The Indian market for corporate education in India has been a niche market that has witnessed steady growth but is yet to be explored in full potential and has a huge scope for expansion in the coming years in comparison to global corporate education market. The training methodology has seen rapid digitization of content and migration towards online training which has been a noticeable trend in the last decade.
Influx of a flurry of corporate training companies in the Indian landscape has been an important stimulant for the market. Rising demand for trainings on a spectrum of courses has put the market on an exemplary growth track. IT training market in India has been the premium sector and the most important revenue generator for the industry. Telecom Training Industry in India along with corporate training in banking and automobile corporate education has also seen considerable demand.
Other traditional sectors such as manufacturing and BFSI have also supported fairly to the growth of corporate training market in India. Technical training is still the most sought after module by the Indian companies though sales support training and managerial training market have also registered growth. There are instances of companies cutting down on budgets allocated for vocational and soft skills trainings and instead spending it for skill trainings. The market is very competitive with presence of several small and big players and has limited entry barriers for a new player. Classroom training is still the most preferred mode while e-learning is gradually taking on because of low priced modules and flexibility in learning.
The automobile sector generally prefers to organize corporate education for their employees. Compliance led trainings form a substantial proportion of the training volume in this sector. While a substantial part of the trainings are conducted in-house by senior experienced management, a fair proportion is outsourced to established training firms.
The manufacturing sector in India is characterized by mostly calendar trainings. Manufacturing Training are already earmarked for the entire year and additional trainings are scheduled only if there is an urgent need to learn a new technology or have some crucial business needs.
Competition in the corporate education market in India is intensifying with many players operating in the market. NIIT has been in the market for quite long and is one of the leading players as per the revenue generated from corporate training market. NIIT is a popular brand owing to its strong marketing activities and extensive presence across the country, Manipal Education is also another dominant player in the BFSI segment. Manipal’s strategic collaborations with major private and public banks to facilitate clients’ executive recruitments have made the company a reliable name in the corporate training market. The business growth of Centum Learning has been robust. The company is the largest NSDC partner and has an extensive distribution of centers across the country. Aptech limited also offers corporate education in various fields. Market Share of Rooman Technologies has been rising. The future of corporate education will be compelling for companies that focus on trainings which are personalised, interactive and provide entertainment value alongside the process of training.
For more information on India Corporate Training Market, please refer to the below mentioned report: