Corporate Training Market

Introduction of the Corporate Training Market Report

Corporate training can be defined as a system of activities that are designed to educate employees in an organization. It helps employees as well as employers in obtaining knowledge and skills to progress professionally and personally, build loyalty in a company, and boost the performance of employees.

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Market Dynamic

Key Drivers and Emerging Trends

Growing business sector across the world coupled with the rise in the number of working population, diversity in learning requirements at the workplace, and increasing inclination of companies towards enhancing the skills of employee mainly for higher employee retention and ROI are some of the major factors propelling the growth of the corporate training market size. Moreover, according to a survey by LinkedIn, 94% of employees stated that they would stay at a company longer if the company invested in their development and 90% of top management believe that investing in the career development of employees is a positive requirement for the growth of the company. This is projected to offer huge growth opportunities to the global corporate training market size in the coming years. Furthermore, technological advancement, and the emergence of IoT, artificial intelligence, mobile applications, video conferencing, e-learning, and wearable devices is further expected to boost the size of corporate training market owing to their benefits including, time efficiency, convenience of anytime and anywhere training for employees via web-based training, better monitoring of trainee performances, and real-time feedback of trainees.

Restraint in the Corporate Training Market

However, the outbreak of the COVID-19 pandemic is expected to restraint the corporate training market growth owing to the huge number of job losses and budget constraints in corporate sectors across the globe. Moreover, high cost of employee training programme for small and medium sized company may further hamper the market.

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Method – Segment Analysis

Based on method, the synchronous corporate training market is expected to account for a high share owing to the benefit of simultaneous participation of all learners, live classroom sessions, on the job coaching, web-based classes, and webinars. Moreover, personal engagement between trainee and instructors in real time learning environment is further accelerating the market growth.

Type – Segment Analysis

Based on type, the soft skills training segment is anticipated to grow at a prominent CAGR during the forecast period. This can be attributed to the growing demand of better interpersonal skills, emotional intelligence, teamwork skill, critical thinking, and creativity in organization. Additionally, soft skill helps in improving work-life balance of employees, building a better team at work, bringing new clients, and improving customer service, which is anticipated to boost the market growth.

Industry – Segment Analysis

Based on the industry, the IT & technology segment is projected to hold a major share in the market primarily due to the rapidly growing IT industry, constant development of advanced technologies, and increasing demand for highly skilled employees in the technology-based companies. According to the U.S. Bureau of Labor Statistics, the employment in computer and information technology occupations is projected to grow 11% from 2019 to 2029, which thereby expected to drive the demand for corporate training.

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Regional – Segment Analysis:

Based on region, North America is expected to account for a major share in the market share owing to the rising healthcare, manufacturing, retail, information technology sectors in the region. Moreover, according to the U.S. Bureau of Labor Statistics, employment is projected to grow by 6.0 million jobs from 2019 to 2029 in U.S. This is likely to stimulate the demand of corporate training over the forecast period.

Top Market Players

Several Leading players operating in the market, include, Adobe Inc., Cisco Systems, Inc., City & Guilds Group, D2L Corporation, Franklin Covey Co., GP Strategies Corporation, John Wiley & Sons Inc., NIIT Limited, EdCast, Inc., and Wilson Learning Worldwide, Inc. among others. 

Key Developments:

• • In 2020, John Wiley and Sons Inc., one of the leading companies in research and education, acquired Madgex, a provider of advanced job board software and career center services.
  • EdCast Inc. acquired Leapest, an online marketplace for corporate training with 5,000 learning products and a focus on high-tech upskilling .This is expected to enhance the learning, training and knowledge management service of the company.

Segments covered in the Report:

The global corporate training market has been segmented on the basis of technology, application, vertical, and key regions. Based on method, the market is segmented into synchronous, asynchronous, and hybrid training. Based on the type, the market is segmented into brand training, compliance training, new employee hire training, sales training, safety training,  product and services training, technical skills development training, soft skills training, and others, Based on industry, the market is segmented into IT &technology, manufacturing, management, healthcare, government, recruitment, consumer electronics, financial services, business & professional services, and others. 

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Key questions answered in this research report:

• • At what pace is global Corporate Training Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Corporate Training Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Corporate Training Market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various industries of global Corporate Training Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Method, By Type, By Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Adobe Inc., Cisco Systems, Inc., City & Guilds Group, D2L Corporation, Franklin Covey Co., GP Strategies Corporation, John Wiley & Sons Inc., NIIT Limited, EdCast, Inc., and Wilson Learning Worldwide, Inc., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Corporate Training Market by Method

• • Synchronous
  • Asynchronous
  • Hybrid Training

Global Corporate Training Market by Type

• • Brand Training
  • Compliance Training
  • New Employee Hire Training
  • Sales Training
  • Safety Training
  • Product and Services Training
  • Technical Skills Development Training
  • Soft Skills Training
  • Others

Global Corporate Training Market by Industry

• • IT & Technology
  • Manufacturing
  • Management
  • Healthcare
  • Government
  • Recruitment
  • Consumer Electronics
  • Financial Services
  • Business & Professional Services
  • Others

Global Corporate Training Market by Region

• • North America Corporate Training Market (Option 1: As a part of the free 25% customization)
    • North America Market by Method
    • North America Market by Type
    • North America Market by Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Corporate Training Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Method
    • Europe Market by Type
    • Europe Market by Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Corporate Training Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Method
    • Asia-Pacific Market by Type
    • Asia-Pacific Market by Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Corporate Training Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Method
    • RoW Market by Type
    • RoW Market by Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Corporate Training Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Adobe Inc.
  • Cisco Systems, Inc.
  • City & Guilds Group
  • D2L Corporation
  • Franklin Covey Co.
  • GP Strategies Corporation
  • John Wiley & Sons Inc.
  • NIIT Limited
  • EdCast, Inc.
  • Wilson Learning Worldwide, Inc.