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NEW YORK, July 6, 2022 /PRNewswire/ — One of the key factors driving the Global Corporate Leadership Training Market growth is the increased spending on corporate leadership training. Organizations are increasingly spending on leadership training year-over-year, as it is more cost-effective for a company to fill senior positions from within its hierarchy than hiring an external resource. Organizations have started to invest in leadership training for their own employees to groom them as leaders. To increase the agility of the company to cope with the rapidly changing business environment, organizations are required to train their employees. Companies with strategic leadership development programs can respond rapidly when faced with an unpredictable business environment. Sophisticated leadership training programs also help in the development of a rich pipeline of talent, which accounts for increased spending on corporate leadership training among organizations.
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The Corporate Leadership Training Market value is set to grow by USD 18.59 billionprogressing at a CAGR of 9.51% from 2021 to 2026, as per the latest report by Technavio.
Some of the Key Topics Covered in the Report Include
Key Market Trend
- Emergence of gamification in corporate training is one of the key corporate leadership training market trends that is expected to impact the industry positively in the forecast period. Many companies find it difficult to convince employees to attend training programs, including corporate leadership training programs. These challenges have paved the way for innovations such as gaming technology in the global corporate leadership training market. Gamification is an emerging trend and the results post-training are fruitful for an organization. The introduction of gamification in corporate leadership training encourages friendly competition and a spirit of achievement, enhances user engagement, and brings about considerable behavioral changes. Gamification increases the participation and engagement levels of employees. An increasing number of companies adopting corporate leadership training programs through gamification will further support the market growth in the coming years.
Major Market Challenge
- One of the key challenges to the global corporate leadership training market growth is the intense competition among vendors. The market witness’s intense competition, with relatively easy entry of new vendors. The vendors regularly introduce new programs and services to have a competitive edge in the market and render the existing programs and services obsolete. The entry barriers to the market are not very strict, therefore, there is a possibility for many small and regional players to enter the market. But these small vendors face the challenge of effective implementation of training programs. With e-learning being an emerging trend, infrastructure and technical expertise are mandatory for the effective implementation of online training programs. The intense competition may hamper the revenue and the market growth in the coming years.
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Corporate Leadership Training Market: Regional Analysis & Forecasts
The market is segmented by Geography (North America, EuropeAPAC, South Americaand Middle East and Africa). 41% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for corporate leadership training in North America. Market growth in this region will be faster than the growth of the market in South America, Europeand MEA. The significant increase in spending by MNCs on leadership training programs will facilitate the corporate leadership training market growth in North America over the forecast period.
Corporate Leadership Training Market: Segmentation Analysis & Forecasts
The market is segmented by Application (online training, ILT, and blended training). The corporate leadership training market share growth by the online training segment will be significant during the forecast period. The multiple benefits of online training will be fueling the growth of the global corporate leadership market in the forecast years. Some of them are as follows – Flexibility in training services, Low-cost training, and Training with increased access to experts
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Corporate Leadership Training Market: Vendor Landscape
- Allen Communication Learning Services
- Articulate Global Inc.
- Bauer Media Group Inc.
- BTS Group AB
- City and Guilds Group
- Computer Generated Solutions Inc.
- D2L Corp.
- Development Dimensions International Inc.
- Franklin Covey Co.
- Future London Accademy Ltd.
- GBS Corporate Training Ltd.
- Global Training Solutions Inc.
- Interaction Associates Inc.
- Korn Ferry
- Learning Technologies Group Plc
- MPS Ltd.
- New Horizons Computer Learning Centers Inc.
- NIIT Ltd.
- Skillsoft Ltd.
- Wilson Learning Worldwide Inc.
The corporate leadership training market is fragmented and the vendors are deploying growth strategies such as technological and product innovation to compete in the market.
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Related Reports
Corporate Training Market by Product and Geography – Forecast and Analysis 2020-2024: The corporate training market share is expected to increase by USD 40.21 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 7.97%. The emergence of cost-effective e-learning training modules is notably driving the market growth, although factors such as budgetary concerns may impede market growth. Find More Research Insights Here
Corporate Training Market in Latin America by Product and Application – Forecast and Analysis 2021-2025: The corporate training market size in Latin America has the potential to grow by USD 2.95 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 7.86%. The market share growth by the technical training segment will be significant during the forecast period. Find More Research Insights Here
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