Corporate Workforce Development Training: Introduction

  • Corporate workforce development training is an essential process for organizations seeking to cultivate a top-quality workforce. Corporate workforce development training is an interrelated set of solutions to meet employment necessities. Corporate workforce development training is also known as employee development training.
  • Corporate workforce development training provides fundamental understanding of the functioning aspects of the respective organization to the employees.
  • Three learning methods are utilized by corporates to provide training to their workforce: online learning, offline learning/ instructor-led learning, and blended learning.
  • The global corporate workforce development training market is projected to expand at a rapid pace during the forecast period, due to increase in demand for corporate workforce development training from enterprises.
corporate workforce development training market

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Global Corporate Workforce Development Training Market: Dynamics

Global Corporate Workforce Development Training Market: Key Drivers and Restraints

  • Rising need to strengthen the employee induction or training program is expected to boost the corporate workforce development training market during the forecast period.
  • Increasing demand to enhance the overall knowledge of employees and increase the understanding levels of employees regarding the respective organization’s functioning aspects is a major factor projected to boost the corporate workforce development training market in the next few years.
  • Growing need to evaluate and track employee performance and offer guidelines to employees on ethics and practices is expected to boost the demand for corporate workforce development training across the globe.
  • Increasing need to provide training to manage critical situations at workplaces and understanding of real-time scenarios of the workforce is anticipated to boost the demand for corporate workforce development training during the forecast period
  • Rising IT sectors and corporate workforce in emerging countries is expected to boost the demand for corporate workforce development training across the globe.
  • However, high cost of corporate workforce development training is expected to hamper the market during the forecast period.
corporate workforce development training market 1

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Impact of COVID-19 on the Global Corporate Workforce Development Training Market

  • Increase in cases of COVID-19 across the globe is resulting in economic slowdown. Developed countries are strongly affected by this pandemic. Most of the organization and manufacturing or production of goods is temporarily suspended globally. Businesses have been adversely impacted in most countries due to partial or full lockdown. However, the expansion of the work from home concept has augmented the online corporate workforce development training market. This, in turn, is projected to partially impact the global corporate workforce development training market in the next few years.

North America to Hold Major Share of the Global Corporate Workforce Development Training Market

  • In terms of region, the global corporate workforce development training market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • North America dominated the global corporate workforce development training market in 2019, due to the presence of large number of corporates offices and extensive adoption of workforce training solutions in the region.
  • The corporate workforce development training market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to the growing IT sector in countries such as India, China, and Japan.
corporate workforce development training market 2

Global Corporate Workforce Development Training Market: Competition Landscape

Several local, regional, and international players are active in the corporate workforce development training market with a strong presence. Rapid technological advancements have led to opportunities in this market. Vendors of corporate workforce development training are focusing on an inorganic growth strategy such as strategic collaborations, and merger and acquisition activities with technology partners to develop innovative and advanced solutions to improve their offerings and market reach.

Key Players Operating in the Global Corporate Workforce Development Training Market Include:

  • AllenComm
  • CARA Group Inc.
  • CTU Training Solutions
  • Dale Carnegie Training
  • Eton Institute
  • Global knowledge
  • IIL India
  • GP Strategies
  • InfoPro Learning
  • LearnQuest
  • NIIT Limited
  • Pearson
  • Raytheon Company
  • Skillsoft
  • Simplilearn
  • Velociteach
  • Bizlibrary
  • Degreed
  • Litmus
  • Wilson Learning Worldwide Inc.

Global Corporate Workforce Development Training Market: Research Scope

Global Corporate Workforce Development Training Market, by Learning Method

  • Online Learning
  • Offline Learning/ Instructor-led Learning
  • Blended Learning

Global Corporate Workforce Development Training Market, by Skill Type

  • Hard Skills
  • Soft Skills

Global Corporate Workforce Development Training Market, by Industry

  • Automotive & Manufacturing
  • BFSI
  • Oil & Gas
  • IT & Telecom
  • Healthcare
  • Transportation & Logistics
  • Media & Entertainment
  • Others (Lifescience, Hospitality & Tourism, etc.)

Global Corporate Workforce Development Training Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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