Global Corporate Training Market to Reach $514.38 Billion by 2029, Growing at 5.4% CAGR

What industry-specific factors are fueling the growth of the corporate training market?
Throughout the upcoming forecast period, the corporate training market growth will be bolstered by an intensified emphasis on soft skills. Soft skills encompass competencies related to interpersonal and social situations as opposed to technical expertise. They assist individuals in building and sustaining relationships, navigating intricate situations, and attaining personal objectives. In the 'Future of Jobs Report 2023', published by the World Economic Forum (WEF) in April 2023, it was found that the requirement for soft skills is on the rise and employers intend to concentrate on enhancing the soft skills of their employees, specifically leadership and social influence (40% of companies), resilience, flexibility, and agility (32%) and curiosity and lifelong learning (30%). Moreover, a study by Harvard University, the Carnegie Foundation, and the Stanford Research Center in September 2022 detailed that 85% of career success is attributed to the acquisition of robust soft skills and interpersonal capabilities, whilst hard skills such as technical skills and knowledge account for a mere 15%. Correspondingly, the escalating demand for soft skills will fortify the growth of the corporate training market in the future.

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What Is the projected market size and growth rate for the corporate training market?
The size of the corporate training market has seen a consistent expansion in the past few years. This trend will continue as it is projected to increase from $398.78 billion in 2024 to $417.43 billion in 2025, marking a compound annual growth rate (CAGR) of 4.7%. The rise during the historical phase can be tied to the accelerating growth of emerging markets, amplified budgets for learning and development, an intensified uptake of digital platforms, and a growing need for mobile-centered learning.

The size of the corporate training market is set to experience significant expansion in the upcoming years. By 2029, it is predicted to reach $514.38 billion with a compound annual growth rate (CAGR) of 5.4%. Factors influencing the growth during this prediction period include government backing, worldwide population expansion and urbanization, increased demand for soft skills, and amplified investment from online education establishments. Noteworthy trends anticipated during this same period are the application of artificial intelligence (AI) for tailored learning experiences, technological progression to assist skill development, utilization of augmented reality or virtual reality for realistic simulation creation, strategic alliances and acquisitions to enhance financial resilience and geographical spread, product innovations focusing on integrated solutions, and the use of metaverse technology for building cooperative learning settings.

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What new trends are reshaping the corporate training market and its opportunities?
A significant trend gaining traction in the corporate training market is the enhancement of technology. Dominant corporations in this sector are focusing on new tech-centric resolutions to solidify their standing in the corporate training market. For instance, in March 2024, Ireland-based accenture* Plc unveiled accenture* LearnVantage, an all-encompassing technological learning and training service. This service is designed to aid in the reskilling and upskilling of clients' workforces in areas such as technology, data, and AI. This initiative provides organizations and government leaders a quick way to pinpoint skill deficiencies brought about by technological developments, and provide industry-specific training effectively. It offers customized learning opportunities for many users, inclusive of specialized AI, data science, cloud, and cybersecurity training for IT professionals, as well as generative AI education for executives and business leaders.

What major market segments define the scope and growth of the corporate training market?
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

Subsegments:
1) By Technical Training: IT And Software Training, Engineering And Technical Skills, Product Knowledge And Development
2) By Soft Skills Training: Communication And Interpersonal Skills, Leadership And Management Skills, Conflict Resolution And Negotiation
3) By Quality Training: Total Quality Management (TQM), Six Sigma And Lean Training, Quality Assurance And Control
4) By Compliance Training: Regulatory Compliance, Data Protection And Privacy Training, Anti-Harassment And Ethics Training
5) By Other Training Programs: Customer Service Training, Sales And Marketing Training, Diversity And Inclusion Training

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Which region dominates the corporate training market?
North America was the largest region in the corporate training market in 2024. The regions covered in the corporate training market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the corporate training industry growth?
Major companies operating in the corporate training market include Skillsoft, 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, 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

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What Is Covered In The Corporate Training Global Market Report?

•Market Size Forecast: Examine the corporate training market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the corporate training market for a structured understanding.
•Key Players Overview: Analyze major players in the corporate training market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the corporate training market.
•Segment Contributions: Evaluate how different segments drive overall growth in the corporate training market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the corporate training market.
•Industry Challenges: Identify potential risks and obstacles affecting the corporate training market.
•Competitive Landscape: Review strategic developments in the corporate training market, including expansions, agreements, and new product launches.

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