A growing demand for increasing emphasis on employee development & retention, and the need for compliance training and certification drive the employee training services category’s growth

Employee Training Services Category - Procurement Intelligence

The employee training services category is expected to grow at a CAGR of 8% from 2023 to 2030. North America is the leading market for corporate training, accounting for 43% of the global market. This is due to the presence of large corporate MNCs and giant IT organizations in the region. These companies invest heavily in corporate training to improve the work-life balance and efficiency of their employees. Europe and Asia Pacific regions are expected to grow at the fastest CAGR in the coming years. This is due to the increasing startup culture and the setup of new companies in these regions. These new companies will require corporate training for their employees to ensure that they have the necessary knowledge and skills to succeed.

Established players are investing considerably in the development and bolstering of their training programs to secure increased employee retention and improve brand recognition. Collaboration with emerging startups enables established companies to make use of the advantages of their goods and increase the scope of their product offering. Due to the fast adoption of mobile devices and the rising levels of digital literacy among employees, market participants are using online or web-based training modules to keep learners interested in the learning process. The market is likely to see more opportunities as vendors increase their partnerships with cloud service providers. For instance,

• In March 2023 A learning and talent-development company, Hemsley Fraser, announced the acquisition of STS, a project management training company, and MindOnSite (MOS), a maker of online training systems. With the addition of new technologies like gamification, learning management systems (LMS), smart learning portals, and project management simulation tools, the acquisitions will improve Hemsley Fraser's product portfolio.

• In February 2023 GSoft, a Montreal-based software company, acquired Didacte, a learning management system (LMS) platform provider. GSoft offers employee experience solutions like ShareGate, Officevibe, and Softstart, while Didacte provides a web-based LMS platform for training courses.

The implementation of uploaded and streamed videos into the educational process is a result of the growth of high-speed internet networks. Through the use of videos, learning strategies are expanded. For instance, the usage of video has made tasks like taking notes, providing feedback, responding to inquiries, and tracking progress straightforward. With video-based learning, users have the choice to watch the video at any time and from any location while also being able to rewind, store, and view the content at their convenience. The rapid increase of wireless network connectivity is assisting in the development of e-learning software, which is anticipated to accelerate market growth throughout the forecast period.

Request a free sample copy or view report summary: Employee Training Services Procurement Intelligence Report

Employee Training Services Sourcing Intelligence Highlights

• The global employee training services category is fragmented, with the presence of several market players. Employee training service suppliers invest in AI and engage in strategic collaborations to stay competitive and meet evolving business needs. Artificial intelligence is being employed in corporate training programs. Service providers also deploy bots to guide learners through the curriculum.

• Trainers salary, training material cost, IT costs, and general and administration costs forms the most significant cost component in category implementation.

• The type of training, delivery format, number of participants, duration, the expertise of trainers, customization, technology requirements, location, materials and resources, evaluation, and feedback significantly influence the price.

Employee Training Services Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

• Market Intelligence along with emerging technology and regulatory landscape

• Market estimates and forecasts from 2022 to 2030

• Growth opportunities, trends, and driver analysis

• Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments

• Porter’s 5 forces

• Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis

• Engagement and operating models, KPI, and SLA elements

• LCC/BCC analysis and negotiation strategies

• Peer benchmarking and product analysis

• Market report in PDF, Excel, and PPT and online dashboard versions

Cost Intelligence Highlights

Grand View Research has identified the following key cost components for the Employee Training Services category:

• Trainers Salary

• Training Material Costs

• IT Costs

• General and Administrative Costs

• Others

Content development, Instructor/facilitator fees, and technology and infrastructure costs form the largest cost components of the Employee Training Services category.

List of Key Suppliers in the Employee Training Services Category

• Skillsoft

• LinkedIn Learning

• Pluralsight

• Cornerstone On Demand

• Udemy for Business

• OpenSesame

• GP Strategies

• D2L Brightspace

• SAP Litmos

• Coursera for Business

• EdCast