Overview of the global corporate workforce development training market
Research analysis on the global corporate workforce development training market identifies that the increasing need to strengthen the employee induction program is one of the major factors that will have a positive impact on the growth of the market. Workforce development training programs help employees to gain a fundamental understanding of the functioning aspects of the respective organization. This increase in understanding levels, in turn, will enhance the overall knowledge of employees. It also helps employers to carry out the employee performance evaluation and track their performance using performance management tools. These training programs also offer a guideline to the employee on ethics and practices to be followed in their respective organization. Consequently, it will support them to manage critical situations at workplaces by providing them an understanding of the real-time scenarios of the workforce. This will encourage a large number of enterprises in the emerging economies to adopt workforce development program. According to the corporate workforce development training market analysis, Technavio’s market research analysts predict that this market will grow at a CAGR of more than 13% by 2021.
The provision of development training via social collaboration tools is identified as one of the key trends that will gain traction in the global corporate workforce development training market throughout the estimated period. The incorporation of social media platforms such as the Twitter and LinkedIn within the learning environment is expected to support employees to engage in active, collaborative, and informal learning through blogs, wikis, and discussion forums. This factor will significantly contribute to the corporate workforce development training market size.
Competitive landscape and key vendors
The corporate workforce development training market is highly fragmented and is characterized by the presence of key vendors and other prominent vendors. Key vendors are increasingly focusing on creating awareness about the corporate workforce development courses and their benefits. Global vendors are trying to stabilize themselves in the market, whereas, regional vendors are focusing on product offerings to establish themselves in the market. Vendors are providing a diversified range of product lines intensifying the competitive scenario.
Key vendors in this market are -
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Eton Institute
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LearnQuest
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NIIT
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Pearson
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Wilson Learning
Other prominent vendors in the market include CARA Group, CTU, Dale Carnegie Training, GP Strategies, InfoPro Learning, Raytheon, and Skillsoft.
Segmentation by learning method and analysis of the corporate workforce development training market
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Online learning
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Instructor-led learning
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Blended learning
The demand for instructor-led training in corporations is high in comparison to the blended learning and online learning primarily due to the persistent need for specific industry-related technical training in a classroom environment. Also, it has been observed that the risk involved in misinterpretation of concepts in the healthcare industry is high. This drives the need to conduct the workforce development training in a classroom environment to ensure the appropriate understanding of concepts.
Segmentation by geography and analysis of the corporate workforce development training market
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North America
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Europe
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APAC
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ROW
The market for the corporate workforce development training is witnessing growth in North America due to the rising demand for the quality training and performance management. Workforce development training programs provide formal training by helping the organization in sharing the advanced and innovative new technologies and best practices with their employees.
Key questions answered in the report include
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What will the market size and the growth rate be in 2021?
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What are the key factors driving the global corporate workforce development training market?
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What are the key market trends impacting the growth of the global corporate workforce development training market?
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What are the challenges to market growth?
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Who are the key vendors in the global corporate workforce development training market?
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What are the market opportunities and threats faced by the vendors in the global corporate workforce development training market?
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What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?
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What are the key outcomes of the five forces analysis of the global corporate workforce development training market?
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