The corporate training market in Europe was valued at around $18 billion in 2015 and is expected to surpass $27 billion by 2020, says Technavio.
Technavio has announced its latest market research report on corporate training market in Europe to its education technology portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the corporate training market in Europe during the forecast period. Some of the top vendors listed in this industry analysis include City & Guilds Kineo, GP Strategies, MHI Global, NetDimensions, and Skillsoft.
In terms of geographical analysis, Western Europe will be the largest region in the global market, reaching revenues of almost $10 billion by 2020. Some of the major organizations in the region are collaborating with the training providers to develop customized and standardized solutions for their employees.
“Organizations are leveraging technology to provide new and advanced training methods to offer employees with regular feedback, agile goal setting, and mentoring from senior management. The training modules are embedded with video lectures, quizzes, tests, and game mechanics like leaderboards and missions. Rewards and Badges are awarded to employees that complete the entire course content including videos, self-assessments, and in-depth content analysis,” says Jhansi Mary J, a lead analyst at Technavio for research on education technology.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increased attention on individual coaching
Companies in Western Europe prefer training that focuses on individual coaching as it is the most effective module to ensure that employees learn and apply the knowledge imparted in these training sessions. The implementation of coaching system in training helps develop strong critical thinking and analytical skills among employees. These training helps employees at better decision making and creates a strong emotional resilience. For instance, Jaguar has extended it coaching style training to external service providers with an objective to increase the sustainability of workforce.
Content-based services
The training vendors are partnering with multiple institutions and professional organizations to design and offer training solutions to organizations. Many organizations have varied training needs, and this has resulted in customized content offered by vendors that is aligned with the needs of organizations. The training programs that the service providers are offering have to follow the accreditation standards of respective industry regulatory agencies. For instance, Pearson provides IT certification training courses of the key networking, hardware, and software companies like Cisco, Microsoft, Oracle, and IBM.
Revival of talent management solutions
Many companies are developing training programs for independent workers that aid in workforce management, achieve optimum productivity, and drive innovations. Diversity in workforce like freelancers, contractors, partners, outsourced employees and open source talent has increased the need for training programs that are designed to handle specific employee requirements. The training and onboarding activities are customized according to the various categories of employees. Such innovations are changing the corporate training market landscape in Europe.
Need for employee engagement
Employee engagement is one of the main areas of focus for organizations to achieve higher productivity. The implementation of successful employee engagement policies directly affects the employee satisfaction and loyalty in an organization. Businesses are focusing on engaging employees through constructive efforts which translate to the better economic output of the company.
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.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Corporate Training Market in Europe 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Academic and Corporate LMS Market in the US 2016-2020
- Global Corporate Training Market 2015-2019
- Global Soft Skills Training Market 2015-2019
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