Market Overview
The Global "Corporate Training Education Market" size was worth US$ YY million in 2023 and is estimated to record significant growth by reaching up to US$ YY million by 2031, growing at a high CAGR within the forecast period (2024-2031).
Corporate training, also known as corporate education or, more recently, workplace learning, is a system of activities designed to educate employees. While it benefits companies, it also benefits employees by acquiring and honing information and skills to advance professionally and personally.
In larger corporations, development or talent teams train the employees, but human resources are in charge in smaller businesses. They must determine the themes and requirements for training programs and make them available to employees. They are in charge of developing employee experience and journey strategies and roadmaps.
Market Summary
| Metrics | Details |
| Market CAGR | High |
| Segments Covered | By Training Method, By Training Program, By End-User, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
Tremendously improving the cost of instructor-led, classroom-based training has increased the demand for e-learning practices. Growing competition in the industry has increased the demand for corporate training sessions to boost employee morale and productivity.
Tremendously improving the cost of instructor-led, classroom-based training has increased the demand for e-learning practices.
Corporate training is a system of activities designed to educate employees. Earlier companies used to have a separate team responsible for carrying out the training session under the guidance of instructors; however, now these activities' costs vary based on different instructor costs. Furthermore, in offline training sessions, the knowledge is restricted and grows.
Thus, companies started adopting e-learning platforms that can be conducted anywhere globally on the good internet. Corporate e-learning training has overcome various challenges like other types of learning practices. Some of the features offered by corporate training education showed a positive effect on the growth of employees and companies are providing employees with career growth opportunities aligned with company objectives, goals, and strategies.
Furthermore, corporate training education also helps to upskill or maintain knowledge of current job-related tasks, enhancing or obtaining education, abilities, and skills for duties unrelated to the current job to achieve self-set goals. The mentioned advantages have uplifted the platform's market demand in recent times.
Growing competition in the industry has increased the demand for corporate training sessions to boost employee morale and productivity.
According to a LinkedIn survey, 94% of employees said they would commit to remaining at a firm longer if it invested in their professional development. Its number is complemented by the fact that 90% of top management believes that investing in their employee's career development is a positive need for its growth.
More importantly, companies focus on employees to make them capable of a wide range of responsibilities, experience, expertise, and skills. Creating a training program tailored to each of them will boost learning efficiency and return on investment. Well-structured L&D programs help employees get the knowledge and skills they need to improve their performance and job satisfaction, which leads to higher employee retention. Thus, companies' inclination towards employee growth has recently increased the market share for corporate training education.
High initial investments hurdle the market growth of corporate training education
The cost issue is the most significant barrier to the growth of the corporate training business. Despite its use in various industries such as healthcare, IT, and professional services, corporate training solutions are frequently too generic and expensive for these companies to implement.
Corporate training is accessible on the market, but it is costly. Thus it only attracts demand from a small segment of the market. Internal corporate training options will limit the external corporate training industry, which provides a highly personalized and less expensive choice.
COVID-19 Impact on Market
The pandemic of COVID-19 has negatively influenced the corporate training business. COVID-19 has resulted in the loss of around 195 million jobs globally. Furthermore, the pandemic has had the greatest impact on employment in% terms in Europe and the Arab world.
As a result of the global economic downturn, business sectors faced budget limits, which R&D teams had to deal with, and many obstacles in demonstrating the ROI of their training programs.
Market Segmentation
The global corporate training education market is segmented based on training methods, training programs, industry, and region.
Technical training aids in the development, design, implementation, support, maintenance, and operation of technology or any related application, product, or service in various industries
The global corporate training education market based on training programs is segmented into technical, soft skills, quality, compliance, and others. In 2019, the technical skill category accounted for the largest proportion of the global corporate training market by training program due to the advantages that come with it.
The segment aids in developing, designing, implementing, supporting, maintaining, and operating technology or any related application, product, or service in various industries. For instance, technical training in the retail industry can include teaching employees how to utilize a computer system to ring up consumers. Technical training in sales may entail educating staff on finding new prospects or leads using a customer relationship management (CRM) system.
Source: DataM Intelligence Analysis (2023)
Market Geographical Share
The presence of many MNCs and large organizations in North America coupled with the increasing focus of many MNCs in the region has accelerated the market share for corporate training education over the past few years
North American region dominated the global corporate training market significant technological advances in e-learning services and technologies are credited with this large market share. The existence of several businesses and the region's burgeoning start-up culture are the primary drivers of the corporate training market's expansion.
The corporate training markets in APAC and Europe, on the other hand, are trailing behind, owing to an increase in government-funded programs in rural areas, fueled by the rapid adoption of e-learning methodologies.
Source: DataM Intelligence Analysis (2023)
Companies and Competitive Landscape
The corporate training education market is highly competitive with the presence of local as well as global companies. Some prime companies contributing to the market's growth include Adobe Inc., D2L Corp., Franklin Covey Co., Cisco Systems Inc., City & Guilds Group, GP Strategies Corp., Skillsoft Ltd., John Wiley & Sons Inc., NIIT Ltd., and Wilson Learning Globally and among others.
The major companies are adopting several growth strategies such as acquisitions, product launches, and collaborations, contributing to the growth of the corporate training education market globally.
- For instance, On January 6, 2020, Curricula announced that it has received a $3 million growth investment from RCP Equity to help it continue to build its entertaining, story-based security awareness training platform.
D2L Corporation
Overview: D2L is changing the way the world learns, enabling students of all ages to achieve more than they ever imagined. D2L supports millions of individuals learning online and in-person by working closely with clients globally. The company is expanding globally and is committed to creating the finest learning products possible to leave the world a better place than it found it.
Product Portfolio: The company has a product portfolio of corporate training education that includes:
- D2L Wave: D2L Wave connects employees to educational opportunities that benefit their career paths as well as the company's business plan, promoting lifelong learning and providing future-proofed capabilities.
Key Development
- For instance, on July 7, 2021, Global learning technology leader D2L announced the launch of the D2L Wave. The platform is a bold new approach to professional development. It makes it easy for employees to gain new skills by accessing an online catalog of high-quality education options from leading educational institutions.
Why Purchase the Report?
- Visualize the global corporate training education market segmentation by training method, training programs, industry, and region, highlighting key commercial assets and players.
- Identify commercial opportunities in the global corporate training education market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of global corporate training education market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global corporate training education market report would provide approximately 61 market data tables, 56 figures, and 180 pages.
Target Audience 2024
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
- Logistics companies
- Distributors
