NEW YORK, Dec. 20, 2021 /PRNewswire/ --
IT Training Market Facts at a Glance-
NEW YORK, Dec. 20, 2021 /PRNewswire/ --
IT Training Market Facts at a Glance-
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According to the recent market study by Technavio, the IT Training Market Size is expected to increase by USD 10.59 billion from 2020 to 2025, with an accelerated CAGR of 8.43%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
North America will register the highest growth rate, occupying 35% of the global market share. The US and Canada are the key markets for IT training in North America. However, the market growth in this region will be slower than the growth of the market in APAC.
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Vendor Insights-
The IT training market is fragmented, and the vendors are deploying growth strategies such as the launch of new innovative products and mergers and acquisitions to remain competitive in the market.
GP Strategies Corp.: In June 2021, the company partnered with Technical Training Professionals to deliver high-end eLearning through GPiLEARN. In June 2021, the company launched an innovative automotive retail academy for the development of dealership professionals.
International Business Machines Corp.: In June 2021, the company acquired Turbonomic Inc., an application resource management (ARM) and network performance management (NPM) software provider. In June 2021, the company collaborated with GK Software to accelerate retail innovation.
Microsoft Corp.: In September 2021, the company acquired Clipchamp to empower creators. In September 2021, the company partnered with NIOS to make learners job-ready.
Oracle Corp.: In June 2021, the company partnered with Deutsche Bank to accelerate technology modernization. In May 2021, the company collaborated with The Trade Desk to usher in a new approach to identity.
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Regional Market Outlook
The IT training market growth in North America will be significant during the forecast period. The presence of major technology companies is creating significant growth opportunities for market vendors in the region. The report also offers a comprehensive analysis of the growth of the market across APAC, Europe, MEA, and South America. The UK, Germany, and India are identified as prominent markets for IT training outside North America.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Drivers & Trends Driving the Market-
Vendors in the market are focusing on expanding their market presence and customer base by forming strategic partnerships with other vendors in the market. For instance, in October 2018, Avaya Inc., partnered with Global Knowledge Training to provide training to Avayas' channel partners in Latin America and Canada. Similarly, in May 2018, Skillsoft announced its partnership with Shine Learning. Through this partnership, Shine Learning is providing its users access to Skillsoft's extensive learning portfolio. Such partnerships among vendors will have an accelerating effect on the growth of the global IT training market during the forecast period.
The concept of blended learning is gaining prominence among organizations. Blended learning offers a cost-effective method of engaging and imparting knowledge to employees. It also offers customization which allows users to integrate microlearning. Such benefits are increasing the demand for blended learning among end-users. This growing trend will have a positive impact on the global IT training market during the forecast period.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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IT Training Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.43% |
Market growth 2021-2025 |
USD 10.59 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.23 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 35% |
Key consumer countries |
US, Canada, UK, Germany, and India |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
GP Strategies Corp., International Business Machines Corp., Learning Tree International Inc., LearnQuest Inc., Microsoft Corp., NIIT Ltd., Oracle Corp., Pluralsight Inc., QA group of companies, and SAP SE |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact:
Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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