Corporate Training Market Size to Grow with CAGR of 8% by 2031 | SkyQuest Technology
Westford, USA, Dec. 13, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Global Corporate Training Market Share will reach a value of USD 487.3 Billion by 2031, with a CAGR of 8% during the forecast period (2024-2031). Rapid advancements in technology, which focus attention on reskilling and upskilling, coupled with increasing attention to the development of talent are key, increasing regulatory compliance, and increasingly remote work. The increasingly important role of soft skills and diversity initiatives, thereby creating a dynamic and continually expanding market environment, further boosts the demand for specialist programs.
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Browse in-depth TOC on the “Corporate Training Market”
- Pages – 157
- Tables – 70
- Figures – 75
Corporate Training Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 163.58 Billion |
| Estimated Value by 2031 | USD 487.3 Billion |
| Growth Rate | Poised to grow at a CAGR of 8% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Training Program, Mode of Training, Industry, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Growing Importance of Corporate Training |
| Key Market Opportunities | Growth of Online Training Platforms |
| Key Market Drivers | Increasing Demand for Upskilling |
Quality Training Dominance Owing to Continuous Learning Culture
Throughout the projection period, quality training is expected to remain the market leader in the corporate training industry. The culture of excellent training, which is shaped by ongoing learning, is very helpful in enhancing employees’ skills, which in turn boosts productivity and efficiency inside businesses. Good training enhances workers’ morale and satisfaction thus reducing attrition and enhancement of retention. It is also what allows an organization to hold on to competitive advantage, as it brings the staff up to standards of best practices in its industry. Quality training focusing on organizational aims and objectives caters to specific needs and overcomes certain constraints.
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FMCG Sector Leading Corporate Training Market Driven by Competitive Dynamics
As per our recent report, FMCG business segment led in 2023, and, according to trends, it will prevail throughout the projection period. FMCG operates in a dynamic highly competitive space and to win one should have speedy inventions and responses. The teams working within the FMCG are also large with geographical distribution. A large number of such big teams demand gigantic training programs so that consistency can be managed with geographies. This is because FMCG has to be competitive, operate effectively, and deliver a premium client experience. This forms some of the factors that contribute to it dominating the corporate training market.
North America’s Leadership is Driven by Innovation and Lifelong Learning Culture
As per the corporate training market trends, North America held the highest market share. International companies across multiple industries exist in North America, and there is therefore a need for highly integrated training programs to sustain innovation and competitiveness. There is also a sound economy, and the culture of North America promotes lifelong learning and career progression and encourages businesses to heavily invest in training for the workforce. It’s also easy to distribute quality training material in front of an excellent number of audiences because of the advanced digital learning platforms and technological infrastructures that are advanced in North America. These factors highlight why North America continues focusing on knowledge and skill development in the workplace, sustaining its leading position in the market.
Corporate Training Market Insights
Drivers
- Rising Demand for Upskilling
- Emphasis on Employee Retention
- Rise of Soft Skills Training
Restraints
- Budget Constraints in Organizations
- Diverse Workforce Needs
- Resistance to Change from Employees
Key Players Operating Within the Corporate Training Market
The following are the Top Corporate Training Companies
- Allen Communications Learning Services
- Bizlibrary
- Simplilearn Solutions
- Cornerstone Ondemand Inc.
- GP Strategies Corporation
- D2L Corporation
- Skill Soft
- City & Guilds Group
- Wilson Learning Worldwide Inc.
- Franklin Covey Co.
Key Questions Covered in the Global Corporate Training Market Report
- What is the base year calculated in the corporate training industry report?
- Which are the key players holding a significant share in the market?
- Which segment accounted for the largest share in 2023?
- What are the key market trends?
- What will the size of the market be by 2031?
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This report provides the following insights:
- Analysis of key drivers (rise of soft skills training, increasing demand for upskilling), restraints (budget constraints in organizations, diverse workforce needs) opportunities (industry-specific training programs, corporate social responsibility initiatives), and challenges (maintaining training quality) influencing the growth of the corporate training market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the corporate training market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the corporate training market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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