Published on : Dec 29, 2016
Albany, New York, December 29, 2016: Corporate training has a vital importance in today's corporate centric world. A new report focusing on the corporate training market has been broadcasted to the vast archive of Market Research Hub (MRH), titled as “Corporate Training Market in the U.S. 2016-2020”. The main focus of the study is to analyze the present scenario and growth prospects of the market primarily in the U.S. during the forecast period of 2016 to 2021. Key trends, drivers and challenges of the market are also discussed. Research analysts have estimated the U.S. market for corporate training to expand at a CAGR of 9.54% from 2016 to 2020.
Initially, the report briefly highlights the market overview along with an introduction and market segmentation. Moreover, to assess the market size, the report studies the revenue produced from the sales of training products and associated services for a fee or subscription. From the past few years, exaggerated competition and skilled gaps in the corporate sector has pushed organizations into business modification regionally and internationally, increasing the need for proper training and development of the productive workforce. This training improves the effectiveness of workers and eventually helps the company vitality ahead on the corporate path. It can be defined as, a training that helps employees to improve skills and boost performance by focusing on professional development.
Further, the corporate training market in U.S. has been segmented by product, such as Technical training and Non-technical training. In the U.S., the technical training segment is leading which will also continue over the forecast period. According to the report, one of the major drivers observed by the study is the growing popularity of training through social collaboration tools. Through social network, employees can engage to easy learning options via blogs, wiki and discussion forums. Many leading companies in the U.S. such as GE, P&G and Verizon have initiated to include social media as part of the corporate learning programs. Also, the latest trend gaining massive popularity is m-learning and increasing use of gamification tools. Moreover being cost-effective, m-learning also supports the specific online employment-oriented training programs on mobile phones.
By looking to these features, the report also studies that it offers a significant opportunity for training solution providers to expand their business by offering products & services related to corporate training. Also, one of the major challenges discussed in the report are the rising penetration of MOOCs (Massive open online courses).
At present, key vendors in the market have come up with innovative products and services to assist organizations in various training efforts. Currently, major vendors operating in the U.S. are:
- Miller Heiman
- GP Strategies
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Some of the prominent vendors are Allen Interactions, Certpoint Systems, Desire2Learn, NIIT, Intuition Publishing and others.
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