The corporate training business in India has been a niche market that has grown steadily but has not yet been fully exploited and has enormous potential for growth in the years to come. The training approach has rapidly moved toward online training and content digitization. The corporate training market is in its boom phase, and there are many competitors there. Between 2013 and 2018, the market expanded at a double-digit rate, which predicts it will grow at a much higher pace during this forecasted period of 2025.
According to the research report, “India Corporate Training Market Outlook to 2025 driven by Introduction of Experimental Training, Greater Use of Artificial Intelligence and Increase in Government Initiatives to Boost Training” indicates that the introduction of e-learning training modules would be the key factor driving the growth of the India Corporate Training Market over the forecasted year of 2025. In the same way that corporate training boosts employee morale, it also raises productivity. One of the significant corporate training market trends that are anticipated to have a favorable impact on the sector in the coming years is the rise of wearable technology and mobile-based training.
- By Type of Training Services
The India Corporate Training Market in terms of the type of training services are Technical, Leadership, Managerial, Sales, Customer Management, and Others. Most often, the top level of management in an organization receives leadership training. However, when a new employee joins the company, technical training is offered at the entry-level. Instead of educating executives, organizations have been concentrating on supervisory and managerial training, which offers two advantages.
- By Industry
On the basis of industry, the market is categorized into Services, Manufacturing, Government, Retail or Wholesale, Education, Association, and Non-Profit Organizations. The services sector has dominated corporate training in India, whereas associations and non-profit organizations make up a very small portion of the industry. The interest in corporate training from the government and the educational system is growing. It has been observed that educational institutions, particularly technical ones, perform a variety of technical programs to prepare students for the workplace.
- By Designation of Employees
In terms of designation of employees, the India Corporate Training Market includes Non-Managerial Level, Managerial Level, and Integrated Level. Technical training is most commonly provided at the Non Managerial level, and the majority of personnel taught at this level are freshmen. The creative and business-enabling courses being produced by the training institutions contributed to the positive outlook for managerial training in India.
- By Type of Learning
The India Corporate Training Market in terms of the type of learning constitutes Open and Customized Learning. Customized training is in high demand in the Indian corporate training market. The two main justifications for program customization are time flexibility and audience relevance of the training.
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High fragmentation and consequent competition in the market are the results of the low cost of investment and a lack of entry barriers for incumbents. Overall, the market can be divided into three groups of players, based on the number of employees: 0-200, 200-500, and 500+. Some major key players in the India Corporate Training Market are:
- Manipal Global Education
- CADD Centre for Training
- Koenig Solutions
- Aptech Limited
- Centum Learning
Over the impending years, the Corporate Training Budgets are predicted to rise, as is corporate training in the hospitality sector, due to rising levels of employee attrition in India, which will boost the India Corporate Training Industry. Between FY 2019 and FY 2025, the market is anticipated to grow at a double-digit rate. Growing government support, the entry of new players, the growth of mid-size and small businesses, and the e-learning industry will all contribute to the market’s expansion.
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