Corporate Training Market Size, Share & Growth Report | 2032
Corporate Training Market Size, Share & Growth Report | 2032
Segments - by Types (Technical Training, Quality Training, Soft-Skills, Brand Training, Compliance Training, Safety Training, Sales Training, Product & Services Training, Others), by Methods (Online, Offline, Instructor-led, Self-led, Blended, Others), by End-users (Retail, Financial Services, Pharmaceutical & Healthcare, Hospitality, Government, Manufacturing, IT, Business & Professional Services, Others)
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| Report ID :ICT-SE-4041
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Report Description
[Last Update: Sept 2024 ]
The Corporate Training market, was valued at USD 389.6 Bn in 2023, and is projected to grow at a CAGR of 8.2% throughout the forecast period (2024-2032). By 2032, the market is anticipated to witness a substantial accretion, reaching USD 791.9 Bn. The growth of the market is attributed to the rising adoption of microlearning and emergence of cost-effective e-learning training modules.
Corporate training refers to teaching skills and imparting knowledge to employees to aid them in enhancing their performances while carrying out tasks. It enhances motivation, productivity, and efficiency of employees and their retention, which helps companies to achieve their business goals. Corporate training includes several training methods such as instructor-led training method, offline or face-to-face training method, online or virtual training method, and others. Companies and organizations employ one or more of these methods to improve skill sets of employees, such as communication skills, technical skills, leadership skills, negotiation skills, and others.
Imposed lockdown and other travel restrictions during the COVID-19 pandemic situation led companies and organizations to adopt a work from home approach. Companies and organizations adopted virtual training methods to train their employees during such times. With the rising penetration of internet, increasing usage of smart devices such as smartphones and tablets, and development of technologies such as Artificial Intelligence (AI) and Virtual Reality (VR), companies are remodeling their conventional training approach and adopting online platforms to train their employees. Additionally, companies and organizations are establishing the necessary infrastructure for online training methods. Rapid urbanization, increasing adoption of online learning platforms, and rising diversity in learning requirements in workplace are factors facilitating the growth of the market during the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing penetration of internet, rising adoption of smart devices, and development of technology and telecommunications platforms are expected to boost the global corporate training market during the forecast period.
- Rising adoption of innovative and cost-effective ways to train employees by organizations fuels the market.
- Growing shift from conventional to e-learning training modules, as they are convenient to store, maintain, update, and share, spurs the market.
- Increasing adoption of innovative training methods that help in saving the working hours of employees is anticipated to drive the market during the forecast period.
- Growing adoption of sustainability consulting for ensuring balance within social, econommical, and environmental factors to meet current needs without compromising the organization's future growth requirements.
- Budget constraints hamper the growth of the global corporate training market.
- Rising inclination of companies and organizations towards cost-effective online or virtual training offer lucrative opportunities for key market players.
- Rising use of wearables, gamification, and microlearning are some of the major trends in corporate training, which are estimated to offer growth opportunities to key market players during the forecast period.
Scope of the Report
The report on the global corporate training market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Corporate Training Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2023 |
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Historic Data |
2017–2022 |
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Forecast Period |
2024–2032 |
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Segmentation |
Types (Technical Training, Quality Training, Soft-Skills, Brand Training, Compliance Training, Safety Training, Sales Training, Product & Services Training, and Others), Methods (Online, Offline, Instructor-led, Self-led, Blended, and Others), and End-users (Retail, Financial Services, Pharmaceutical & Healthcare, Hospitality, Government, Manufacturing, IT, Business & Professional Services, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Adobe, Inc.; Learning Technologies Group, Plc. (LTG) BizLibrary; Allen Communication Learning Services; Cornerstone OnDemand, Inc.; City and Guilds Group; Desire2Learn (D2L); Franklin Covey, Co.; Simplilearn Solutions, Pvt. Ltd.; GP Strategies Corporation; Skillsoft, Ltd.; Wilson Learning Worldwide, Inc.; Cisco Systems, Inc.; John Wiley & Sons, Inc.; NIIT, Ltd.; Udemy, Inc.; The British Standards Institutions; Pluralsight, Inc.; Bureau Veritas; TUV Nord, and Others |
Market Segment Insights
Technical training segment holds a large market share
On the basis of types, the market is divided into technical training, quality training, soft-skills, brand training, compliance training, safety training, sales training, product & services training, and others. The technical training segment is expected to dominate the market during the forecast period, owing to benefits associated with it. It aids in acquiring skills that are required to design, develop, implement, operate, or maintain any technology, application, product, or service in various industries. Increasing demand for technical training in corporate sectors is projected to boost the global corporate training market. Additionally, the soft-skill segment is anticipated to expand during the forecast period, due to increasing demand for soft-skill training programs by major companies around the globe.
Online segment boosts the market
Based on methods, the market is segregated into online, offline, instructor-led, self-led, blended, and others. The online segment is anticipated to expand during the forecast period, due to increased adoption of various digital tools and platforms in corporate training programs by companies and organizations. Such tools and platforms make online training interactive, mobile, and available on-demand for employees. Online training programs facilitate companies to create online libraries with training material to share it with their employees. Surging usage of smart devices and internet for acquiring knowledge instead of physical classrooms during the COVID-19 situation is expected to boost the market during the forecast period.
Retail segment is expected to expand at a rapid pace
On the basis of end-users, the market is divided into retail, financial services, pharmaceutical & healthcare, hospitality, government, manufacturing, it, business & professional services, and others. The retail segment is projected to fuel the market during the forecast period, due to rising corporate investments in employee and staff training in the retail sector. These trainings are aimed at improving sales and achieving customer satisfaction. Information Technology Enabled Services (ITES) and Business Process Outsourcing (BPO) industries require soft skills training programs to train their employees to provide quality services to customers, which spur the global corporate training market.
North America dominates the market
On the basis of regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to hold a large share of the market, owing to the presence of many organizations and Multinational Corporations (MNCs) in the region. Rising focus of these organizations and MNCs on increasing their employment rate to expand their geographical presence is expected to drive the global corporate training market during the forecast period. Presence of several key players such as GP Strategies Corporation, Pluralsight, Cornerstone OnDemand, Inc. and others in North America is anticipated to expand the market in the region. Moreover, economic stimulus packages introduced by governments in the region to ease the negative impact of COVID-19 on economy is estimated to spur the market during the forecast period.
Segments
The global corporate training market has been segmented on the basis ofTypes
- Technical Training
- Quality Training
- Soft-Skills
- Brand Training
- Compliance Training
- Safety Training
- Sales Training
- Product & Services Training
- Others
- Online
- Offline
- Instructor-led
- Self-led
- Blended
- Others
- Retail
- Financial Services
- Pharmaceutical & Healthcare
- Hospitality
- Government
- Manufacturing
- IT
- Business & Professional Services
- Others
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Adobe, Inc.
- Learning Technologies Group, Plc. (LTG)
- BizLibrary
- Allen Communication Learning Services
- Cornerstone OnDemand, Inc.
- City and Guilds Group
- Desire2Learn (D2L)
- Franklin Covey, Co.
- Simplilearn Solutions, Pvt. Ltd.
- GP Strategies Corporation
- Skillsoft, Ltd.
- Wilson Learning Worldwide, Inc.
- Cisco Systems, Inc.
- John Wiley & Sons, Inc.
- NIIT, Ltd.
- Udemy, Inc.
- The British Standards Institutions
- Pluralsight, Inc.
- Bureau Veritas
- TUV Nord
- Others
Competitive Landscape
The global corporate training market is highly competitive with the presence of key players such as Adobe, Inc.; Learning Technologies Group, Plc. (LTG); BizLibrary; Allen Communication Learning Services; Cornerstone OnDemand, Inc.; City and Guilds Group; Desire2Learn (D2L); Franklin Covey, Co.; Simplilearn Solutions, Pvt. Ltd.; GP Strategies Corporation; Skillsoft, Ltd.; Wilson Learning Worldwide, Inc.; Cisco Systems, Inc.; John Wiley & Sons, Inc.; NIIT, Ltd.; Udemy, Inc.; The British Standards Institutions; Pluralsight, Inc.; Bureau Veritas; TUV Nord, and others, who use strategies such as mergers, collaborations, acquisitions, partnerships, and product launches to strengthen their hold on the market. For example, in October 2021, Learning Technologies Group, Plc. (LTG), a London-based technology and service provider for digital learning, acquired GP Strategies Corporation, a provider of sales and technical training, to broaden its offering, scale, and cross-selling opportunities.
Frequently Asked Questions
Adobe, Inc.; Learning Technologies Group, Plc. (LTG) BizLibrary; Allen Communication Learning Services; Cornerstone OnDemand, Inc.; City and Guilds Group are some of the key players in the market.
Corporate training is important, as it enhances motivation, productivity, and efficiency of employees, and helps companies and organizations to achieve their business goals.
Online corporate training refers to training conducted with the help of online or virtual modules and platforms.
Technical training, quality training, soft-skills, brand training, compliance training, safety training, sales training, product & services training, and others are the types of corporate training.
The global corporate training market size was valued at around USD 332.8 billion in 2021 and is estimated to reach around USD 487.5 billion by 2030.
The global corporate training market is anticipated to expand at a CAGR of around 8% during the forecast period, 2024 – 2032.
Table Of Content
Chapter 1 Executive SummaryChapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Corporate Training Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Corporate Training Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Corporate Training Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Corporate Training Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Corporate Training Market Size & Forecast, 2023-2032
4.5.1 Corporate Training Market Size and Y-o-Y Growth
4.5.2 Corporate Training Market Absolute $ Opportunity
Chapter 5 Global Corporate Training Market Analysis and Forecast By Types
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Types
5.1.2 Basis Point Share (BPS) Analysis By Types
5.1.3 Absolute $ Opportunity Assessment By Types
5.2 Corporate Training Market Size Forecast By Types
5.2.1 Technical Training
5.2.2 Quality Training
5.2.3 Soft-Skills
5.2.4 Brand Training
5.2.5 Compliance Training
5.2.6 Safety Training
5.2.7 Sales Training
5.2.8 Product & Services Training
5.2.9 Others
5.3 Market Attractiveness Analysis By Types
Chapter 6 Global Corporate Training Market Analysis and Forecast By Methods
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Methods
6.1.2 Basis Point Share (BPS) Analysis By Methods
6.1.3 Absolute $ Opportunity Assessment By Methods
6.2 Corporate Training Market Size Forecast By Methods
6.2.1 Online
6.2.2 Offline
6.2.3 Instructor-led
6.2.4 Self-led
6.2.5 Blended
6.2.6 Others
6.3 Market Attractiveness Analysis By Methods
Chapter 7 Global Corporate Training Market Analysis and Forecast By End-users
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities By End-users
7.1.2 Basis Point Share (BPS) Analysis By End-users
7.1.3 Absolute $ Opportunity Assessment By End-users
7.2 Corporate Training Market Size Forecast By End-users
7.2.1 Retail
7.2.2 Financial Services
7.2.3 Pharmaceutical & Healthcare
7.2.4 Hospitality
7.2.5 Government
7.2.6 Manufacturing
7.2.7 IT
7.2.8 Business & Professional Services
7.2.9 Others
7.3 Market Attractiveness Analysis By End-users
Chapter 8 Global Corporate Training Market Analysis and Forecast by Region
8.1 Introduction
8.1.1 Key Market Trends & Growth Opportunities By Region
8.1.2 Basis Point Share (BPS) Analysis By Region
8.1.3 Absolute $ Opportunity Assessment By Region
8.2 Corporate Training Market Size Forecast By Region
8.2.1 North America
8.2.2 Europe
8.2.3 Asia Pacific
8.2.4 Latin America
8.2.5 Middle East & Africa (MEA)
8.3 Market Attractiveness Analysis By Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
9.1 Introduction
9.2 Current & Future Impact Analysis
9.3 Economic Impact Analysis
9.4 Government Policies
9.5 Investment Scenario
Chapter 10 North America Corporate Training Analysis and Forecast
10.1 Introduction
10.2 North America Corporate Training Market Size Forecast by Country
10.2.1 U.S.
10.2.2 Canada
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 North America Corporate Training Market Size Forecast By Types
10.6.1 Technical Training
10.6.2 Quality Training
10.6.3 Soft-Skills
10.6.4 Brand Training
10.6.5 Compliance Training
10.6.6 Safety Training
10.6.7 Sales Training
10.6.8 Product & Services Training
10.6.9 Others
10.7 Basis Point Share (BPS) Analysis By Types
10.8 Absolute $ Opportunity Assessment By Types
10.9 Market Attractiveness Analysis By Types
10.10 North America Corporate Training Market Size Forecast By Methods
10.10.1 Online
10.10.2 Offline
10.10.3 Instructor-led
10.10.4 Self-led
10.10.5 Blended
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis By Methods
10.12 Absolute $ Opportunity Assessment By Methods
10.13 Market Attractiveness Analysis By Methods
10.14 North America Corporate Training Market Size Forecast By End-users
10.14.1 Retail
10.14.2 Financial Services
10.14.3 Pharmaceutical & Healthcare
10.14.4 Hospitality
10.14.5 Government
10.14.6 Manufacturing
10.14.7 IT
10.14.8 Business & Professional Services
10.14.9 Others
10.15 Basis Point Share (BPS) Analysis By End-users
10.16 Absolute $ Opportunity Assessment By End-users
10.17 Market Attractiveness Analysis By End-users
Chapter 11 Europe Corporate Training Analysis and Forecast
11.1 Introduction
11.2 Europe Corporate Training Market Size Forecast by Country
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 U.K.
11.2.5 Spain
11.2.6 Russia
11.2.7 Rest of Europe
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Europe Corporate Training Market Size Forecast By Types
11.6.1 Technical Training
11.6.2 Quality Training
11.6.3 Soft-Skills
11.6.4 Brand Training
11.6.5 Compliance Training
11.6.6 Safety Training
11.6.7 Sales Training
11.6.8 Product & Services Training
11.6.9 Others
11.7 Basis Point Share (BPS) Analysis By Types
11.8 Absolute $ Opportunity Assessment By Types
11.9 Market Attractiveness Analysis By Types
11.10 Europe Corporate Training Market Size Forecast By Methods
11.10.1 Online
11.10.2 Offline
11.10.3 Instructor-led
11.10.4 Self-led
11.10.5 Blended
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis By Methods
11.12 Absolute $ Opportunity Assessment By Methods
11.13 Market Attractiveness Analysis By Methods
11.14 Europe Corporate Training Market Size Forecast By End-users
11.14.1 Retail
11.14.2 Financial Services
11.14.3 Pharmaceutical & Healthcare
11.14.4 Hospitality
11.14.5 Government
11.14.6 Manufacturing
11.14.7 IT
11.14.8 Business & Professional Services
11.14.9 Others
11.15 Basis Point Share (BPS) Analysis By End-users
11.16 Absolute $ Opportunity Assessment By End-users
11.17 Market Attractiveness Analysis By End-users
Chapter 12 Asia Pacific Corporate Training Analysis and Forecast
12.1 Introduction
12.2 Asia Pacific Corporate Training Market Size Forecast by Country
12.2.1 China
12.2.2 Japan
12.2.3 South Korea
12.2.4 India
12.2.5 Australia
12.2.6 South East Asia (SEA)
12.2.7 Rest of Asia Pacific (APAC)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Asia Pacific Corporate Training Market Size Forecast By Types
12.6.1 Technical Training
12.6.2 Quality Training
12.6.3 Soft-Skills
12.6.4 Brand Training
12.6.5 Compliance Training
12.6.6 Safety Training
12.6.7 Sales Training
12.6.8 Product & Services Training
12.6.9 Others
12.7 Basis Point Share (BPS) Analysis By Types
12.8 Absolute $ Opportunity Assessment By Types
12.9 Market Attractiveness Analysis By Types
12.10 Asia Pacific Corporate Training Market Size Forecast By Methods
12.10.1 Online
12.10.2 Offline
12.10.3 Instructor-led
12.10.4 Self-led
12.10.5 Blended
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis By Methods
12.12 Absolute $ Opportunity Assessment By Methods
12.13 Market Attractiveness Analysis By Methods
12.14 Asia Pacific Corporate Training Market Size Forecast By End-users
12.14.1 Retail
12.14.2 Financial Services
12.14.3 Pharmaceutical & Healthcare
12.14.4 Hospitality
12.14.5 Government
12.14.6 Manufacturing
12.14.7 IT
12.14.8 Business & Professional Services
12.14.9 Others
12.15 Basis Point Share (BPS) Analysis By End-users
12.16 Absolute $ Opportunity Assessment By End-users
12.17 Market Attractiveness Analysis By End-users
Chapter 13 Latin America Corporate Training Analysis and Forecast
13.1 Introduction
13.2 Latin America Corporate Training Market Size Forecast by Country
13.2.1 Brazil
13.2.2 Mexico
13.2.3 Rest of Latin America (LATAM)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Latin America Corporate Training Market Size Forecast By Types
13.6.1 Technical Training
13.6.2 Quality Training
13.6.3 Soft-Skills
13.6.4 Brand Training
13.6.5 Compliance Training
13.6.6 Safety Training
13.6.7 Sales Training
13.6.8 Product & Services Training
13.6.9 Others
13.7 Basis Point Share (BPS) Analysis By Types
13.8 Absolute $ Opportunity Assessment By Types
13.9 Market Attractiveness Analysis By Types
13.10 Latin America Corporate Training Market Size Forecast By Methods
13.10.1 Online
13.10.2 Offline
13.10.3 Instructor-led
13.10.4 Self-led
13.10.5 Blended
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis By Methods
13.12 Absolute $ Opportunity Assessment By Methods
13.13 Market Attractiveness Analysis By Methods
13.14 Latin America Corporate Training Market Size Forecast By End-users
13.14.1 Retail
13.14.2 Financial Services
13.14.3 Pharmaceutical & Healthcare
13.14.4 Hospitality
13.14.5 Government
13.14.6 Manufacturing
13.14.7 IT
13.14.8 Business & Professional Services
13.14.9 Others
13.15 Basis Point Share (BPS) Analysis By End-users
13.16 Absolute $ Opportunity Assessment By End-users
13.17 Market Attractiveness Analysis By End-users
Chapter 14 Middle East & Africa (MEA) Corporate Training Analysis and Forecast
14.1 Introduction
14.2 Middle East & Africa (MEA) Corporate Training Market Size Forecast by Country
14.2.1 Saudi Arabia
14.2.2 South Africa
14.2.3 UAE
14.2.4 Rest of Middle East & Africa (MEA)
14.3 Basis Point Share (BPS) Analysis by Country
14.4 Absolute $ Opportunity Assessment by Country
14.5 Market Attractiveness Analysis by Country
14.6 Middle East & Africa (MEA) Corporate Training Market Size Forecast By Types
14.6.1 Technical Training
14.6.2 Quality Training
14.6.3 Soft-Skills
14.6.4 Brand Training
14.6.5 Compliance Training
14.6.6 Safety Training
14.6.7 Sales Training
14.6.8 Product & Services Training
14.6.9 Others
14.7 Basis Point Share (BPS) Analysis By Types
14.8 Absolute $ Opportunity Assessment By Types
14.9 Market Attractiveness Analysis By Types
14.10 Middle East & Africa (MEA) Corporate Training Market Size Forecast By Methods
14.10.1 Online
14.10.2 Offline
14.10.3 Instructor-led
14.10.4 Self-led
14.10.5 Blended
14.10.6 Others
14.11 Basis Point Share (BPS) Analysis By Methods
14.12 Absolute $ Opportunity Assessment By Methods
14.13 Market Attractiveness Analysis By Methods
14.14 Middle East & Africa (MEA) Corporate Training Market Size Forecast By End-users
14.14.1 Retail
14.14.2 Financial Services
14.14.3 Pharmaceutical & Healthcare
14.14.4 Hospitality
14.14.5 Government
14.14.6 Manufacturing
14.14.7 IT
14.14.8 Business & Professional Services
14.14.9 Others
14.15 Basis Point Share (BPS) Analysis By End-users
14.16 Absolute $ Opportunity Assessment By End-users
14.17 Market Attractiveness Analysis By End-users
Chapter 15 Competition Landscape
15.1 Corporate Training Market: Competitive Dashboard
15.2 Global Corporate Training Market: Market Share Analysis, 2023
15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
15.3.1 Adobe, Inc.
15.3.2 Learning Technologies Group, Plc. (LTG)
15.3.3 BizLibrary
15.3.4 Allen Communication Learning Services
15.3.5 Cornerstone OnDemand, Inc.
15.3.6 City and Guilds Group
15.3.7 Desire2Learn (D2L)
15.3.8 Franklin Covey, Co.
15.3.9 Simplilearn Solutions, Pvt. Ltd.
15.3.10 GP Strategies Corporation
Methodology
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