US Corporate Training Market Outlook to 2025: Ken Research

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The report titled “US Corporate Training Market Outlook to 2025 – Driven by Growing Skill Gap with Disrupting Technology Stack and Penetration of Self-Paced, Live Instructor-Led Online Training Modes provides a comprehensive analysis of the Corporate Training Market in the USA. The report also initiative by explaining the need and opportunity of the corporate training industry. Further, it proceeds with an explanation of current demand and demand by different segments. It also includes the trends, developments, challenges, technological stack, revenue streams, marketing strategies, and government regulations driving the industry. It gives a detailed explanation of competitive scenarios including cross-comparison between major players, Porter’s Five Force Analysis, and detailed company profiles of major players. It concludes with future scope and analyst recommendations.

Market Overview and Demand Scenario

Low employee retention, growing skill gap, low college enrollment, and the increasing cost of ineffective training were some of the important pain points of companies that lead to the introduction of the corporate training industry. The USA Corporate training industry is currently positioned to be at a late growth stage. The demand is increasing with a CAGR close to 5% during the period 2014-2019. There is an increasing trend in the use of Microlearning modules, experimental training, and the development of customized and specific training solutions.

Demand by End-User Industry (BFSI, IT and Telecom, Healthcare, Automotive, Manufacturing, and others)

The growing importance of cyber-security with the increasing use of digital banking technologies including digital banking, Blockchain, and others, has led to increasing demand for training in the BFSI industry. Data Science & Analytics and Big Data Programs have revolutionized the IT and telecom Industry leading to quick outdating of skills among its employees. In the healthcare industry, the training demand is driven during the need for disease prevention training such as training to deal with highly infectious diseases such as Coronavirus, Ebola, SARS, etc. Introduction of electric & automated vehicles and development in 3D Printing technology is driving the demand in the automotive and manufacturing industries respectively.

Demand By Delivery Mode (Classroom Training, Blended Training, Virtual Training, Online Training (no instructor) and others)

The demand is still dominated by classroom training methodology due to inertia caused by traditional mind-set. Blended training is increasing gaining pace as it has found to provide marginally higher ROIs for global setups as compared to the only classroom or only online modules. Channing workstyle and increasing need for flexibility will eventually lead to the substitution of offline to online training.

By Type of Training Services (Technical, Leadership, Managerial, Sales, Customer Support and Others)

Technical training dominates the training demand due to the increasing use of technology and the growing digitalization of business operations. Dynamic business strategies, increasing organizational decentralization and growing millennial workforce drives the demand for leadership and managerial training.

By Deployment (On-Site and Off-Site)

Increasing demand for skill-based training for which resources are available within office premises to boost the demand for on-site training. Large and mid-size enterprises look for managed training services (multi-year contracts) which involves multiple training programs to be conducted within their offices.

Competitive Landscape

The industry is highly fragmented with the presence of various large public and private training companies as well as thousands of small training start-ups. Price, Course Content, Year of Experience, Faculty Qualification, Use of Experimental Training, and Clientele are few of the important competition parameters. The major players include GP Strategies, Franklin Covey, Global Knowledge, Learning Tree International, Pluralsight, NIIT, Centre for Creative Leadership, Skillsoft, Udemy, Udacity, Coursera, and Simplilearn.

Future Outlook and Projection

The demand is expected to grow with a CAGR of 6.9% during the period 2019-2025. The demand is expected to be driven by a growing interconnected society due to the advent of AI, Blockchain, IoT, 3D Printing, and others. E-learning is gradually taking over because of low priced modules and flexibility in learning. The shift to remote workstyle and growing government support will further boost the demand in the industry.

Key Segments Covered: –

By End-User Industry

BFSI

IT and Telecom

Healthcare

Automotive

Manufacturing

By Training Services

Technical

Leadership

Managerial

Sales

Customer Support

By Delivery Mode

Classroom Training

Blended Training

Virtual Training

Online Training (No Instructor)

By Organizational Size

Large Companies (+1000 Employees)

Medium Companies (500-1000 Employees)

Small Companies (0-500 Employees)

By Designation

Managerial

Non-Managerial

Integrated

By Deployment

On-Site

Off-Site

By Training Type

Customized

Open

Companies Covered:

GP Strategies

Franklin Covey

NIIT

Learning Tree International

Global Knowledge

Pluralsight

Centre for Creative Leadership

Skillsoft

Udemy

Udacity

Coursera

Simplilearn

Key Target Audience

Corporate Training Companies

Education Platforms

Corporate Training Aggregators

Corporate Organizations

Management Consultants

Corporate Trainers

MHRD

Education Associations

Time Period Captured in the Report: –

Historical Period: 2014–2019

Forecast Period: 2020-2025

Key Topics Covered in the Report: –

Current Pain Points of Companies Leading to Development of Corporate Training Industry

Target Addressable Audience

Supply Ecosystem and Competition Parameters

Demand Scenario

Technological Stack

Revenue Streams

Marketing Strategies

Challenges Faced by Corporate Training Companies

Porter Five Force Analysis

Emerging Business Strategies

Best Practises in Business

For More Information on the Research Report, refer to below links: –

US Corporate Training Industry Growth

Related Reports by Ken Research: –

India Corporate Training Market Outlook to 2025 driven by Introduction of Experimental Training, Greater Use of Artificial Intelligence and Increase in Government Initiatives to Boost Training

India Ed-Tech Driven Career Programs Market Outlook to 2025 – Increasing Technological Capabilities of Ed-Tech Companies to Increase Program Enrolments and Spend in Future

Australia Executive Education Market Outlook to 2024 –Driven by Rising Popularity of Online Education and Launch of Innovative Programs

Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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