Corporate Training Market in Europe 2016-2020
About Corporate Training Market in Europe
European corporations are making extensive investments toward digitizing training processes, as it enables quick and convenient delivery of training content to employees. Digitization helps overcome traditional restrictions such as adherence to a set time and place of training. Online training methods are gaining popularity as they help reduce costs related to traditional instructor-led training sessions. Many organizations prefer using standardized courses provided by training content developers. Large companies are also interested in customizing their content through these developers, which results in additional costs. The need for content development generates substantial revenue opportunities for vendors in the market.
Technavio’s analysts forecast the corporate training market in Europe to grow at a CAGR of 8.83% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the corporate training market in Europe for 2016-2020. To calculate the market size, it considers the revenue generated through the sales of training products and related services for a fee or subscription.
The market is divided into the following segments based on product:
Technavio Announces the Publication of its Research Report – Corporate Training Market in Europe 2016-2020
Technavio recognizes the following companies as the key players in the corporate training market in Europe: City & Guilds Kineo, GP Strategies, MHI Global, NetDimensions, and Skillsoft.
Other Prominent Vendors in the market are: Articulate, Computer Generated Solutions, Desire2Learn, Global Training Solutions, Interaction Associates, New Horizons Computer Learning Centers, NIIT, QA, Tata Interactive Systems and Wilson Learning Worldwide.
Commenting on the report, an analyst from Technavio’s team said: “Continuous learning opportunities will be a key trend for market growth. Organizations are shifting their focus on the life-long learning aspects of employees. The majority of organizations have online training portals and programs in place to provide training to their employees. However, apart from formal training sessions, employees are inclined toward taking up learning courses and programs that provide them a competitive edge over other employees. Companies are focusing on such type of training and development of their human capital to offer horizontal development opportunities for their employees.”
According to the report, need for employee engagement will be a key driver for market growth. The organizations in Europe are facing various challenges in terms of enhancing their workplace culture, employee engagement, leadership, and L&D. These aspects restrict the internal as well as external growth of companies, further affecting the profit margins of companies. Employee engagement is a critical factor for organizations to achieve higher productivity. The impact of effective employee engagement policies is reflected in crucial aspects such as employee satisfaction and loyalty. These factors further translate to better financial output of the organization.
Further, the report states that credibility issues will be a challenge for the market. As the market is expanding exponentially, there has been an influx of training solution providers, which is likely to increase in the coming years. With the growing number of corporate training providers, the market is facing issues related to credibility of courses offered by training institutions. The quality of training programs offered by such institutions is not comprehensive and reliable. These training programs may lack exhaustive course content or the availability of competitive faculty and industry experts. In addition, the lower brand visibility of such institutions is unable to attract end-users. While large organizations with knowledge regarding the content of a specific course are able to differentiate vendors based on quality, SMBs running on tighter L&D budgets may not possess the required expertise. It is essential for training institutions to possess the right accreditations, licenses, and certifications to increase their brand awareness in this fragmented market.
City & Guilds Kineo, GP Strategies, MHI Global, NetDimensions, Skillsoft, Articulate, Computer Generated Solutions, Desire2Learn, Global Training Solutions, Interaction Associates, New Horizons Computer Learning Centers, NIIT, QA, Tata Interactive Systems Wilson Learning Worldwide.
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