Sales Training and Onboarding Software Market Trends

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.