Jun 27, 2023

News provided by Share this article Share this article NEW YORK, June 27, 2023 /PRNewswire/ -- The IT training market size is estimated to increase by USD 12,044.11 million from 2022 to 2027. The market is estimated to with a CAGR of 6.91%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report - Request a sample report Technavio has announced its latest market research report titled Global IT Training Market 2023-2027 Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability. Find Technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH. Furthermore, market adoption rates for all regions have been covered. The IT training market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below - ACI Learning, Amazon.com Inc., Apple Inc., CBT Nuggets LLC, Computer Generated Solutions Inc., Dell Technologies Inc., ExecuTrain, Fast Lane Consulting and Education Services, Firebrand Training Ltd., Global Knowledge Training LLC, Hewlett Packard Enterprise Co., ILX Group, Information System Audit and Control Association Inc., LearnQuest Inc., Learning Technologies Group Plc, New Horizons Computer Learning Centers Inc., Radical Technologies, Tech Data Corp., International Business Machines Corp., and Oracle Corp.  Download a Sample  Report! IT training market - Segmentation Assessment This report extensively covers market segmentation by service (infrastructure, development, database, security, and others), end-user (corporate, schools and colleges, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The market share growth of the infrastructure segment will be significant for market growth during the forecast period. This segment of the market comprises building, sustaining, and managing IT infrastructure and networking and cloud computing infrastructure. Operational efficiency, reduction in work duplication, adherence to standards, increasing adaptability, and interoperability between processes and systems are all driving the demand for training in IT infrastructure. Furthermore, due to the growing digitization and the need for storage solutions, networking, and cloud computing technologies have become the backbone of almost every enterprise. Hence, such factors boost the segment growth during the forecast period. IT training market - Market Dynamics Key Drivers The number of strategic partnerships among vendors in the market drives the market growth of IT training during the forecast period. Market vendors form strategic partnerships and acquisitions, such as software companies and job portal companies, to expand their customer base and geographical presence. For instance, In April 2021, IBM announced the acquisition of Turbonomic, an Application Resource Management (ARM) and Network Performance Management (NPM) software provider based in Boston, MA. Such an acquisition will drive the growth of the global information technology training market during the forecast period. Hence, such factors will drive the growth of the global information technology training market during the forecast period. Major Trends The growth in popularity of blended learning is an emerging trend in the IT training market. This mode of learning is a mix of traditional face-to-face learning methods with any computer or mobile-mediated learning method and includes a mix of two or more training delivery methods. Organizations can expect a cost-effective method of engaging and imparting training to employees with the help of the blended learning approach. Moreover, the growing incorporation of microlearning in blended learning is another factor driving the popularity of blended learning in the market. Hence, such trends boost the market growth during the forecast period. Significant Challenges The growth in the popularity of MOOCs challenges the growth of the IT training market during the forecast period. MOOCs are free online courses for IT, executive education, and employee development provided by well-qualified lecturers from renowned institutes worldwide. They are cost-effective and offer higher flexibility and ease of access as the user can enroll for these courses online. Organizations and individuals alike adopt MOOCs in the IT training industry but many of the courses offered by MOOCs do not offer certification, owing to which a higher adoption is witnessed among individuals compared with organizations. Hence, such challenges hinder the growth of the IT training market during the forecast period. IT training market - Geographic Analysis The market is segmented by region North America, Europe, APAC, South America, and Middle East and Africa. An analysis of key leading countries has been included. APAC is estimated to account for 35% of the growth of the global market during the forecast period. North America has always been at the forefront of the adoption of new technologies. The presence of major technology companies, such as Apple Inc. (Apple), Microsoft, Intel, Google, Oracle, IBM, and NVIDIA Corp. (NVIDIA) is a major factor in this growth. This is because they strive to stay ahead of the competition. Furthermore, the requirement for skilled professionals is high in the region. Also, in order to achieve operational efficiency, enterprises in the region spend heavily on training employees. Hence, such factors boost regional growth during the forecast period. For Insights on the market dynamics & segmentations VIEW PDF SAMPLE ! CAGR of the market during the forecast period Detailed information on factors that will drive the growth of the IT training market between 2023 and 2027 Precise estimation of the size of the IT training market and its contribution to the market with a focus on the parent market Accurate predictions about upcoming trends and changes in consumer behavior Growth of the IT training market across North America, Europe, APAC, South America, and Middle East and Africa A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth of IT training market vendors Gain instant access to 17,000+ market research reports. Related Reports: The business process outsourcing market is estimated to grow at a CAGR of 4% and the size of the market is forecast to increase by USD 40.16 billion between 2022 and 2027. Furthermore, this report extensively covers business process outsourcing market segmentation by end-user (IT and telecommunication, BFSI, retail, healthcare, and others) and geography (North America, Europe, APAC, MEA, and South America). One of the key factors driving growth in the business process outsourcing market is the focus on reducing operational costs. The general and administrative outsourcing market size is expected to increase by USD 9.73 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.39%. Furthermore, this report extensively covers the general and administrative outsourcing market segmentation by type (FAO, RPO, payroll outsourcing, and procurement outsourcing) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The emergence of data analytics and AI are one of the key factors driving the global general and administrative outsourcing (GAO) market growth. Data security risks are the major challenge to the general and administrative outsourcing market growth. IT Training Market Scope Key companies profiled ACI Learning, Amazon.com Inc., Apple Inc., CBT Nuggets LLC, Computer Generated Solutions Inc., Dell Technologies Inc., ExecuTrain, Fast Lane Consulting and Education Services, Firebrand Training Ltd., Global Knowledge Training LLC, Hewlett Packard Enterprise Co., ILX Group, Information System Audit and Control Association Inc., LearnQuest Inc., Learning Technologies Group Plc, New Horizons Computer Learning Centers Inc., Radical Technologies, Tech Data Corp., International Business Machines Corp., and Oracle Corp. Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. Table of Contents Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million) Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million) Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%) Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%) 4 Historic Market Size Exhibit 18: Historic Market Size – Data Table on Global IT training market 2017 - 2021 ($ million) 4.2 Service Segment Analysis 2017 - 2021 Exhibit 19: Historic Market Size – Service Segment 2017 - 2021 ($ million) 4.3 End User Segment Analysis 2017 - 2021 Exhibit 20: Historic Market Size – End User Segment 2017 - 2021 ($ million) 4.4 Geography Segment Analysis 2017 - 2021 Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million) 4.5 Country Segment Analysis 2017 - 2021 Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million) 5 Five Forces Analysis Exhibit 33: Data Table on Comparison by Service 6.3 Infrastructure - Market size and forecast 2022-2027 Exhibit 34: Chart on Infrastructure - Market size and forecast 2022-2027 ($ million) Exhibit 35: Data Table on Infrastructure - Market size and forecast 2022-2027 ($ million) Exhibit 36: Chart on Infrastructure - Year-over-year growth 2022-2027 (%) Exhibit 37: Data Table on Infrastructure - Year-over-year growth 2022-2027 (%) 6.4 Development - Market size and forecast 2022-2027 Exhibit 38: Chart on Development - Market size and forecast 2022-2027 ($ million) Exhibit 39: Data Table on Development - Market size and forecast 2022-2027 ($ million) Exhibit 40: Chart on Development - Year-over-year growth 2022-2027 (%) Exhibit 41: Data Table on Development - Year-over-year growth 2022-2027 (%) 6.5 Database - Market size and forecast 2022-2027 Exhibit 42: Chart on Database - Market size and forecast 2022-2027 ($ million) Exhibit 43: Data Table on Database - Market size and forecast 2022-2027 ($ million) Exhibit 44: Chart on Database - Year-over-year growth 2022-2027 (%) Exhibit 45: Data Table on Database - Year-over-year growth 2022-2027 (%) 6.6 Security - Market size and forecast 2022-2027 Exhibit 46: Chart on Security - Market size and forecast 2022-2027 ($ million) Exhibit 47: Data Table on Security - Market size and forecast 2022-2027 ($ million) Exhibit 48: Chart on Security - Year-over-year growth 2022-2027 (%) Exhibit 49: Data Table on Security - Year-over-year growth 2022-2027 (%) 6.7 Others - Market size and forecast 2022-2027 Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million) Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million) Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%) Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%) 6.8 Market opportunity by Service Exhibit 54: Market opportunity by Service ($ million) 7 Market Segmentation by End-user 7.1 Market segments Exhibit 58: Data Table on Comparison by End-user 7.3 Corporate - Market size and forecast 2022-2027 Exhibit 59: Chart on Corporate - Market size and forecast 2022-2027 ($ million) Exhibit 60: Data Table on Corporate - Market size and forecast 2022-2027 ($ million) Exhibit 61: Chart on Corporate - Year-over-year growth 2022-2027 (%) Exhibit 62: Data Table on Corporate - Year-over-year growth 2022-2027 (%) 7.4 Schools and colleges - Market size and forecast 2022-2027 Exhibit 63: Chart on Schools and colleges - Market size and forecast 2022-2027 ($ million) Exhibit 64: Data Table on Schools and colleges - Market size and forecast 2022-2027 ($ million) Exhibit 65: Chart on Schools and colleges - Year-over-year growth 2022-2027 (%) Exhibit 66: Data Table on Schools and colleges - Year-over-year growth 2022-2027 (%) 7.5 Others - Market size and forecast 2022-2027 Exhibit 67: Chart on Others - Market size and forecast 2022-2027 ($ million) Exhibit 68: Data Table on Others - Market size and forecast 2022-2027 ($ million) Exhibit 69: Chart on Others - Year-over-year growth 2022-2027 (%) Exhibit 70: Data Table on Others - Year-over-year growth 2022-2027 (%) 7.6 Market opportunity by End-user Exhibit 71: Market opportunity by End-user ($ million) 8 Customer Landscape Exhibit 76: Data Table on Geographic comparison 9.3 North America - Market size and forecast 2022-2027 Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million) Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million) Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%) Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%) 9.4 Europe - Market size and forecast 2022-2027 Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%) Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%) 9.5 APAC - Market size and forecast 2022-2027 Exhibit 85: Chart on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 86: Data Table on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 87: Chart on APAC - Year-over-year growth 2022-2027 (%) Exhibit 88: Data Table on APAC - Year-over-year growth 2022-2027 (%) 9.6 South America - Market size and forecast 2022-2027 Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ million) Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ million) Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%) Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%) 9.7 Middle East and Africa - Market size and forecast 2022-2027 Exhibit 93: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 94: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 95: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%) Exhibit 96: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%) 9.8 US - Market size and forecast 2022-2027 Exhibit 97: Chart on US - Market size and forecast 2022-2027 ($ million) Exhibit 98: Data Table on US - Market size and forecast 2022-2027 ($ million) Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%) Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%) 9.9 UK - Market size and forecast 2022-2027 Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million) Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million) Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%) Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%) 9.10 Germany - Market size and forecast 2022-2027 Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%) Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%) 9.11 India - Market size and forecast 2022-2027 Exhibit 109: Chart on India - Market size and forecast 2022-2027 ($ million) Exhibit 110: Data Table on India - Market size and forecast 2022-2027 ($ million) Exhibit 111: Chart on India - Year-over-year growth 2022-2027 (%) Exhibit 112: Data Table on India - Year-over-year growth 2022-2027 (%) 9.12 Australia - Market size and forecast 2022-2027 Exhibit 113: Chart on Australia - Market size and forecast 2022-2027 ($ million) Exhibit 114: Data Table on Australia - Market size and forecast 2022-2027 ($ million) Exhibit 115: Chart on Australia - Year-over-year growth 2022-2027 (%) Exhibit 116: Data Table on Australia - Year-over-year growth 2022-2027 (%) 9.13 Market opportunity by geography Exhibit 117: Market opportunity by geography ($ million) 10 Drivers, Challenges, and Trends 10.1 Market drivers About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contact