LONDON--(BUSINESS WIRE)--The corporate training market in the US is expected to post a CAGR of over 10% during the period 2019-2023, according to the latest market research report by Technavio.
The growing diversity in learning requirements at the workplace has compelled vendors in the corporate training market in the US to provide high flexibility in learning platforms. Companies are increasingly encouraging mobility among employees and enabling them to work from outside office premises. Subsequently, vendors that provide corporate training services in the US are increasingly focusing on mobility, flexibility, and cross-device compatibility in terms of content delivery. Furthermore, vendors are offering digital learning platforms that enable employers to access and provide curated training content to employees. These platforms offer flexible multi-platform content deployment options and can be operated either as stand-alone learning systems or integrated with existing LMS. Thus, the growing flexibility in learning platforms and content delivery is expected to drive the growth of the corporate training market in the US during the forecast period.
As per Technavio, the rising popularity of microlearning will have a positive impact on the market and contribute to its growth significantly over the forecast period. This corporate training market in US 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Corporate Training Market in US: Rising Popularity of Microlearning
Organizations are increasingly encouraging the implementation of microlearning in corporate training programs and services to ensure effective learner engagement. Microlearning offers contextual, real-time content in the form of videos and other multimedia, which enables employees to learn at their own pace. Several factors fuel the popularity of microlearning in corporate training. The short duration of microlearning nuggets enables improved understanding, learning reinforcement, and knowledge retention among employees about any specific concept. Microlearning enables organizations to tackle time-based and resource-based constraints concerning corporate training. The compatibility of microlearning modules across multiple platforms and digital networks enables improved knowledge-sharing and peer connectivity' among employees. The rising popularity of microlearning is expected to aid the adoption of corporate training programs and services in the US during the forecast period.
“Apart from the rising popularity of microlearning, the growing incorporation of geofencing in corporate training and growing prominence of gamification are some other important factors expected to boost market growth during the forecast period,” says a senior analyst at Technavio.
Corporate Training Market in US: Segmentation Analysis
This market research report segments the corporate training market in the US by product (technical courses and non-technical courses), by end-user (manufacturing, healthcare, BFSI, IT, others), and by learning method (blended learning, offline learning, and online learning).
The blended learning segment led the market in 2018, followed by offline learning and online learning, respectively. During the forecast period, the blended learning segment is expected to maintain its dominance over the global market and register the highest incremental growth due to the low training cost involved in the segment.
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Market Sizing
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Five Forces Analysis
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Geographical Segmentation
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- Vendors covered
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