2024 Corporate Training Research Report: Market Projected to Surpass $713 Billion by 2033

Dublin, Nov. 07, 2024 (GLOBE NEWSWIRE) — The “Corporate Training Market Opportunities and Strategies to 2033” report has been added to ResearchAndMarkets.com’s offering.

The global corporate training market is poised for unprecedented growth over the next decade. Entering a new era of professional development, the market is expected to grow robustly, reaching an estimated $511.97 billion by 2028 and further surging to $713.47 billion by 2033. This optimistic outlook is anchored in the market’s strong historical performance, with a compound annual growth rate (CAGR) of 4.9% from 2018 to 2023.

Key Drivers of Market Expansion

Several key factors are propelling the corporate training market forward, including widespread digitalization, higher learning and development investments, expanded internet outreach, thriving mobile learning demand, and greater adoption of IoT devices. However, certain challenges such as technology accessibility constraints and elevated program costs have previously restrained growth.

Segment Insights and Forecasts

The market is meticulously segmented, with technical training representing the largest segment as of 2023, at 45.4% of the total market share. Demand for soft skills training, however, is predicted to accelerate, aiming to become the fastest growing segment within the forecast period. When dissecting the market by delivery methods, virtual training currently takes the lead. Yet, the traditional face-to-face training is showing signs of a strong comeback with robust growth anticipated.

The IT industry leads the industry-specific segment, accounting for 23.7% of the market share, with notable progression expected in the years ahead. Geographically, North America holds the dominant market share, but the Asia Pacific region and South America are set to outpace growth in other regions, followed by the Middle East and North America.

Competitive Landscape and Strategic Insights

A highly fragmented marketplace, the corporate training sector boasts a multitude of competing players with Skillsoft Corp. leading the way. Companies are increasingly embracing strategic partnerships, new product development, and robust acquisition strategies to solidify their market presence.

Strategic Opportunities and Recommendations

Top opportunities within the corporate training market lie in tapping into technical training, virtual training methods, and IT industry-focused programs. Corporations are encouraged to leverage AI for personalized learning experiences and invest in advanced technology training and hybrid solutions to drive efficiency and relevance in today’s dynamic workspace.

Enterprises should seize these opportunities by focusing on AI-driven solutions, enhancing skill sets for future needs, and developing ESG programs to empower businesses across the globe. A strong focus on soft skills and expanding into emerging markets, while continuing to innovate in developed ones, is recommended to capitalize on the rapidly growing market.

Key Attributes:

Companies Featured

• Skillsoft Corp.
• GP Strategies Corporation (Learning Technologies Group plc)
• Cornerstone OnDemand, Inc.
• Cisco Systems Inc.
• John Wiley & Sons Inc.
• Adobe, Inc.
• Franklin Covey, Co.
• BTS Group AB
• D2L Corporation
• Simplilearn Americas LLC
• 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
• Know You More
• 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
• ČEZ Group
• ŠKODA Auto
• PKN Orlen
• OMV Petrom
• Banca Transilvania
• Instructure Holdings, Inc.
• Cognizant
• ELB Learning
• Microsoft Corporation
• Ancora Corporate Training (ACT)
• Coursera Inc
• Canadian Management Centre (CMC)
• Global Knowledge Canada
• Adobe Inc
• Franklin Covey Company
• John Wiley and Sons Inc.
• Skillsoft Limited
• Wilson Learning Worldwide Inc
• AllenComm
• Bizlibrary
• Blanchard Training and Development Inc
• Cornerstone Ondemand Inc
• FGV (Fundação Getulio Vargas)
• Insper
• UBITS
• Saint Paul Escola de Negócios
• ISAE Escola de Negócios
• Fundação Instituto de Administração (FIA)
• Unisinos
• Universidad de San Andrés
• Pontificia Universidad Católica de Chile (PUC)
• Elev8
• AZTech Training & Consultancy
• Agile Leaders Training Center
• Global Horizon Training Center
• Copex Training
• Enocta
• United Work
• TSKB A.Ş.
• Anderson
• ACAD Training & Consulting
• Pargesoft
• UV CONSULTANTS
• CounselTrain
• Kompass Consultancy
• IIPD Global
• Kaplan Genesis
• Learners Point
• Zabeel International Institute of Management and Technology
• NADIA Training Institute
• MasterStart
• Milpark Education
• Nigeria Institute of Management (NIM)
• Institute of Chartered Accountants of Nigeria (ICAN)
• Centre for Management Development (CMD)
• Bervidson Group
• Phillips Consulting Limited
• Lagos Business School (LBS)
• ABSA Group
• American Chamber of Commerce in Egypt
• Shell Nigeria

For more information about this report visit https://www.researchandmarkets.com/r/evy2d8

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• Corporate Training Market