Global Corporate Training Market Size 2024, Forecast To 2033
11 Mar, 2024
The corporate training market size has experienced steady growth, rising from $383.14 billion in 2023 to $400.94 billion in 2024, with a compound annual growth rate (CAGR) of 4.6%. The historic period's growth is attributed to the expansion of emerging markets, increased learning and development budgets, the proliferation of digital platforms, and the growing demand for mobile-based learning. Looking ahead, the market is poised for continued growth, reaching $485.4 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. This growth in the forecast period is underpinned by government support, global population growth and urbanization, a rise in demand for soft skills, and increasing investments by online educational institutions. Major trends in the forecast period encompass the use of artificial intelligence (AI) to offer personalized learning experiences, technological advancements aiding skill development, augmented reality/virtual reality for realistic simulations, strategic partnerships and acquisitions for improved financial strength and global presence, product innovations focusing on integrated solutions, and metaverse technology to foster collaborative learning environments.
Global Corporate Training Market Key Driver
Throughout the forecast period, the corporate training market is poised for growth, buoyed by an escalating emphasis on soft skills. Soft skills, encompassing interpersonal and social abilities, are increasingly recognized as pivotal for navigating complex situations, building relationships, and achieving individual goals. A survey report in April 2023, the 'Future of Jobs Report 2023' by the World Economic Forum (WEF), reveals a surge in demand for soft skills. Employers are strategically focusing on developing employees' soft skills, with leadership and social influence (40% of companies), resilience, flexibility, and agility (32%), and curiosity and lifelong learning (30%) at the forefront. Harvard University's research report in September 2022 underscores the significance of soft skills, attributing 85% of career success to their development, contrasting with the 15% attributed to hard skills. The growing importance of soft skills is set to underpin the corporate training market's growth, with market size values for 2023, 2024, and 2028 mirroring this trajectory.
Get A Free Sample Of The Global Corporate Training Market ReportGlobal Corporate Training Market 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
By Geography:The regions covered in the corporate training market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the corporate training market in 2023. The regions covered in the corporate training market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Corporate Training Industry Players
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
Get The Full Global Corporate Training Market ReportCorporate Training 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.
Corporate Training Global Market Report 2023 provides data on the global corporate training market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The corporate training market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.