Professional and Management Development Training
The professional management development training industry comprises of establishments primarily engaged in offering an array of short duration courses and seminars for management and professional development. Training for career development may be provided directly to individuals through employers’ training programs and courses that are customized or modified to meet the special needs of their customers. Common types of services within this sector include:
- Continuing Education (classes, seminars, and conferences)
- Professional Development Training
- Quality Assurance Training
- Management Development Training
The four common platforms for delivering Professional and Management Development Training Include:
- Instructor-led Training (ILT)
- Mobile Learning (Training content is downloaded to smartphones via apps)
- Blended Learning
Exports and Imports of Professional and Management Development Training
U.S. exports of training services totaled $2.48 billion (USD) in 2018, and the U.S. imported $1.48 billion in training services, which equals a surplus of $1.0 billion (USD) in 2018.
Global Professional and Management Development Training Market
The global professional and management development training industry was hit heavily during the Great Recession, but has rebounded strongly, posting year-on-year growth to reach an estimated market size of $366.2 billion (USD) in 2018.
Given the size of the U.S. education sector, North America is the largest market for Professional and Management Training with an estimated market size of $166.8 billion (USD) in 2018.
- Between 2018-2020, the professional and management development training industry is expected to grow at a CACR of 4-5 percent.
- North America accounts for about 40 percent of the e-learning market.
- The e-learning market is expected to grow from $190 billion (USD) to $300 billion USD by 2025, according to the 2019 Global Market Insights, Inc. Report.
- Average annual spending per employee on professional and management development training is $1,299 (USD).
- In North America and Europe, e-learning services are expected to increase due to the demands for gamification and an increase in applications providing LMS platforms and rapid e-learning tools.
- In North America and Europe, self-paced learning is a growing market, due to the convenience factors for employees.
- In 2107, the top markets in the mobile learning market were the United States, Brazil, Indonesia, China, and India.
- In developing markets, very few providers are technically equipped to integrate VR technologies into e-learning modules.
- The rise in popularity of microlearning, which involves dividing learning content into smaller sections that provide a clear understanding of a concept.
- Growing emphasis on training programs that emphasis flexible learning platforms.
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