NEW YORK, Nov. 10, 2022 /PRNewswire/ — The “Corporate Training Market in Europe by Product (Technical course and Non-technical course) and Geography (Western EuropeNordic Countries, Southern Europeand Central and Eastern Europe) – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the corporate training market size in Europe between 2021 and 2026 is USD 11.79 billion. To get the exact yearly growth variance and the YOY growth rate, Request a FREE PDF Sample Report
By product, the technical course segment will be a significant contributor to market growth during the forecast period. Thus, there is a need to continuously stay updated on the latest technologies to have successful career prospects. Employees with advanced technical skills are more valuable to companies, as they can complete tasks efficiently. Technically sound employees have skills and knowledge that contribute to innovation in companies. Training on the basic aspects of technology, applications, service tactics, and sales is expected to fuel the demand for technical training in the corporate training market in Europe during the forecast period. The technical skills of employees directly impact their productivity.
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- Market Driver: The digitization of learning materials is driving market growth. Advances in technology have increased the adoption of cloud-based services such as corporate training and CMS. The shift to online platforms has helped employees in boosting their productivity, saving their time and money, and reskilling themselves. For instance, in October 2021City and Guilds and Intertrain announced the launch of the first small plant training program for the railway industry. The program reduces learning hours by about 30% and includes online and hands-on practical training. Thus, the digitization of learning materials will fuel market growth in the forecast period.
- Market Challenge: Technical constraints such as customization and integration are challenging market growth. Customization increases the operating cost of companies, especially small-scale companies. Companies face customization issues in terms of content creation, features, format, and delivery methods. Moreover, they need to integrate corporate training with existing business applications. The lack of integration and improper corporate training implementation lead to inefficiencies in the business processes. This, in turn, is expected to reduce the interest of users in newer online courses, which may impede the market during the forecast period.
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- Adobe Inc.
- Articulate Global Inc.
- Blanchard Training and Development Inc.
- BTS Group AB
- Cegos Group
- Cisco Systems Inc.
- City and Guilds Group
- D2L Corp.
- DEMOS Group
- Development Dimensions International Inc.
- Franklin Covey Co.
- John Wiley and Sons Inc.
- Korn Ferry
- Learning Technologies Group Plc
- Mind Gym Plc
- NIIT Ltd.
- Richardson Sales Performance
- Simplilearn Solutions Pvt. Ltd.
- Skillsoft Ltd.
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Corporate Training Market Scope in Europe