Training Market World's Top Players Include Skillsoft Limited, Safety Media, GP Strategies Corp., UL EHS Sustainability, PRYOR Learning Solutions, Raytheon Company, DuPont Sustainable Solutions, SAP Litmos, Vector Solutions, Global Training Solutions

The global training market was valued at US$ 94,828.5 Mn in 2017 and is expected to exhibit a CAGR of 6.4% over the forecast period and reach US$ 174,596.6 Mn in 2027. North America accounted for 45.1% of the revenue share in the global training market in 2018.

The Asia Pacific market is witnessing high growth due to increasing demand for cost effective learning management solutions. Moreover, an increase in the number of start-ups operating in the e-learning industry has aided growth of the training market in this region.

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Learning management system segment held dominant position in the market in 2018
Learning management system is a software application, which is used for planning, reporting, tracking, administration, documentation, reporting, implementation, and for accessing training or learning programs. Moreover, a learning management system can help instructors to generate and distribute content, and monitor learner's performance and progress. A learning management system has application in the higher education sector and corporate sector due to its wide range of functions such as managing and delivering all types of content such as documents and videos; it also contains interactive features such as video conferencing, discussion forums, and threaded discussions.

North America held the dominant position in the Training market in 2017

North America is expected to be the largest market in terms of size during the forecast period, owing to rising demand for effective and quality education in the region. Furthermore, several key players such as SafetySkills and IFP Training that are engaged in providing training to employees, have high presence in this region. The training industry in North America includes both internal and external resources that are employed by key players to train their staff on specific and required skills needed to perform their jobs.

Increasing demand for continuous learning in Europe is expected to result in high adoption of different training and learning methodologies and products. The training market in Europe is expected to exhibit steady growth, owing to significant revenue contributed by countries such as, Germany, U.K., and France over the forecast period.
The training market in Latin America is expected to witness significant growth in the near future. This growth is majorly attributed to evolution of digitized corporate training in the region that is rapidly replacing conventional training methods.

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Global Training Market: Key Players

Major players operating in the global training market include Skillsoft Limited, Safety Media, GP Strategies Corp., UL EHS Sustainability, PRYOR Learning Solutions, Raytheon Company, DuPont Sustainable Solutions, 360training.com, Inc., SAP Litmos, Vector Solutions, Global Training Solutions, Inc., Cornerstone onDemand, Petroskills, and Euro Petroleum Consultants Ltd. [EPC].

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