New report claims corporate training market to grow nearly 10% by 2020
- Research and Markets' "Corporate Training Market in the US 2016-2020" report reveals that the US corporate training market is expected to continue to grow at a combined annual growth rate of 9.54% during 2016-2020.
- Corporate micro-learning is the driving force between much of this growth because of its time and cost-saving benefits, combined with learners preferring to use mobile devices to access learning content and the inclusion of MOOCs and other on-demand learning material. The report also advises that social collaboration is a major component of corporate learning.
- The leading vendors for corporate learning, as evaluated by Research and Markets, are Articulate, GP Strategies, Miller Heiman and Skillsoft.
The Research and Markets report indicates that corporate training is still going strong in the U.S. The use of popular on-demand courses like those found on Coursera and Udemy is expected to continue, as companies develop internal learning content that embraces micro-learning. The move towards shorter video and interactive lessons is already underway.
Companies that can provide a positive learning experience for employees will get better results in terms of performance and retention rates, so it's worth the effort to pare down lessons and spend less time on long classroom trainings. Most companies have gone mobile for the most part by now, so learning content must be able to translate well across all devices.
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