November 10, 2022
Corporate Leadership Training To See $18.59 Bn Growth by 2026 on the Back of Investment Says Technavio
T Technavio released its Corporate Leadership Training Market report, forecasting growth of USD 18.59 billion at a CAGR of 9.51% for the corporate training industry. According to the report, the benefits of online learning will fuel the rise of the corporate training world, with several firms, such Dale Carnegie and Associates and Franklin Covey, already employing online training methods, and more on the way.
Geographic domination is also a noteworthy finding in the survey; the report discovered that North America is the fastest growing region, accounting for 41% of market growth. The key markets for corporate leadership training in North America are the United States and Canada, and the market in this region will develop faster than those in South America, Europe, the Middle East, and Africa, according to the report.
The huge increase in MNC spending on leadership training programmes will boost the growth of the North American corporate leadership training market over the projected period, predicts the report.
...organisations must train their employees to assist the company in becoming more agile and adapting to the rapidly changing business environment…
In terms of growth boosters, one of the major drivers fuelling the global market for this service is an increase in corporate leadership training expenditure. Organisations invest more in leadership training every year because it is more cost-effective for a business to fill senior roles from within its hierarchy rather than hire an external resource.
Many companies have begun to engage in leadership development in order to develop their own staff as leaders. Organisations must train their employees to assist the company in becoming more agile and adapting to the rapidly changing business environment.
Although the global market for corporate leadership training has enormous growth potential, fierce competition among providers is one of the major impediments to its expansion. Vendors frequently develop new programmes and services in order to maintain a competitive edge in the market and render existing programmes and services obsolete.
Because the entry barriers to the industry are not particularly high, a significant number of small and regional businesses may enter the market. These small vendors, however, face the challenge of effectively implementing training programmes.
Posted in News and tagged News, Corporate Leadership Training, Technavio, Dale Carnegie, Franklin Covey, North America
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