The global corporate leadership training market size was valued at USD 32.96 billion in 2022 and is expected to be worth USD 35.52 billion in 2023. The market is projected to reach USD 63.19 billion by 2030, recording a CAGR of 8.58% during the forecast period.
Many companies are slowly recognizing the significance of having strong and effective leadership, and its impact on their financial health. The overall business landscape is continuously evolving due to different factors, compelling companies to invest in a talented workforce, which can help them create better leaders for the future. This scenario is expected to fuel the demand for effective leadership training programs, thereby augmenting the corporate leadership training market growth.
Fortune Business Insights™ displays this information in a report titled, “Corporate Leadership Training Market, 2023-2030.”
Information Source:
https://www.fortunebusinessinsights.com/corporate-leadership-training-market-108699
List of Key Players Profiled in the Corporate Leadership Training Market Report:
- Skillsoft Corp. (U.S.)
- Franklin Covey Co. (U.S.)
- Wilson Learning Worldwide Inc. (Japan)
- NIIT Ltd. (India)
- Computer Generated Solutions Inc. (U.S.)
- Global Training Solutions Inc. (Canada)
- Future London Academy Ltd. (U.K.)
- GBS Corporate Training Ltd. (U.K.)
- D2L Corp. (Canada)
- Articulate Global Inc. (U.S.)
Segments:
Implementation of Effective Corporate Leadership Programs to Rise in Large-Scale Enterprises Due to Complex Business Structure
Based on end-users, the market is segmented into large-scale enterprises and small and midsize enterprises. The large-scale enterprise segment accounted for a dominant corporate leadership training market share in 2022 as these companies have a complex business structure and hierarchy. This increases the need for efficient leaders at different levels.
Product Use to Rise in Instructor-Led Training Due to Its Multiple Benefits
Based on application, the market is segmented into online training, instructor-led training, and blended training. The Instructor-Led Training (ILT) segment captured a major market share in 2022 as this method of training offers several benefits, such as adaptability, real-time questions & feedback, and the use of interactive communication techniques.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
COVID-19 Impact:
COVID-19 Boosted Need for Effective Learning & Development Programs, Improved Market Progress
The COVID-19 pandemic created several challenges and introduced unexpected changes in the business environment, including the Learning & Development (L&D) space. Since a vast majority of employees were moved to a remote working business model, the demand for online training programs skyrocketed. Many corporate leadership training programs were also tweaked to suit the new normal created by the outbreak, which taught new ways of leadership to boost market growth.
Report Coverage:
The report analyzes the market in detail and highlights several major areas, such as leading end-users, applications, and top market players. It also offers valuable information about the latest market trends and key industry developments. Apart from the aforementioned factors, the report encompasses several other factors that have contributed to the market’s growth in recent years.
Drivers and Restraints:
Increasing Need for Upskilling Current Workforce to Drive Market Growth
Effective leadership is one of the cornerstones of any company’s success, which is why companies are increasing their investments in a wide range of leadership development and training programs. Doing so will equip aspiring leaders with the skills and capabilities required to efficiently manage a team and help it achieve an organization’s goals. Participating in these programs will help future leaders handle complex situations effectively, resolve conflicts, and positively impact the manner in which daily activities are conducted. These factors are expected to help the market grow.
However, viewing corporate leadership training programs as a waste of money and selecting the wrong people for the same can hamper market progress.
Regional Insights:
North America Dominates Market Due to Increased Spending On Leadership Training Programs
North America held a dominant share of the global market in 2022 as companies across the region are boosting their investments in innovative corporate leadership training programs. They are also increasing their learning & development budgets to train employees who have the potential to become future leaders.
Asia Pacific is also expected to record notable growth in the future due to the growing presence of multinational companies, which might increase the spending on skill development and leadership training programs.
Competitive Landscape:
Key Companies to Implement Various Strategies to Expand Market Presence
Some of the leading corporate training service providers are facing tough competition in the corporate leadership training market as a wide range of training options are available for organizations. Thus, market players are creating high-quality and long-term training packages to retain their existing customers and attract new ones. Such strategies will help them overcome stiff competition in the market.
Key Industry Developments:
- February 2022: Articulate Global, LLC, a prominent creator platform for online workplace learning, added a complete catalog of pre-made learning content to its creator tools. Through this addition, users were able to access 1,000+ expertly crafted lessons and pre-built courses that they can easily personalize with their proprietary content to allow faster learning.
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