The global corporate training market is poised for substantial growth, with projections indicating a Compound Annual Growth Rate (CAGR) of 8% from 2021 to 2030, culminating in an estimated value of $487.3 billion by the end of the forecast period.

This expansion is attributed to the increasing focus on enhancing workforce skill sets to improve productivity and efficiency across various industries.

The COVID-19 pandemic has reshaped the landscape of corporate training, leading to a significant contraction in the global market in 2020. However, the market is anticipated to rebound in 2021, with a projected growth of 22%. The pandemic has underscored the importance of adapting training methodologies to accommodate remote work and virtual learning, driving the adoption of innovative training methods such as gamification, micro-learning, and wearable devices.

Market Segmentation and Growth Drivers

The corporate training market is segmented based on training method, training program, industry, and region. Virtual training methods are expected to witness significant growth, offering cost-effective solutions and flexibility in training schedules. Soft skills training is gaining prominence among employers, fostering collaborative work environments and boosting productivity. Industries such as FMCG/retail and pharmaceuticals are leading the adoption of corporate training programs to enhance employee skills and improve customer satisfaction.

Leading players in the global corporate training industry include Bizlibrary, GP Strategies Corporation, Franklin Covey Co., and City & Guilds Group, among others. The face-to-face training segment holds the highest market share, while technical training programs are driving growth. North America currently dominates the market, with anticipated growth driven by increasing investments in training across various sectors.

As businesses navigate the evolving landscape of work and embrace digital transformation, corporate training remains a critical component for enhancing workforce capabilities and driving organisational success. With a focus on leveraging innovative training methods and addressing evolving industry needs, the corporate training market is poised for continued growth in the coming years.