The global corporate training market was valued at $332,931.1 million in 2019, and is projected to reach $487,305.7 million by 2030, registering a CAGR of 8.0% from 2021 to 2030. Corporate training, which is also known as workplace learning, is a method to improve the skills, work performance, and efficiency of an employee. There are training methods offered for the development of employees. Corporate training helps in advancing the skills sets of employees including communications, negotiation skills, technical skills, and others. There are many online as well as offline training centers that provide essential training to the employees.
Rise in learning requirement at the workplace across the globe and rise in concept of micro-learning boosts the corporate training market growth. Moreover, growing use of gamification for training employees further fuels the growth of the market. However, budgetary concern of corporate sectors is expected to hamper the growth of the market. Nevertheless, emergence of cost-effective e-learning training modules and emergence of internet of things (IOT) and wearable devices are anticipated to offer immense opportunities for the market growth, in terms of value sales, during the forecast period.
The global corporate training market segment is categorized on the basis of training method, training program, industry, and region. By training method, the corporate training market is classified into virtual and face-to-face. By training program, it is divided into technical training, soft skills training, quality training, compliance training and other training programs.
By industry, it is categorized into FMCG/retail, pharmaceutical and healthcare, financial services, professional services, public enterprises, information technology, and other industries. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the report include Bizlibrary, GP Strategies Corporation, Franklin Covey Co., City & Guilds Group, D2L Corporation, Cornerstone Ondemand Inc., Wilson Learning Worldwide Inc., Allen Communications Learning Services, Simplilearn Solutions, and Skill Soft.
Rise in learning requirement at the workplace across the globe and rise in concept of micro-learning boosts the corporate training market growth. Moreover, growing use of gamification for training employees further fuels the growth of the market. However, budgetary concern of corporate sectors is expected to hamper the growth of the market. Nevertheless, emergence of cost-effective e-learning training modules and emergence of internet of things (IOT) and wearable devices are anticipated to offer immense opportunities for the market growth, in terms of value sales, during the forecast period.
The global corporate training market segment is categorized on the basis of training method, training program, industry, and region. By training method, the corporate training market is classified into virtual and face-to-face. By training program, it is divided into technical training, soft skills training, quality training, compliance training and other training programs.
By industry, it is categorized into FMCG/retail, pharmaceutical and healthcare, financial services, professional services, public enterprises, information technology, and other industries. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the report include Bizlibrary, GP Strategies Corporation, Franklin Covey Co., City & Guilds Group, D2L Corporation, Cornerstone Ondemand Inc., Wilson Learning Worldwide Inc., Allen Communications Learning Services, Simplilearn Solutions, and Skill Soft.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global corporate training market from 2021 to 2030 to identify the prevailing market opportunities.
- The key countries in four major regions are mapped based on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry. Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
- The report includes the analysis of the regional as well as global market, key players, market segments, and growth strategies.
Key Market Segments
By Training Program
- Quality Training
- Compliance
- Others Training Program
- Technical Training
- Soft Skills
By Industries
- Retail
- Pharmaceutical And Healthcare
- Financial Services
- Professional Services
- Public Enterprises
- Information Technology
- Others Industries
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Australia And New Zealand
- Asean
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Turkey
- Rest of LAMEA
Key Market Players
- allen communication learning services
- Business Training Library, Inc.
- City and Guilds International Limited
- Cornerstone OnDemand, Inc.
- D Two L
- Franklin Covey Co.
- GP Strategies Corporation
- Simplilearn Solutions
- skillsoft
- Wilson Learning Worldwide, Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CORPORATE TRAINING MARKET, BY TRAINING PROGRAM
CHAPTER 5: CORPORATE TRAINING MARKET, BY INDUSTRIES
CHAPTER 6: CORPORATE TRAINING MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Corporate training Market,' the corporate training market size was valued at $332.9 billion in 2019, and is estimated to reach $487.3 billion by 2030, growing at a CAGR of 8% from 2021 to 2030.Corporate training is a method to improve the skill sets including work performance, productivity, efficiency, and others of an employee. There are different training methods offered for the development of corporate employees, which include virtual and face-to-face training method. It helps employees to enhance their skill sets such as communications, negotiation skills, leadership skills, technical skills, and others. Use of gamification, micro-learning and wearable devices are some of the major trends in the corporate training market.
The effects of the COVID-19 pandemic have been observed across all sectors of all industries. The economic landscape has changed dynamically due to the crisis, and a change in requirements and trends has also been observed. The outbreak of coronavirus has negatively impacted the corporate training market. Due to the impacts of the COVID-19 pandemic, corporate training industry witnessed a 40% contraction in the global training market in 2020, however the market is anticipated to rebound in 2021 with a 22% growth.
As per the the global corporate training market analysis, the corporate training market segments is categorized on the basis of training method, training program, industry, and region. By training method, the corporate training market is classified into virtual and face-to-face. By training program, it is divided into technical training, soft skills training, quality training, compliance training and others.
By industry, it is segmented into FMCG/retail, pharmaceutical and healthcare, financial services, professional services, public enterprises, information technology, and other industries. Region-wise, the corporate training market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
As per the corporate training market trends, the virtual segment is expected to witness a significant growth during the corporate training market forecast period, owing to benefits associated with the virtual training method, which includes decreasing the training cost by mitigating the trainees’ travel & lodging expenses, provides flexibility for training schedule, enhances the motivation of trainees and others.
The soft skill segment is expected to witness a significant growth during the forecast period. This is attributable to the fact that employers tend to favor employees with soft skills as these skills are transferrable to any position and help in creating collaborative, productive, and healthy work environment, and all-important attributes for organizations. This is making it popular among the corporates, which in turn is contributing to the growth of the corporate training market.
Furthermore, by industry, the FMCG/retail segment is anticipated to be the fastest-growing segment, in terms of value sales, during the corporate training market forecast period, owing to rise in corporate investments in the staff and employee training in the retail sector to improve sales and achieve customer satisfaction. Soft skills training is an essential part of both ITES and BPO Training. The BPO industry needs a lot of skilled and trained employees so that it can provide quality services, as it provides them with the skills to solve the problems of the customers or at least are trained in the art of solving problems. Thus, increase in the adoption of training in this sector, in turn is boosting the corporate training market growth.
The key players operating in the global corporate training industry include Bizlibrary, GP Strategies Corporation, Franklin Covey Co., City & Guilds Group, D2L Corporation, Cornerstone Ondemand Inc., Wilson Learning Worldwide Inc., Allen Communications Learning Services, Simplilearn Solutions, and Skill Soft.
Key findings of the Study
- By training method, the face-to-face segment accounted for the highest corporate training market share in 2019, growing at a CAGR of 13.9% from 2021 to 2030.
- By training program, the technical training segment accounted for the highest market share in 2019, growing at a CAGR of 6.9% from 2021 to 2030.
- By industry, the pharmaceutical and healthcare segment accounted for the highest market share in 2019, growing at a CAGR of 6.6% from 2021 to 2030.
- By region, North America occupied maximum share in the corporate training market in 2019 and is expected to grow at a CAGR of 7.0% from 2021 to 2030.
Companies Mentioned
- allen communication learning services
- Business Training Library, Inc.
- City and Guilds International Limited
- Cornerstone OnDemand, Inc.
- D Two L
- Franklin Covey Co.
- GP Strategies Corporation
- Simplilearn Solutions
- skillsoft
- Wilson Learning Worldwide, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 274 |
| Published | April 2022 |
| Forecast Period | 2019 - 2030 |
| Estimated Market Value ( USD | $ 208997.06 million |
| Forecasted Market Value ( USD | $ 487305.7 million |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
