US corporate training market 2022-2026: A descriptive analysis of five forces model, market dynamics, and segmentation

NEW YORK, Jan. 23, 2023 /PRNewswire/ — According to Technavio, the US corporate training market size is estimated to grow by USD 1.21 billion from 2021 to 2026. The market is expected to grow at a CAGR of 6.49% during the forecast period. Moreover, the growth momentum will accelerate. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others. For more insights on market size, buy the report!

Corporate training market in US – Five forces
The corporate training market in US is fragmented, and the five forces analysis covers–

• Bargaining power of buyers

• The threat of new entrants

• Threat of rivalry

• Bargaining power of suppliers

• Threat of substitutes

• For interpretation of Porter’s five forces model – Request a sample report

Corporate training market in US – Customer landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Corporate training market in US – Segmentation assessment

Segment overview

• The technical courses segment will account for a significant share of the market during the forecast period. Technical courses are used for training employees on skills that are relevant to specific industries. These courses mainly include training related to plant or facility management, new recruitment fundamentals, product and software features, programming languages, sales, and process safety management, among others. Various vendors operating in the corporate training market in US are focusing on offering technical courses with respect to the job opportunities available in the country. Such initiatives by the vendors are expected to increase the enrollment of corporate trainees into corporate training programs during the forecast period.

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Corporate training market in US – Market dynamics
Key factor driving market growth

• The emergence of cost-effective e-learning and online training modules is driving the corporate training market in US.

• Organizations are adopting innovative and cost-effective ways to train their employees.

• Transition from conventional training methods to e-learning and online training helps organizations in saving working hours and offers a convenient and effective way of maintaining, updating, and storing information.

• Therefore, the emergence of cost-effective e-learning and online training modules is expected to fuel the growth of the corporate training market in US during the forecast period.

Leading trends influencing the market 

• The emergence of IoT and wearable devices is a key trend in the market.

• Many companies use e-learning, IoT, and wearable devices for training modules, especially in the technology and healthcare industries.

• Wearable devices or apps are convenient and save time. They also help in logging the attendance of trainees to monitor their performance.

• For instance, in the US, smart glasses and smartwatches are rapidly gaining popularity among corporate trainers to create an interactive and immersive learning experience.

• Therefore, the adoption of IoT-based devices for corporate training sessions in the US is expected to support the market growth during the forecast period.

Major challenges hindering market growth

• The growing prominence of MOOCs in corporate learning is challenging the market growth.

• MOOCs have become a viable alternative to corporate training in organizations in the US over the last few years.

• Several organizations are investing in the creation of personalized MOOCs. For instance, Microsoft Corp. offers MOOCs to train employees and job seekers through learning platforms such as edX and Coursera.

• Moreover, MOOCs provide flexible access to learning content and encourage real-time, on-the-job learning.

• These factors are expected to hamper the market growth during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this US corporate training market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the corporate training market in US between 2022 and 2026

• Precise estimation of the size of the corporate training market in US and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of US corporate training market vendors

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Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Market Segmentation by End-user

7 Market Segmentation by Method

8 Customer Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

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