The GMI Research's latest analysis reveals that the Corporate Training Market is slated to register a higher CAGR. The expansion of the business sector followed by the increasing number of the working population, diversity in learning requirements at the workplace, and growing inclination of companies to improve the skills of employees are the major factors that are driving the market growth.
DUBLIN, DUBLIN -- (SBWIRE) -- 03/15/2021 -- Corporate Training Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The increasing business sector, along with the growing number of the working population, diversity in learning requirements at the workplace, and rising inclination of companies to improve the skills of workers are the major factors that are contributing to the growth of the global corporate training market size. As per a survey conducted by LinkedIn, around 94% of workers stated that they would stay at a company longer if the company invested in their development and 90% of top management concluded that investing in the career development of employees is helping the companies to grow. This is expected to provide various opportunities for the corporate training market growth.
Continuous technological advancement and the introduction of IoT, artificial intelligence, mobile applications, e-learning, video conferencing, and wearable devices are driving the market growth. There are various advantages offered by this training such as improves time efficiency, the convenience of any time and anywhere training for employees through web-based training, better monitoring of trainee performances, and real-time feedback of trainees. On the other hand, the emergence of coronavirus has hampered the growth of the corporate training market growth due to a large number of job losses and budget constraints in corporate sectors.
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Corporate Training Market's leading Manufacturers:
- 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.
Method Segment Drivers
Based on the method, synchronous corporate training is projected to grow at a higher CAGR during the forecast period. The various advantages of simultaneous participation of all learners, on-the-job coaching, live classroom sessions, web-based classes, and webinars. In addition to this, personal engagement between trainees and instructors in real-time learning environment is supporting the segment growth.
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Regional Drivers
Based on the region, North America is anticipated to grow at a faster CAGR during the forecast period. The continuous expansion of the retail, healthcare, manufacturing, and information technology industries is a major factor that is surging the regional market growth. Furthermore, as per the U.S. Bureau of Labor Statistics, employment is expected to increase by 6.0 million jobs from 2019 to 2029 in the U.S. This is further surging the market growth.
Corporate Training Market Segmentation:
Segmentation by Method:
- Synchronous
- Asynchronous
- Hybrid Training
Segmentation 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
Segmentation by Industry:
- IT & Technology
- Manufacturing
- Management
- Healthcare
- Government
- Recruitment
- Consumer Electronics
- Financial Services
- Business & Professional Services
- Others
Segmentation by Region:
- North America
o United States of America
o Canada
- Asia Pacific
o China
o Japan
o India
o Rest of APAC
- Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
- RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
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