Showing posts with label US Corporate Training Industry. Show all posts
Showing posts with label US Corporate Training Industry. Show all posts

Wednesday, May 6, 2020

US Corporate Training Market and US Corporate Training Industry: Ken Research

usa-corporate-training-market
Changing the working style and increasing the use of technology will drive the employee training demand. Companies will shift from the traditional classroom training to the digital training set-up which will enable businesses to operate efficiently while ensuring employee safety.
As more than 70% of businesses in the United States are working from home in response to the novel coronavirus, classroom training scheduled in the month of June has been either postponed or are canceled. Does this mean employers are going to pause the re-skilling process?
Currently, there are unprecedented economic challenges that have dampened the overall business environment. Companies are experiencing falling consumer demand and are losing an excessive amount of money. Various companies are also expected to resort to downsizing to compensate for the loss. As a part of business cost-cutting, companies are also expected to slacken their training expenditure.
However, companies cannot completely stop the process of employee skilling and up-skilling. The increasing digitalization of business operation and growing need to adapt to the remote workstyle will lead to a requirement of both unit-level up-skilling as well as organization-wide transformational training. As a part of the company’s COVID response strategy, there will be an increase in demand for technical as well as non-technical training such as teaching remote-working skills, remote-management skills, leadership skills in a time of crisis and others.
Online training will come to the rescue of businesses to help them revive from the situation and also to maintain social-distancing protocols that will ensure safety. However, the online training process is highly dependent on technology which will compel companies to resort to outsourcing the training to ensure efficient training delivery. Enterprises can also leverage on the train the trainer services to prepare managers. Companies will be also looking to explore different digital learning methodologies such as virtual learning, social learning, mobile learning, and microlearning platforms.
According to the report by Ken Research titled “USA Corporate Training Market Outlook to 2025- Driven by Growing Skill Gap due to Increasing Use of Technology and Introduction of Online Training Methodologies” the online training demand will value more than USD 40 billion by 2025. Companies will be looking for the development of customised training strategies in sync to its COVID response strategy to enable employees to adapt and evolve from the crises.
Key Segments Covered: -
By End User Industry
BFSI
IT and Telecom
Healthcare
Automotive
Manufacturing
By Training Services
Technical
Leadership
Managerial
Sales
Customer Support
By Delivery Mode
Classroom Training
Blended Training
Virtual Training
Online Training (No Instructor)
By Organizational Size
Large Companies (+1000 Employees)
Medium Companies (500-1000 Employees)
Small Companies (0-500 Employees)
By Designation
Managerial
Non-Managerial
Integrated
By Deployment
On-Site
Off-Site
By Training Type
Customized
Open
Companies Covered:
GP Strategies
Franklin Covey
NIIT
Learning Tree International
Global Knowledge
Pluralsight
Centre for Creative Leadership
Skillsoft
Udemy
Udacity
Coursera
Simplilearn
Key Target Audience
Corporate Training Companies
Education Platforms
Corporate Training Aggregators
Corporate Organizations
Management Consultants
Corporate Trainers
MHRD
Education Associations
Time Period Captured in the Report: -
Historical Period: 2014–2019
Forecast Period: 2020-2025
Key Topics Covered in the Report: -
US Online Corporate Training Market
US Corporate Training Industry Research Report
US Managerial Corporate Training Market
Top Blended Service Providers in USA
Employee Training in Automotive Industry US
US Corporate Training in Telecom Industry
US Employee Training Industry
US Ed-Tech Market Growth
US Corporate E-Learning Industry
Training industry in the U.S
Corporate Training Companies in U.S
Education Platforms in the USA
Managed Employee Training Services US
Corporate Training in America
US Corporate Training Market Major Players
For More Information on the Research Report, refer to below links: -
Related Reports by Ken Research: -
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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Location: United States

Thursday, April 23, 2020

Evolution of US Corporate Training Industry: Shift from Traditional Classroom Training to Digital Training: Ken Research

The traditional mindset has to lead to companies restricting employee training within the classroom set-up and has acted as inertia to online training for many years. However, growing need for flexibility, changing workstyle, use of experimental training, and the growing importance of training assessment are driving the demand for online training.
 Changing Workstyle: Companies lose 25% of all new employees within the first year. In order to decrease attrition rates companies are resorting to providing workstyle flexibility to its employees. In response to this companies have developed the hub and spoke office structure. Also, in response to the global pandemic COVID-19, many companies in the USA are working from home. The growing remote workstyle has led to the increasing use of online training methodologies.
 Shift towards Experimental Training: Experimental training refers to learning by doing. It includes different methods and technologies including stimulation, gaming, sensitivity training, case studies, and others. Experimental training increases focus and give better results which encourage other enterprises to undergo training. According to the survey conducted by eLearning Industry, 79% of employees believe that that they will be more productive and motivated if their learning environment was more like a game.
 Introduction of Microlearning Modules: An average American worker works 47 hours a week. Microlearning modules that are bite-sized self-paced courses enable employees to complete the training process within a shorter time period. As a result of which employees do not have to give extra hours for training. It also ensures higher completion rates and better training results.
 Advent of Mobile Learning and Social Learning: A growing number of teleworkers has to lead to the increasing use of innovative training delivery methods such as mobile and social learning. With the help of geo-fencing, information related to training can be passed on the concerned employees immediately via mobile applications. Currently, mobile learning has been integrated by only a handful of players. However, it is projected to have a high potential on account of strengthening of the network capabilities and high bandwidth scaling. Social learning through platforms like blogs, wikis, discussion forums, subject-matter directories, and videos are on the rise in organizations on account of the high penetration of social networking sites in the country.
 Growing Importance of Training Assessment: Given amalgamation of several factors that contribute to company revenues; assessing the quantitative returns of training programs are important to find a legible solution. Companies looking for coding, analytics, and other technical training need to understand if the training results are in sync with their business goal. Tracking online training performance is much efficient and easier in comparison to classroom training. Corporate training companies such as Pluralsight have introduced training performance analytics solutions that enable employers to visualize employee performance to observe dynamics and patterns in the training development process.
 According to a report by Ken Research titled “USA Corporate Training Market Outlook to 2025- Driven by Growing Skill Gap due to Increasing Use of Technology and Introduction of Online Training Methodologies” the online training demand valued around USD 25 billion in 2019. The corporate training industry in the US is at its late growth stage and the demand will continue to grow to owe to the growing use of technology, increasing government efforts under Pledge to America’s Workers, changing workstyle and increasing skill gap due to the advent of AI, Blockchain, IoT, and other innovative technologies.
Key Segments Covered: -
By End-User Industry
BFSI
IT and Telecom
Healthcare
Automotive
Manufacturing
By Training Services
Technical
Leadership
Managerial
Sales
Customer Support
By Delivery Mode
Classroom Training
Blended Training
Virtual Training
Online Training (No Instructor)
By Organizational Size
Large Companies (+1000 Employees)
Medium Companies (500-1000 Employees)
Small Companies (0-500 Employees)
By Designation
Managerial
Non-Managerial
Integrated
By Deployment
On-Site
Off-Site
By Training Type
Customized
Open
Companies Covered:
GP Strategies
Franklin Covey
NIIT
Learning Tree International
Global Knowledge
Pluralsight
Centre for Creative Leadership
Skillsoft
Udemy
Udacity
Coursera
Simplilearn
Key Target Audience
Corporate Training Companies
Education Platforms
Corporate Training Aggregators
Corporate Organizations
Management Consultants
Corporate Trainers
MHRD
Education Associations
Time Period Captured in the Report: -
Historical Period: 2014–2019
Forecast Period: 2020-2025
Key Topics Covered in the Report: -
For More Information on the Research Report, refer to below links: -
USA Corporate Training Market
USA Corporate Training Industry
US Employee Training Industry
US Online Corporate Training Market
Employee Skilling Industry in the US
US Ed-Tech Market Growth
US Corporate E-Learning Industry
US Corporate Training End-User Industry
US Managerial Corporate Training Market
US Non-Managerial Corporate Training Market
US Integrated Corporate Training Market
USA Corporate Training Demand Analysis
Managed Employee Training Services US
Top Blended Service Providers in the USA
Related Reports by Ken Research: -
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Posted by at No comments:
Labels: , , ,
Location: United States

Wednesday, April 22, 2020

US Corporate Training Market Outlook to 2025: Ken Research

The report titled “US Corporate Training Market Outlook to 2025 – Driven by Growing Skill Gap with Disrupting Technology Stack and Penetration of Self-Paced, Live Instructor-Led Online Training Modes" provides a comprehensive analysis of the Corporate Training Market in the USA. The report also initiative by explaining the need and opportunity of the corporate training industry. Further, it proceeds with an explanation of current demand and demand by different segments. It also includes the trends, developments, challenges, technological stack, revenue streams, marketing strategies, and government regulations driving the industry. It gives a detailed explanation of competitive scenarios including cross-comparison between major players, Porter’s Five Force Analysis, and detailed company profiles of major players. It concludes with future scope and analyst recommendations.
Market Overview and Demand Scenario
Low employee retention, growing skill gap, low college enrollment, and the increasing cost of ineffective training were some of the important pain points of companies that lead to the introduction of the corporate training industry. The USA Corporate training industry is currently positioned to be at a late growth stage. The demand is increasing with a CAGR close to 5% during the period 2014-2019. There is an increasing trend in the use of Microlearning modules, experimental training, and the development of customized and specific training solutions.
usa-corporate-training-market
Demand by End-User Industry (BFSI, IT and Telecom, Healthcare, Automotive, Manufacturing, and others)
The growing importance of cyber-security with the increasing use of digital banking technologies including digital banking, Blockchain, and others, has led to increasing demand for training in the BFSI industry. Data Science & Analytics and Big Data Programs have revolutionized the IT and telecom Industry leading to quick outdating of skills among its employees. In the healthcare industry, the training demand is driven during the need for disease prevention training such as training to deal with highly infectious diseases such as Coronavirus, Ebola, SARS, etc. Introduction of electric & automated vehicles and development in 3D Printing technology is driving the demand in the automotive and manufacturing industries respectively.
Demand By Delivery Mode (Classroom Training, Blended Training, Virtual Training, Online Training (no instructor) and others)
The demand is still dominated by classroom training methodology due to inertia caused by traditional mind-set. Blended training is increasing gaining pace as it has found to provide marginally higher ROIs for global setups as compared to the only classroom or only online modules. Channing workstyle and increasing need for flexibility will eventually lead to the substitution of offline to online training.
By Type of Training Services (Technical, Leadership, Managerial, Sales, Customer Support and Others)
Technical training dominates the training demand due to the increasing use of technology and the growing digitalization of business operations. Dynamic business strategies, increasing organizational decentralization and growing millennial workforce drives the demand for leadership and managerial training.
By Deployment (On-Site and Off-Site)
Increasing demand for skill-based training for which resources are available within office premises to boost the demand for on-site training. Large and mid-size enterprises look for managed training services (multi-year contracts) which involves multiple training programs to be conducted within their offices.
Competitive Landscape
The industry is highly fragmented with the presence of various large public and private training companies as well as thousands of small training start-ups. Price, Course Content, Year of Experience, Faculty Qualification, Use of Experimental Training, and Clientele are few of the important competition parameters. The major players include GP Strategies, Franklin Covey, Global Knowledge, Learning Tree International, Pluralsight, NIIT, Centre for Creative Leadership, Skillsoft, Udemy, Udacity, Coursera, and Simplilearn.
Future Outlook and Projection
The demand is expected to grow with a CAGR of 6.9% during the period 2019-2025. The demand is expected to be driven by a growing interconnected society due to the advent of AI, Blockchain, IoT, 3D Printing, and others. E-learning is gradually taking over because of low priced modules and flexibility in learning. The shift to remote workstyle and growing government support will further boost the demand in the industry.
Key Segments Covered: -
By End-User Industry
BFSI
IT and Telecom
Healthcare
Automotive
Manufacturing
By Training Services
Technical
Leadership
Managerial
Sales
Customer Support
By Delivery Mode
Classroom Training
Blended Training
Virtual Training
Online Training (No Instructor)
By Organizational Size
Large Companies (+1000 Employees)
Medium Companies (500-1000 Employees)
Small Companies (0-500 Employees)
By Designation
Managerial
Non-Managerial
Integrated
By Deployment
On-Site
Off-Site
By Training Type
Customized
Open
Companies Covered:
GP Strategies
Franklin Covey
NIIT
Learning Tree International
Global Knowledge
Pluralsight
Centre for Creative Leadership
Skillsoft
Udemy
Udacity
Coursera
Simplilearn
Key Target Audience
Corporate Training Companies
Education Platforms
Corporate Training Aggregators
Corporate Organizations
Management Consultants
Corporate Trainers
MHRD
Education Associations
Time Period Captured in the Report: -
Historical Period: 2014–2019
Forecast Period: 2020-2025
Key Topics Covered in the Report: -
Current Pain Points of Companies Leading to Development of Corporate Training Industry
Target Addressable Audience
Supply Ecosystem and Competition Parameters
Demand Scenario
Technological Stack
Revenue Streams
Marketing Strategies
Challenges Faced by Corporate Training Companies
Porter Five Force Analysis
Emerging Business Strategies
Best Practises in Business
For More Information on the Research Report, refer to below links: -
Related Reports by Ken Research: -
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Posted by at No comments:
Labels: , , ,
Location: United States
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