Product-based Sales Training Market: Driver
The increased emphasis on cost-effective training methods is driving the growth of the product-based sales training market. Corporate organizations are shifting to online and blended formats in product-based sales training, which costs less than classroom-based training. These courses also eliminate other costs such as travel costs and relocation costs. In addition, these methods of training offer extended support and establish coordination among teams based in multiple locations, thus providing a centralized model of training.
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Product-based Sales Training Market: Challenge
The budgetary constraints will challenge the product-based sales training market during the forecast period. Vendors with low budgets are unable to provide technologically advanced training such as blended learning formats. Moreover, these solutions require high investments in purchasing software, systems, and solutions, which further adds to the high cost of training. The setup costs incurred on setting up IT infrastructure and resources in place to implement sales training are comparatively higher for organizations with limited budgets. Such budgetary constraints and inadequate funding have a negative impact on the growth of the market.
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Product-based Sales Training Market: Segmentation Analysis
This report segments the product-based sales training market by end-user (consumer goods, automotive, BFSI, and others), learning method (blended training, online training, and ILT), and geography (APAC, North America, Europe, South America, and MEA).
By geography, APAC led the product-based sales training market in 2021, followed by North America, Europe, South America, and MEA, respectively. During the forecast period, APAC is expected to register the highest market growth due to factors such as the rise in the number of small and medium businesses (SMBs) and multinational corporations (MNCs) and the increased adoption of cost-effective training. Market growth in APAC will be faster than the growth of the market in other regions. Australia and Singapore are the key countries for the product-based sales training market in APAC.
By end-user, the consumer goods segment will have significant market share growth during the forecast period. This sector is evolving quickly, as many companies are working on keeping up with the changes in consumer behavior and preferences. This results in a rapidly growing consumer base and the need for efficient delivery channels. Consumer goods companies are focusing on expanding their global presence. Such end-user expansions can increase the demand for the training of the sales force and drive the growth of the market.
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Product-based Sales Training Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.41% |
Market growth 2021-2025 |
USD 1.66 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.97 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 36% |
Key consumer countries |
US, UK, Australia, Germany, and Singapore |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Allen Communication Learning Services, ASLAN Training and Development LLC, Brainshark Inc., Corporate Visions Inc., DoubleDigit Sales Inc., Korn Ferry, Learning Technologies Group Plc, RAIN Group, Sandler Systems Inc., and The Brooks Group |
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, 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. |
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Consumer goods - Market size and forecast 2020-2025
- Automotive - Market size and forecast 2020-2025
- BFSI - Market size and forecast 2020-2025
- Others - Market size and forecast 2020-2025
- Market opportunity by End-user
Market Segmentation by Learning method
- Market segments
- Comparison by Learning method
- Blended training - Market size and forecast 2020-2025
- Online training - Market size and forecast 2020-2025
- ILT - Market size and forecast 2020-2025
- Market opportunity by Learning method
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Allen Communication Learning Services
- ASLAN Training and Development LLC
- Brainshark Inc.
- Corporate Visions Inc.
- DoubleDigit Sales Inc.
- Korn Ferry
- Learning Technologies Group Plc
- RAIN Group
- Sandler Systems Inc.
- The Brooks Group
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Technavio
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.
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SOURCE Technavio
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