Corporate training Market to Exceed $137,615.13 million by 2030; Asia-Pacific to Remain the Largest Market ; Bizlibrary, GP Strategies Corporation, Franklin Covey Co., City & Guilds Group

The Asia-Pacific corporate training market was valued at $83,898.64 million in 2019 and is projected to reach $137,615.13 million by 2030, registering a CAGR of 9.12% from 2021 to 2030.

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Corporate training is a method to improve the skill sets including work performance, productivity, efficiency, and others of an employee. There are different training methods offered for the development of corporate employees, which include virtual and face-to-face training method. It helps employees to enhance their skill sets such as communications, negotiation skills, leadership skills, technical skills, and others. Use of gamification, micro-learning and wearable devices are some of the major trends in the corporate training market.

The report describes competitive landscape of major market players to boost their shares and remain competitive in the industry. The study includes Porter's five forces model and PESTEL analysis to understand the competitive scenario of the industry. The study covers the top investment pockets for investor to capitalize in the approaching time. These analysis frameworks are benchmarked on the basis of their relative market share, CAGR, and market attractiveness. The competition section of the report provides comprehensive assessment on company offering financials, business strategies, and developments. The section further contains data on country-wise penetration of local companies in the market along with their relative market share regionally.

COVID-19 Impact Analysis

The COVID-19 pandemic led to an enormous impact on people' lifestyle as well as economy. The report offers an overview of the micro and macro economic impacts of the pandemic on the market. The report further exhibits the market size and share with impact of COVID-19. Furthermore, it provides an overview on the impact the pandemic had on the supply chain and other aspects of the Asia-pacific corporate training market. The reduced number of covid patients, owing to safety majors taken by governments and vaccination campaigns to curb the spread of coronavirus are also expected to impact on the global Asia-pacific corporate training market. The report, therefore, also highlights the major market strategies designed and adopted by players to confront the challenges created by the global health crisis. The report provides an overview of both the post-COVID-19 as well as pre-COVID-19 impact analyses.

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As per the the global corporate training market analysis, the corporate training market segments is categorized on the basis of training method, training program, industry, and region. By training method, the corporate training market is classified into virtual and face-to-face. By training program, it is divided into technical training, soft skills training, quality training, compliance training and others.

By industry, it is segmented into FMCG/retail, pharmaceutical and healthcare, financial services, professional services, public enterprises, information technology, and other industries. Region-wise, the corporate training market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

As per the corporate training market trends, the virtual segment is expected to witness a significant growth during the corporate training market forecast period, owing to benefits associated with the virtual training method, which includes decreasing the training cost by mitigating the trainees' travel & lodging expenses, provides flexibility for training schedule, enhances the motivation of trainees and others.

The key players operating in the global corporate training industry include Bizlibrary, GP Strategies Corporation, Franklin Covey Co., City & Guilds Group, D2L Corporation, Cornerstone Ondemand Inc., Wilson Learning Worldwide Inc., Allen Communications Learning Services, Simplilearn Solutions, and Skill Soft.

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Key findings of the study

By training method, the face-to-face segment accounted for the highest corporate training market share in 2019, growing at a CAGR of 13.9% from 2021 to 2030.

By training program, the technical training segment accounted for the highest market share in 2019, growing at a CAGR of 6.9% from 2021 to 2030.

By industry, the pharmaceutical and healthcare segment accounted for the highest market share in 2019, growing at a CAGR of 6.6% from 2021 to 2030.

By region, North America occupied maximum share in the corporate training market in 2019 and is expected to grow at a CAGR of 7.0% from 2021 to 2030.

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