The global sales coaching software market was worth US$ 47.6 Billion in the year 2022 and is expected to reach US$ 88.7 Billion by the year 2032 at a CAGR of 6.4% between 2022 and 2032.
The present scenario is such that AI could be used for evaluating conversations and identifying when the sales representatives are struggling big time for discussing a solution/talking about the key topics; thereby prompting the other talking points on the basis of evidence.
The post-pandemic era has brought in a ‘new normal’ – that of remote working environment. Coaches could render effective coaching through coaching software. It does record audio and video of meetings. As such, managers could re-watch meetings from across the globe and still provide helpful advice to representatives in the organizations.
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It is interesting to learn that even though certain tools are especially designed for usage in sales coaching software; certain sales software solutions could perform the task of coaching or upskilling sales professionals as a part of comprehensive sales enablement solution.
The employees could also make use of this software if they intend viewing past communications with client for complying with rising demand to review past conversations. AI is helping live feeds in making performance evaluations all the more objective.
At the same time, the fact that employees easily forget the training imparted can’t be ignored. This factor is expected to restrain the sales coaching software market going forward.
Future Market Insights has entailed these facts with future prospects in its latest market study entitled ‘Sales Coaching Software Market’. It has its line of expertise in the form of analysts and consultants to execute using a bottom-up approach in its primary, secondary, and tertiary modes of research.
“With organizations turning out to be more inclined toward digital coaching tools, the global sales coaching software market is expected to go great guns in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Sales Coaching Software Market
- North America holds the largest market share with the US being subject to diverse programs doled out by IT companies along with flexible modules. Also, a noticeable percentage of learners are into shifting in the direction of mobile-based IT learning. This facilitates accessing information anytime as well as anywhere on devices.
- Europe holds the second-largest market share on the similar grounds, followed by the Asia-Pacific and the scenario is expected to remain unchanged even in the forecast period.
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Competitive Coaching Software
- Percepyx, in February 2022, completed acquisition of Cultivate (a leading employee listening and people analytics platform). As an outcome of this agreement, the former’s feedback and active listening platform was combined with the latter’s leading passive listening and digital coaching products; thereby rendering appropriate experience that does away with gap between action and signal.
- Second Nature, in January 2022, did announce that it had closed Series A round of funding at US$n12.5 Million. Zoom Video Communications, Inc. have led the Zoom Apps Fund with the signals Venture Capital, Cardumen Capital, and StageOne Ventures.
- com, in January 2022, completed acquisition of the WBECS (World Business and Executive Coach Summit), which is a renowned learning event for the professional coaches along with being a leading educational platform to fins, track, manage, and evaluate coaches.
- Seismic (a sales enablement platform), in September 2021, did acquire Lessonly (a training and coaching platform) for providing sellers with the training programs, practice situations, and coaching plans. Moreover, Series G funding worth US$ 170 Million got closed with the acquisition.
- Mindtickle, in August 2021, did raise an extra US$ 100 Million in Series E round of funding that is led by SoftBank Vision Fund II. Such start-ups’ estimated worth is over US$ 1 Billion each.
- Korsgaden, in December 2021, entered into partnership with Allego for providing sales training services to clients.
What does the Report coach about?
- The research study is based on type (web-based and cloud-based), and application (SMEs and large enterprises).
- With growing adoption of CRM (Customer Relationship Management) software providing sales enablement tools for facilitating efficient collaboration with sales representatives, the global sales coaching software market is bound to grow on an ardent note in the forecast period”, says an analyst from Future Market Insights.
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Key Segments Covered in the Sales Coaching Software Market Study
Sales Coaching Software by Type:
- Cloud-based Sales Coaching Software
- Web-based Sales Coaching Software
Sales Coaching Software Market by Application:
- Sales Coaching Software for Large Enterprises
- Sales Coaching Software for SMEs
Sales Coaching Software Market by Region:
- North America Sales Coaching Software Market
- Europe Sales Coaching Software Market
- Asia Pacific Sales Coaching Software Market
- Middle East and Africa Sales Coaching Software Market
- Latin America Sales Coaching Software Market
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