Sales Training and Onboarding Software Market Size, Share, Growth, Trends, CAGR Value & Forecast To 2031

Major Macro-Economic Indicators Impacting the Market Growth

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

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Global Sales Training and Onboarding Software Market: Growth Drivers and Challenges

Growth Drivers

Increasing Number of Small and Large Enterprises Globally – The rising number of enterprises worldwide is estimated to fuel the adoption rate of sales training and onboarding software in the coming years. According to estimates, there were around 213 million companies globally in 2019, up from 205 million companies in 2018.
Growth of Software Product Industry – As per data by India Brand Equity Foundation, by the end of 2025, Indian software product industry is estimated to reach valuation of ~USD 100 Billion.
Rising Trend of E-Learning – Advanced Sales Training and Onboarding Software features an integrated Learning Management System that enables automated sales related training and coaching which saves companies time and cost. Such a factor is anticipated to boost the market segment in the coming years. As per estimates, e-learning requires approximately 38 to 58% less employee time as compared to learning through traditional methods.
Growing Adoption of CRM (Customer Relationship Management) Technology – According to estimates, more than 17% of the sales team's time is spent checking insights from CRM.
Rising Support Through Government Policies – According to the India Brand Equity Foundation, in the Union Budget of 2022-23, around USD 11.58 billion was allocated to the IT and Tele communication sector of India.

Challenges

Risk of Cyber Intrusion
Less Awareness about the Benefits of Sales Training and Onboarding Software in the Market
Availability of Alternate Open Source Sales Training and Onboarding Software

The sales training and onboarding software market is segmented and analyzed for demand and supply by deployment type into cloud based and on-premise. Out of these segments, cloud based segment is estimated to garner the largest market share over the forecast period, backed by the rising adoption of cloud-based deployment model among enterprises. As per estimates, around 100 zettabytes (a trillion gigabytes) of data is projected to be stored on cloud by the end of 2025. In addition, in China, total cloud infrastructure spending in 2020 was around ~USD 18 billion, up from ~USD 11 billion in 2019. Such a factor is therefore anticipated to fuel the segment growth during the forecast period.

Global Sales Training and Onboarding Software Market Regional Synopsis

Regionally, the global sales training and onboarding software market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is projected to hold the largest market share by the end of 2031. This can be accredited to the increasing growth of cloud-based industry along with rising adoption of advanced technology by organizations in the region. According to estimates, cloud spending in the United States is projected to reach ~USD 89 billion by the end of 2022, i.e. an increase of 27% compared to 2021.

Further, the market in the Asia Pacific is estimated to gain the significant incremental growth during the forecast period, backed by the rising adoption of cost-effective sales training methods along with increasing number of SMEs and MNC (Multinational Companies) in the region. As per estimates, in India, there is about 40,000 MNCs with approximately 2,50,000 overseas affiliates. In addition, emerging economies like India and China are on a path to become more digital along with this increasing government support, rising foreign direct investments and growing adoption of technologies are some of the other key factors estimated to drive the market growth in the region.

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The global sales training and onboarding software market is further classified on the basis of region as follows:

North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global sales training and onboarding software market includes the following segments:

By Deployment Type	Cloud Based
By Deployment Type	On-premise
By Enterprise Size	Large Enterprises
	Medium Enterprises
	Small Enterprises
By Industry Verticals	Marketing & Advertising
	Retail & Consumer Goods
	Healthcare
	Travel & Hospitality
	IT & Telecommunication
	Banking Financial Services & Insurance
	Education
	Media & Entertainment
	Others

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Top Featured Companies Dominating the Global Sales Training and Onboarding Software Market

PointForward Software
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis

Mindmatrix Inc.
Epignosis Group of Companies
Qstream Inc.
SalesHood Inc.
LevelJump Software Corp. (Salesforce Inc.)
Brainshark, Inc. (Bigtincan Mobile Pty Ltd)
Allego, Inc.
MindTickle, Inc.
Showpad Inc

In The News

LevelJump Software Corp., a sales enablement and readiness solution built entirely on Salesforce's platform, is today acquired by Salesforce, Inc. Salesforce is a global market leader in the customer relationship management domain, with this acquisition Salesforce will incorporate LevelJump's technology into its Sales Cloud interface and facilitate enhanced engagement in the sales process.
SalesHood Inc., today launched the SkillsHood enablement platform that focuses on onboarding and ongoing learning with prescriptive learning paths. It also aims to increase employee productivity by enhancing the way employees learn, coach and collaborate in their organization. Moreover, it automates the message alignment process and scales organizational readiness for all distributed and remote employees.

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the sales training and onboarding software market?

Ans: Growing number of small & large enterprises and increasing trend of e-learning to train employees is expected to boost the growth of the market.

2) What would be the CAGR of sales training and onboarding software market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2031.

3) What are the challenges affecting the sales training and onboarding software market growth?

Ans: Risk of cyber intrusion and open source availability of alternate sales training and onboarding software are estimated to challenge the market growth.

4) Which region will provide more business opportunities for growth of sales training and onboarding software market in future?

Ans: The market in North America is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.

5) Who are the major players dominating the sales training and onboarding software market?

Ans: The major players in the market are Mindmatrix Inc., Epignosis Group of Companies, Qstream Inc., SalesHood Inc., LevelJump Software Corp. , Brainshark, Inc., Allego, Inc., MindTickle, Inc., Showpad Inc and PointForward Software.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the sales training and onboarding software market?

Ans: The market is segmented by deployment type, enterprise size, industry verticals and by region.

8) Which segment captures the largest market size in deployment type segment in the sales training and onboarding software market?

Ans: The cloud-based segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.