Corporate Workforce Development Training Market Opportunities, And Market Forecast To 2027


Posted June 16, 2020 by rohit890

Corporate workforce development training is provided to the employees who have newly joined the organization as fresher or have re-joined a new organization on the same or different post.
 
Market Overview

Corporate workforce development training is provided to the employees who have newly joined the organization as fresher or have re-joined a new organization on the same or different post. Corporate workforce development training includes training of technical as well as non-technical skills, depending on the need of an organization.

Training programs such as business language skills cross-cultural skills, and communication skills etc. also use the online learning model. This online method of knowledge delivery is advantageous for organizations as employees can watch videos according to their convenience, and trainers can effectively assess an employee’s performance during training sessions.

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Market Dynamics

Organizations across the globe are adopting many computer languages to speed up the input and output processes of machines. Moreover, organizations, mainly consulting companies, are adopting computer languages such as python, and R for data processing, manipulation, and visualization. These programming languages increase the programming speed as they contain many libraries and extensions, and add features such as a number of graphical libraries, and a wide number of array packages. Implementation of new languages by organizations is fuelling the adoption of corporate workforce development training. This includes training in various computer languages such as JavaScript, Java, C#, C++, and ruby.

Moreover, the growing IT industry is expected to drive the adoption of corporate workforce training in the IT industry. Technical workforce training includes training for various IT languages such as C, C++, Java, and Python. Organizations provide training to their employees depending on their roles and responsibility. For instance, according to India Brand Equity Foundation, The IT-BPM (business process management) sector in India stood at US$ 177 billion in 2019 witnessing a growth of 6.1% year-on-year and it is estimated that the size of the industry will grow to US$ 350 billion by 2025.

On the basis of region, the global corporate workforce development training market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

In 2018, the North America region accounted for the largest share in the corporate workforce development training market, and it is expected to retain its dominance during the forecast period owing to presence of companies such as Google, Microsoft, and IBM. For instance, according to Coherent Market Insights' analysis, in 2020, the global IT industry is expected to reach US$ 5.18 trillion, and the U.S. is expected to hold the largest share of around 31% in 2020. This is expected to facilitate growth of the market over the forecast period in North America.

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Some of the key players operating in the global corporate workforce development training market include CARA Group, Dale Carnegie & Associates, Inc., Eton Institute, GP Strategies Corporation, Infopro Learning, Inc., LearnQuest, Inc., NIIT Limited, Pearson, Raytheon Company, Skillsoft Corporation, Wilson Learning Worldwide Inc. and others.

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Last Updated June 16, 2020