Corporate Training Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Training Type (Technical Training, Soft Skills Training, Compliance Training, Management Training, Quality Training, and Others), By Method (In-Person Training, Online, E-learning, Blended Learning, Instructor-Led Training(ILT), and Others), By Industry (IT & Technology, Retail, Healthcare, Finance & Banking, Manufacturing, Pharmaceuticals, and Others), and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The Global Corporate Training Market is expected to expand at a CAGR of 9.7% between 2023 and 2030. Corporate training also known as corporate education, is a system of learning activities designed to educate employees to perform better in the workplace. It is beneficial for employees as it helps them to improve skill sets, knowledge, and competences to progress professionally and personally. Corporate training is industry involved in providing training and development services to businesses and organizations for overall growth and success. This is workplace training designed for employees to equip them with the hone knowledge and skills they require to perform at their workplace effectively and contribute to the organization’s overall growth. Corporate training plays a vital role to acquire new skills, and perform better, as every organization needs to encourage a culture of continual learning among employees. Based on training type, the market is classified into technical training, soft skills training, compliance training, management training, quality training, and other training programs. The growth of the market is attributed to the Shift to remote and hybrid work, growing emphasis on employee development, rising demand for continuous learning, and compliance and regulatory requirements.

Corporate Training Market Major Driving Forces

Shift to Remote and Hybrid Work: The shift towards remote and hybrid work has accelerated the adoption of online training solutions. E-learning platforms, virtual classrooms, and mobile learning apps have become increasingly popular to cater to diverse learning preferences.

Growing Emphasis on Employee Development: The increasing focus on employee development and retention is a significant driver of the global corporate training market. Companies are investing in training and development programs to improve employee skills, and knowledge to attract and retain top talent.

Rising Demand for Continuous Learning: The increasing demand for continuous learning lead to widespread adoption of various training and learning solutions.  Organizations and businesses are making significant investments in digitizing training procedures for their success and growth.

Compliance and Regulatory Requirements: The growing focus on compliance and regulations across various industries drives the demand for corporate training market. Organizations increasingly facing complex web of regulations, need employees to understand and adhere to them.

Corporate Training Market Key Opportunities

Microlearning and Mobile Learning: The mobile learning is a new way to access learning content using mobile devices. Mobile learning has made it possible to learn whenever and wherever you want. Microlearning involves delivering training content in short, bite-sized information modules is anticipated to present an opportunity for effective learning.

AI-Powered Personalization: AI-powered personalization is a method of learning that employs artificial intelligence-based technology to tailor employee’s education to their specific needs. It involves artificial intelligence and machine learning algorithms to personalize learning experiences based on individual preferences. This personalization extends to the choice of training materials, learning pace, and assessment methods.

Innovations: The utilization of augmented reality(AR) and virtual reality(VR) to create realistic training simulations is expected to create significant opportunity for the market. Major companies in the market are increasingly adopting these technologies to provide employees with immersive experiences and safe environment for skill development.

Corporate Training Market Key Trends

·         The rising trend of remote and hybrid work has fueled the demand for flexible and remote-friendly training solutions

·         The introduction of low-cost e-learning training solutions is propelling the growth of the corporate training market

·         The growing industrialization and globalization of organizations is a major factor behind the expansion of corporate training market

·         The emergence of IoT and wearable devices in training industry is gaining popularity due to rapid adoption of digital solutions

·         Increasing penetration of internet coupled with growing adoption of smart devices is a major factor shaping the industry growth

·         Growing shift from conventional to e-learning training solutions, as they are convenient to update, maintain, and share

·         AI-powered training has been transforming the corporate training industry by offering personalized learning experiences based on individual preferences

Market Competition Landscape

The global corporate training market is highly competitive with several number of key players operating in the market. Key players in the corporate training market engage in business strategies aimed at gaining a competitive edge. The market players operating in the market are focusing on product launch and merger, acquisition strategies to expand the global presence. Established brands leverage their reputation for quality and reliability to maintain market share, while newer entrants focus on disruptive innovations and unique selling propositions.

Key players in the global corporate training market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         Skillsoft

·         Wilson Learning Worldwide Inc.

·         Udemy, Inc.

·         City and Guilds Group

·         D2L Corporation

·         Franklin Covey Co.

·         GP Strategies Corporation.

·         Allen Communication Learning Services

·         BizLibrary

·         Phoenix Training & Development

·         Bauer Consumer Media Ltd

·         GBS Corporate Training

·         LinkedIn Learning

·         NIIT