The train-the-trainer market is expected to grow by USD 1.15 billion during 2020-2024, expanding at a CAGR of over 12%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Train-The-Trainer Market 2020-2024 (Graphic: Business Wire)
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Train-The-Trainer Market: Rising need for effective ways of training to drive growth
The growing competition in the market is compelling organizations to explore every possible way to gain an edge over their rivals. This has increased the adoption of the latest technologies to improve overall operational efficiency. However, the lack of skilled employees has been a challenge in implementing such technologies. Hence, many organizations have adopted the Train-the-trainer approach, wherein they procure training services to train in-house instructors. The approach does not require a high initial investment and the training costs depend on the number of attendees participating in the training sessions. These benefits coupled with the rising need for training employees are fueling the growth of the global train-the-trainer market.
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As per Technavio, the increase in online training methods will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Train-The-Trainer Market: Increase in Online Training Methods
Traditional training methods that run in a brick-and-mortar setup require significant initial investments. It includes travel expenses, employee and trainer charges, and facility charges. Also, the costs associated with printing instructions and assessment papers are generally high. Hence, organizations are adopting online technologies such as web conferencing, LMS, and virtual classrooms to facilitate employee training. This helps companies save time and costs as most of the learning content is made available on an online platform. Moreover, it is a convenient way of maintaining, updating, and storing information. All these factors are expected to positively influence the growth of the global train-the-trainer market during the forecast period.
"The increasing adoption of digital badges and growing workforce diversity will further boost market growth during the forecast period", says a senior analyst at Technavio.
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Train-The-Trainer Market: Segmentation Analysis
This market research report segments the train-the-trainer market by delivery method (Blended learning and Online learning) and Geography (North America, Europe, APAC, South America, and MEA).
The North America region led the train-the-trainer market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, North America is expected to register the highest incremental growth due to the increasing investments in training programs and employee development by organizations in the region.
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Some of the key topics covered in the report include:
Market positioning of vendors
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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