Corporate Learning / Training Market- Description
Global corporate learning market was valued as USD 398.46 billion in 2022 and is projected to reach a value of USD 817.57 billion by 2030 expanding at a CAGR of 9.45 over the forecast duration of 2022-2030.
A set of exercises designed to educate personnel is known as corporate training, sometimes known as corporate education or, more recently, workplace learning. While it benefits businesses, it also benefits representatives because it enables them to acquire and hone skills that will help them progress both professionally and personally.
Any effort to increase a company’s or organization’s ability to successfully understand and adapt to the environment is referred to as corporate learning or training. It’s not only about learning how to use a new piece of equipment, or teaching people about new software or items, although those things can be included. A learning culture can generally improve an association’s seriousness, creativity, and adaptability.
Corporate learning market- Overview
Corporate learning also known as workplace learning, is basically a system of learning activities which are designed to train employees in order to perform better on the job. Corporate learning enhances an employee’s productivity, motivation, performance, and also their retention that in turn helps corporates to achieve their business goals.
It also refers to the ways to ensure employee skills are improved and also their performance is enhanced by placing a lot of emphasis on the professional development. Employees that work in corporate learning are growing and learning in their role and are less likely to quit.
Corporate training/ learning is also intended to enrich the professional skill set of employees through activities, which help them to improve their work performance that has in turn resulted in organizational productivity
Corporate Learning / Training Market- Key trends
Innovations by associations is a key trend bolstering the market
To impose applicable and altered corporate training solutions, associations are continuously and progressively taking on creative and cost-effective ways to train their employees.
This element is expected to drive the market development in the approaching future. This is credited to the fact that the reception of e-learning helps in diminishing employees’ working hours and improves the comfort of support, refreshing, and putting away data effectively.
Advent of wearable gadgets to aid in market progression
The ascent of IoT and wearable gadgets being normal is one of the key patterns accomplishing footing in the corporate learning/training market during the following couple of years. The quick reception of advanced solutions for force e-learning is driving the development of the Internet of Things (IoT) and wearable gadgets. Wearable gadgets or applications are giving helpful and efficient solutions, to productively marking participation and observing their exhibition.
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Segmental analysis of the corporate learning/ training market
Based on training method
- Virtual
- Face-to-face
The face-to-face segment has accounted for the highest corporate training market share. The face-to-face method has several benefits that includes the opportunities for employees to ask questions for their trainers which cannot be answered in other segments.
Based on training program
- Technical training
- Soft skills training
- Quality training
- Compliance training
- Others
The technical skill segment has accounted for the highest global corporate learning market share. This is because of the benefits associated with the segment, such as helping in acquiring the skills which are required to develop, design, implement, maintain, or operate technologies in different industries.
Based on Industry
- Banking & Finance
- Healthcare
- Manufacturing
- IT
- Retail
- Hospitality
- Others
The healthcare segment has accounted for the largest share in the corporate training market. This is because of the factors, such as aging population across the globe and has resulted in a greater demand for healthcare services.
North America is expected to amplify at a considerable CAGR
North America, Europe, Asia Pacific, Middle East and Africa are the major regions constituting the geographical landscape of worldwide corporate learning/training market. Among these, North America has accounted for the highest market share in the industry. This is because of factors, such as presence of MNCs and large organizations in the region and also their large focus on expanding their geographical presence.
Competitive Landscape
The prominent players influencing the competitive hierarchy of the market sphere are Bizlibrary, GP Strategies Corporation, Franklin Covey Co., City & Guilds Group, D2L Corporation, Cornerstone Ondemand Inc., Wilson Learning Worldwide Inc., Allen Communications Learning Services, Simplilearn Solutions and Skill Soft.
Major Developments
- The key players are focused on prominent strategies in order to overcome the competition and also to maintain and improve their shares, worldwide.
- Curricula closed a $3 million growth investment from RCP Equity for its fun, story-based security awareness training platform.
Major questions answered in this report
- What is the growth rate of corporate learning market?
- What are the primary growth determinants of the corporate learning market?
- Which are the major regions constituting the geographical landscape of the market?
- Which are the prominent companies operating in the market?
Table of Contents
- Market Introduction and Market Overview
- Market – Executive Summary
- Market Trends, Outlook, and Factors Analysis
- Market: Estimates & Historic Trend Analysis (2018 to 2021)
- Global Corporate Learning / Training Market Estimates & Forecast Trend Analysis, by Deployment
- Global Corporate Learning / Training Market Estimates & Forecast Trend Analysis, by Component
- Global Corporate Learning / Training Market Estimates & Forecast Trend Analysis, by Content Type
- Global Corporate Learning / Training Market Estimates & Forecast Trend Analysis, by End Use
- Global Corporate Learning / Training Market Analysis and Forecast, by Region
- North America Corporate Learning / Training Market: Estimates & Forecast Trend Analysis
- Europe Corporate Learning / Training Market: Estimates & Forecast Trend Analysis
- Asia Pacific Corporate Learning / Training Market: Estimates & Forecast Trend Analysis
- Middle East & Africa Corporate Learning / Training Market: Estimates & Forecast Trend Analysis
- Latin America Corporate Learning / Training Market: Estimates & Forecast Trend Analysis
- Competitive Landscape
- Company Profiles
- Assumptions and Research Methodology
- Conclusions and Recommendations
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