Global Corporate Workforce Development Training Market 2017-2021
About Corporate Workforce Development Training
Corporate workforce development training is the training provided to employees who have joined organizations as freshers or have re-joined a specific job profile in the same organization. This training could be teaching of technical as well as non-technical skills. The learning gap emerges when the knowledge gained in universities and colleges is not enough to help an individual perform at workplaces. The foremost benefit of providing this training is that employees become well-aware of their roles and responsibilities related to the job.
Technavio’s analysts forecast the global corporate workforce development training market to grow at a CAGR of 13.26% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global corporate workforce development training market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Corporate Workforce Development Training Market 2017-2021
Technavio recognizes the following companies as the key players in the global corporate workforce development training market: Eton Institute, LearnQuest, NIIT, Pearson, and Wilson Learning.
Other Prominent Vendors in the market are: CARA Group, CTU, Dale Carnegie Training, GP Strategies, InfoPro Learning, Raytheon, and Skillsoft.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Expansion of businesses globally. Globally, SMBs have begun to play a stronger role in strengthening the respective region’s economic situation. Irrespective of the businesses conducted by each country’s SMB sector, they are recording a significant growth. Companies expect to gain a lot from the Asian countries. India and China are the primary focus regions for companies to invest in. Companies are also targeting countries such as Indonesia and Thailand. Therefore, there is a need to learn the culture and the etiquette of these regions to make the business successful.”
According to the report, one of the major drivers for this market is Strengthens employee induction programs. Workforce development training plays a vital role in bridging the learning gap of the new workforce. It helps employees in developing a fundamental understanding of the functioning aspects of their respective organizations. These training programs provide guidelines on ethics and practices followed in organizations. Furthermore, development training not only enhances the overall knowledge of employees but also gives employees a brief on ethics and practices being followed in organizations.
Further, the report states that one of the major factors hindering the growth of this market is Rise in market fragmentation. The primary challenge that will be faced by vendors in the global corporate workforce development training market is that the market is highly fragmented due to the presence of a large number of unorganized vendors or training providers. The presence of the unorganized sector is eroding the shares of leading vendors. The unorganized sector mainly comprises small-scale companies or regional vendors or educational program or online learning companies. These companies have been offering workforce development training to corporations, thereby, resulting in deteriorating market share of prominent vendors.
Eton Institute, LearnQuest, NIIT, Pearson, Wilson Learning, CARA Group, CTU, Dale Carnegie Training, GP Strategies, InfoPro Learning, Raytheon, and Skillsoft.