Corporate Training Market 2022 | Industry Size, Share Analysis

The global corporate training market size was valued at USD 327.2 billion in 2021, registering a CAGR of 6.9% from 2022 to 2028. The global market has been witnessed strong growth over the forecast period due to increased demand for middle and senior management, and increased adoption of coaching and training programs. High inclination towards online corporate training programs is expected to increase the market. It is more affordable and flexible option than the convention class room training programs. The corporate training is gaining importance due to increased demand for novel technologies in IT & technology industry. E-learning courses are witnessed robust growth due to convenience and affordability of the courses. Corporate industries are focused on E-learning courses and webcasts due to increase the employee efficiency through the modern technologies, with cost effectively. Corporate training, often known as workplace learning, is a set of learning activities meant to help employees improve their job performance. Employee productivity, motivation, performance, and retention are all improved by corporate training, which helps businesses achieve their objectives. The virtual training technique and the face-to-face training method are the two sorts of training methods. Furthermore, a market study of corporate training is conducted based on geographies, important players, and categories.

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Increased trend towards online learning is anticipated to drive the corporate training market. With a strong advancement of digitalization and emergence of the data driven business opportunities, many jobs and skills are become obsolete, especially in IT driven industries. But, it is not limited to only IT Sectors, advancements in technologies has led companies to train their workforce to meet the requirements and not to lose the competitive advantage. The conventional training methods such as class room training are no relevant to today’s trends due to the fact that they are slow, expensive and consume too many productive hours of companies. The outsourcing training will cost the companies more. Small and middle sized companies won’t easily prefer the training by service providers. This may hamper the corporate training market growth in near future.

 

The Corporate Training Market Detail Segmentation

1) By Training Services: Technical, Leadership, Managerial, Sales, and Customer Support.
 2) By Delivery Mode: Classroom Training, Blended Training, Virtual Training, and Online Training (No Instructor)
 3) By Organizational Size: Large Companies, Medium Companies, and Small Companies.
 4) By Designation: Managerial, Non-Managerial, and Integrated.
 5) By Deployment: On-Site and Off-Site
 6) By Training Type: Customized and Open
 7) By End User Industry: BFSI, IT and Telecom, Healthcare, Automotive, and Manufacturing

 

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North America dominated the global corporate training market followed by Europe and Asia Pacific owing to favorable government initiatives, establishment of world class corporate training institutes, surge in need of soft skills and statutory training requirements. It can all be done in a cost effective way through e-learning. Increased opportunities in industry based training are anticipated to offer lucrative opportunities for the market players plunged in corporate training market.

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