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 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.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

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.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Corporate Training Market

Product ID: SQMIG20P2003

$5,300
BUY NOW GET FREE SAMPLE