The analysts forecast global corporate training market to grow at a CAGR of 9.79% during the period 2018-2022. The latest trend gaining momentum in the market is Emergence of IoT and wearable devices.
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The Internet of Things (IoT) and wearable devices have gained traction in the corporate training industry over the last few years.
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This is owing to the rapid adoption of digital solutions to implement e-learning. 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.
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.
Major key players in the global corporate training market: City & Guilds Group, D2L, GP Strategies, NIIT, Skillsoft, and Wilson Learning Worldwide.
According to the corporate training market report, one of the major drivers for this market is Emergence of cost-effective e-learning training modules. Corporate training is one of the key expenses of any organization.
The overall productivity of any company depends significantly on how well new hires are being trained and the existing employees are upgrading their skills. Therefore, organizations are increasingly adopting innovative and cost-effective ways to train their employees.
Costs associated with traditional training in a brick-and-mortar setup, which includes traveling expenses, employee and trainer time, and facility charges are considerably high. In addition, costs associated with printing instruction materials and assessment papers are higher compared with just making them available online and giving employees access to the Internet and digital content.
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Further, the corporate training market report states that one of the major factors hindering the growth of this market is Budgetary concerns. with sufficient budgets own essential hardware and software solutions or systems.
These are required to implement 21st-century corporate training, with which it is easy to attract employees willing to learn in a digitally advanced learning environment. However, organizations with limited budget may prefer continuing with the conventional training methodologies, without incurring extra expenditure on buying new tools and technologies.
This, in turn, may hamper the growth of the market during 2017-2022. In addition, the switching cost from one technology or tool, take for instance an LMS, could be immensely expensive for companies with limited budgets.
Key questions answered in this report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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Few Points from List of Exhibits:
Exhibit 1: Corporate Training: Value Chain
Exhibit 2: Parent Market
Exhibit 3: Global Corporate Training Market
Exhibit 4: Market Characteristics
Exhibit 5: Market Segments
Exhibit 6: Market Definition - Inclusions and Exclusions Checklist
Exhibit 7: Market Size 2017
Exhibit 8: Validation Techniques Employed For Market Sizing 2017
Exhibit 9: Global Corporate Training Market Market Size and Forecast 2017-2022 ($ Bn)
Exhibit 10: Global Corporate Training Market Year-Over-Year Growth 2018-2022 (%)
Exhibit 11: Five Forces Analysis 2017
Exhibit 12: Five Forces Analysis 2022
Exhibit 13: Bargaining Power of Buyers
Exhibit 14: Bargaining Power of Suppliers
Exhibit 15: Threat of New Entrants
Exhibit 16: Threat of Substitutes
Exhibit 17: Threat of Rivalry
Exhibit 18: Market Condition - Five Forces 2017
Exhibit 19: Global Corporate Training Market by Product Market Share 2017-2022 (%)
Exhibit 20: Comparison by Product