USD 151.75 billion
Global Corporate Training Market Size, Share, Growth Analysis, By Training Program(Technical Training, Soft Skills), By Industry(Retail, Pharmaceutical) - Industry Forecast 2024-2031
Report ID:
SQMIG20P2003 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
70 |
Figures:
75
Global Corporate Training Market Insights
Global Corporate Training Market size was valued at USD 151.75 billion in 2019 and is poised to grow from USD 163.58 billion in 2023 to USD 487.3 billion by 2031, growing at a CAGR of 8% in the forecast period (2024-2031).
Corporate training is a system of learning activities aimed at empowering employees to perform better in the workplace. Corporate training improves employee productivity, motivation, performance, and retention, which in turn helps organizations achieve their business goals. There are two types of training methods, which include virtual training methods and face-to-face training methods. Furthermore, the Corporate Training market analysis is done on the basis of regions, key players, and segments.
The pandemic has had a negative impact on the corporate training market. COVID19 has caused approximately 195 million job losses worldwide. Additionally, Europe and the Arab States have experienced the worst employment impacts in percentage terms during this pandemic. Hence, this global economic disruption resulted in budget constraints in the corporate sectors that the R and D teams had to contend with, along with several challenges in demonstrating the ROI of their training programs.
US Corporate Training Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Soft Skills
Fastest Growth
Soft Skills
Growth Rate
8% CAGR
Global Corporate Training market 2022-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
Global Corporate Training market Size By Training Program, 2022-2028 ($ Mn)
Global Corporate Training market Size By Training Program, 2022-2028 (%)
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Global Corporate Training Market Segmental Analysis
The Global Corporate Training Market is segmented on the basis of Training Programs, Industries, and Regions. Based on Training Programs, the Corporate Training Market is segmented into Technical Training, Soft Skills, Quality Training, Compliance, and Others Training programs. Based on the Industries, the Corporate Training Market is segmented into Retail, Pharmaceutical And Healthcare, Financial Services, Professional Services, Public Enterprises, Information Technology, and Others Industries. Based on Region, the Global Corporate Training market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Corporate Training Market Analysis by Training Program
In 2021, the technical skills segment accounted for the highest global corporate training market share by training programs. Because of the benefits, it brings. It helps to acquire the necessary skills to develop, implement, maintain and operate technology to related applications, products, and services in various industries. In the retail industry, technical training may include teaching employees how to use the computer. Technical training for sales may require teaching employees how to improve and build the Customer Relationship Management and system to find new leads. And all these will push the market growth by 13.9% CAGR for the forecast period.
Corporate Training Market Analysis by Industries
Additionally, by industry, the Retail and FMCG segment is expected to be the fastest-growing segment in terms of value revenue during the corporate Training Market forecast period. As companies increase their investments in employee training in the Retail sector. The BPO sector requires a large number of trained and qualified employees to provide good services and it gives them the skills to solve consumer problems. Henceforth, the increasing adoption of training in this sector is, in turn, driving the growth of the corporate training market. This increased the market share by 9.6% CAGR for the research period from 2022 to 2028.
The growth of the corporate training market is anticipated to increase during the forecast period as the demands for on-the-job learning increase. Additionally, the emergence of a profitable online-learning training module is expected to propel the growth of the enterprise training market in terms of revenue over the forecast period.
Global Corporate Training market By Training Program, 2021(%), 2023 (%)
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Global Corporate Training Market Regional Insights
The US and Canada are the key market players in the corporate training sector followed by European nations and the Asia Pacific region. North America accounts for 43% of the total market sector of the world. The presence of large corporate MNC companies and giant IT organizations enables this country to lead the sector of corporate training globally. There are huge investments made by these companies into corporate training to improve the work-life balance and efficiency of employees and this will lead to driving the sector growth in the forecast period.
The European and the Asia Pacific region is set to grow at the fastest CAGR in the coming future and the increasing startup culture and setup of new companies will require corporate training for the candidate joining the organization with proper knowledge. So this will further push the growth of the sector in the forecast period of 2022 to 2028.
Global Corporate Training market By Geography, 2022-2028, 2024-2031
- Largest
- Fastest
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Global Corporate Training Market Dynamics
Corporate Training Market Driver
- The advent of low-cost e-learning training modules will fuel the growth of the business training market. Organizations are increasingly adopting innovative and cost-effective ways to train their employees. Organizations' transition from traditional training to e-learning helps them save employee man-hours, and it is convenient to maintain, update, and store information more efficiently.
- Mobile devices are packed with features such as accessibility of Learning Management Systems that allow employers to offer on-the-job training modules that you can complete at your own pace. The mobile-based corporate training approach reduces dependency on time and place for attending training sessions.
Corporate Training Market Restraint
- The corporate training needs a lot of skilled and highly qualified people to conduct and the cost of accusation is too high for acquiring these people. For that reason, the cost of conducting corporate training is going higher, and affording corporate training is only performed in large corporates.
- All these reasons are slowing down the sector growth and restraining the rise of the corporate training sector.
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Global Corporate Training Market Competitive Landscape
The Corporate Training market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are Adobe Inc., Cisco Systems Inc., Franklin Covey Co., and John Wiley and Sons Inc. among others who are driving the market.
Corporate Training Market Top Player’s Company Profiles
- Skillsoft
- LinkedIn Learning
- Pluralsight
- Cornerstone OnDemand
- Udemy for Business
- OpenSesame
- GP Strategies
- D2L Brightspace
- SAP Litmos
- Coursera for Business
- EdCast
- Talentsoft
- Docebo
- Saba Software
- VitalSmarts
- CrossKnowledge
- Allen Interactions
- Caveo Learning
- SkillPath
- Global Knowledge
Corporate Training Market Recent Developments
- In July 2021, Adobe Inc. launched Adobe Analytics for Higher Education to advance digital literacy.
- In July 2021, Cisco Systems Inc acquired Socio Labs, an events management company.
- In March 2021, JohnWiley and Sons Inc partnered with NUS Advanced Computing to launch a global certification program aimed at bridging the technology skills gap.
Global Corporate Training Key Market Trends
- The major trend is the shift of corporate training into online platforms. Which reduced the cost of training dramatically this, in turn, increased the adoption of corporate training by many new companies. Those who were not adopting the training program earlier for the reason of being too expensive.
- The need for more skilled employees in the organization because of advancements in tools used in the organization and the introduction of new programming languages in the IT sector is increasing the demand for corporate training to keep employees up to date with the latest trend and technologies in the market. This is also a reason that enables the market growth in the forecast period.
Global Corporate Training Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. SQ identified the key dominating segments of the market by offerings and verticals.
According to our analysis, the Corporate Training market is dominated by the technical skill training segment and has a revenue share of around 36.5% in 2021. This segment is about training the candidate just before onboarding them and starting to work on the project to get a better understanding of the technologies and tools necessary for the project in the organization. Technical training for sales may require teaching employees how to improve and build the Customer Relationship Management and system to find new leads. And all these will push the market growth by 13.9% CAGR for the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 151.75 billion |
| Market size value in 2031 | USD 487.3 billion |
| Growth Rate | 8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Corporate Training Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Corporate Training Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Corporate Training Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Corporate Training Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Corporate Training Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Corporate Training Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Corporate Training Market Report Snapshots
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