Employee Training Services 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.
Order your copy of the Employee Training Services category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Companies are continuously focusing on partnering or developing their own technology. 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.
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.
- Content development, instructor/facilitator fees, technology and infrastructure costs, venue and equipment expenses, travel and accommodation costs, and administrative costs form 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.
List of Key Suppliers
- Skillsoft
- LinkedIn Learning
- Pluralsight
- Cornerstone On Demand
- Udemy for Business
- OpenSesame
- GP Strategies
- D2L Brightspace
- SAP Litmos
- Coursera for Business
- EdCast
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Employee Training Services Procurement Intelligence Report Scope
- Employee Training Services Category Growth Rate : CAGR of 8% from 2023 to 2030
- Pricing Growth Outlook : 3% - 4% (Annually)
- Pricing Models : Cost plus pricing, subscription-based pricing
- Supplier Selection Scope : Cost and pricing, past engagements, productivity, geographical presence
- Supplier Selection Criteria : Technical expertise, experience, cost and quality of service, capabilities and reliability, customer service
- Report Coverage : Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
