LONDON--(BUSINESS WIRE)--The train-the-trainer market is expected to grow by USD 1.15 billion during 2020-2024, expanding at a CAGR of over 12%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
For Right Perspective & Competitive Insights on the Train-The-Trainer Market - Request a Free Sample Report with COVID-19 Impact
Train-The-Trainer Market: Rising need for effective ways of training to drive growth
The growing competition in the market is compelling organizations to explore every possible way to gain an edge over their rivals. This has increased the adoption of the latest technologies to improve overall operational efficiency. However, the lack of skilled employees has been a challenge in implementing such technologies. Hence, many organizations have adopted the Train-the-trainer approach, wherein they procure training services to train in-house instructors. The approach does not require a high initial investment and the training costs depend on the number of attendees participating in the training sessions. These benefits coupled with the rising need for training employees are fueling the growth of the global train-the-trainer market.
Is there any relief during this COVID-19 pandemic? Click to know
As per Technavio, the increase in online training methods will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Train-The-Trainer Market: Increase in Online Training Methods
Traditional training methods that run in a brick-and-mortar setup require significant initial investments. It includes travel expenses, employee and trainer charges, and facility charges. Also, the costs associated with printing instructions and assessment papers are generally high. Hence, organizations are adopting online technologies such as web conferencing, LMS, and virtual classrooms to facilitate employee training. This helps companies save time and costs as most of the learning content is made available on an online platform. Moreover, it is a convenient way of maintaining, updating, and storing information. All these factors are expected to positively influence the growth of the global train-the-trainer market during the forecast period.
“The increasing adoption of digital badges and growing workforce diversity will further boost market growth during the forecast period”, says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports
Train-The-Trainer Market: Segmentation Analysis
This market research report segments the train-the-trainer market by delivery method (Blended learning and Online learning) and Geography (North America, Europe, APAC, South America, and MEA).
The North America region led the train-the-trainer market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, North America is expected to register the highest incremental growth due to the increasing investments in training programs and employee development by organizations in the region.
Are you a start-up willing to make it big in the business? Grab an exclusive Report
Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.