Employees are given the corporate workforce development training who have re-joined a new office on the different or same or who have joined a new office as a fresher. Corporate workforce development training comprises training of non-technical and technical skills, based on the requirements of that office.
The key factor projected to drive the global corporate workforce development training market growth during the forecast period is the intensifying requirement to reinforce the staff training or induction program. In addition, the booming IT industry is projected to fuel the implementation of corporate workforce training within the IT industry in coming years. Technical workforce training comprises training for numerous IT languages like Python, Java, C, and C++. Companies give training to their staff based on their responsibility and roles. Additionally, rising requirement to track and assess employee performance and present recommendations to staff on practices and ethics is projected to surge the corporate workforce development training demand around the world further propelling market growth.
The global corporate workforce development training market can be categorized based on training type, mode of training, end-use industry, enterprise size, and region. By mode of training, the market is divided into instructor-led learning and online. The market, by enterprise size, is classified into large enterprises and SMEs. The market, by training type, is bifurcated into project management, technology training, sales training, quality management, digital skills training, soft skills, and others. The market, by end-use industry, is segmented into BFSI, aerospace, education, IT & telecom, manufacturing, healthcare, and others.
Regionally, North America dominated the global corporate workforce development training market owing to the growing requirement for the performance management and quality training. Workforce development training programs offer proper training by assisting the company in sharing the best practices and innovative & advanced new technologies with their staff. Further, Asia Pacific is also anticipated to witness at a swift growth rate during the forecast period on account of the flourishing IT sector in nations like China, India, and Japan.
Few of the prominent players active within the global corporate workforce development training market consist of Dale Carnegie & Associates, Inc., CARA Group, GP Strategies Corporation, Eton Institute, LearnQuest, Inc., Infopro Learning, Inc., Wilson Learning Worldwide Inc., Pearson, NIIT Limited, Skillsoft Corporation, and Raytheon Company, among others. To cite, in December 2020, the technology workforce development company, Pluralsight, Inc., declared of entering into a definitive deal to be procured by a prominent global investment firm devoted to enterprise software, data and technology-enabled businesses, Vista Equity Partners.