LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global systems training market for the corporate sector predicts a CAGR of above 13% during the period 2018-2022.
The report segments the global systems training market for the corporate sector by learning method (blended learning and online learning) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global systems training market for the corporate sector, according to Technavio education researchers:
- Emergence of efficient and cost-effective e-learning training modules: a major market driver
- Gradual shift from in-person training to virtual classrooms: emerging market trend
- The Americas dominated the global systems training market for corporate sector with 43% share in 2017
- City & Guilds Group, CGS, Global Knowledge, GP Strategies, Learning Tree International, and Skillsoft are the leading players in this market
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Emergence of efficient and cost-effective e-learning training modules: a major market driver
Systems training is one of the key components for the success of an organization and in determining the overall productivity of the company. Productivity largely depends on systems training provided to both the new recruits as well as the existing employees to upgrade their skills. Due to this, organizations are continuously opting for innovative methods and cost-effective ways to impart systems training to employees.
Traditional training includes setup costs that consist of additional traveling expenses; employee and trainer time; and high facility charges. Moreover, escalating costs such as printing instruction materials and assessment papers are cost intensive when compared to just making them available online and giving employees access to the Internet and digital content. E-learning is a preferred mode that has been adopted by the organizations. Players in the market are also introducing solutions, technologies, systems, and courses at affordable prices to corporations.
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Gradual shift from in-person training to virtual classrooms: emerging market trend
The progress in technology has enabled virtual training events to gain popularity in the global systems training market for the corporate sector. VILT provides employees with both face-to-face training and online learning. Virtual training helps in eliminating travel costs, offers flexible schedules, and provides collaborative training tools, which substitutes the interactivity and communication of physical classrooms.
According to a senior analyst at Technavio for research on K-12 and higher education, “Virtual classrooms involve advanced collaborations, which include many collaboration tools. These tools ensure effective communication between trainers and learners. Many players in the market offer virtual classroom setups to conduct training. Companies such as GP strategies, ABB, and Skillsoft provide systems training to employees using virtual classrooms through web conferences. Some of the common virtual tools include a virtual classroom with audio-visual tools and social collaborations.”
Global market opportunities
In terms of regional dominance, the Americas led the global systems training market for the corporate sector, followed by EMEA and APAC in 2017. Similar trends are observed in both the Americas and Europe in EMEA in terms of the use of modern technologies and infrastructure improvements.
The increasing number of SMBs and multinational corporations (MNCs) in the Americas and Europe are driving the market. The market is yet to gain traction in few of the economies in APAC and MEA due to lack of awareness among employers and employees regarding the know-how associated with the design, development, functioning, and maintenance of systems; and the lack of infrastructure in a few of the economies.
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