The market size of the workplace training industry increased steadily between 2009 and 2019 in North America, reaching an estimated value of 169 billion U.S. dollars. In 2020, due to the consequences of the coronavirus (COVID-19) outbreak, corporations' spending on training and development initiatives decreased slightly, reaching a value of 165 billion U.S. dollars.
Workplace training industry worldwide
Workplace training aims at teaching staff members specific skills needed to perform tasks and it can focus on developing either hard or soft skills. The size of the global workplace training industry has been increasing in recent years, except for 2020. The United States is the country with the largest workplace training industry worldwide, accounting for approximately 25 percent of the total.
Budget and time allocated for training
As economies, markets, and technologies develop fast, workers need training in order to keep up with new developments, findings, and trends. Most companies invest a lot of resources for reskilling or upskilling their employees. However, time and money allocated for training varies according to the company size and the industry in which they operate.
Market size of the workplace training industry in North America from 2007 to 2020
(in billion U.S. dollars)
Data prior to 2018 from earlier publications by the source.
The data does not include expenditures related to consumers' spend for training programs (individuals taking training courses for personal or non-work related development); revenues of educational institutions (universities and for-profit educational companies) or revenues of community colleges from students paying tuition. It does include dollars paid by corporations to educational institutions for corporate training initiatives.
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Training Industry. (March 29, 2021). Market size of the workplace training industry in North America from 2007 to 2020 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 09, 2024, from https://www.statista.com/statistics/738412/size-of-the-workplace-training-market-north-america/
Training Industry. "Market size of the workplace training industry in North America from 2007 to 2020 (in billion U.S. dollars)." Chart. March 29, 2021. Statista. Accessed November 09, 2024. https://www.statista.com/statistics/738412/size-of-the-workplace-training-market-north-america/
Training Industry. (2021). Market size of the workplace training industry in North America from 2007 to 2020 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 09, 2024. https://www.statista.com/statistics/738412/size-of-the-workplace-training-market-north-america/
Training Industry. "Market Size of The Workplace Training Industry in North America from 2007 to 2020 (in Billion U.S. Dollars)." Statista, Statista Inc., 29 Mar 2021, https://www.statista.com/statistics/738412/size-of-the-workplace-training-market-north-america/
Training Industry, Market size of the workplace training industry in North America from 2007 to 2020 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/738412/size-of-the-workplace-training-market-north-america/ (last visited November 09, 2024)
Market size of the workplace training industry in North America from 2007 to 2020 (in billion U.S. dollars) [Graph], Training Industry, March 29, 2021. [Online]. Available: https://www.statista.com/statistics/738412/size-of-the-workplace-training-market-north-america/
