The report titled “Corporate Training Market India Outlook to 2027 - Driven by Wide Acceptance of Online and Virtual Training and Organizations Need for Multi Skilled Tech Savvy Employees” provides a comprehensive analysis on the Corporate Training Market in India. The report covers various aspects including overview and market size, addressable target market, market segmentation, modes of learning, stakeholders, business models, profile of major players, competitive landscape, investment model, profile of self-baseds learning platforms, SWOT analysis and many other influential factors. The report concludes with strength and weakness of major players, cause and effect of multiple factors and analyst recommendations for the training houses in the industry.
Market Overview
The Corporate Training Market in India is in its growth stage and will continue to be so for the next 10-15 years. Considering the size and magnitude of growth factors such as a robust IT and service industry, large and young workforce and India’s fast GDP growth the corporate training market is very much underpenetrated in India. Its size is small when compared to the global corporate training market size therefore, indicating lots of untapped potential for growth. From FY’13-FY’19 market was growing quickly at healthy double digit CAGR however in FY’21 the overall market growth contracted due to the Covid-19 pandemic. In the review period 2017-2022P, the Corporate Training Market in India grew at a positive CAGR of 9.8%. Even though there was a negative contraction in FY’21, market was able to maintain a positive CAGR as IT and service companies quickly resumed operations by adopting hybrid and work from home model and training companies were able to deliver online through various modes of e-learning.
Market Segmentation
By Industry Verticals (IT/ITES, Telecom, BFSI, FMCG/Retail, Automobile, Manufacturing, and Healthcare):
With increasing accessibility to affordable education and internet people are becoming more aware and are migrating from secondary sector to esteemed IT and service sector of India. India being the IT hub and with continue migration of workforce IT/ITES sector is the backbone of Corporate Training Market in India. Telecom and BFSI are other two large industry verticals contributing towards the market growth. Swift transformation from 3G to 4G technology and intense R&D home grown 5G technology training demand is likely to be stable in the telecom space. Training requirements in BFSI sector are growing at a faster rate than telecom as design of banking products and schemes are more data driven due to evolution in FinTech space. Due to digitization and organization of the large unorganized retail sector and growth in the used car market and EV segment trainings would be in high demand.
Due to the covid-19 pandemic organizations have realized the importance of healthcare and this has also made people understand the notion ‘prevention is better than cure’ therefore, demand for training has spiked in this sector as well.
Request for sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTc0NDI2
By Types of Training Services (Technical, Leadership, Managerial, Sales, Customer Management):
Technical trainings are generally given to employees at the start of their professional journey in a company. Due to the pandemic, business operations were shifted to work from home model therefore many employees were on their own due to which they felt the need for technical skills. Leadership trainings comprises of enhancing the emotional strength besides strengthening cognitive abilities. They are generally reserved for the board level and CXO level employees and thus are expensive. Organisation focus on managerial trainings for managers and supervisors due to the benefits of “train the trainer” culture and sales trainings are generally meant for the executives to optimally handle the sales pressure.
By Sector (Service, Retail/Wholesale/, Manufacturing, Government, Education, Association and Non-Profit Organizations):
Majority of the training demand is dominated by the requirements from service industry. The covid-19 pandemic acted as a catalyst for the ongoing digital and offline to online transformation and this has brought phenomenal change in the training demand from the education sector. Corporate training demand from government and associations is expected to decline over time.
By Deployment (On Site and Off Site):
Off site has been a preferred mode especially in cases where in the client lacks the required training infrastructure and cost para meters. However, if the client’s is resourceful and has requirement has a lot of customisations aligned to their business goals, they might opt for an On-site training mode. Due to Covid-19 Pandemic most of the trainings was shifted to online platforms.
By Designation of Employee (Managerial, Non-Managerial and Integrated):
Freshers and young professionals who are just 1-3 years old in their career are given most of the non-managerial trainings. On the other hand, Managerial trainings are on the rise in India. Managers are required to avail trainings in new innovative business models & disruptive technologies for efficient deployment of resources.
By Major Cities: (Mumbai, Delhi, Bengaluru, Pune, Chennai, Kolkata):
Most of the major corporate training companies have their headquarters located in Mumbai, Delhi and Bengaluru. The top 4 cities contributes towards a large chunk of the corporate training demand however, other cities like Nagpur, Bhopal, Vishakhapatnam are catching up quickly as many IT corridors are being setup here.
By Open and Customized Training:
Majority of the training requirements are customized as more and more companies want training programs to be designed according to their business goals, aspiration and employee’s cognitive abilities. Open programs objectives are pre-defined and are generally the basic or introductory modules of the training subject.
By MNC’s and Domestic Organizations:
As MNC’s have a culture of mandatory training programs most of the corporate training requirement are generated by the MNC’s. Many domestic companies have started their operations across geographies and have ventured in various verticals and therefore even their training demands are rising.
By Mode of Learning (Instructor Led Classroom Only, Blended Learning, Virtual Classroom, Online or Computer Based Methods, Mobile and Social Learning):
Instructor led classroom learning is the traditional and most impactful way of imparting training and has always dominated the market. However, with increasing digitization and Covid-19 pandemic many modes of training have emerged. Blended learning, virtual classroom and computer-based modules have redefined training experiences especially during the pandemic and now have gained wide acceptance. Mobile learning is also on the rise as it ensures learning on the go.
By Scale of the Organization (Large, Medium and Small):
Large organizations are the largest revenue generator for the corporate training market in India. However, medium and small-scale companies have now realized the importance of training. They now view training as an investment which is imperative to attain business goals and not as an expense anymore. Such companies outsource most of their training requirements as well.
Competition Landscape:
The Corporate Training Market in India is a very competitive and a fragmented space with the presence of 500-600 companies. However, a good chunk of the market share is captured by 7 companies namely NIIT, Manipal Global Education, CADD Centre, Aptech Limited, Centum Learning, Koenig Solutions and Hughes Global. Price, post training support, brand value, clientele, trainer’s qualification, customizations and value-added services like assessment, performance and ROI evaluation are the competitive parameters in the industry. In order to have an edge over the competition many companies offer other services as well like staffing, HR management, IT support, coaching, audit etc. Lately, many self-based learning platforms like Udemy, Coursera, Simplilearn, upGrad have also become popular offering courses and modules keep working professionals need in mind.
Future Outlook and Projection
The Corporate Training Market in India is expected to grow with a healthy CAGR of 16.3% in FY’22P and FY’27F. The focus would be on to keep the learners and engaged by enhancing experiential learning therefore use of technologies like AR/VR, Metaverse and Micro learning concept would be prevalent in future. Courses on data and business analytics, AI-ML, cyber security, cloud infrastructure would be in high demand. IT and BFSI are going to be the larger support pillars for the corporate training market.
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
- 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
Related Reports
Follow Us
LinkedIn | Facebook | Twitter | YouTube
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249
No comments:
Post a Comment