The global sales training software market size is anticipated to reach USD 6.11 billion by 2030, registering a CAGR of 14.0% from 2022 to 2030, according to a new report by Grand View Research, Inc. The industry growth can be attributed to the paradigm shift in the focus of the incumbents of various end-use industries to reduce the time employees spend on repetitive tasks and devote the time saved to other customer engagement and relationship management activities. The sales training software can particularly help end-use enterprises in improving employee productivity, boosting product sales, and utilizing resources efficiently. Benefits associated with the adoption of such software include easy sales content creation and streamlined sales enablement.
The software also offers critical sales metrics measurements. Several organizations are looking to leverage advanced sales enablement solutions featuring technologies, such as Machine Learning (ML) & Artificial Intelligence (AI), to allow their sales and marketing teams more time to close deals and make connections. The AI-powered solution automates various tedious tasks in the sales training, such as generating analytics reports and drafting personalized content as per their interests, & business requirements. AI-driven sales training solutions offer sales teams easy mobile access to significant sales functions, which helps them achieve higher win rates and provide better experiences to prospects.
These advancements are expected to further boost the industry's growth during the forecast period. Key players are investing in R&D to develop innovative solutions to attract potential business clients and, thus, increase revenues. For instance, in October 2020, Highspot unveiled its sales enablement platform, which offers new sales training capabilities with a scorecard function for holistic evaluation and assessment of the sales personnel. The platform allows managers to create and manage virtual sales programs easily and train the sales team to meet sales targets. Managers can also obtain detailed insights into the performances of the sales personnel via a 360-degree analytics report.
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The cloud-based segment is expected to grow significantly from 2022 to 2030. Various companies are focusing on migrating their sales training software to a cloud platform to reduce maintenance costs and increase the revenue stream
For instance, in April 2022, RAIN GROUP, a sales training company, collaborated with ValueCore, a cloud-based ROI platform company, to enable sales & marketing companies to represent entrancing value propositions to their customers
The SME segment is expected to observe a rapid CAGR during the forecast period as SMEs are adopting sales training software to train their marketing & sales representatives to improve their brand identity worldwide in a minimum time
The IT & telecom segment is anticipated to experience notable growth during the forecast period as the IT & telecom companies are focusing on increasing the customer retention rate through effective marketing & sales strategy
Asia Pacific is expected to register the fastest CAGR from 2022 to 2030 due to the increasing focus of end-use firms on sales training and enablement platforms to convert maximum leads into customers and stay competitive in their respective industries
Grand View Research has segmented the global sales training software market based on deployment, enterprise size, end-use, and region:
Sales Training Software Deployment Outlook (Revenue, USD Million, 2017 - 2030)
Sales Training Software Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)
Small & Medium Enterprise
Sales Training Software End-use Outlook (Revenue, USD Million, 2017 - 2030)
IT & Telecom
Government & Education
Others (Hospitality, Consumer Goods, and Logistics & Transportation among others)
Sales Training Software Regional Outlook (Revenue, USD Million, 2017 - 2030)
Middle East & Africa
List of Key Players of Sales Training Software Market
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