The Corporate Training industry is driven by the pace set by the covid-19 pandemic for digitization and offline to online transformation, employers need for multi skilled employees and expected rise in L&D expenditure: Ken Research
- To tackle the pandemic impact, as a cost saving measure organizations are replacing full time employees with contingent ones.
- In 2020, less than 1/3rd of L&D folks agreed that L&D had a seat at the executive table and a year later over 2/3rd L&D professionals agree to the same.
- Only 1 out every 2 youth in India is employable and over 3/4th of the organisations feels that there is wide skill gap in the industry
Covid-19 Pandemic Has Completely Transformed Learning as it used to be: The pace of digitization and offline to online transformation has been fast forwarded by at least 2-4 years due to the pandemic. Even though the pandemic had its effect in corporate training market, its likely to have positive implications in the long run. To ensure delivery of training many alternatives ways emerged and became popular like virtual classroom, computer based online modules and blended learning. Even though instructor led offline training is the most impacted and preferred way, in future over 1/3rd of training is likely to be delivered by digital and online mode.
Even though with market became more competitive with emerging popularity of self-based learning platforms, such companies have been able to increase the overall end user base for the training market by making modules and courses more accessible and affordable. The pandemic acted as an eye opener for many working professionals as they realised how under skilled, they are and reskilling and up skilling is imperative for career growth.
Target Addressable Audience for Quick Commerce: It is estimated that the global corporate training market size is estimated to be around $350-400 Bn. The Corporate Training Market in India is under penetrated and is in its growth stage. Even though USA has 1/4th of the India’s population, the L&D industry is worth over $100 Bn while in the India the same is less than a fraction of that of USA. There are around ~1.44 Mn active registered companies and ~61,000 recognized start-ups in India, therefore the opportunity pool is huge. With growing work from home culture, lack of skilled graduates and increasing L&D budgets there is lot of potential to be harnessed in the corporate training segment in India
Technologies Facilitating Business Operations: As trainings are being delivered online it has become very important for companies to keep a tab on learners’ engagement and interest and also measure the impact of training. While designing an e-learning program factors like program aesthetics, content consistency, content legibility and pictures and animations are need to be kept in mind to ensure programs are interactive and engaging. There will also be greater use of technologies like AI-ML, AR/VR, Metaverse and gamification to keep the learning program concise, flexible and more lifelike.
Analysts at Ken Research in their latest publication “Corporate Training Market India Outlook to FY’27F – Driven by Wide Acceptance of Online and Virtual Trainings and Organizations Need for Multi Skilled Tech Savvy Employees” believe that the Corporate Training market in India is expected to demonstrate strong growth owing to employers and employees need to reskill and upskill, rapid technological changes especially in IT and FinTech space and growing employment demand in service industry. The market is expected to register a positive CAGR of 16.3% in terms of revenue during the period FY’22P-FY’27F.
Key Segments Covered
- By Industry Verticals
- IT/ITES
- Telecom
- BFSI
- Retail/FMCG
- Manufacturing
- Automobile
- Healthcare
- By Types Of Training Service
- Technical
- Leadership
- Managerial
- Sales
- Customer Management
- By Sector
- Services
- Retail/Wholesale
- Manufacturing
- Government
- Education
- Association & Nonprofit Organization
- By Deployment
- On Site
- Off Site
- By Designation Of Employees
- Non-Managerial
- Managerial
- Integrated
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- By Major Cities
- Mumbai
- Delhi
- Bengaluru
- Hyderabad
- Pune
- Chennai
- Kolkata
- By Open & Customized Training
- By Type Of Organization
- MNC
- Domestic
- By Mode Of Learning
- Instructor Led Classroom Only
- Blended Learning
- Virtual Classroom
- Online or Computer Based Methods Only
- Mobile Only
- Social Learning
- By Scale Of Organization
- Large
- Medium
- Small
Companies Covered
- NIIT
- Manipal Global Education
- CADD Centre
- Aptech
- Centum Learning
- Koenig Solutions
- Hughes Global Education
Key Target Audience
- Corporate Training Companies
- Ed-tech Companies
- Self-Based Learning Platforms Companies
- Freelance Trainers
- Industry/Corporate Coach
- Contractual Professional Trainers
- Industry Veterans
- IT Solutions and Support Companies
- Top UG/PG Private Universities
- Retired Experienced Faculties
Time Period Captured in the Report: –
- Historical Period: FY’17-FY’22P
- Forecast Period: FY’22P-FY’27F
Key Topics Covered in the Report
- How is the Corporate Training Market positioned in India?
- Target Addressable Audience for Corporate Training Market in India Market
- Popular Courses and Their Prices
- Critical Decision-Making Criterions related to Pricing and Selection Process
- Freelance Trainers V/s Full Time Trainers
- Supply Ecosystem and Challenges
- Opportunity Matrix
- Market Size and Segmentation
- SWOT Analysis
- Upcoming Technologies & Trends in Corporate Training Market
- Investment Model and ROI in Corporate Training Business
- Competitive Landscape – Cross Comparison of Major Players
- Company Profiles
- Self-Based Learning Platforms
- Covid-19 Impact
- Analyst Recommendations & Cause Effect of certain Market Related Factors
- Research Methodology
For More Information, refer to below links:-
Corporate Training Market India Outlook to 2027
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