The Corporate Training Global Market Report 2023 by The Business Research Company, provides corporate training market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Corporate Training Global Market Report 2023, the market size is expected to grow from $363.26 billion in 2022 to $380.70 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global corporate training is expected to grow to $460.04 billion in 2027 at a CAGR of 4.8%.
The utilization of AI in corporate training is expected to propel the growth of the corporate training market going forward. Artificial intelligence refers to the replication of human intelligence in robots that are engineered to think and act like humans. AI in corporate learning improves training efficiency and effectiveness. However, the benefits of a learning management system (LMS) with strong artificial intelligence capabilities become even more beneficial when it comes to developing a long-term healthy learning culture.
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The corporate training market is segmented:
1) By Training Programs: Technical training, Soft skills training, Quality training, Compliance training, Other training programs
2) By Training methods: Virtual, Face-to-face
3) By Industries: Healthcare, Banking & Finance, Manufacturing, IT, Retail, Hospitality, Other Industries
Technological advancements are a key trend gaining popularity in the corporate training market. Major companies operating in the corporate training are focused on developing new technological solutions to strengthen their position in the corporate training market. For instance, in July 2021, Adobe Inc., a US-based creative cloud and digital marketing company, launched Adobe Analytics. This technology is a global program that provides in-demand data science skills to the future workforce. College professors and students will be able to utilize Adobe Analytics, the industry-leading consumer data analytics platform, for free as part of the next generation of the Adobe Education Exchange, as well as have access to the course curriculum with hands-on activities.
The corporate training market report table of contents includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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