Global Corporate Training Market 2024 Mega Trends, Industry Growth, Future Outlook And Forecast To 2033

The corporate training market size has grown steadily in recent years. It will grow from $383.14 billion in 2023 to $400.94 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to emerging markets growth, increased learning and development budgets, increased penetration of digital platforms and increased demand for mobile-based learning.

The corporate training market size is expected to see steady growth in the next few years. It will grow to $485.4 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to government support, global population growth and urbanization, rise in demand for soft skills and increasing investments by online educational institutions. Major trends in the forecast period include use of artificial intelligence (ai) to provide personalized learning experiences, technological advancements to aid in development of skills, use of augmented reality/virtual reality to create realistic simulations, strategic partnerships and acquisitions to improve financial strength and geographical presence, product innovations with focus on integrated solutions and metaverse technology to create collaborative learning environments.

Market Overview -
Corporate training refers to the process of educating employees through a system of activities that apply various types of learning programs to teach them. Corporate training is used to enhance individuals' job skills and knowledge, allowing them to perform better at work.

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Emphasizing Soft Skills In Corporate Training
During the forecast period, the increasing focus on soft skills will support the growth of the corporate training market. Soft skills are a combination of abilities related to people and social situations, rather than a person's technical abilities. Soft skills help a person to build and maintain relationships, navigate complex situations and achieve individual goals. In April 2023, according to a survey report, the 'Future of Jobs Report 2023', published by the World Economic Forum (WEF), the demand for soft skills is increasing and employers plan to focus on developing employees' soft skills, i.e., leadership and social influence (40% of companies), resilience, flexibility and agility (32%) and curiosity and lifelong learning (30%). Further, in September 2022, according to a research report by Harvard University, the Carnegie Foundation and the Stanford Research Center, 85% of career success comes from having well-developed soft skills and people skills. Hard skills, including technical skills and knowledge, only make up 15% of career success. Therefore, the rise in demand for soft skills will support the growth of the corporate training market going forward.

Competitive Landscape -
Major companies operating in the corporate training market report are Skillsoft, GP Strategies Corporation, Cornerstone OnDemand Inc, John Wiley & Sons Inc, Franklin Covey Co,Adobe Inc, BTS Group AB, D2L Corporation, Blanchard Training and Development Inc., Simplilearn, 24 Karat Training, 27 Stars Consulting Group, 2C Training Solutions, 3 Seconds, 361 Degree Minds, 39Solutions, Ultimahub, Tang Cultural Media, 17Career, ACG, AMC TRAINING LTD, AOE ChinEase, Art Of Education, AUIA International Summer School, Académie de Bernadac, Action Education, Adaptive Growth Solutions, Amerlish, Aplus Training, Cegos China, Beijing Champion Consulting Ltd, People Business, HewardMills, Scaled, NBT, Cosmic Velocity, Octave Digital, Blimpp, The Education and Skills Partnership Ltd, Rocky.ai, Changing Social, Real Trainers Group, Robot Albert, Ros Expert, Scrum Trek, Founder Institute Ukraine, Freedom Business Mentoring, GAO Global, GUARANTEE TNG, Galaxy Education Centre, Gestalt Coaching International, Golden Staff Study, Great Event School, HUB ONE, Canadian Management Centre, Global Knowledge, Cisco Systems Inc, GP Strategies Corporation, Sons Inc, Wilson Learning Worldwide Inc, FGV, Insper, Saint Paul Escola de Negócios, ISAE Escola de Negócios, UV CONSULTANTS, CounselTrain, Kompass Consultancy, IIPD Global, Kaplan Genesis, Learners Point, Centre for Management Development, Institute of Chartered Accountants of Nigeria, MasterStart, Milpark Education, NADIA Training Institute, Nigeria Institute of Management, Zabeel International Institute of Management and Technology

Adobe Education Exchange Unveils Game-Changing Data Skills Training For Students
Technological advancements are a key trend gaining popularity in the corporate training market. Major companies operating in the corporate training market 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.

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Key Segments -
The corporate training market covered in this report 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 And Finance, Manufacturing, IT (Information Technology), Retail, Hospitality, Other Industries

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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