Focus on investment on digitalization, work from home trainings and technological developments are major factor contributing towards development of Corporate Training Market in China.
Induction of Technology in Corporate training: In order to secure effective training delivery, organisations will be forced to outsource the training process as it is so heavily dependent on technology. For the purpose of preparing managers, businesses can also use the services to train the trainers. Businesses are interested in exploring various digital learning approaches, including virtual learning, social learning, mobile learning, and micro-learning platforms.
Low running cost and better information on capital investment decision: To ensure workforce efficiency, an increasing number of organizations in China has modernized their training environment by incorporating e-learning tools. Learning management systems, which provide all of the requirements for successful training practice management, such as performance management, administration, and content management, as well as the delivery of distinct and customized courses for employees, complement these solutions. As a result, people's attention is shifting to online learning platforms, which is helping the LMS market grow.
Impact of Covid-19: The market for corporate training has been adversely affected by the COVID-19 pandemic. Around the world, the COVID-19 has resulted in the loss of 195 million jobs. Additionally, in terms of percentage, the pandemic's effects on employment have been worst in China. Due to budget restrictions in the business sector as a result of the global economic upheaval, R&D teams faced numerous difficulties in demonstrating the Return of investment of their training programs. Due to covid-19, the digitization and offline to online transformation has fast forwarded by 2-4 years. New ways of imparting training such as Blended Learning, Virtual Classroom and Online and computer-based methods have emerged.
Downsizing market: There are unprecedented economic challenges which have dampened the overall business environment. Companies are experiencing falling consumer demand and are losing 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.
Analysts at Ken Research in their latest publication “China Corporate Training Market Outlook to 2027F- Segmented by rising enterprises, technological developments and market investment” observed that Corporate Training Market in China is at growing stage. The AI based learning, cost-effective e-learning training, mobile-based training and the emergence of IoT along with government initiatives are expected to contribute to the market growth over the forecast period. The market is expected to grow at an ~% CAGR during 2023-2027F.
Key Segments Covered in the report:-
China Corporate Training Market
By Industry Verticals
IT/ITES
Telecom
BFSI
FMCG/Retail
Automobile
Manufacturing
Healthcare
By Types Of Training Services
Technical
Leadership
Managerial
Sales
Customer Management
Quality Training
Technical Training
Soft Skills
Brand Training
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By Deployment
On-Site
Off-Site
By Designation Of Employee
Managerial
Non-Managerial
Integrated
By Mode Of Learning
Instructor Led Classroom Only
Blended Learning
Virtual Classroom
Online or Computer Based Methods
Mobile and Social Learning
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: 2017-2021
Base Year: 2022
Forecast Period: 2023-2027F
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Companies Covered
Ultimahub
Tang Cultural Media
Jiangsu Vital Fintech Data Corp
Hefei KJLink Technology Company Limited
Zhejiang Unicall Information Technology Service Co., Ltd.
NobleProg
Jinan Tian Rui Foreign Enterprise Human Resources Service Co., Ltd.
Nanning Corporate Training Solutions
Key Topics Covered in the Report:
China Corporate Training Market Overview
Supply Scenario & Decision-Making Parameters
Business and Investment Models China Corporate Training Market
China Corporate Training Market Size
China Corporate Training Market Segmentation
SWOT Analysis and Issues of China Corporate Training Market
Porters Five Forces Analysis and Growth Driver in China Corporate Training Market
Competition Landscape in China Corporate Training Market
Analyst Recommendations
For more insights on the market intelligence, refer to below link:-
China Corporate Training Market
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