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The compliance training market in higher education institutions market in US size is estimated to grow at a CAGR of 15.15% between 2022 and 2027 and the size of the market is forecast to increase by USD 1,389.49 million. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by Type (offline learning and online learning) and End-user (academic staff and students). This report also includes an in-depth analysis of drivers, trends, and challenges.
Growing demand for customized courses is a key factor driving the higher education market. Each institution has unique requirements, making off-the-shelf compliance training ineffective. Therefore, higher education institutions are increasingly opting for customized training, leading vendors like Skillsoft and Campus Answers to offer tailored courses. Porzio Compliance Services designs customized courses for colleges and universities. Additionally, mobile learning adoption is on the rise due to the popularity of BYOD policies, leading vendors to offer online compliance training programs supported by mobile devices and LMS. Vendors like Porzio Compliance Services and EverFi offer online compliance training courses using gamification and interactive learning to maintain learner motivation. The market is expected to grow significantly due to such tailored courses.
The continuous need for compliance with federal regulations and the rise in the international student population are other key factors driving the market growth.
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Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ACPA - The company offers compliance training solutions such as COMPLIANCE. Also, this segment focuses on providing in-person recruitment tools, scholarships for higher education, and other services.
The compliance training market in higher education institutions market in US report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the offline learning segment will be significant during the forecast period. The market by offline learning is gradually losing its market share due to the increased adoption of new formats of learning that include online learning and blended learning. This method of learning is increasingly adopted due to the rise in penetration of the Internet and the growing adoption of technology in educational institutions. The introduction of on-demand and self-paced online courses and blended learning courses using virtual classrooms and webinars also contribute to the growth of this market. The increasing adoption of gamification and interactive learning in educational institutions in the US further poses a challenge to this market.
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The offline learning segment was valued at USD 565.16 million in 2017 and continue to grow by 2021. In this segment, the market is expected to record a steady growth rate during the forecast period. Offline learning generally includes classroom-based learning where learners can interact with instructors in person. However, due to the introduction of online learning, offline courses have become monotonous. Online learning allows students to access course content according to their convenience and is also more cost-effective when compared with classroom-based courses. Therefore, the market for online learning is expected to gain prominence during the forecast period.
Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Microlearning, also known as bite-sized learning, is an effective platform for compliance training. This training method delivers short videos, animations, and infographics to learners in small modules, improving their understanding and retention rates. It also supports individual learning styles, allowing organizations to create content in various formats. Microlearning can be used alongside formal training sessions or as standalone activities, and its mobile-compliant materials make it suitable for self-paced learning. Organizations can deliver accurate information at their convenience using these short courses.
One major factor impeding market growth is cuts in state budgets for college and university grants, resulting from weak state tax revenue in 2017. This led to budget deficits in many states, affecting employee salaries, pensions, and student enrollments with scholarships. Constrained state budgets may reduce funding for public colleges and universities, preventing the implementation of high-quality support systems like LMS for online training. This could result in inefficient compliance training due to insufficient infrastructure and decreased funding.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Compliance Training Market in Higher Education Institutions Market in US Customer Landscape
The compliance training market in higher education institutions market in US report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Compliance Training Market In Higher Education Institutions Market In US Scope |
|
Report Coverage |
Details |
Page number |
105 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.15% |
Market growth 2023-2027 |
USD 1,389.49 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
12.22 |
Regional analysis |
US |
Performing market contribution |
North America at 100% |
Key countries |
US and North America |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACPA, City and Guilds Group, EVERFI Inc., LRN Corp., Maximus Consulting Ltd., Porzio Compliance Services LLC, Skillsoft Corp., and Vector Solutions LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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