce, Inc.; SalesHood Inc.; SAP SE; Showpad; Zoho Corporation Pvt. Ltd.

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase option

 

Global Sales Training Software Market Segmentation 

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global sales training software market report based on deployment, enterprise size, end-use, and region:

Global Sales Training Software Market Segmentation

  • Deployment Outlook (Revenue, USD Million, 2017 - 2030)

    • Cloud

    • On-premise

  • Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)

    • Large Enterprise

    • Small & Medium Enterprise

  • End-use Outlook (Revenue, USD Million, 2017 - 2030)

    • BFSI

    • Automotive

    • Retail

    • Healthcare

    • IT & Telecom

    • Discrete Manufacturing

    • Government & Education

    • Others (Hospitality, Consumer Goods, and Logistics & Transportation among others)

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

    • MEA

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