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The US - corporate training market size is estimated to grow at a CAGR of 6.49% between 2022 and 2027. The market size is forecast to increase by USD 12,906.91 million. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by product (technical courses and non-technical courses), method (blended learning, offline learning, and online learning), end-user (manufacturing, healthcare, BFSI, IT, and others). This report also includes an in-depth analysis of drivers, trends, and challenges.
Rising emphasis on personalization in corporate training is the key factor driving the growth of the market. Companies are increasingly preferring corporate training programs that offer a high degree of personalization to address specific learning objectives and knowledge gaps of employees. Moreover, US - corporate training market players encourage coaching and mentoring as vital aspects of personalized training in the workplace. Market players also provide efficient learner feedback mechanisms and real-time workplace scenarios to enhance personal skill development and map training progress. Therefore, the rising popularity of personalized training in organizations is anticipated to drive the growth of the market during the forecast period.
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Companies 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.
The US corporate training market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the technical courses segment will be significant during the forecast period. Technical courses focus on training employees on knowledge and skills that are essential and relevant to specific industries. These courses are largely comprised of training related to plant or facility management, new recruitment fundamentals, product and software feature training, programming language training, sales training, and process safety management, among others. Market players offer a range of blended, offline, and online technical courses for a variety of technical requirements.
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The technical courses segment showed a gradual increase in the market share of USD 19,093.77 million in 2017. Organizations are increasingly adopting blended learning approaches to train their employees on technical courses. Moreover, the US - corporate training market players are extensively focusing on offering technical courses with respect to the job opportunities available in the US. To induce the need for such technical courses, market players are actively engaging in research and publishing a list of top IT courses in demand. Thus, such factors will drive the growth of the market segment during the forecast period.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing prominence of gamification is the primary trend shaping market growth. Gamification in corporate training involves the application of game-like elements in corporate training to enhance learner attention. Game-based learning is being increasingly perceived as a crucial aspect of corporate training due to its effectiveness in engaging employees and ensuring better knowledge retention.
Moreover, players such as BTS and CoreAxis offer a range of game-based learning content and solutions for corporate training. Furthermore, the e-learning content in the KTB suite is composed of interactive simulations and game-based learning exercises to ensure better learning effectiveness. Thus, the rising prominence of gamification in learning is expected to characterize the growth of the market during the forecast period.
The growing prominence of MOOCs in corporate learning is a challenge that affects the growth of the market. Some organizations are investing in the creation of personalized massive open online courses (MOOCs) tailor-made to their core competencies and requirements. Moreover, 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.
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. Therefore, the rising prominence of MOOCs as a cost-effective alternative to corporate training is expected to impede market growth during the forecast period.
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.
US Corporate Training Market Customer Landscape
The US corporate training market 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.
US Corporate Training Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.49% |
Market growth 2023-2027 |
USD 12,906.91 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.31 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
2U Inc., Adobe Inc., Benesse Holdings Inc., BYLD Group., Cisco Systems Inc., City and Guilds Group, D2L Corp., DEMOS, Development Dimensions International Inc., Franklin Covey Co., Interaction Associates Inc., John Wiley and Sons Inc., Learning Tree International Inc., Mind Gym Plc, NIIT Ltd., Skillsoft Corp., Stride Inc., Wilson Learning Worldwide Inc., Udemy Inc., and Learning Technologies Group Plc |
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 the 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 Product
7 Market Segmentation by Method
8 Market Segmentation by End-user
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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