Europe Corporate Training Market size to increase by USD 43.03 billion during 2022-2027| Digitization of learning materials is notably driving the market growth- Technavio

NEW YORK, Dec. 17, 2023 /PRNewswire/ -- The Europe Corporate Training Market size is expected to grow at a CAGR of 7.41% during the forecast period.

What is the projected size of the Europe Corporate Training Market in the next five years?

The Europe Corporate Training Market is projected to reach a value of USD 43.03 billion in 2027. Download Free Sample before buying

Key Highlights:

What are some of the major companies operating in the Europe Corporate Training Market? 

Articulate Global Inc., Blanchard Training and Development Inc., Cegos Group, Cisco Systems Inc., City and Guilds Group, Cornerstone OnDemand Inc., D2L Corp., DEMOS, Development Dimensions International Inc., Franklin Covey Co., John Wiley and Sons Inc., Korn Ferry, Learning Technologies Group Plc, Mind Gym Plc, NIIT Ltd., Richardson Sales Performance, Skillsoft Corp., Wilson Learning Worldwide Inc. and BTS Group AB

What kind of nature is the Europe Corporate Training Market?

The market is fragmented in nature.

How much is the YOY growth in 2023?

Market to observe 6.65% YOY growth in 2023.

How Corporate Training Initiatives Drive Professional Development and Organizational Growth?

• Corporate Training: Evolving to meet the dynamic needs of modern workplaces, fostering Professional Development and continuous Employee Learning.
• Skill Enhancement initiatives through diverse Training Programs drive holistic Workforce Development, utilizing advanced Learning Management Systems (LMS) and innovative E-Learning approaches.
• Tailored Training Modules focus on honing Leadership Development and nurturing Soft Skills essential for workplace success.
• Emphasis on Technical Training aligns with strategic Human Resources (HR) objectives, promoting employee growth and Employee Engagement.
• Collaboration with specialized Training Providers supports organizational Digital Transformation, enhancing Corporate Learning initiatives and elevating Employee Performance.
• Talent Management strategies integrate engaging methodologies like Gamification and mobile-driven Mobile Learning for effective knowledge dissemination.
• Critical Compliance Training paired with immersive Virtual Reality (VR) Training modules reshapes learning experiences, while Learning Analytics fuels insights for Continuous Learning paradigms.
• Recognizing the value of Professional Certification in enhancing Employee Productivity, ongoing Training Needs Analysis refines learning strategies for optimal impact.

Market Dynamics:

What are the main growth drivers for the Europe Corporate Training Market?

• The market growth in Europe's corporate training sector is propelled by the digitization of learning materials, driven notably by the adoption of cloud-based services like CMS and corporate training platforms.
• Technological advancements and the shift towards digital processes in corporate training have led to cost reduction, heightened efficiency, and increased popularity of online learning, enabling employees to save time and money in reskilling efforts.
• The rising preference for online corporate training offerings is expected to fuel further market growth in Europe during the forecast period, catering to the evolving needs of employees seeking flexible and efficient learning solutions.

What trends are emerging in the Europe Corporate Training Market?

• The market growth in corporate training is being influenced by the emergence of IoT and wearable devices, witnessing increased adoption of digital solutions such as e-learning and innovative wearable apps for efficient training implementation.
• Wearable devices, including smart glasses like Google Glass and smartwatches like Apple Watch, are gaining traction among corporate trainers, offering convenient solutions for monitoring trainee performance and enhancing interactive learning experiences.
• Collaboration between wearable devices and educational technologies like AR and VR holds significant potential in creating immersive simulations for enhanced learning and development within modern organizational setups.

What are some of the challenges faced by the Europe Corporate Training Market?

The Europe corporate training market faces a notable challenge from in-house training initiatives driven by favorable market conditions, especially prevalent in sectors like construction, automotive, and BFSI, posing stiff competition to external vendors.

Companies within these sectors often possess dedicated training departments, substantial resources, and sufficient expertise, enabling them to provide in-house training, reducing reliance on external vendors and impacting the growth potential of the corporate training market.

Increasing competition from in-house training endeavors presents a hindrance to the anticipated growth trajectory of the corporate training market in Europe during the forecast period.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

How is the Europe Corporate Training Market segmented by type?

A substantial rise in market share is expected for technical courses within the Europe corporate training sphere. This growth signifies a steady expansion in the corporate training market, particularly emphasizing technical courses aimed at coaching and mentoring employees to execute job-specific technical tasks with enhanced precision and comprehensiveness.

What are the different segments within the Europe Corporate Training Market?

The market is segmented by market segmentation by product (technical course and non-technical course), type (blended and e-learning) and geography (Western Europe, Nordic Countries, Southern Europe, Central and Eastern Europe).

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Empowering Workforces: Dynamics and Evolution of Corporate Training Initiatives

The Corporate Training market is undergoing a dynamic shift, driven by a surge in demand for skill enhancement and professional development initiatives. Organizations are increasingly investing in Employee Learning, leveraging diverse Training Programs and Learning Management Systems (LMS) to foster Workforce Development. E-learning modules have become integral, facilitating convenient access to Training Modules, particularly in areas like Leadership Development and Soft Skills Training.

The landscape of Corporate Learning is evolving, with a heightened focus on Technical Training and Human Resources (HR) development. Engaging employees through Employee Engagement strategies is paramount, aligning Training Providers with the goals of Digital Transformation and Employee Performance enhancement.

Talent Management strategies encompass the gamification of learning experiences and the rise of Mobile Learning platforms, ensuring effective training dissemination. Compliance Training remains crucial, with Virtual Reality (VR) Training modules enhancing learning experiences and Learning Analytics providing insights for Continuous Learning programs.

Professional Certification programs further augment Employee Productivity, while Training Needs Analysis continually refines training strategies. The integration of these diverse elements underscores the evolving nature of the Corporate Training market, emphasizing the importance of skill development and continuous learning in today's dynamic workforce.

Related Reports:

The corporate training market size is estimated to grow at a CAGR of 9.69% between 2022 and 2027. The market size is forecast to increase by USD 56.92 billion. 

The corporate training market share in US size is estimated to grow at a CAGR of 6.49% between 2022 and 2027. The market size is forecast to increase by USD 12,906.91 million

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product 

7 Market Segmentation by Type 

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company  Analysis

13 Appendix

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SOURCE Technavio