- India Corporate Training Market is expected to reach INR 32 billion by FY’2020
- Growth of the organized segment across different sectors and business streamlining initiatives in MSMEs will require heavy deployment of training programs that will help in widening of the corporate training market in India.
- Relatively lower initial investments, low cost of operation and substantial demand for disruptive and innovative training modules in the market will encourage higher investments into the corporate training market, thereby enlarging the market size over the years.
Ken Research announced its latest publication on “India Corporate Training Market Forecasts to 2020 – Incremental Allocation of Training Budgets in MSMEs and PPP in Skill Development Initiatives to Propel Growth” which provides a comprehensive analysis of the corporate training market in India. The report covers various aspects such as overall size of India corporate training market, segmentation on the basis of demand from major sectors, training services, industry, mode of learning, training demand from level of employees, major cities, demand for open and customized learning, different learning tools, learning modes, demand from small medium and large organizations, and demand from MNCs and domestic organizations. This report also offers prevalent trends and developments in industry, Porter’s analysis and challenges in the industry.
The competitive landscape, which has the information related to the players operating in this industry has been comprehensively presented. Moreover, the report offers information regarding the business models operating in the market along with the major macroeconomic indicators affecting the market. The report is useful for existing corporate training companies and other talent and development agencies, freelancers, consultants, emerging players who wish to capitalize the market potential and investors who are looking forward to venture into the corporate training market in India.
The corporate training market in India has witnessed commendable growth over the period FY’2010-FY’2015. The market has witnessed a double digit CAGR during the period FY’2010-FY’2015 in terms of revenue. The growth of this sector has been majorly driven by governmental thrust towards skill development initiatives and growing awareness among MSMEs towards business enabling training modules.
The largest revenue generating segment of the market has been technical trainings across IT companies especially for newly hired executives. Training demands at the managerial level has also seen a significant spur. Trainings for supervisors and managers in PSUs have observed a decent boost in the last few years. The growing tendency to imbibe the corporate culture in government organizations has stimulated the training culture in public offices.
According to the research report, the India corporate training market will record revenue of INR 32 billion by FY’2020 due to more players entering the market and rising adoption of training and development programs in India Inc.
“Continuous employee learning has emerged as a strategic necessity across all kinds of business. Major enterprises are conducting large number of short term courses and qualification-based learning for their employees. The rapid development of the e-learning space and considerable support coming from the Government side has widened the market opportunity”, according to the Research Analyst, Ken Research.