According to a research report published by Azoth Analytics in March 2021, the Global Corporate Training Market was valued at USD 394.20 Billion in the year 2020. Growth in the market for Corporate Training is primarily attributed to rapidly evolving demand for corporate training in recent years to move beyond training just new hires, sales people and leaders supported by learning and development professionals and corporate trainers becoming the strategic partners who are critical to the success of their business, will accelerate the growth.
On the basis of Method (Synchronous, Asynchronous, and Hybrid Training), Synchronous Training leads the corporate training market. Synchronous Training is the conventional method of training where instructors/trainers and learners have to be present at the same time for conducting group activities or providing training lessons. The market has been anticipated to grow chiefly on the back of burgeoning demand arising from industries including Energy, Oil & Gas, IT, and Cybersecurity, where learners have multiple questions, supported by captivating features of Synchronous training including presence of instructors for immediate solutions to queries or group learning, will further infuse a sustainable growth in the market during the forecasting period.
Business and Professional Service dominates the end-user market for corporate training. Business and Professional Services are way different from any other business that includes selling products. Professional services including Consultants, Engineers, Lawyers, Accountants, and IT service providers among others require training in order to be professional and efficient in their profession and career, which will further result in fuelling a considerable market growth in future.
The North America region dominates the corporate training market. Presence of various leading Corporate Training companies including GP Strategies, Cornerstone OnDemand, and Plural Sight with presence of various global leading brands and businesses in the region coupled with access to a wide number of training service providers, has been anticipated to pull market growth in the Corporate Training market in North America.
The Azoth Analytics Research Report ‘Global Corporate Training Market (2021 Edition’ has been analyzed by Method (Synchronous, Asynchronous, Hybrid Training), By Asynchronous Training (Offline/Instructor Led Training, Online/Web Based Training, Blended Training), By Industry (Business & Professional Services, Manufacturing, Energy, Others.) and By Training Type (Technical, Non–Technical). The market has been analzyed by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) and by Country (United States, Germany, United Kingdom, Netherlands, China, Japan, India, South Korea, United Arab Emirates) for the historical period of 2016-2020 and the forecast of 2021-2026.
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