The corporate training market is expected to showcase a vibrant growth, with revenues to reach INR 32 billion by FY’2020. The market will continue to grow in the coming years with a substantial number of private and public organizations looking forward to allocate significant share to training and development programmes to leverage the vast potential in the evolving Indian economy. Global expansion of businesses and confrontation of domestic as well as global competition will see companies focusing more on their learning initiatives.
Currently, the market for corporate training is highly fragmented with presence of close to 700 small and large sized companies engaged in delivery of all sorts of popular and niche training courses across several verticals. Low cost of investment, lack of entry barriers and minimal price differentials has led to high competition in the market and at the same time guarantee enormous scope for growth. There exists enormous opportunities and scope of innovations and development in the market that will widen the portfolio of niche courses and instigate the market.
The industry is likely to be driven by the emerging MSMEs and start-ups that have mushroomed in the last decade. MSMEs have slowly come to realize that calendar training is just not enough and they need to conduct disruptive training programs to optimize their productivity and to sustain the market forces. Demand for niche training programs on big data modules and machine learning is expected to fuel the market growth in the forthcoming years. There has been a significant shift towards outcome-oriented learning in Indian organizations. Companies in India have developed increased interest towards trainings that are aligned to their business needs. Sales programs, customer management programs and other managerial and leadership trainings are conducted keeping in mind the organization specific business strategies and practices. Organizations have got proactively engaged in training needs analyses that has a direct link to business goals and future priorities.
Government initiatives have played an important role in stimulating the market. The NSDC- private collaborations has provided enormous potential for the existing and new players. There has been a marked increase in companies adopting e-learning solutions because of the developments in rich graphics and cost-effective e-training modules offered by training companies. These solutions are highly interactive and engaging and relieve the management from sparing space and time for such engagements.
“Behavioral trainings and Supervisor trainings are the most outsourced corporate trainings in India. Mumbai accounted for the highest revenue generation in the market in FY’2015.” according to the Research Analyst, Ken Research.
The report titled “India Corporate Training Market Forecasts to 2020 – Incremental Allocation of Training Budgets in MSMEs and PPP in Skill Development Initiatives to Propel Growth” provides detailed overview on the Corporate Training Market. This report helps reader to identify the ongoing trends in the market and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help existing corporate training companies and other talent and development agencies, freelancers, consultants, emerging players who wish to capitalize the market potential and investors who are looking forward to venture into the corporate training market in India to align their market centric strategies according to ongoing and expected trends in the future.
Other Related Interesting Articles:
Ankur Gupta, Head Marketing & Communications