India Corporate Training Market Forecasts to 2020 - Incremental Allocation of Training Budgets in MSMEs and PPP in Skill Development Initiatives to Propel Growth
LONDON, Sept. 26, 2016 /PRNewswire/ --
Executive Summary
The report titled "India Corporate Training Market Forecasts to 2020 - Incremental Allocation of Training Budgets in MSMEs and PPP in Skill Development Initiatives to Propel Growth" which provides a comprehensive analysis of the corporate training market in India. The report covers various aspects such as overall size of India corporate training market, segmentation on the basis of demand from major sectors, training services, industry, mode of learning, training demand from level of employees, major cities, demand for open and customized learning, different learning tools, learning modes, demand from small medium and large organizations, and demand from MNCs and domestic organizations.
The report also covers the investment model, decision making procedure and pricing analysis in the industry. Additionally, the report offers prevalent trends, developments and challenges in industry, Porters and SWOT analysis of the current market. The report also covers the competitive landscape of the industry, market share of major players, and comprehensive profile of leading and emerging players operating in the market. Moreover, the report also offers information regarding the business models and exhaustive list of revenue streams of a typical corporate training company operating in the segment. Major macroeconomic indicators affecting the market have also been highlighted in the report. The report is useful for existing corporate training companies and other talent and development agencies, freelancers, consultants, emerging players who wish to capitalize the market potential and investors who are looking forward to venture into the corporate training market in India.
The market for corporate training has witnessed positive technological advances which had significantly altered the training methodology across organizations. E-learning has eased the conduction of training programs for geographically diversified teams. Also, organizations have showcased greater inclination towards blended modules from the traditional instructor-led classroom trainings. Company budget allocation towards corporate training has seen an increment from being ~% five years ago to approximately ~% of the overall company cost currently. Larger organizations and MNCs spend around ~% of their overall cost on corporate training programs. Training programs has evolved from being just a tool for employee skill upgradation to a medium for developing strategic initiatives to streamline business goals. The corporate training market in India scaled at a CAGR of ~% over the period FY'2010-FY'2015 to register revenues worth INR ~ billion in FY'2015. Global expansion of businesses and confrontation of domestic as well as global competition has been a major growth driver for the market.
Corporate trainings have also been an important mechanism for employee retention which has lent a positive push for the development of market in India. A significant challenge for the market has been the unavailability of any robust measure to gauge the effectiveness of training programs. IT/ITES accounted for a massive ~% of the revenue generation in the market. The nature of the work itself requires specialized trainings and the continuous development in software applications have further widened the requirements. IT companies in India have been allocating ~ months of training at an average cost of INR ~ per enrollee. Telecom has been one of the fastest growing sectors in India, expanding at the rate of ~% per year and has emanated as one of the major consumer base accounting for around ~% of the overall revenue generation in the market. Expenditure on technical trainings across sectors accounted for ~% of the overall revenue generation in the industry. Leadership trainings accounted for ~% of the overall market revenue which was followed by managerial and sales trainings that accounted for ~% and ~% respectively in the revenue split.
An aggregate of ~% of the trainings were outsourced in the Indian market. Moving on to the training demand from different level of employees, trainings at the non-managerial levels generated ~% of the revenues for the overall market. Mumbai accounted for the highest revenue generation garnering a share of ~% of the overall market revenue in FY'2015. Mumbai was followed by Delhi NCR as the major demand base for corporate trainings. Cities like Gurgaon, Noida and New Delhi has made NCR a corporate hub and the consolidated training expenditure from the region accounted for ~% of the overall market revenue. Bangalore, Pune, Hyderabad and Chennai have been the other major cities catering to the growth of training market in India. Indian corporate training landscape is marked by a considerable demand for customized trainings. Only ~% of the trainings were consumed without any modification.
Mobile learning is still at a nascent stage in India and is rarely used as a training tool due to connectivity and bandwidth issues in the country. Instructor-led classroom trainings had a dominant share of ~% in various modes of learning in the corporate structure. ~% of all trainings were done through the blended module. Virtual classroom and mobile learning did not had much traction and would take some more time to pick up in India. Mid-sized businesses were found to organize on an average ~ training days annually and accounted for ~% of the revenue generated in the corporate training market while large sized businesses shared ~% of the share. Domestic organizations in lieu of imitating the MNC culture have been undertaking regular training programs and deploying increased budgets for the same. Corporate training in MNCs accounted for ~% of the revenue share in FY'2015.
Low cost of investment and lack of entry barriers for incumbents has led to high competition in the market. NIIT and Manipal Global are the market leaders currently with possession of ~% and ~% of the market shares respectively. While NIIT specializes in providing IT courses, Manipal is the dominant player in the BFSI segment. The top 5 players accounted for ~% of the market share in FY'2015 while the rest each had a maximum of ~% of the market share.
Learning technologies such as self-authored video, online channels, virtual classroom learning, and MOOCs (Massive Open Online Courses) will have an exploratory rise in the near future. Hyderabad, Chennai and Bangalore are projected to witness major growth in the training and development segment. Also, the volume of middle management and younger managers seeking training in India is expected to rise significantly in the next 2-3 years. "Make in India" campaign will propel heavy FDI in the manufacturing sector thus enabling the training and development needs in the segment. Training budgets in steel, mineral, power is expected to go up by ~% while the services sector will retain its supremacy in the market. As far as opportunities are concerned, the NSDC initiative has significantly broaden the industry potential and implementation of proper mix of strategy and efficient technology adoption will help stakeholders prosper immensely. The corporate training market in India is projected to touch INR ~ billion by FY'2020 at an impressive CAGR of ~%.
Key Topics Covered in the Report:
- The Market Size of India Corporate Training Market.
- Growth Drivers and Challenges in India Corporate Training Market.
- Decision Making Procedure for Corporate Training Programs in India.
- Pricing Analysis in India Corporate Training Market.
- Market Segmentation by Demand from Major Sectors, Training Services, Industry, Mode of Learning, Training Demand from Level of Employees, Major Cities, Demand for Open and Customized Learning, Different Learning Tools, Learning Modes, Demand from Small, Medium and Large organizations, and Demand from MNCs and Domestic Organizations.
- Market Share of Major Players in India Corporate Training Market.
- Business Model in India Corporate Training Market.
- SWOT Analysis of India Corporate Training Market.
- PORTER's Five Forces for India Corporate Training Market.
- Investment Model in India Corporate Training Market.
- Future Projections for India Corporate Training Market.
- Profiles of Leading and Emerging Players in India Corporate Training Market.
- Business Model in India Corporate Training Market.
- India Corporate Training Market Future Projections and Outlook.
- Analyst Recommendations.
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