Corporate Training Market worth $414 Billion by 2026 at a growth rate of 5.1% - IndustryARC
September 23, 2022
Rise of Video Based Learning of Corporate Training Market DriversHYDERABAD, TELANGANA, INDIA, September 23, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Corporate Training Market is estimated to surpass $414 billion mark by 2026 growing at an estimated CAGR of more than 5.1% during the forecast period 2021 to 2026. The rising costs of instructor-led, classroom-based training is one factor in the increased use of eLearning. Also, the need for continuous, life-long learning has gradually driven its growth. Corporate training refers to a system of professional development activities provided to educate employees. In simple terms it is referred as corporate education to train their employees on specific aspects of their job processes or responsibilities which are designed in-house. Corporate training includes certification of professional skills, skill building services, standardized quality content development and delivery. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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1. Corporate training is intended to enrich the professional skill set of employees through activities and lessons, and help them improve their work performance, resulting in organizational productivity.
2. The advent of the Internet has created a new platform for the corporate training market. Now conglomerates all over the world are heavily reliant on e-learning and other corporate models such as M-learning as these are considered to be the most time-saving solutions.
3. HR learning software is the most popular corporate training option for the companies this year. Most of the corporate companies are now preferring online HR modules to train their employees about the company regulations and rules. According to industry experts, companies are now interested in improving their HR technology. Furthermore, HR learning software has turned out to be an essential component in most of the corporate training regimens.
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1. Soft skills courses are a fast growing market in corporate training. Soft skills courses are delivered at both academic as well as commercial level through various programs which may be online i.e. m-based or through classroom also for the professional development.
2. Millennial generation estimated to project employees by 2025, grew up with mobile phones, laptops, and social media, so they expect the same type of access to technology at work.
3. North American region dominated the global Corporate Training market with a share of over 37% in 2020. The presence of a number of enterprises and the ballooning start-up culture in the region are the main factors supporting the corporate training market growth.
The top 5 players in the Corporate Training industry are -
1. Adobe Inc.
2. Cisco Systems Inc.
3. City & Guilds Group
4. D2L Corp.
5. Franklin Covey Co.
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