Corporate Training Market by Product, Type, End-User

Description

List of Tables

[193 Pages Report] The Corporate Training Market size was estimated at USD 329.01 billion in 2023 and expected to reach USD 354.97 billion in 2024, at a CAGR 8.61% to reach USD 586.66 billion by 2030.

Corporate training has become an essential part of corporations providing educational activities to employees that covers various topics and improvement areas, from soft skills to role-specific competencies. It benefits employees and businesses to build intellectual capital and upskills or reskills employees. Employing training and development is important for companies to enhance their employee performance in the workplace. Increased use of digital technologies has boosted the use of virtual training platforms across the corporate sector. However, the high cost associated with corporate training creates hurdles for corporate training programs and platform adoption. The integration of advanced technologies, including artificial intelligence (AI) and augmented reality (AR), is enhancing the capabilities of corporate training solutions.

KEY MARKET STATISTICS
Base Year [2023]	USD 329.01 billion
Estimated Year [2024]	USD 354.97 billion
Forecast Year [2030]	USD 586.66 billion
CAGR (%)	8.61%

Product: Ongoing technological trends demanding soft skills training to cultivate essential interpersonal competencies

Brand training is dedicated to instilling the core values and identity of a company into its workforce, ensuring a uniform brand presentation to the public. Compliance training is indispensable, educating employees on critical legalities, regulations, and internal policies to safeguard the organization's credibility and avert legal complications. Safety training addresses the vital need for workplace safety awareness, equipping employees with the knowledge to prevent accidents and handle emergencies, which is crucial in physically demanding industries. Sales training aims to refine the sales force's abilities, enhancing customer interactions, negotiation, and comprehensive product understanding, thus driving revenue growth. Soft Skills courses are tailored to cultivate essential interpersonal competencies such as effective communication, leadership, and teamwork, which are pivotal in promoting a harmonious and productive workplace culture. Technical courses provide specialized training in current technological, engineering, or scientific skills essential for maintaining competitive superiority in the fast-paced technological landscape.

End-User: Expanding inclusion of corporate training in the information technology (IT) sector

In the BFSI domain, the emphasis is on arming employees with updated knowledge of financial products, adherence to regulations, and technological acumen, with special attention to cybersecurity, risk management, and customer service prowess. The government and public sector aim their training efforts towards enhancing service delivery, project execution, policy application, and leadership among civil servants, not forgetting the importance of ethics, transparency, and accountability. Healthcare focuses on training that upholds exemplary patient care, regulatory compliance, and the assimilation of novel medical technologies, underpinning the necessity for continual education to uplift treatment quality and efficiency. The hospitality industry channels training towards boosting customer satisfaction, operational productivity, and employee contentment, concentrating on service superiority, cultural awareness, communication, and managerial skills. For the IT sector, the rapid tech evolution demands incessant training in software development, cybersecurity, data science, and cloud solutions to encourage innovation, tighten security, and enhance service provision. Manufacturing sector training prioritizes enhanced production methods, quality assurance, and safety compliance, incorporating lean manufacturing, equipment handling, and health regulations. Professional services firms invest in training to sharpen client management, adherence to compliance, and business expansion skills, focusing on refining leadership, communication, and problem-solving abilities to elevate client service levels.

Regional Insights

Americas showcases the rapid growth landscape as a strong regional corporate sector, particularly in the U.S. In addition, a continuously increasing number of business organizations across major economies, including the U.S., Canada, and Mexico, support the penetration of corporate training platforms. Companies in the developed countries in Europe, the Middle East & Africa (EMEA) invest heavily in corporate training programs. Moreover, the corporate training market in Asia-Pacific is growing, attributed to the evolving small, medium, and large-sized enterprises (SMEs) and the implementation of government programs to support corporate training.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Corporate Training Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Corporate Training Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Corporate Training Market, highlighting leading vendors and their innovative profiles. These include Adobe Inc., Allen Communication Learning Services, Berlitz Corporation, Cisco Systems, Inc., City and Guilds, CLOUDTHAT TECHNOLOGIES PRIVATE LIMITED, Cornerstone Ondemand, Inc., D2L Inc., Demos Group, Development Dimensions International, Inc., Excelerate Sdn. Bhd., Franklin Covey Co., Henry Harvin, Interaction Associates, Inc., iSpring Solutions, Inc., John Wiley & Sons, Inc., KEEN IT TECHNOLOGIES PVT.LTD., Learning Technologies Group PLC, Mind Gym PLC, myTectra, NIIT Limited, PinPoint Workforce, Inc., Richardson Sales Performance, Simplilearn Americas Inc., Smart Sparrow, Speexx, The Ken Blanchard Companies, Udemy, Inc., and Wilson Learning Worldwide Inc..

Market Segmentation & Coverage

This research report categorizes the Corporate Training Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Brand Training
- Compliance Training
- Safety Training
- Sales Training
- Soft Skills Courses
- Technical Courses

Type
- Blended
- Instructor Led
- Online

End-User
- BFSI
- Government Business
- Healthcare
- Hospitality
- IT
- Manufacturing
- Professional Services

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Corporate Training Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Corporate Training Market?

3. What are the technology trends and regulatory frameworks in the Corporate Training Market?

4. What is the market share of the leading vendors in the Corporate Training Market?

5. Which modes and strategic moves are suitable for entering the Corporate Training Market?

Product Code: MRR-4659C8712A09

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing Focus on Enhancing Employee Skills and Competencies
  - 5.1.1.2. Popularity of Virtual Training Systems
  - 5.1.1.3. Rise in Learning Requirement at the Workplace and Growing Concept of Micro-Learning
- 5.1.2. Restraints
  - 5.1.2.1. High Costs Associated With Corporate Training
- 5.1.3. Opportunities
  - 5.1.3.1. Adoption of Innovative Tools in Corporate Training
  - 5.1.3.2. Investments to Expand and Enhance Corporate Training Platform
- 5.1.4. Challenges
  - 5.1.4.1. Possibility of Poor Quality Training Due to Limited Standardization of Training Methods
5.2. Market Segmentation Analysis
- 5.2.1. Product: Ongoing technological trends demanding soft skills training to cultivate essential interpersonal competencies
- 5.2.2. End-User: Expanding inclusion of corporate training in the information technology (IT) sector
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Corporate Training Market, by Product

6.1. Introduction
6.2. Brand Training
6.3. Compliance Training
6.4. Safety Training
6.5. Sales Training
6.6. Soft Skills Courses
6.7. Technical Courses

7. Corporate Training Market, by Type

7.1. Introduction
7.2. Blended
7.3. Instructor Led
7.4. Online

8. Corporate Training Market, by End-User

8.1. Introduction
8.2. BFSI
8.3. Government Business
8.4. Healthcare
8.5. Hospitality
8.6. IT
8.7. Manufacturing
8.8. Professional Services

9. Americas Corporate Training Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Corporate Training Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Corporate Training Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. The Ken Blanchard Companies Partners With Mindtickle To Announce Digital Learning Journeys
- 12.3.2. CoSo Cloud Expands eLearning Partnership with Adobe Systems
- 12.3.3. Simplilearn raises $45 mn in Series E round | Mint
- 12.3.4. upGrad signs 335,000 sq. ft space for expansion across 4 cities
- 12.3.5. iFuture Technologies launches exclusive corporate training program in Kalyan and Thane, Mumbai
- 12.3.6. NIIT acquires US-based St Charles Consulting to expand strategic learning capabilities - The Hindu BusinessLine
- 12.3.7. City & Guilds acquires electrical training provider Trade Skills 4U
- 12.3.8. Simplilearn in partnership with Meta Immersive Learning launches program in Spark AR Studio
- 12.3.9. Edtech start-up upGrad acquires corporate training solutions firm Centum
- 12.3.10. Hone Raises $30M Series B Round to Expand its Corporate Learning Platform
- 12.3.11. Learnsoft bags first external financing to expand its corporate upskilling platform
- 12.3.12. Wiley Launches "Self Empowered," New Program Designed to Help Companies Empower Leadership at Every Level
- 12.3.13. TDCX Thailand Launches Training Program to Equip Agents With the Top Skills Needed By 2025

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio