The traditional mindset has to lead to companies restricting employee training within the classroom set-up and has acted as inertia to online training for many years. However, growing need for flexibility, changing workstyle, use of experimental training, and the growing importance of training assessment is driving the demand for online training.
Changing Workstyle: Companies lose 25% of all new employees within the first year. In order to decrease attrition rates companies are resorting to providing workstyle flexibility to its employees. In response to this companies have developed the hub and spoke office structure. Also, in response to the global pandemic COVID-19, many companies in the USA are working from home. The growing remote workstyle has led to the increasing use of online training methodologies.
Shift towards Experimental Training: Experimental training refers to learning by doing. It includes different methods and technologies including stimulation, gaming, sensitivity training, case studies, and others. Experimental training increases focus and give better results which encourage other enterprises to undergo training. According to the survey conducted by eLearning Industry, 79% of employees believe that that they will be more productive and motivated if their learning environment was more like a game.
Introduction of Microlearning Modules: An average American worker works 47 hours a week. Microlearning modules that are bite-sized self-paced courses enable employees to complete the training process within a shorter time period. As a result of which employees do not have to give extra hours for training. It also ensures higher completion rates and better training results.
Advent of Mobile Learning and Social Learning: A growing number of teleworkers has to lead to the increasing use of innovative training delivery methods such as mobile and social learning. With the help of geo-fencing, information related to training can be passed on the concerned employees immediately via mobile applications. Currently, mobile learning has been integrated by only a handful of players. However, it is projected to have a high potential on account of strengthening of the network capabilities and high bandwidth scaling. Social learning through platforms like blogs, wikis, discussion forums, subject-matter directories and videos are on the rise in organizations on account of the high penetration of social networking sites in the country.
Growing Importance of Training Assessment: Given amalgamation of several factors which contribute to company revenues; assessing the quantitative returns of training programs are important to find a legible solution. Companies looking for coding, analytics and other technical training need to understand if the training results are in sync to their business goal. Tracking online training performance is much efficient and easier in comparison to classroom training. Corporate training companies such as Pluralsight have introduced training performance analytics solutions that enable employers to visualize employee performance to observe dynamics and patterns in the training development process.
According to a report by Ken Research titled “USA Corporate Training Market Outlook to 2025- Driven by Growing Skill Gap due to Increasing Use of Technology and Introduction of Online Training Methodologies” the online training demand valued around USD 25 billion in 2019. The corporate training industry in the US is at its late growth stage and the demand will continue to grow to owe to the growing use of technology, increasing government efforts under Pledge to America’s Workers, changing workstyle and increasing skill gap due to the advent of AI, Blockchain, IoT, and other innovative technologies.
Key Segments Covered: –
By End User Industry
BFSI
IT and Telecom
Healthcare
Automotive
Manufacturing
By Training Services
Technical
Leadership
Managerial
Sales
Customer Support
By Delivery Mode
Classroom Training
Blended Training
Virtual Training
Online Training (No Instructor)
By Organizational Size
Large Companies (+1000 Employees)
Medium Companies (500-1000 Employees)
Small Companies (0-500 Employees)
By Designation
Managerial
Non-Managerial
Integrated
By Deployment
On-Site
Off-Site
By Training Type
Customized
Open
Companies Covered:
GP Strategies
Franklin Covey
NIIT
Learning Tree International
Global Knowledge
Pluralsight
Centre for Creative Leadership
Skillsoft
Udemy
Udacity
Coursera
Simplilearn
Key Target Audience
Corporate Training Companies
Education Platforms
Corporate Training Aggregators
Corporate Organizations
Management Consultants
Corporate Trainers
MHRD
Education Associations
Time Period Captured in the Report: –
Historical Period: 2014–2019
Forecast Period: 2020-2025
Key Topics Covered in the Report: –
For More Information on the Research Report, refer to below links: –
USA Corporate Training Market
USA Corporate Training Industy
US Employee Training Industry
US Online Corporate Training Market
Employee Skilling Industry in US
US Ed-Tech Market Growth
US Corporate E-Learning Industry
US Corporate Training End- User Industry
US Managerial Corporate Training Market
US Non-Managerial Corporate Training Market
US Integrated Corporate Training Market
USA Corporate Training Demand Analysis
Managed Employee Training Services US
Top Blended Service Providers in USA
US Corporate Training Industry Growth
Related Reports by Ken Research: –
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
