LONDON--(BUSINESS WIRE)--The corporate training market is expected to grow by USD 52.7 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Microlearning, bite-sized learning, or nano degrees is one of the trending concepts in the corporate training market. It is ideal for addressing training challenges that arise due to the short attention span of learners. Microlearning delivers standalone modules or learning content in information nuggets. Since these courses are focused, short, and bite-sized, they help reduce cognitive load and increases the retention power of the learners. As a result, organizations are increasingly adopting microlearning over traditional training formats. Thus, the popularity of bite-sized learning model is increasing, which will drive the growth of the market during the forecast period.
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As per Technavio, the emergence of IoT and wearable devices will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Global Corporate Training Market: Emergence of IoT and Wearable Devices
The Internet of Things (IoT) and wearable devices have gained traction in the corporate training industry over the last few years. 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 also gaining popularity among corporate trainers for the creation of interactive and immersive learning experiences. Corporate training through wearable tools, including smartwatches, enable performance improvement of employees and learners through immediate alerts on tasks performed incorrectly. Thus, the emergence of IoT and wearable devices is expected to drive the growth of the market during the forecast period.
“Factors such as the increasing use of gamification in corporate training, and growing popularity of learning analytics will have a positive impact on the growth of the corporate training market value during the forecast period,” says a senior analyst at Technavio.
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Corporate Training Market: Segmentation Analysis
This market research report segments the corporate training market by product (technical training and non-technical training), and geography (APAC, Europe, MEA, North America and South America).
The North American region led the corporate training market in 2019, followed by Europe, APAC, MEA and South America. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as the presence of many MNCs and large organizations in the region and increasing focus of many MNCs and other large organizations on expanding their geographical presence.
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Some of the key topics covered in the report include:
Product
- Technical training
- Non-technical training
Geographic Segmentation
- APAC
- Europe
- MEA
- North America
- South America
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
