The sales training and onboarding software market is expected to increase at a CAGR of 8.2% from USD 4.4 billion in 2022 to USD 9.6 billion through 2032. The increased use of product-based sales training in big and medium-sized enterprises is the primary growth driver for the sales training and onboarding software market.
The sales training and onboarding software market has grown due to an increased focus on cost-effective training techniques, increased internet usage, and improvements in online sales training programs. Furthermore, better customer service, stronger leadership, and a refined sales strategy are predicted to take the sales training and onboarding software market forward. Budgetary restraints and a lack of knowledge among small businesses, on the other hand, may limit the expansion of the sales training and onboarding software market.
The market growth for sales training and onboarding software is also stimulated by businesses’ adoption of new technology to save paperwork. Software for onboarding new employees helps businesses lower their human costs. Additionally, the company offers its employees flexible working hours and a work-life balance. The widespread adoption of automation by businesses contributes to the growth of the sales training and onboarding software industry. Software for onboarding new employees helps them quickly and easily adjust to the atmosphere of the firm.
The United States, Europe, Asia Pacific, and the Rest of the World are the four geographic segments that make up the market for sales training and onboarding software. The sales training and onboarding software market was led by the United States, then by Europe, APAC, South America, and MEA.
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KEY TAKEAWAYS:
- The cloud-based category in the type sector of the sales training and onboarding software market is expected to grow at a CAGR of 8.1% through 2032.
- The large enterprises in the application segment of the sales training and onboarding software market are increasing at a CAGR of 7.9% through 2032.
- The sales training and onboarding software market in the United States is expected to reach US$ 3.4 Billion by 2032, growing at a CAGR of 8% through 2032.
- By 2032, the UK’s sales training and onboarding software market is predicted to be valued at US$ 398.7 Million, with a CAGR of 7.2% through 2032.
- With a CAGR of 7.7% through 2032, China’s sales training and onboarding software market is predicted to reach US$ 697.2 Million by 2032.
- By 2032, the market for sales training and onboarding software in Japan is estimated to be worth US$ 566.2 Million, growing at an annual rate of 6.7% through 2032.
- With a CAGR of 5.8% throughout the forecast period, South Korea is predicted to reach a market size of US$ 328.6 Million in sales training and onboarding software by 2032.
COMPETITIVE LANDSCAPE:
The top key players of the sales training and onboarding software market include Showpad, MindTickle, Lessonly, Allego, Brainshark, Bridge, LevelJump, SalesHood, Qstream, TalentLMS, Mindmatrix, PointForward, and CommercialTribe.
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RECENT DEVELOPMENT:
Acquisitions:
In November 2019, Launchways and Rippling established a partnership to help clients streamline their HR and IT tasks. As a result of this partnership, customers will gain access to a consolidated software layer and a wide range of service options.
Partnerships:
In September 2018, LumApps and ProcessMaker established a partnership. The partnership was established in order to develop collaborative solutions that integrate LumApps’ established capability to engage employees and centralise all internal communications with ProcessMaker’s straightforward process automation.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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