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The cross-cultural training market is estimated to grow at a CAGR of 7.05% between 2022 and 2027 and the size of the market is forecast to increase by USD 1,802.14 million. Furthermore, the report includes historic market data from 2017 to 2021. This report extensively covers market segmentation by Deployment such as workshops and online. The End-user segment such as large enterprises, small, and medium enterprises.
North America is estimated to contribute 31% to the growth of the global market during the forecast period. The US, Canada, and Mexico are the major markets for the growth of the market in focus in the region.
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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.
Aperian Global - The company offers cross-cultural training, namely Cultural competence. Also, this segment focuses on providing professional services such as consulting, training and online learning tools to build both knowledge and skills.
The 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.
North America is expected to contribute 31% of the global market growth during the focus period. Most technology giants that have global operations, including Microsoft, AT and T, IBM, international banks, insurance companies, and others, have their headquarters in the US. These organizations have several hundreds of employees from different educational and cultural backgrounds. This has resulted in increasing demand to ensure that all the employees are technically on the same page to align their personal goals with business goals. These aspects are spurring the adoption of cross-cultural training programs. Companies in North America are investing heavily in training employees working in different locations. As the economy in many developing countries is improving, more North American companies are looking to expand and establish offices in these countries.
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The outbreak of COVID-19 in 2020 adversely affected the business activities and economy of the region. The surge in the number of COVID-19 cases in various countries in the region influenced governments to introduce emergency legislation, which led to the shutdown of schools, colleges, offices, and other business units. This affected the region's economic growth in 2020. Therefore, the demand for cross-cultural training declined, which slowed down the market's growth in the region. However, the demand for efficient and skilled employees is expected to increase the demand for cross-cultural training during the forecast period. Therefore, the cross-cultural training market is expected to grow during the forecast period.
The workshop segment showed a gradual increase in market share with USD 2,239.81 million in 2017 and continued to grow by 2021.
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The workshop model will remain prevalent during the forecast period. The model provides learners with a more realistic and practical mode of learning as most of the interactions happen face-to-face with trainers. This model of training generally consists of innovative training methods, such as role-play and case studies. However, the limited training time and high training costs are challenges to the growth of the market. Nevertheless, as the learning retention rate is high in this model, employers will continue to favor the workshop model over the online model, resulting in the sustained growth of this segment during the forecast period.
The growth of this segment is primarily attributed to the increasing adoption of Cross-cultural Training, which is driven by an increase in the global demand for the Cross-cultural Training Industry.
The innovative features and user interfaces are notably driving the market growth, although factors such as growing demand for the high costs associated with expatriate training failure may impede the market growth. 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.
Key Driver
Significant Trend
Major Challenge
Key Cross-cultural Training Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cross-cultural Training Market Customer Landscape
The 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.
Cross-cultural Training Market Scope |
|
Report Coverage |
Details |
Page number |
152 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.05% |
Market growth 2023-2027 |
$ 1802.14 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.78 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 31% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aperian Global Inc., Babel Language Consulting, Commisceo Global Consulting, Coursera Inc., Creative Culture Ltd., Cultural Savvy and Joyce Millet, Dwellworks LLC, ELM Learning, Global Business Culture, Global Integration Inc., Global Training Partners, Learnlight Software S.L.U., Pearson Plc, PRISM International Inc., RW3 LLC, Smart Culture, The London School of English, Udemy Inc., and Wolfestone Translation Ltd. |
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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