Updated: Mar 25
The global corporate training industry is large and is expected to continue to grow in the coming years. According to a report by Research and Markets, the market was valued at $366.4 billion in 2020 and is projected to reach $469.5 billion by 2025, at a compound annual growth rate (CAGR) of 5.1% during the forecast period.
The growth of the corporate training industry is driven by various factors, such as the need for upskilling and reskilling the workforce, the increasing adoption of eLearning and virtual training solutions, and the growing demand for personalized and on-demand training.
The corporate training industry includes various types of training programs, such as leadership training, customer service training, compliance training, and technical skills training. The industry serves a wide range of sectors, including healthcare, IT and telecom, banking and finance, and manufacturing.
Overall, the global corporate training industry is expected to continue to expand in the coming years, as companies recognize the importance of investing in employee development to remain competitive in a rapidly evolving business environment.
An Increasing Demand for eLearning
The demand for eLearning-based corporate training has been growing rapidly in recent years, and it's expected to continue in the coming years. Here are some reasons why:
eLearning-based corporate training offers flexibility to employees, allowing them to learn at their own pace and on their own schedule. This flexibility is particularly important for employees who work remotely or have busy schedules.
eLearning-based corporate training is often more cost-effective than traditional classroom-based training. Companies can save money on travel, materials, and instructor fees, while employees can save time and money by not having to travel to training centers.
eLearning-based corporate training can be customized to meet the specific needs of individual employees and groups of employees. Employees can focus on the areas where they need the most development, which can lead to more effective learning outcomes.
The advancements in technology have made it easier to deliver high-quality eLearning-based corporate training. Interactive videos, simulations, and gamification can all be incorporated into eLearning-based training to create an engaging and effective learning experience.
eLearning-based corporate training can be easily scaled to accommodate the needs of a growing organization. Companies can quickly and easily train new employees or offer training to a large number of employees at once.
Seven Business Development Strategies for Corporate Training Providers
Here are some business development strategies that training providers can use to grow and succeed:
Identify Your Target Market: Identify the specific audience that your training services are meant for. Who are your ideal customers, what do they need, and what are their pain points? Once you have a clear understanding of your target market, you can tailor your training services to meet their needs.
Build a Strong Brand: A strong brand can set you apart from the competition and make your training services more appealing to potential customers. Develop a brand identity that reflects your unique value proposition and consistently communicate it across all channels.
Develop a Comprehensive Marketing Plan: A comprehensive marketing plan can help you reach your target market effectively. Use a mix of digital and traditional marketing tactics such as social media advertising, email marketing, content marketing, events, and partnerships to promote your training services.
Offer Innovative Training Programs: Offer training programs that are innovative and engaging to attract customers. Develop programs that leverage technology such as eLearning, gamification, and virtual reality to create a more immersive and effective learning experience.
Partner with Industry Leaders: Partnering with industry leaders can provide you with credibility and exposure. Seek out strategic partnerships with companies, trade associations, or educational institutions that can help you gain access to new markets and potential customers.
Provide Excellent Customer Service: Excellent customer service is crucial for retaining customers and generating positive word-of-mouth. Make sure your training staff is knowledgeable, friendly, and responsive to customer inquiries and concerns.
Monitor Industry Trends: Stay up-to-date with industry trends and changes. Attend industry conferences, read industry publications, and keep an eye on your competitors to ensure that your training services remain relevant and competitive.
About LMS Portals
At LMS Portals, we provide our clients and partners with a SaaS-based, multi-tenant learning management system that allows you to launch a dedicated training environment (a portal) for each of your unique audiences.
The system includes an embedded course authoring tool that enables most anyone to build engaging courses quickly and easily.
We offer a complete library of (brandable) ready-made corporate training courses. So you can build your own courses, utilize our off-the-shelf library, or some combination of the two.
If you choose to, you can create Learning Paths to deliver courses in a logical progression and add structure to your training program. The system also supports Virtual Instructor-Led Training (VILT) and provides tools for online coaching and social learning.
The combination of our platform features, content, and services make LMS Portals the ideal solution for our corporate training provider partners.