The report forecasts the global corporate training market to grow at a CAGR of 10.55% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend gaining traction in the market is migration towards NGDLE. The global corporate sector is strongly focusing on implementing cost-effective learning and development programs by merging traditional and digital learning formats. Thus, there will be an increased demand for tools such as next-gen LMS, which will lead to the emergence of next-generation digital learning environment (NGDLE). This can help them in developing efficient learning programs that have better retention rates.
According to the report, 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 significant growth. This factor has attracted heavy financial support from private and public sources of funds.
Further, the report states that vendors operating in the corporate training market in each region are facing fierce competition from unorganized market players. The market is highly fragmented and competitive in nature. The presence of numerous continuing education program providers, regional vendors, small-sized companies, and individual training providers is eroding the market share leading vendors.