Learning & Development Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices

The Global Learning & Development market reached a value of about USD 400 billion in 2021. The industry is projected to grow at a CAGR of around 2% in the forecast period of 2022-2027 to reach a value of about USD 451 billion by 2027.

The Global Learning & Development industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is driven by the growing desire to expand enterprises' geographical presence. North America is the highest category spender by region, driving the demand for the Learning & Development industry.

Industry Definition and Segmentation

Corporate training or workplace learning is a set of learning activities meant to help employees improve their job performance. Employees are educated through professional development activities known as corporate training. Employee productivity, motivation, performance, and retention are all enhanced through corporate training, which helps businesses accomplish their objectives. Certification of professional abilities, skill-building services, and standardised quality content production and delivery are all part of corporate training. The Learning & Development industry report comprises segments by region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).

North American Region is Driving the Growth of the Industry

North America holds a significant share in the industry due to factors such as many multinational corporations (MNCs) and large organisations in the region, the increasing focus of organisations on expanding their geographical presence, and the region's high employment rate. Also, several businesses and the region's burgeoning start-up culture paired with the most cutting-edge technological advancements in e-learning services and resources are propelling the industry forward.

The industry is being driven by the desire of many organisations to expand their geographical presence. Furthermore, the high employment rate is further driving the market's growth. With the growing focus on enhancing business by providing all employees with equal learning opportunities in customised training with a flexible learning curriculum, the market is expanding. In addition, structured learning and exercise will keep staff motivated, assist in upskilling and reskilling, and enable them to take on more specialised jobs boosting the market potential. Also, the rise in eLearning is fueled by the desire for continual, life-long learning, thus resulting in the market's development. Other factors like the increased penetration of digital platforms, which is supported by increasing internet penetration, rising adoption of smart devices, developing information technology and telecommunications platforms, and the rapid emergence of virtual corporate training platforms, are furthering the market.

Best Procurement Practices

The Global Learning & Development industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by central global Learning & Development regions, such as engagement models, contract terms, and buyer and supplier negotiation levers.

Category Management Studies

Employee productivity, motivation, performance, and retention are all improved through corporate training, which helps businesses accomplish their objectives. The virtual training technique and the face-to-face training method are the two sorts of training methods. The training is essential for any company to work efficiently. It has benefits like increased productivity and work performance, growth of skills, development of a team, and reducing the number of incidents caused by a lack of safety.

The Integration of Technology in the Training, Further Propelling the Learning & Development Market

Cutting-edge technical advancements are aiding the industry in e-learning services and resources. Furthermore, cost-effective e-learning training modules are likely to drive the corporate training market's development in terms of value sales throughout the forecast period. In addition, the employment of videos in the learning process, both uploaded and streamed, has become more common as high-speed internet networks have improved. As a result, Video-based learning is gaining traction. The integration of Artificial intelligence (AI) in learning management systems (LMS) for corporate training can assist the software in predicting the learner's behaviour, allowing it to produce individualised learning patterns driving the demand. Machine learning (ML)-driven solutions are becoming more common as on-demand learning gains pace since they help rationalise training costs, propelling the market.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Learning & Development Industry Report

• GP Strategies
• Hemsley Fraser
• Skillsoft
• Infosys
• Informa Training

Market Landscape

The major global corporate training market players concentrate on key tactics to overcome competition and maintain and grow their market share. Companies focus on diversifying their course offerings to include courses appropriate for students from other sectors. Players in the Market use various methods, including product launches, acquisitions, and R&D.

Key Initiatives by Companies

• RCP Equity provided Curricula with a USD 3 million expansion investment for their fun, story-based security awareness training platform.
• Madgex, a provider of job board software and career centre services, was bought by Wiley, a research and education company.