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Product-based Sales Training Market by End-user, Learning Method, and Geography - Forecast and Analysis 2021-2025

  • Published: Dec 2021
  • Pages: 120
  • SKU: IRTNTR40439
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The product-based sales training market share is expected to increase by USD 1.66 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.41%. 

This product-based sales training market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers product-based sales training market segmentation 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). The product-based sales training market report also offers information on several market vendors, including 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 among others.

What will the Product-based Sales Training Market Size be During the Forecast Period?

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Product-based Sales Training Market: Key Drivers and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increased emphasis on cost-effective training methods is notably driving the product-based sales training market growth, although factors such as budgetary constraints may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the product-based sales training industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Product-based Sales Training Market Driver

One of the key factors driving growth in the product-based sales training market is the increased emphasis on cost-effective training methods. Corporate organizations are increasingly shifting to online and blended formats in product-based sales training owing to their cost-effectiveness and other benefits. Online and blended courses are less costly than classroom-based training as most of the content is provided online. Moreover, these online 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 that are dispersed or based in multiple locations, thereby providing a centralized model of training, which enables salespeople to brush up on critical materials and skills to prepare for customer presentations on demand.

Key Product-based Sales Training Market Challenge

The budgetary constraints will be a major challenge for the product-based sales training market during the forecast period. Every organization has a limited budget allotted to training activities. In the case of some SMBs, the funds set aside by the company are so minimal that vendors are unable to provide quality sales training to their employees using modern technological advances such as visual technologies and blended learning formats. Moreover, these modern solutions require the organization to make huge investments in purchasing software, systems, and solutions, which adds further 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. Thus, such budgetary constraints and inadequate funding force companies to compromise on the overall product knowledge and product-based sales training offered to employees, thereby having a negative impact on the growth of the market.

This product-based sales training market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Product-based Sales Training Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 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

 

This statistical study of the product-based sales training market encompasses successful business strategies deployed by the key vendors. The product-based sales training market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The product-based sales training market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Product-based Sales Training Market?

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36% of the market’s growth will originate from APAC during the forecast period. Australia and Singapore are the key markets for product-based sales training in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The rise in the number of small and medium businesses (SMBs) and multinational corporations (MNCs) and the increased adoption of cost-effective training will facilitate the product-based sales training market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Product-based Sales Training Market?

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The product-based sales training market share growth by the consumer goods segment will be significant during the forecast period. The consumer goods sector is evolving quickly as many companies work to keep up with the changes in consumer behavior and preferences, thereby resulting 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.

This report provides an accurate prediction of the contribution of all the segments to the growth of the product-based sales training market size and actionable market insights on post COVID-19 impact on each segment.

 

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

$ 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.

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What are the Key Data Covered in this Product-based Sales Training Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive product-based sales training market growth during the next five years
  • Precise estimation of the product-based sales training market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the product-based sales training industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of product-based sales training market vendors

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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

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The product-based sales training market growth will increase by $1665.14 million during 2020-2025.
The product-based sales training market is expected to grow at a CAGR of 5.41% during 2020-2025.
Technavio has segmented the product-based sales training market by end user (Consumer goods, Automotive, BFSI, and Others) ,other1 (Blended training, Online training, and ILT) , and geographic (APAC, North America, Europe, South America, and MEA).
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 are a few of the key vendors in the product-based sales training market.
APAC will register the highest growth rate of 35.64% among the other regions. Therefore, the product-based sales training market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the product-based sales training market growth are:
  • Increased emphasis on cost-effective training methods
The product-based sales training market vendors should focus on grabbing business opportunities from the consumer goods segment as it accounted for the largest market share in the base year.
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