What are the Historical Developments and Current Growth Metrics of the Corporate Training Market?
The corporate training market has seen considerable growth due to a variety of factors.
• Over the past few years, there has been a consistent growth in the corporate training market size. It is projected to expand from $398.78 billion in 2024 to $417.43 billion in 2025, experiencing a compound annual growth rate (CAGR) of 4.7%.
Factors such as the development of emerging markets, augmented budgets for learning and development, larger infiltration of digital platforms, and heightened demand for mobile-based learning have contributed to the growth during the historic period.
What is the Forecasted Market Size and CAGR for the Corporate Training Market?
The corporate training market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the corporate training market size is projected to experience substantial growth, escalating to $514.38 billion in 2029 with a 5.4% compound annual growth rate (CAGR).
This growth during the forecast period can be credited to factors like governmental backing, the global surge in population and urbanization, a surge in demand for soft skills, and increased funding by online educational institutions. Key trends anticipated in the forecast period involve the usage of artificial intelligence (AI) to offer personalized learning experiences, technological progress to assist in skills development, the employment of augmented reality or virtual reality to design realistic simulations, strategic collaborations and acquisitions to enhance financial stability and geographic presence, advancements in product innovations focusing on integrated solutions, and the use of metaverse technology to facilitate cooperative learning scenarios.
What Factors Are Driving Growth In The Corporate Training Market?
The corporate training market will experience significant growth in forthcoming years, backed by the rising emphasis on soft skills. These skills consist of characteristics that affect a person's ability to interact effectively with others and handle social situations, not just hard technical capacities. Soft skills enable individuals to establish and manage relationships, overcome challenging situations and fulfill personal objectives. As stated in the 'Future of Jobs Report 2023', published by the World Economic Forum (WEF) in April 2023, there is an expanding requirement for soft skills. Employers intend to hone employees' soft skills such as leadership and social influence (identified by 40% of companies), resilience, flexibility, and agility (32%), and a desire for continual learning (30%). Harvard University, the Carnegie Foundation, and the Stanford Research Center, reported in September 2022, that 85% of professional success is attributed to refined soft skills and interpersonal abilities. Only 15% is credited to hard skills, including technical acumen and knowledge. Consequently, the escalating need for soft skills will boost the progression of the corporate training market in upcoming years.
What are the Market Segments in the Corporate Training Market?
The corporate training market covered in this report is segmented –
1) By Training Programs: Technical Training, Soft Skills Training, Quality Training, Compliance Training, Other Training Programs
2) By Training Methods: Virtual, Face-To-Face
3) By Industries: Healthcare, Banking And Finance, Manufacturing, IT (Information Technology), Retail, Hospitality, Other Industries
Subsegments:
1) By Technical Training: IT And Software Training, Engineering And Technical Skills, Product Knowledge And Development
2) By Soft Skills Training: Communication And Interpersonal Skills, Leadership And Management Skills, Conflict Resolution And Negotiation
3) By Quality Training: Total Quality Management (TQM), Six Sigma And Lean Training, Quality Assurance And Control
4) By Compliance Training: Regulatory Compliance, Data Protection And Privacy Training, Anti-Harassment And Ethics Training
5) By Other Training Programs: Customer Service Training, Sales And Marketing Training, Diversity And Inclusion Training
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What Trends are Shaping the Corporate Training Market?
Advancements in technology are becoming a significant trend in the corporate training industry. Prominent companies active in this market are focusing on the creation of new tech solutions to fortify their place in the corporate training sector. For example, in March 2024, Accenture Plc, a technology service enterprise based in Ireland, introduced Accenture LearnVantage, a broad-spectrum tech learning and training service designed to assist clients in reskilling and enhancing the skills of their workforce. This initiative helps organizations and government decision-makers to swiftly locate skills deficiencies due to technological evolution and to deliver industry-specific training in a timely manner. The service provides custom learning opportunities for various demographic segments, with tailored training in AI, data science, cloud, and cybersecurity for IT professionals, as well as generative AI training specifically intended for executives and business leaders.
Who Are the Key Players in the Corporate Training Market?
Major companies operating in the corporate training market include:
• Skillsoft
• Cornerstone OnDemand Inc
• John Wiley & Sons Inc
• Franklin Covey Co,Adobe Inc
• BTS Group AB
• D2L Corporation
• Blanchard Training and Development Inc.
• Simplilearn
• 24 Karat Training
• 27 Stars Consulting Group
• 2C Training Solutions
• 3 Seconds
• 361 Degree Minds
• 39Solutions
• Ultimahub
• Tang Cultural Media
• 17Career
• ACG
• AMC TRAINING LTD
• AOE ChinEase
• Art Of Education
• AUIA International Summer School
• Académie de Bernadac
• Action Education
• Adaptive Growth Solutions
• Amerlish
• Aplus Training
• Cegos China
• Beijing Champion Consulting Ltd
• People Business
• HewardMills
• Scaled
• NBT
• Cosmic Velocity
• Octave Digital
• Blimpp
• The Education and Skills Partnership Ltd
• Rocky.ai
• Changing Social
• Real Trainers Group
• Robot Albert
• Ros Expert
• Scrum Trek
• Founder Institute Ukraine
• Freedom Business Mentoring
• GAO Global
• GUARANTEE TNG
• Galaxy Education Centre
• Gestalt Coaching International
• Golden Staff Study
• Great Event School
• HUB ONE
• Canadian Management Centre
• Global Knowledge
• Cisco Systems Inc
• GP Strategies Corporation
• Wilson Learning Worldwide Inc
• FGV
• Insper
• Saint Paul Escola de Negócios
• ISAE Escola de Negócios
• UV CONSULTANTS
• CounselTrain
• Kompass Consultancy
• IIPD Global
• Kaplan Genesis
• Learners Point
• Centre for Management Development
• Institute of Chartered Accountants of Nigeria
• MasterStart
• Milpark Education
• NADIA Training Institute
• Nigeria Institute of Management
• Zabeel International Institute of Management and Technology
What are the Regional Insights into the Corporate Training Market?
North America was the largest region in the corporate training market in 2024. The regions covered in the corporate training market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
