The report titled “US Corporate Training Market Outlook
to 2025 – Driven by Growing Skill Gap with Disrupting Technology Stack and
Penetration of Self-Paced, Live Instructor-Led Online Training Modes" provides a
comprehensive analysis of the Corporate Training Market in the USA. The report
also initiative by explaining the need and opportunity of the corporate
training industry. Further, it proceeds with an explanation of current demand
and demand by different segments. It also includes the trends, developments,
challenges, technological stack, revenue streams, marketing strategies and
government regulations driving the industry. It gives a detailed explanation of
competitive scenarios including cross-comparison between major players,
Porter’s Five Force analysis and detailed company profiles of major players. It
concludes with future scope and analyst recommendations.
Market Overview and Demand
Scenario
Low employee retention,
growing skill gap, low college enrollment and the increasing cost of
ineffective training were some of the important pain points of companies that
lead to the introduction of the corporate training industry. The USA Corporate
training industry is currently positioned to be at a late growth stage. The
demand is increasing with a CAGR close to 5% during the period 2014-2019. There
is an increasing trend in the use of Microlearning modules, experimental
training and development of customized and specific training solutions.
Demand by End-User
Industry (BFSI, IT and Telecom, Healthcare, Automotive, Manufacturing, and
others)
The growing importance of
cyber-security with increasing use of digital banking technologies including
digital banking, Blockchain and others have led to increasing demand for
training in the BFSI industry. Data Science & Analytics and Big Data
Programs has revolutionized the IT and telecom Industry leading to quick
outdating of skills among its employees. In the healthcare industry the
training demand is driven during the need of disease prevention training such
as training to deal with highly infectious diseases such as Coronavirus, Ebola,
SARS, etc. Introduction of electric & automated vehicles and development in
3D Printing technology is driving the demand in the automotive and
manufacturing industries respectively.
Demand By Delivery Mode
(Classroom Training, Blended Training, Virtual Training, Online Training (no
instructor) and others)
The demand is still
dominated by classroom training methodology due to inertia caused by
traditional mind-set. Blended training is increasing gaining pace as it has
found to provide marginally higher ROIs for global setups as compared to the
only classroom or only online modules. Channing workstyle and increasing need
for flexibility will eventually lead to substitution of offline to online
training.
By Type of Training
Services (Technical, Leadership, Managerial, Sales, Customer Support and
Others)
Technical training
dominates the training demand due to increasing use of technology and growing
digitalization of business operations. Dynamic business strategies, increasing
organizational decentralization and growing millennial workforce drives the
demand for leadership and managerial training.
By Deployment (On-Site and
Off-Site)
Increasing demand for
skill-based training for which resources are available within office premises
to boost the demand for on-site training. Large and mid-size enterprises look
for managed training services (multi-year contracts) which involves multiple
training programs to be conducted within their offices.
Competitive Landscape
The industry is highly
fragmented with presence of various large public and private training companies
as well as thousands of small training start-ups. Price, Course Content, Year
of Experience, Faculty Qualification, Use of Experimental Training and
Clientele are few of the important competition parameters. The major players
include GP Strategies, Franklin Covey, Global Knowledge, Learning Tree
International, Pluralsight, NIIT, Centre for Creative Leadership, Skillsoft,
Udemy, Udacity, Coursera and Simplilearn.
Future Outlook and
Projection
The demand is expected to
grow with a CAGR of 6.9% during the period 2019-2025. The demand is expected to
be driven by a growing interconnected society due to the advent of AI,
Blockchain, IoT, 3D Printing and others. E-learning is gradually taking over
because of low priced modules and flexibility in learning. The shift to remote
workstyle and growing government support will further boost the demand in the
industry.
Key Segments
Covered: -
By
End User Industry
BFSI
IT and
Telecom
Healthcare
Automotive
Manufacturing
By
Training Services
Technical
Leadership
Managerial
Sales
Customer
Support
By
Delivery Mode
Classroom
Training
Blended
Training
Virtual
Training
Online
Training (No Instructor)
By
Organizational Size
Large
Companies (+1000 Employees)
Medium Companies
(500-1000 Employees)
Small
Companies (0-500 Employees)
By
Designation
Managerial
Non-Managerial
Integrated
By
Deployment
On-Site
Off-Site
By
Training Type
Customized
Open
Companies
Covered:
GP Strategies
Franklin
Covey
NIIT
Learning Tree
International
Global
Knowledge
Pluralsight
Centre for
Creative Leadership
Skillsoft
Udemy
Udacity
Coursera
Simplilearn
Key Target Audience
Corporate Training Companies
Education Platforms
Corporate Training Aggregators
Corporate Organizations
Management Consultants
Corporate Trainers
MHRD
Education Associations
Time Period Captured in the Report:-
Historical Period:
2014–2019
Forecast Period:
2020-2025
Key Topics Covered in the Report: -
Current Pain Points of Companies Leading to Development of Corporate
Training Industry
Target Addressable Audience
Supply Ecosystem and Competition Parameters
Demand Scenario
Technological Stack
Revenue Streams
Marketing Strategies
Challenges Faced by Corporate Training Companies
Porter Five Force Analysis
Emerging Business Strategies
Best Practises in Business
For
More Information on the Research Report, refer to below links: -
Related Reports by Ken Research: -
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