1. Global Corporate Training Market Introduction
The global corporate training market is a dynamic and evolving sector that plays a crucial role in enhancing employee skills and organizational performance. In 2024, the corporate training market is projected to reach a revenue of 173.78 billion with a CAGR of 9.47% from 2024 to 2029. This figure reflects the ongoing demand for professional development and the increasing emphasis on workforce upskilling and reskilling.
Corporate training, also known as workplace learning, encompasses a range of learning activities designed to improve employee performance and productivity. It includes both technical and non-technical training programs, covering areas such as leadership development, compliance training, technical skills enhancement, and soft skills improvement. The primary goal of corporate training is to enhance employees’ personal and professional development, thereby contributing to the overall success of the organization.
Global Corporate Training Market Revenue (B USD) in 2024
2. Driving Factors and Limiting Factors of Corporate Training Market
Technological Advancements: The rapid development of digital technologies has revolutionized the corporate training landscape. Online learning platforms, mobile learning applications, and virtual reality simulations offer flexible and engaging training solutions. These technologies enable organizations to deliver training programs more efficiently and effectively, reaching a wider audience and catering to diverse learning preferences.
Increasing Competition: In today’s highly competitive business environment, organizations are focusing on enhancing their employees’ skills to gain a competitive edge. Corporate training programs help employees develop the necessary skills to perform better in their roles, leading to improved productivity and innovation. As a result, companies are increasingly investing in training initiatives to ensure their workforce remains competitive.
Globalization: The expansion of businesses into global markets necessitates the need for employees to possess a diverse set of skills and knowledge. Corporate training programs enable organizations to equip their workforce with the skills required to navigate different cultural and business environments effectively. This includes language training, cross-cultural communication skills, and an understanding of international business practices.
Government Initiatives: Many governments around the world are promoting skill development and lifelong learning through various initiatives and incentives. These efforts encourage organizations to invest in corporate training programs, as they recognize the importance of a skilled workforce for economic growth and competitiveness.
3. Driving Factors and Limiting Factors of Corporate Training Market
The Budget Constraints: One of the primary challenges faced by organizations is budget limitations. Training programs can be costly, and companies with limited budgets may prioritize other business needs over investing in employee training. This can hinder the growth of the corporate training market, as organizations may opt for more cost-effective, traditional training methods or reduce the scope and quality of their training programs.
Resistance to Change: Some employees may be resistant to change and hesitant to adopt new learning methods or technologies. This resistance can stem from a lack of familiarity with digital tools, fear of job displacement, or a preference for traditional learning methods. Organizations need to address this resistance by providing adequate support, training, and communication to facilitate the adoption of new training approaches.
Lack of Standardization: The corporate training market lacks standardized training programs and evaluation metrics, making it difficult for organizations to measure the effectiveness and return on investment of their training initiatives. This lack of standardization can lead to inconsistencies in training quality and outcomes, affecting the overall growth and credibility of the market.
Talent Shortage: There is a shortage of qualified trainers and subject matter experts in certain industries, which can limit the availability and quality of corporate training programs. Organizations may face challenges in finding the right talent to design and deliver effective training, impacting the growth and effectiveness of the market.
4. Global Corporate Training Market Segment Analysis
Different Product Types of Corporate Training Market
The global corporate training market is diverse, offering various product types to cater to the unique needs of different industries and organizations. In 2024, the corporate training market is segmented into two primary product types: technical training and non-technical training.
Technical Training
Technical training focuses on enhancing the skills required to design, develop, implement, maintain, support, or operate specific technologies, applications, products, or services. This type of training is crucial for industries such as information technology, manufacturing, and engineering, where technical proficiency is paramount.
In 2024, the revenue for technical training is projected to be $55,601.94 million. This segment is driven by the rapid evolution of technology and the need for employees to stay updated with the latest advancements. Organizations invest heavily in technical training to ensure their workforce can effectively utilize new tools, software, and systems.
Non-Technical Training
Non-technical training encompasses a wide range of skills that are not directly related to specific technologies but are essential for overall professional development. This includes soft skills training, leadership development, compliance training, sales training, and more. Non-technical training is vital for enhancing communication, teamwork, problem-solving, and other interpersonal skills that contribute to organizational success.
The revenue for non-technical training in 2024 is expected to reach $118,181.78 million. This type of training has the largest market share due to its broad applicability across all industries. Organizations recognize the importance of non-technical skills in fostering a collaborative and productive work environment. As businesses continue to prioritize employee engagement and organizational culture, the demand for non-technical training remains strong.
While non-technical training holds the largest market share, technical training is experiencing the fastest growth rate. The rapid pace of technological innovation and the increasing reliance on digital tools in the workplace are driving the demand for technical training. Organizations are investing more in upskilling their employees to meet the evolving technological requirements.
Different Applications of the Corporate Training Market
Transportation Industry
In 2024, the revenue for corporate training in the transportation industry is projected to be $19,497.92 million. This application is driven by the need for compliance with safety regulations, technological advancements in transportation systems, and the increasing complexity of global logistics networks.
Healthcare
In 2024, the revenue for corporate training in healthcare is expected to reach 9,079.21 million USD. Training in this sector focuses on medical procedures, patient communication, regulatory compliance, and the use of medical technologies.
Retail
In 2024, the revenue for corporate training in retail is projected to be $18,162.09 million. As the retail landscape evolves with the rise of e-commerce and changing consumer preferences, organizations are investing in training to equip their employees with the skills needed to succeed in a competitive market.
Energy & Manufacturing
In 2024, the revenue for corporate training in this application is expected to reach $47,496.45 million. This application has the largest market share due to the critical nature of operations in these industries and the need for continuous improvement in processes and technologies.
Finance
In 2024, the revenue for corporate training in finance is projected to be $21,204.23 million. The growth of this application is driven by the increasing complexity of financial markets and the need for professionals to stay updated with regulatory changes and technological advancements.
Construction
In 2024, the revenue for corporate training in construction is expected to be $32,986.27 million. This application is supported by the ongoing demand for infrastructure development and the need for skilled workers to meet safety and quality standards.
Among the various applications, energy & manufacturing holds the largest market share due to the critical nature of operations and the need for continuous improvement in these industries. However, the retail sector is experiencing the fastest growth rate, driven by the rapid changes in consumer behavior and the increasing integration of digital technologies in retail operations. Organizations in the retail sector are investing heavily in training to adapt to these changes and enhance their competitive edge.
Market Revenue and Share by Segment
| Market Revenue (M USD) in 2024 | Market Share in 2024 | ||
| By Type | Technical Training | 55601.94 | 31.99% |
| Non-Technical Training | 118181.78 | 68.01% | |
| By Application | Transportation Industry | 19497.92 | 11.22% |
| Healthcare | 9079.21 | 5.22% | |
| Retail | 18162.09 | 10.45% | |
| Energy & Manufacturing | 47496.45 | 27.33% | |
| Finance | 21204.23 | 12.20% | |
| Construction | 32986.27 | 18.98% |
5. Analysis of Global Corporate Training Market by Region
United States
The United States remains the largest regional corporate training market. In 2024, the revenue for the corporate training market is projected to be $74118.17 million. This dominance can be attributed to several factors. Firstly, the region is home to numerous large corporations and innovative startups that prioritize employee development and training. These organizations invest heavily in training programs to enhance their workforce’s skills and competitiveness.
Europe
Europe is the second-largest regional market for corporate training, with a revenue of $38021.57 million in 2024. The region’s market is driven by its diverse economy, which encompasses various industries such as manufacturing, finance, and technology. European organizations are increasingly focusing on training to adapt to the rapidly changing business environment and to meet the evolving demands of the European Union’s regulatory landscape. The region also benefits from a strong emphasis on education and professional development, with many countries investing in initiatives to enhance the skills of their workforce.
China
China is the fastest-growing corporate training market with a revenue of $31195.07 million in 2024. Organizations in the region are increasingly recognizing the importance of corporate training to enhance productivity, innovation, and competitiveness. Additionally, the region is experiencing a surge in digital transformation initiatives, which is creating new opportunities for training providers to offer innovative solutions tailored to the unique needs of businesses.
In conclusion, the global corporate training market in 2024 is marked by significant regional differences in revenue and growth. The US leads in terms of revenue, driven by its large corporations and advanced training infrastructure. Meanwhile, China is experiencing the fastest growth, fueled by rapid economic development and increasing demand for skilled employees.
Global Corporate Training Market Revenue (M USD) by Region in 2024
6. Top 3 Companies in the Global Corporate Training Market
Skillsoft is a leading global provider of corporate digital learning solutions. Founded in 1998, the company offers a comprehensive suite of products designed to enhance employee performance and productivity. Skillsoft’s solutions include e-learning courses, learning management systems, and performance support tools. The company serves a wide range of industries, including finance, healthcare, technology, and manufacturing.
Skillsoft’s product offerings encompass various types of training programs, such as leadership development, compliance training, IT skills training, and business skills training. Their Percipio platform provides personalized, immersive, and accessible learning experiences, allowing employees to engage with content through videos, books, podcasts, and interactive courses. Skillsoft also offers a vast library of courses covering topics like project management, data analysis, and cybersecurity.
In 2022, Skillsoft reported a sales revenue of $619.32 million.
GP Strategies Corporation is a global provider of sales and technical training, e-learning, management consulting, and engineering services. Founded in 1959, the company has a diverse range of clients across various industries, including automotive, aerospace, and pharmaceuticals. GP Strategies Corporation is known for its expertise in delivering customized training solutions that help organizations achieve their strategic objectives.
The company offers a wide array of training products, including combined cycle plant performance courses, business skills training, Microsoft Office training, and legal compliance courses. GP Strategies Corporation also provides e-learning solutions through their GPiLEARN+ platform, which offers a flexible and scalable approach to training delivery. Additionally, they offer consulting services to help organizations optimize their training programs and improve overall performance. In 2022, GP Strategies Corporation reported a sales revenue of $570.81 million.
Franklin Covey Co. is a renowned coaching company that specializes in leadership development, individual effectiveness, and business execution. Founded in 1997, the company offers training and assessment services to organizations and individuals worldwide. Franklin Covey Co. is known for its focus on helping organizations achieve lasting changes in human behavior, which is often considered one of the most challenging aspects of organizational development.
The company’s product offerings include leadership development programs, employee engagement training, culture-building solutions, and performance improvement initiatives. Franklin Covey Co. offers a variety of courses and workshops designed to enhance skills such as communication, decision-making, time management, and teamwork. Their All Access Pass® provides clients with access to a wide range of content and resources to support continuous learning and development.
In the latest year, Franklin Covey Co. reported a sales revenue of $230.40 million.
Major Players
| Company Name | Headquarter | Sales Region |
| Skillsoft | USA | Worldwide |
| GP Strategies Corporation | USA | Worldwide |
| Franklin Covey Co. | USA | Worldwide |
| City & Guilds Group | UK | Worldwide |
| Simplilearn Solutions | India | Worldwide |
| SUNLANDS | China | Worldwide |
| D2L | Canada | Worldwide |
| Business Training Library, Inc. | USA | USA |
| GBS Corporate Training | UK | Worldwide |
| Allen Communication Learning Services | USA | Worldwide |
| Skills Training UK | UK | Worldwide |
| Wilson Learning Worldwide, Inc. | USA | Worldwide |
| Phoenix Training and Development | UK | Worldwide |
| ProTrainings | USA | Mainly in America, Europe, APAC |
| Bauer Academy | UK | Mainly in Europe |