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Corporate Training Market in US Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: Jan 2021
  • Pages: 120
  • SKU: IRTNTR40580
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The corporate training market share in US is expected to increase by USD 19.51 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 10%.

This corporate training market research report of US provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (technical courses and non-technical courses), end-user (manufacturing, healthcare, BFSI, IT, and others), and method (blended learning, offline learning, and online learning). The corporate training market report of US also offers information on several market vendors, including Adobe Inc., Cisco Systems Inc., City & Guilds Group, D2L Corp., Franklin Covey Co., GP Strategies Corp., John Wiley & Sons Inc., NIIT Ltd., Skillsoft Ltd., and Wilson Learning Worldwide Inc. among others.

What will the Corporate Training Market Size in US be During the Forecast Period?

Corporate Training Market Size

Download the Free Report Sample to Unlock the Corporate Training Market Size in US for the Forecast Period and Other Important Statistics

Corporate Training Market in US: Key Drivers, Trends, and Challenges

The emergence of cost effective e-learning training modules is notably driving the corporate training market growth in US, although factors such as the growing prominence of MOOCs in corporate learning may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the corporate training industry in US. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Corporate Training Market Driver in US

One of the key factors driving growth in the corporate training market is the emergence of cost-effective e-learning training modules. Organizations are increasingly adopting innovative and cost-effective ways to train their employees. The transition of organizations from conventional training to e-learning helps them in saving employees' working hours, and it is convenient to maintain, update, and store information more effectively. Therefore, vendors are introducing solutions, technologies, systems, and courses at affordable prices to corporations buying them in bulk quantities to meet the demand of their employees. The growing popularity of online learning has helped employees in saving their time and money in reskilling themselves, unlike enrolling in conventional training sessions conducted in corporations that consume more time in addition to the regular working hours. Therefore, the use of affordable solutions or technologies with lower prices is expected to drive the growth of the corporate training market in US during the forecast period.

Corporate Training Market Trend in US

The emergence of IoT and wearable devices is one of the key trends supporting the corporate training market share growth. The Internet of Things and wearable devices have gained traction in the corporate training industry over the last few years. This is owing to the rapid adoption of digital solutions to implement e-learning. Wearable devices or apps are emerging as the most convenient and time-saving solutions, right from logging attendance of trainees to monitoring their performances in an Internet-enabled room. Smart glasses such as Google Glass and smartwatches, such as the Apple Watch, are rapidly gaining popularity among audiences and corporate trainers to create interactive and immersive learning experiences. The concept of the IoT is expected to exhibit a promising scope for corporate training in different industries, including healthcare, manufacturing, Information Technology-enabled Services (ITeS), and other related services.

Corporate Training Market Challenge in US

The rising popularity of massive open online courses (MOOCs) as a viable alternative to corporate training in organizations has been a key challenge to the growth of the corporate training market in US over the last few years. Several organizations are investing in the creation of personalized MOOCs tailor-made to their core competencies and requirements. The popularity of MOOCs is growing among organizations that require large-scale training programs for employees. MOOCs offer several advantages, such as the centralization of training components and assessments at a lower cost when compared with conventional corporate training methods. MOOCs can generally be availed free of cost by employees, with a nominal fee charged for advanced course content and certification. In addition, MOOCs provide flexible and mobile access to learning content and encourage real-time, on-the-job learning at par with conventional corporate training services. Thus, the growing prominence of MOOCs as a cost-effective alternative to corporate training is expected to hamper the market growth during the forecast period.

Parent Market Analysis

Technavio categorizes the global corporate training market as a part of the global education market (also referred to as the global education services market). The parent, global education market, covers products, services, and solutions that are offered to educational institutions, corporate institutions, students, parents, individuals, and teachers. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market in focus during the forecast period.

This corporate training market analysis report of US also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Market Overview

The parent market, global education services market, covers products, services, and solutions that are offered to educational institutions, corporate institutions, students, parents, individuals, and teachers. The following factors are expected to drive the growth of the global education services market: Increasing importance of science, technology, engineering and mathematics (STEM) education: Increasing job opportunities in the STEM fields is one of the major reasons for the increasing popularity of these courses among students globally. 

Who are the Major Corporate Training Market Vendors in US?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Adobe Inc.
  • Cisco Systems Inc.
  • City & Guilds Group
  • D2L Corp.
  • Franklin Covey Co.
  • GP Strategies Corp.
  • John Wiley & Sons Inc.
  • NIIT Ltd.
  • Skillsoft Ltd.
  • Wilson Learning Worldwide Inc.

 

This statistical study of the corporate training market in US encompasses successful business strategies deployed by the key vendors. The corporate training market in US is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Adobe Inc. - In July 2021, the company launched Adobe Analytics for higher education to advance digital literacy
  • Cisco Systems Inc  - In July 2021, the company acquired Socio Labs, an event company
  • John Wiley and Sons Inc. - In March 2021, the company partnered with NUS Advanced Computing for Executives to launch global certification program aimed to close technology skills gap.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The corporate training market forecast report of US offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Corporate Training Market Value Chain Analysis in US

Our report provides extensive information on the value chain analysis for the corporate training market in US, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of education services includes the following core components:

  • Inputs
  • Operations
  • Marketing and sales
  • Support activities
  • Innovations

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

What are the Revenue-generating Product Segments in the Corporate Training Market in US?

Corporate Training Market Market segmentation by region

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The corporate training market share growth in US by the technical training segment will be significant during the forecast period. It is expected to register a steady growth during the forecast period owing to the rising need for skilling employees on continuously evolving technologies. Rising initiatives from the Government of India, such as the Make in India mission and the Chinese government's inclination to support the manufacturing sector, are expected to boost the growth of manufacturing jobs in the long run. This will eventually lead to an increasing need for offering technical training to employees in the manufacturing sector during the forecast period.
In the technical training market segment, IT accounts for the majority of the market share. The technical skills training in the IT sector is usually driven by the growing concern of employers for improving the database and programming skills of employees. Most of the vendors offer training tools to improve the programming/testing skills of employees. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the corporate training market size in US and actionable market insights on post COVID-19 impact on each segment.

 

Corporate Training Market Scope in US

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 10%

Market growth 2021-2025

$ 19.51 billion

Market structure

Fragmented

YoY growth (%)

9.31

Regional analysis

US

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Companies profiled

Adobe Inc., Berlitz Corp., Blanchard Training & Development Inc., BTS Group AB, Cisco Systems Inc., City & Guilds Group, D2L Corp., DEMOS SA, Development Dimensions International Inc., edX Inc., Franklin Covey Co., GP Strategies Corp., Interaction Associates Inc., John Wiley & Sons Inc., Learning Tree International Inc., MedCerts LLC, Mind Gym Plc, NIIT Ltd., PinPoint Workforce Inc. Richardson, Simplilearn Solutions Pvt. Ltd., Skillsoft Ltd., TrainSmart Inc., Udemy Inc., and Wilson Learning Worldwide Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Corporate Training Market Report of US?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive corporate training market growth in US during the next five years
  • Precise estimation of the corporate training market size in US and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of corporate training market vendors in US

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2019
    • Market outlook: Forecast for 2019 - 2024

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Technical courses - Market size and forecast 2019-2024
    • Non-technical courses - Market size and forecast 2019-2024
    • Market opportunity by Product

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Manufacturing - Market size and forecast 2019-2024
    • Healthcare - Market size and forecast 2019-2024
    • BFSI - Market size and forecast 2019-2024
    • IT - Market size and forecast 2019-2024
    • Others - Market size and forecast 2019-2024
    • Market opportunity by End-user

    Market Segmentation by Method

    • Market segments
    • Comparison by Method
    • Blended learning - Market size and forecast 2019-2024
    • Offline learning - Market size and forecast 2019-2024
    • Online learning - Market size and forecast 2019-2024
    • Market opportunity by Method

    Customer landscape

    • Volume driver - Demand led growth
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Adobe Inc.
    • Cisco Systems Inc.
    • City & Guilds Group
    • D2L Corp.
    • Franklin Covey Co.
    • GP Strategies Corp.
    • John Wiley & Sons Inc.
    • NIIT Ltd.
    • Skillsoft Ltd.
    • Wilson Learning Worldwide Inc.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
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    Corporate Training Market in US market growth will increase by $19.51 bn during 2021-2025.
    The corporate training market in us market is expected to grow at a CAGR of 10% during 2021-2025.
    Technavio has segmented the corporate training market in us market by product (Technical courses and Non-technical courses) ,end-user (Manufacturing, Healthcare, BFSI, IT, and Others) , and geographic (US).
    Adobe Inc., Cisco Systems Inc., City & Guilds Group, D2L Corp., Franklin Covey Co., GP Strategies Corp., John Wiley & Sons Inc., NIIT Ltd., Skillsoft Ltd., Wilson Learning Worldwide Inc. are a few of the key vendors in the corporate training market in us market.
    US will register the highest growth rate of 100% among the other regions. Therefore, the corporate training market in us market in US is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the corporate training market in us market growth are:
    • emergence of cost effective e-learning training modules
    • growing emphasis on flexible learning platforms
    The corporate training market in us market vendors should focus on grabbing business opportunities from the technical courses segment as it accounted for the largest market share in the base year.
    • What are the key global market and the regional market share?
    • What are the revenue-generating key market segments?
    • What are the key factors driving and challenging this market’s growth?
    • Who are the key market vendors and their growth strategies?
    • What are the latest trends influencing the growth of this market?
    • What are the variables influencing the market growth in the primary regions?
    • What are the factors influencing the growth of the parent market?
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