Corporate Training Market was valued at USD 327.2 billion in 2021 and is poised to grow at a significant CAGR of 6.9% over 2022–2028. The breakout of the COVID-19 pandemic in 2020 provided a boost to the global corporate training sector. Market dynamics transformed quickly, and the entire world went online. Virtual training received much attention. The major market players put much money into digitizing their firms. The corporate world began to utilize virtual platforms to train its employees, propelling the virtual corporate training segment to new heights. Increased internet penetration, rising adoption of smart devices, developing information technology and telecommunications platforms, and the rapid emergence of virtual corporate training platforms worldwide are some significant factors that have contributed to the growth of the corporate training market in recent years. The expanding trend of working from home, as well as a substantial move towards digital technology, is projected to help the market maintain its position in the near future and grow during the projection period. In addition, Artificial intelligence (AI) is making headway into business training. Bots are being used by service providers to help trainees through the program. Integrating artificial intelligence with a learning management system (LMS) for corporate training can help the software predict the learner’s behavior, allowing it to produce individualized learning patterns. Within the corporate training environment, voice-guided bots are used to ensure an engaging learning experience. These AI-based training systems are also benefiting from the transition to microlearning. A specialized pattern of learning is referred to as micro-learning. Learning is accomplished through quick modules that include quizzes, tiny games, and films. This trend has greatly increased people’s average retention capacity, resulting in increased demand.
Recent Market Developments:
In January 2020, Curricula closed a $3 million growth investment from RCP Equity for its “fun, story-based security awareness training platform.”