Corporate Training Market

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

Corporate Training Market News

  • 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.
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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).

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. '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', 'Knowledge'

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.

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 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.

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Corporate Training Market

Product ID: SQMIG20P2003