LONDON--(BUSINESS WIRE)--The global corporate training market size in the US is poised to grow by USD 19.51 billion during 2020-2024, progressing at a CAGR of over 10% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Traditional corporate training that is associated with a brick and mortar setup is one of the key expenses of various organizations. With the growing need for upgrading employee skills, organizations are exploring cost-effective ways of training their employees. This has increased the preference for e-learning as it helps organizations save employees’ time and it is also convenient to maintain, update, and store information more effectively. To capitalize on this opportunity, vendors in the market are introducing a wide range of cost-effective e-learning training modules. All these factors are fostering the growth of the corporate training market in the US.
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Report Highlights:
- The major growth came from the technical courses segment in 2019. This is due to the increased adoption of blended learning approaches by organizations.
- The global corporate training market in the US is fragmented. Adobe Inc., Cisco Systems Inc., City & Guilds Group, D2L Corp., Franklin Covey Co., GP Strategies Corp., John Wiley & Sons Inc., NIIT Ltd., Skillsoft Ltd., and Wilson Learning Worldwide Inc. are some of the major market participants. To help clients improve their market position, this corporate training market in the US forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the corporate training market in the US 2020-2024 is expected to have positive growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and continue to update our report forecasts.
Read the full report here: https://www.technavio.com/report/corporate-training-market-size-in-us-industry-analysis
Growing emphasis on flexible learning platforms will be a Key Market Trend
The high penetration of mobile devices such as smartphones and tablets has led to a shift in the learning methods. Also, the growing diversity of operations at the workplace has compelled vendors to focus on mobility, flexibility, and cross-device compatibility in terms of content delivery. Besides, the rising popularity of digitization and the high adoption of Big Data has increased the need for analyzing various information such as preferences, behavior, and performance of learners. This has increased the penetration of analytics in corporate training programs, which is helping organizations to enhance the overall training experience by facilitating the prediction of employees' performance. All these factors are positively influencing the growth of the corporate training market in the US.
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Corporate Training Market in the US 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist corporate training market in the US growth during the next five years
- Estimation of the corporate training market in the US size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the corporate training market in the US
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of corporate training market vendors in the US
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Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019-2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Technical courses - Market size and forecast 2019-2024
- Non-technical courses - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End user placement
- Manufacturing - Market size and forecast 2019-2024
- Healthcare - Market size and forecast 2019-2024
- BFSI - Market size and forecast 2019-2024
- IT - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End user
Market Segmentation by Other 1
- Market segments
- Comparison by Other1 placement
- Blended learning - Market size and forecast 2019-2024
- Offline learning - Market size and forecast 2019-2024
- Online learning - Market size and forecast 2019-2024
- Market opportunity by Other1
Customer landscape
- Overview
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Adobe Inc.
- Cisco Systems Inc.
- City & Guilds Group
- D2L Corp.
- Franklin Covey Co.
- GP Strategies Corp.
- John Wiley & Sons Inc.
- NIIT Ltd.
- Skillsoft Ltd.
- Wilson Learning Worldwide Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
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