“Global Corporate Training Market to reach a market value of USD 582.6 Billion by 2031 growing at a CAGR of 6.8%”
The Global Corporate Training Market size is expected to reach $582.6 billion by 2031, rising at a market growth of 6.8% CAGR during the forecast period.
European businesses prioritize skills development and lifelong learning to enhance workforce productivity, adaptability, and competitiveness in a global economy. The training programs focus on upskilling and reskilling employees in emerging technologies, digital literacy, industry-specific knowledge, languages, and soft skills, aligning with industry demands and market trends. Consequently, the European region would acquire nearly 32% of the total market share by 2031.
Organizations that prioritize employee development through training show dedication to their employees' professional growth and career progression. In addition, well-designed training programs improve employee performance and productivity by enhancing job-specific knowledge, technical competencies, and operational efficiency. Thus, increasing focus on employee development and retention drives the market’s growth. Additionally, Remote and hybrid work arrangements necessitate the adoption of virtual learning platforms that facilitate online training and development. Likewise, virtual training platforms incorporate interactive features such as live chat, breakout rooms, polling, and collaborative tools that enhance participant engagement and interaction. Therefore, the rise of remote and hybrid work models drives the market’s growth.
However, developing engaging and informative training content requires expertise in instructional design, subject matter experts, and often external consultants. Furthermore, hiring skilled trainers or instructors can be costly, especially if they specialize in their fields. Therefore, the high development and delivery costs of comprehensive training programs are hindering market growth.
On the basis of industries, the market is segmented into retail, pharmaceutical & healthcare, professional services, financial services, public enterprises, information technology, and others. The pharmaceutical and healthcare segment acquired 21% revenue share in the market in 2023. Training in the pharmaceutical and healthcare sectors emphasizes patient safety protocols, infection control measures, medication management, and adverse event reporting.
Based on training program, the market is divided into technical training, soft skills, quality training, compliance, and others. The soft skills segment procured 23% revenue share in the market in 2023. As workplaces become more diverse and globalized, communicating effectively, collaborating across cultures, and managing diverse teams has become crucial.
Free Valuable Insights: Global Corporate Training Market size to reach USD 582.6 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 36% revenue share in the market in 2023. North America boasts advanced technological infrastructure and widespread access to digital tools, online learning platforms, and e-learning solutions.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 348.8 Billion |
| Market size forecast in 2031 | USD 582.6 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 6.8% from 2024 to 2031 |
| Number of Pages | 210 |
| Number of Tables | 320 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Training Program, Industries, Region |
| Country scope |
|
| Companies Included | The City and Guilds of London Institute, Business Training Library, LLC, Franklin Covey Co., Skillsoft Corporation, Allen Communication Learning Services, Wilson Learning Corporation, Learning Technologies Group Plc, Simplilearn Solutions Private Limited, Cornerstone OnDemand, Inc. and D2L Inc. |
By Training Program
By Industries
By Geography
This Market size is expected to reach $582.6 billion by 2031.
Increasing focus on employee development and retention are driving the Market in coming years, however, Logistical challenges of organizing and scheduling training restraints the growth of the Market.
The City and Guilds of London Institute, Business Training Library, LLC, Franklin Covey Co., Skillsoft Corporation, Allen Communication Learning Services, Wilson Learning Corporation, Learning Technologies Group Plc, Simplilearn Solutions Private Limited, Cornerstone OnDemand, Inc. and D2L Inc.
The expected CAGR of this Market is 6.8% from 2024 to 2031.
The Technical Training segment led the Market by Training Program in 2023; thereby, achieving a market value of $163 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $204 billion by 2031.
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 