LONDON--(BUSINESS WIRE)--The corporate training market in the US is expected to post a CAGR of around 10% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The increasing use of smartphones and tablets as primary or supplementary business devices has resulted in a shift in learning methods. This is encouraging market vendors to focus more on mobility, flexibility, and cross-device compatibility in terms of content delivery. Several vendors are offering flexible multi-platform content deployment options that can either be used as stand-alone learning systems or integrated with existing LMS. Certain vendors are offering connected solutions that include web-enabled simulations, connected learning, digital ecosystems, and mobile applications to increase employee engagement and learning efficiency. The growing emphasis on flexible learning platforms is one of the key factors that will drive the growth of the corporate training market in the US.
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As per Technavio, the rising popularity of microlearning will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Corporate Training Market in US: Rising Popularity of Microlearning
End-user companies are increasingly implementing microlearning in corporate training programs and services to improve learner engagement. Microlearning solutions encourage employees to learn at their own pace by offering contextual and real-time content in the form of videos and other multimedia. The introduction of such microlearning nuggets helps employees understand every specific concept. Microlearning also improves knowledge sharing and peer connectivity among employees. The growing popularity of microlearning has compelled vendors to offer a wide range of microlearning content solutions for leadership development, business skill training, digital transformation training, and digital skills training. This trend is expected to positively influence the corporate training market growth during the forecast period.
“Apart from the rising popularity of microlearning, the growing prominence of gamification, and increasing incorporation of geofencing in corporate training are some of the major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
Corporate Training Market in US: Segmentation Analysis
This market report segments the corporate training market in US by product (technical courses and non-technical courses), end-users (manufacturing, healthcare, BFSI, IT, and others) and learning method (blended learning, offline learning, and online learning).
Technical courses led the market in 2018, followed by non-technical courses. During the forecast period, the technical courses segment is expected to maintain its dominance over the market and register the highest incremental growth. This is due to increasing adoption of video based, simulation-based, and game-based elements in technical courses.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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