Asia-Pacific Corporate Training Market Size, Share, Competitive Landscape and Trend Analysis Report, by Training Method, Training Programs and Industry : Regional Opportunity Analysis and Industry Forecast, 2021-2030

The Asia-Pacific corporate training market was valued at $83,898.64 million in 2019 and is projected to reach $137,615.13 million by 2030, registering a CAGR of 9.12% from 2021 to 2030.

Corporate training is a way to help employees develop their skill sets, including their ability to perform well at work and be more productive and efficient. For the advancement of corporate employees, a variety of training options are provided, including online and in-person courses. It aids workers in developing their skill sets, including communication, negotiation, leadership, technical, and other skills. Among the top trends in the corporate training industry are the use of wearable technology, micro-learning, and gamification.

Due to an increase in the demand for learning at work, the growth of the Asia-Pacific corporate training market is anticipated to accelerate during the forecast period. Furthermore, the development of affordable e-learning training modules is anticipated to accelerate the corporate training market's growth in the Asia-Pacific region in terms of value sales during the forecast period.

The COVID-19 pandemic has had an impact on every industry and its subsectors. Due to the crisis, the economic environment has undergone significant change, and new trends and requirements have also been seen. The corporate training market in Asia-Pacific has suffered because of the coronavirus outbreak.

The Asia-Pacific corporate training market is analyzed based on training method, training program, industry, and region. By training method, the market is divided into virtual and face-to-face. By training program, the market is divided into technical training, soft skills, quality training, compliance, and other training programs. By industry, it is classified into FMCG/retail, pharmaceutical & healthcare, financial services, professional services, public enterprises, information technology, and other industries. Country wise, the market is analyzed across Japan, China, India, South Korea, Australia & New Zealand, ASEAN, and the rest of Asia-Pacific.

The virtual segment, as per the training method, had a significant market share in the Asia-Pacific corporate training market in 2021. This is due to the advantages of the virtual training method, which include lowering the training cost by reducing the trainees' travel and lodging costs, offering flexibility for the training schedule, improving trainee motivation, and others.

The soft skill segment is expected to witness significant growth during the forecast period. This is due to the fact that companies favor employees with soft skills since they can be applied to any position and foster the development of productive, positive, and healthy work environments—qualities that are crucial for organizations. Due to this, it is becoming more and more popular with companies, which is helping the Asia-Pacific corporate training market expand.

The FMCG/retail segment exhibits the fastest growth in the Asia-Pacific corporate training market. This is a result of increased corporate spending on employee development and training in the retail industry, which aims to increase customer satisfaction and boost sales.

Country wise, Japan dominated the market with a significant share during the forecast period. The aging population and the need to retain knowledge and expertise within the workforce, as well as the government's focus on promoting continuous learning and development, are some of the factors driving the market. Another important factor is the need for upskilling and reskilling of the workforce to keep pace with technological advancements and changing business environments.
 

The growth of the Asia-Pacific corporate training market is boosted by an increase in the region's workplace learning requirements and an increase in the concept of microlearning. The market is also being fueled by the expanding use of gamification in employee training. The corporate sectors' concerns about their budgets, however, are predicted to impede market expansion. However, the advent of inexpensive e-learning training modules as well as the internet of things (IoT) and wearable technology are predicted to present significant chances for the market to grow in terms of value sales over the forecast period.

In the corporate training market, micro-learning, sometimes referred to as nano degrees or bite-sized learning, is one of the most popular trends. It aids in addressing learner needs as well as training difficulties that emerged as a result of the student's short attention span. According to the needs of the learner, micro-learning provides standalone modules or learning information broken into manageable portions. Microlearning reduces the cognitive burden and improves trainees' retention capacity because it is fast, short, and bite-sized. The advantages that micro-learning provides have made it popular in the corporate world. As a result, modern corporate training service providers are choosing microlearning over classic training concepts in growing numbers. As a result, micro-learning is driving the growth of the Asia-Pacific corporate training market during the forecast period. 

Effective training takes time and effort to develop. Corporate sectors need funding for training much like other programs. These kinds of projects often involve skilled professionals, such as instructional designers and multimedia developers. Yet, one organizational barrier to training and growth is the cost of specialized resources. In addition, most small businesses cannot afford to set aside as much money for training as large organizations do for wearable technology and other advanced technologies. So, it is anticipated that throughout the forecast period, this fact will impede the growth of the corporate training market in the Asia-Pacific region in terms of value sales.

One of the key drivers of growth for the corporate training market in the Asia-Pacific region has been the development of affordable e-learning training modules. Organizations are increasingly using innovative and economical methods of employee training in order to impart relevant and personalized corporate training solutions. The use of e-learning decreases the amount of time that employees are required to work and improves the ease of maintaining, updating, and efficiently storing information. The adoption of e-learning also lowers the cost of training and encourages companies with limited resources to implement alternative e-learning solutions. Corporate e-learning enables companies to reduce expenditures for onboarding, classroom training, travel expenses, specific equipment purchases, and learning resources for each training course module. Thus, the concept of e-learning is expected to offer great opportunities for corporate industries in terms of value sales during the forecast period. 

In recent years, wearable technology, and the Internet of Things (IoT) has become increasingly popular in the corporate training sector. The rapid adoption of digital tools for e-learning deployment is too responsible for this. When it comes to recording trainee attendance or keeping tabs on their performance in a room with internet access, wearable gadgets or applications are proving to be the most convenient and time-saving options. Corporate trainers are also becoming more and more fascinated with the use of smartwatches like the Apple Watch and smart glasses like Google Glass to create immersive and interactive learning experiences. Smartwatches and other wearable technologies for corporate training make it possible for learners and employees to perform better by providing them with prompt notifications on tasks that are being completed incorrectly. Thus, the emergence of IoT and wearable devices is expected to drive the growth of the Asia-Pacific corporate training market during the forecast period.

The introduction of various games into corporate training is referred to as gamification. These games are used in corporate training for a variety of reasons, including promoting teamwork, making learning enjoyable and simple, and making courses or concepts simple to understand. Employee motivation is increased through better learning through gamification due to the fun factor in training as well as the rewards and recognition given during gamification. Furthermore, it enhances teamwork and collaboration and raises the possibility of long-term staff retention. Gamification has been shown to boost the chance that learning will be used in the workplace and to deliver greater job completion rates. Today, practically every department and a wide range of companies are using the gamification concept. These days, employees are frequently trained using this method in compliance with workplace etiquette, product knowledge, professional skills, induction, soft skills, job simulation, quality assurance, sales, and other areas. As a result, the corporate training market in the Asia-Pacific region is expanding due to the increasing use of gamification for corporate training.

The major players analyzed for the Asia-Pacific corporate training industry are BTS Group AB, Communispond, Inc., Dale Carnegie & Associates, Inc., Edcast Inc., Franklin Covey Co., Kineo, Learning Technologies Group plc, Litmos US, L.P., NIIT Limited, The Ken Blanchard Companies. Key players operating in the Asia-Pacific corporate training market have adopted product launch and business expansion as key strategies to expand their Asia-Pacific corporate training market share, increase profitability, and remain competitive in the market.

KEY BENEFITS FOR STAKEHOLDERS

• This report provides a quantitative analysis of the current Asia-Pacific corporate training market trends, estimations, and dynamics from 2022 to 2031 to assist to identify the prevailing market opportunities.
• Major countries in each region are mapped according to the individual market revenue.
• The region-wise and country-wise market conditions are comprehensively analyzed.
• This study evaluates the competitive landscape and the value chain analysis to understand the competitive environment across geographies.
• An in-depth analysis of each segment of the market is provided to assist the prevailing market opportunities.

  Asia-Pacific Corporate Training Market Report Highlights

Aspects	Details
By Training Method	Virtual Face-to-Face
By Training Program	Technical training Soft skills training Quality training Compliance training Other Training Programs
By Industry	FMCG/Retail Pharmaceutical and Healthcare Financial Services Professional Services Public Enterprises Information Technology Other Industries
By Country	Japan China India South Korea Australia & New Zealand ASEAN Rest of Asia-Pacific

Analyst Review

The perspectives of the leading CXOs in the Asia-Pacific corporate training market are presented in this section. In the Asia-Pacific region, there is a growing tendency toward the use of digital learning technology in corporate training programs. These tools, which are increasingly being utilized to make training more interesting, interactive, and efficient, include gamification, simulations, and mobile learning. The emphasis on employee upskilling and reskilling is being driven by the charging rate of technology change and the rise of new sectors and employment categories. Companies are making investments in training programs to aid employees in acquiring new abilities and information relevant to their current or future employment.

The CXOs further added that in the Asia-Pacific region, there is an increasing focus on leadership development as companies try to raise the next generation of leaders. This covers both technical abilities necessary for leadership roles and soft skill development programs that concentrate on communication, problem-solving, and decision-making. The Asia-Pacific region is seeing an increase in demand for microlearning, which entails presenting training content in brief, bite-sized modules. This method is efficient for delivering training content since it enables employees to learn at their own pace and in a way that is convenient for them. In the Asia-Pacific region, blended learning, which incorporates online and offline training, is gaining popularity. This strategy enables organizations to provide training in a way that is both affordable and effective in raising productivity levels.

 

Author Name(s) : Jaya Bundele | Roshan Deshmukh

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