The corporate training market in the US was valued around USD 21 billion in 2015 and is expected to surpass USD 33 billion by 2020, says Technavio.
Technavio has announced its latest market research report on the corporate training market in the US to its K12 and higher education portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Articulate, GP Strategies, Miller Heiman, and Skillsoft.
According to Jhansi Mary, a senior analyst for K12 and higher education research at Technavio, “The market is witnessing a growing popularity of training through social collaboration tools. The use of social media is becoming widespread in large organizations, as it gives employees a chance to engage in active and collaborative learning.”
Social learning helps employees become part of a network of knowledgeable people across the world. Interaction with subject matter experts can help them make informed decisions and solve complex problems. Employees find social learning convenient and useful as the seamless interaction with their peers and experts, regardless of time and location, help them develop a greater sense of control over the learning process.
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Corporate m-learning
The rising demand for corporate training is driving the market development for m-learning, which depends heavily on content creation and management. Apart from being cost-effective, m-learning supports the availability of certain online employment-oriented training programs on mobile devices. Technavio notes that m-learning courses have radically improved the method of employee training.
Rising government initiatives to boost training techniques
Rise in government initiatives to encourage training activities has further pushed the market’s growth. Such initiatives are implemented mainly in countries such as the US to enhance employability and reduce layoffs by companies. In the US, the Department of Labor’s ETA provides funds for training programs undertaken by the youth and workers located in various regions across the globe.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides 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 the US 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Corporate Training Market 2016-2020
- Corporate Training Market in Europe 2016-2020
- Global Soft Skills Training Market 2016-2020
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