Corporate Training Market Size in US to Increase by USD 19.51 Billion | Technavio's Research Insights Highlight the Emergence of IoT and Wearable Devices as Key Trend
The corporate training market in US is fragmented with the presence of several global and regional players.
NEW YORK, Nov. 12, 2021 /PRNewswire/ -- According to the research report "Corporate Training Market in US - Forecast and Analysis Report 2021-2025", the market is expected to have a YOY growth rate of 9.31% in 2021 and is expected to grow at a CAGR of 10% between 2020 and 2025.
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Vendor Insights
The corporate training market in US is fragmented with the presence of several global and regional players. The report also offers information on several market vendors, including 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. among others.
Some of the leading players in the market are deploying various organic and inorganic growth strategies to compete in the market.
For instance, in March 2021, John Wiley and Sons Inc. partnered with NUS Advanced Computing for Executives to launch global certification program aimed to close technology skills gap.
Find additional highlights on the growth strategies adopted by vendors and their product offerings. Read Sample Market Research Report.
Product Segments Analysis
Technical training segment will provide maximum growth opportunities in the corporate training market in US during the forecast period. Rising initiatives from the Government of India, such as the Make in India mission and the Chinese government's inclination to support the manufacturing sector, are expected to boost the growth of manufacturing jobs in the long run. This will eventually lead to an increasing need for offering technical training to employees in the manufacturing sector during the forecast period. Technical training segment is expected to register a steady growth during the forecast period owing to the rising need for skilling employees on continuously evolving technologies.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. www.technavio.com/report/corporate-training-market-in-US-industry-analysis
Key Market Trends & Challenges:
The emergence of IoT and wearable devices is one of the key trends supporting the corporate training market share growth. Owing to the rapid adoption of digital solutions to implement e-learning the Internet of Things and wearable devices have gained traction in the corporate training industry over the last few years. Smart glasses such as Google Glass and smartwatches, such as the Apple Watch, are rapidly gaining popularity among audiences and corporate trainers to create interactive and immersive learning experiences. Moreover, wearable devices or apps are emerging as the most convenient and time-saving solutions, right from logging attendance of trainees to monitoring their performances in an Internet-enabled room. These factors will push the concept of corporate training in various industries including healthcare, manufacturing, ITeS, and more which will [positively impact the market growth.
Increasing prominence of MOOCs in corporate learning might inhibit the growth of the market due to its cost-effective alternative to corporate training. MOOCs offer several advantages, such as the centralization of training components and assessments at a lower cost when compared with conventional corporate training methods. This prompts several organizations to invest in the creation of personalized MOOCs tailor-made to their core competencies and requirements.
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Corporate Training Market In US Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10% |
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Market growth 2021-2025 |
USD 19.51 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
9.31 |
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Regional analysis |
US |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
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. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us:
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.
Contact
Technavio Research
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Email: [email protected]
Website: www.technavio.com/
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SOURCE Technavio
