LONDON--(BUSINESS WIRE)--The global product-based sales training market 2018-2022 is expected to post a CAGR of close to 13% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is growing emphasis on microlearning. The concept of microlearning enables organizations and vendors to offer training in bite-sized formats. Microlearning or bite-sized learning allows sales representatives to engage in just-in-time training in certain specific skills or content, thus providing them with the right product knowledge at the right time. Microlearning can be offered in on various formats, which are suitable for various training requirements.
This market research report on the global product-based sales training market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing use of artificial intelligence in training as one of the key emerging trends in the global product-based sales training market:
Global product-based sales training market: Growing use of artificial intelligence in training
Owing to the steady rise in technologically enhanced training modules, the concept of machine learning (ML), and artificial intelligence (AI) is gaining traction in the global product-based sales training market. The emergence of vast amounts of data from multiple social platforms and sources offers companies more information on preferences of companies. Companies are increasingly using this data to optimize the selling process and offer training to the salesperson as well as to manufacturing and product design teams to come up with new products.
“Due to the abundance of data in the market, AI algorithms can easily identify the purchase patterns of customers and provide insights into the best sales approach that can be used for customer retention. In terms of product-based sales training, AI can identify employee learning patterns, and through adaptive learning can create personalized learning paths for individual learning experiences. This, in turn, aids the sales management in companies to tailor and adapt the training content as per the needs of each individual sales representative, thereby driving the motivational level of the employees and resulting in higher knowledge retention rates,” says a senior analyst at Technavio for research on education technology.
Global product-based sales training market: Segmentation analysis
This market research report segments the global product-based sales training market by learning method (blended training, online training, and ILT), end-user (consumer goods sector, automotive sector, BFSI sector, and other sectors), and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of close to 38%, followed by APAC and EMEA respectively. The region is expected to continue to dominate the market during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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