Training

Training

Corporate training, which is also known as workplace learning, is a system of learning activities that are designed to train employees to perform better on the job. Corporate training enhances an employee’s productivity, motivation, performance, and their retention which in turn helps corporates to achieve their business goals. There are two types of training methods that include virtual training method and face-to-face training method. Additionally, the corporate training market analysis is done based on regions, key players, and segments.

The global corporate training market segment is categorised based on training method, training program, industry, and region. By training method, the corporate training market is classified into virtual and face-to-face. By training program, it is divided into technical training, soft skills training, quality training, compliance training and others. By industry, it is segmented into FMCG/retail, pharmaceutical and healthcare, financial services, professional services, public enterprises, information technology, and other industries. Region-wise, the corporate training market is analysed across North America, Europe, Asia-Pacific, and LAMEA.

The global corporate training market witnessed an impetus due to the outbreak of the COVID-19 pandemic in 2020. The market dynamics changed rapidly and the whole globe shifted online. The virtual training came under the spotlight. The key market players invested heavily on the digitisation of their businesses. The corporate world started adopting the virtual platforms for the purpose of providing training to their employees, which significantly fostered the growth of the virtual corporate training segment. The increased penetration of the digital platforms supported by the increasing penetration of internet, rising adoption of smart devices, developing information technology and telecommunications platform, and rapid emergence of virtual corporate training platforms across the globe are some of the significant factors that are held responsible for the growth of the corporate training market in the past couple of years. The rising trend of work from home and a significant shift towards the digital technologies is expected to sustain its position in the market in the foreseeable future and boost the growth of the market during the forecast period.

The virtual segment is expected to witness a significant growth during the corporate training market forecast period, owing to benefits associated with the virtual training method, which includes decreasing the training cost by mitigating the trainees’ travel & lodging expenses, provides flexibility for training schedule, enhances the motivation of trainees and others.