Corporate Leadership Training Market Share, Size, Industry Growth, and Regional
Forecast 2032The global corporate leadership training market was valued at USD 33.90 billion in 2023 and is anticipated to reach USD 36.60 billion in 2024. By 2032, the market is projected to grow significantly, reaching USD 72.65 billion, with a compound annual growth rate (CAGR) of 8.95% throughout the forecast period.
Corporate leadership training programs are becoming increasingly important to companies as they recognize the significant impact these trainings can have on their financial performance. Effective leaders play a crucial role in driving organizational success by devising innovative strategies to expand business operations. Additionally, participation in these programs equips future leaders with the skills to manage conflicts, adapt to unforeseen changes, and enhance employee engagement. These factors are expected to drive growth in the corporate leadership training market.
Fortune Business Insights™ displays this information in a report titled, "Corporate Leadership Training Market, 2024-2032."
Information Source: https://www.fortunebusinessinsights.com/corporate-leadership-training-market-108699
Segmentation:
Complex Business Structures Drive Product Adoption in Large-Scale Enterprises
The market is segmented by end-users into large-scale enterprises and small to midsize enterprises. In 2022, the large-scale enterprise segment dominated the corporate leadership training market, driven by the complex hierarchies and business structures within these organizations. This complexity has heightened the demand for effective leadership at various organizational levels.
Instructor-Led Training (ILT) Gains Traction Due to Multiple Benefits
The market is also segmented by application into online training, instructor-led training (ILT), and blended training. In 2022, the ILT segment captured a significant market share, owing to its numerous advantages, including real-time interaction, immediate feedback, and the use of interactive communication techniques, which enhance the adaptability of the training.
Regionally, the market encompasses North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Top Companies in the Corporate Leadership Training Market
- 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.)
Report Coverage:
The report has carried out a detailed analysis of the market and focused on many crucial aspects, such as leading applications, end-users, and prominent market players. It also provides valuable insights on the key industry developments and recent market trends. Besides the aforementioned factors, the report covers several other factors that have fueled the market’s growth in recent years.
Drivers and Restraints:
Role of Leadership Training Programs in Company’s Success to Accelerate Market Growth
The popularity of diverse leadership teams is increasing across various organizations as concepts, such as diversity and inclusion are gaining significant momentum. Many leadership training programs are incorporating inclusion and diversity-related programs to enhance their business growth. The emphasis on ethical leadership is also increasing across companies as customers and employees hold organizations with responsible leadership in high regard. These factors are anticipated to boost the implementation of corporate leadership training programs.
However, negative perceptions regarding corporate leadership training programs being a waste of time and money, and selecting the wrong people for these training can hinder market progress.
Regional Insights:
Rising Expenditure On Innovative Leadership Training Programs to Increase Product Use in North America
North America dominated the global market in 2022 as more firms across the region are investing heavily in futuristic leadership training initiatives. They are also expanding their learning & development budgets to offer high-quality training to employees who showcase the ability to become future leaders.
Asia Pacific is also projected to display a strong growth rate during the forecast period as a rising number of multinational giants are setting up their base in this region. This factor is expected to boost the region’s spending on leadership training and skill development programs.
Competitive Landscape:
Key Companies to Increase Customer Base by Executing Various Strategies
Some of the key companies offering corporate training services are experiencing tough competition in the corporate leadership training market as companies now have a vast range of training options to choose from. Thus, many firms operating in this market are developing long-term and high-quality training packages to attract new customers while retaining their existing pool of clients. Such strategies are expected to help these companies increase their market presence.
Notable Industry Development:
May 2023: Franklin Covey Co., one of the largest and most trusted leadership companies, launched its newest course, “Inclusive Leadership: Practical Ways to Cultivate Inclusion & Build a Better Team™”. The course is designed to help leaders create a workplace environment where every team member feels valued and sees an opportunity to thrive.