Technavio, a tech-focused market research firm, has published a new report on the global corporate training market, which is expected to experience a slow but steady growth rate with a CAGR of close to 2% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global corporate training market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global corporate training market into the following key regions: APAC, Europe, North America, and ROW.
Geographical segmentation of the global corporate training market for 2015 (market share %)
|
North America |
29.61% |
|
Europe |
18.08% |
|
APAC |
6.04% |
|
ROW |
4.46% |
Source: Technavio
Corporate training market in North America
In 2015, North America accounted for around 30% share in the global corporate training market. Numerous MNCs and large organizations are present in the corporate sector in the US. Establishments in the US are capitalizing more on online methods to train employees across different locations. North America has been the forerunner in presenting job-related and skills-related training. While some establishments develop patented training by collaborating with training institutes, others are specifically licensed services developed by leading training institutes. With the presence of many MNCs and other large organizations, there is a huge demand for corporate training solutions. Moreover, the growth of organizations’ business operations to emerging economies creates the necessity to train employees to safeguard a smooth knowledge transfer and job shift. This augments the demand for corporate training for both technical and non-technical fields.
According to Jhansi Mary, a senior analyst at Technavio, specializing in research on education technology, “The increasing popularity of continuous learning compels corporates to invest in technologies to deliver and access content from anywhere at any time. This has augmented the demand for cloud computing and companies are refining existing infrastructure to migrate to cloud-based services. Cloud software such as LMS can be used for content management, collaboration, and performance management.”
Corporates are progressively procuring cloud-based services and products by better IT infrastructure availability, leading to the deployment of virtual training sessions. The services are often delivered through hybrid clouds (a combination of public and private cloud models). Companies are interested in this service area as it allows the outsourcing of multiple business processes.
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Corporate training market in Europe
The corporate training market in Europe is expected to grow rapidly during the forecast period. The market’s growth in Europe is affected by various factors such as the rise in digitization and implementation of advanced technologies across the corporate sector. This is exerting continual pressure on companies to update their training programs. New technologies help improve teaching and learning methods while enhancing the quality of training and employee efficiency. The evolution of online and offline employment-oriented training programs (with high accreditations from regulatory authorities and reputed institutions) is another factor that has played a crucial role in accelerating market growth.
The adoption of mobile devices by countries like the UK, France, and Germany is resulting in the high demand for blended learning systems in Europe. M-learning acts as a supporting service for blended learning systems, which is largely followed by training methods in European organizations. Employers focus on refining the skill sets of new and existing employees, which helps them leverage the improved employment scenario in the region. Services such as tourism, information technology, and healthcare are expected to generate more jobs in the next few years, resulting in the equal demand for technical and soft skills training. In addition to on-board training for new employees, employers are expected to focus on refining the overall personalities of existing employees. In Europe, online training courses, specifically those that enable self-paced learning, are in high demand. Companies are also investing in building an online library of training courses that are both mobile and desktop compatible.
Corporate training market in APAC
APAC is likely to experience the highest growth during the forecast period. The increasing demand for new technologies from various industries due to rapid industrial development is the main factor contributing to the growth of the corporate e-training market. Factors such as increased Internet penetration and widespread availability of mobile devices are contributing to market growth in the region. With the growing use of smartphones, tablets, and laptops worldwide, organizations in APAC are turning to mobile devices to enhance the corporate skills of their employees. Organizations in the region are also emphasizing on the requirement to train employees to develop a broad range of skills, including technical skills, business skills, and management skills. In addition, organizations are executing LMS to meet the rising demand for training materials that can be accessed from anywhere. Though instructor-led training sessions are still conducted, a distinct emphasis has emerged in online methods.
Most enterprises in APAC are subsidiaries of established companies that are based in the developed countries. Initiatives such as m-learning and others are implemented at the enterprise level, resulting in the penetration of the service in APAC. Domestic companies are also investing in m-learning to bring all companies on the same platform and ensure seamless communication and flow of information.
The top leading vendors operating in the global corporate training market are:
- City & Guilds Kineo
- GP Strategies
- MHI Global
- Skillsoft
Other prominent vendors in the market include Articulate, Computer Generated Solutions, Desire2Learn, Global Training Solutions, Interaction Associates, New Horizons Computer Learning Centers, NIIT, QA, Tata Interactive Systems, and Wilson Learning Worldwide.
A more detailed analysis is available in the Technavio report titled, ‘Global Corporate Training Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Corporate E-learning Market 2016-2020
- Corporate Training Market in Europe 2016-2020
- Global Corporate M-learning Market 2015-2019
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