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| Global Training Market Size |
Training plays a crucial role is skill upgradation and talent development. With
advancements in technologies like AI and Analytics, training programs and
methods are continuously evolving. Incorporation of these new technologies has
enabled trainers to deliver customized and engaging training experiences.
AI-powered platforms analyze learner behavior and feedback to personalize
content, recommend most relevant resources and track progress. Analytics help
organizations make data-driven decisions to enhance the impact of their
training initiatives. With AI and analytics enhancing the efficiency and
effectiveness of training, more organizations are leveraging these technologies
to reskill and upskill their workforce.
The global Training Market is estimated to be valued at US$ 132.22 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
Adoption of advanced technologies like AI, analytics, augmented reality and
virtual reality are transforming the training landscape. AI is playing a key
role in content curation and delivery of personalized training. By
understanding learner profiles, preferences and past behavior, AI recommends
most relevant content and facilitates continuous learning. Analytics helps
organizations track the effectiveness of training programs and ROI. It provides
actionable insights to enhance learning outcomes. Blended training approach
combining online self-paced modules with virtual and in-person sessions is
gaining popularity. This offers convenience of online learning along with
benefits of social interactions. Virtual and augmented reality are being
leveraged to deliver immersive training experiences, especially for skills like
product demonstrations, safety procedures etc. These emerging trends are
accelerating the growth of the global training market.
Segment Analysis
The global training market is segmented
on the basis of type and end-user. Based on type, the market is segmented into
technical training and non-technical training. The technical training segment
dominates the market as it covers wide-range of technical courses to enhance
the technical skills of employees. Based on end-user, the market is segmented
into corporate, government, and others. The corporate segment holds the largest
market share as most companies invest heavily in training and development
programs to improve the skills of their workforce.
Key Takeaways
Global
Training Market Size is expected to witness high growth over the
forecast period of 2023 to 2030. The market is estimated to reach a value of US$ 132.22 Bn by 2023, growing at a
CAGR of 13%.
Regional analysis: North America dominates the global training market
currently, owing to high expenditure on workforce development and presence of
leading training companies in the region. However, Asia Pacific is expected to
grow at the fastest pace during the forecast period with increasing focus of
companies in developing countries on training programs.
Key players: Key players operating in the training market are Anaqua Inc.,
Clarivate PLC, DoketTrak, WebTMS Limited, and TM Cloud Inc. Anaqua Inc. and
Clarivate PLC hold a significant share of the market due to their comprehensive
training solutions and global presence. DoketTrak is also a prominent player
known for its online training management software.
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