The global IT Training market was valued at US$ 44.7 Billion in 2020 and is expected to reach US$ 66.7 Billion by 2027 with a growing CAGR of 6.0 % during the forecast period. IT training refers to the training that is related with the information technology industry. The courses included under IT training includes application, design and development, support, or management of the computer-based information system. IT infrastructure training includes training on building, sustaining and managing the overall technical infrastructure.
Approximately, 59% of the talent developers spend more of their budget on online training. With the increasing adoption and investments in e-learning by the corporate and individuals, e-learning content developers are also increasing their R&D in the field. Virtual training is one of the key parameters in training processes for organizations of all sizes, with mid-sized organizations prioritizing virtual training to a large extent.
Moreover, business organizations are increasingly using mobile phones and other internet-connected devices for business operations owing to easy accessibility, reducing the cost of the devices, multi-functionality, deeper employee engagement, and high operational efficiency. Additionally, various public bodies and government initiatives are being undertaken to further improve the use of mobile phones among SMEs.
Coronavirus has impacted the budgets of organizations as the companies are more concerned about spending their budget on essential business functions. COVID-19 had a negative impact on approximately 43% of the organizations in terms of their corporate training budget. Approximately, 51% of the organizations are still in the process of migrating their face-to-face classroom training sessions to other formats such as virtual training and e-learning. 40% of the organizations that opted for face-to-face classroom training post-COVID-19 are facing challenges in training their employees. Nonetheless, there is a tremendous hike in virtual training incorporates and by individuals to improve their skills and capabilities.
Government policies and investments towards the expansion of educational technology and e-learning methods have propelled the demand for IT training services. Government and associations across the globe have recognized e-learning as one of the key areas when it comes to using education and communication media. Ministry of Electronics & Information Technology is financially supporting the projects that are undertaking research and development in the field of e-learning to promote e-learning in India. For instance, The National eGovernance Division (NeGD) offers Government Department's e-Learning as a Service (eLaS) free of cost.
IT training is available with latest e-content modules and state-of-art studio facilities. The Digital India Programme initiated by the Government of India in 2015, has initiated the Learning Management System (LMS) project to digitally transform India by leveraging IT as a growth engine. Moreover, the USALearning® Program Site is an official learning and development website for the U.S. Federal Government. It provides access to high-quality e-learning services, products, and information that includes learning content management systems (LCMS), learning management systems (LMS) and associated services, eLearning/Testing platforms, and other customized among others.
In terms of market by Service, the IT infrastructure training segment accounted for the largest segment in the IT Training market and is expected to continue its dominance during the forecast period.
IT Infrastructure has come a long way since its traditional conceptual understanding. Nowadays, it has more dimensions to it which are important for business processes. It comprises hardware, cloud computing, software, networking, and human processes. It is crucial for organizations to manage the IT infrastructure at an optimum capacity in order to ensure smooth functioning of other business processes and to make sure of the business's success. This has led to increased demand for training services in order to ensure certified individuals or employees manage the IT infrastructure.
The IT infrastructure training market size was around US$ 14 billion in 2020 and is projected to grow at a significant CAGR during the forecast period.
North America IT Training Size accounted for the largest market share in 2020.
North America region accounted for the largest share of the IT training market followed by Europe and the Asia Pacific. The North America region is also projected to witness a higher demand in the coming years on account of the increasing demand for security and infrastructure IT training across various industry verticals. The adoption of cybersecurity solutions is expected to grow in the region owing to high internet consumption and expanding usage of smartphone devices. Additionally, the organizations in the U.S. have high spending power on training. As per our Training Magazine, in 2019 the overall U.S. expenditure on training was US$ 83 billion. Further, the demand for e-learning owing to COVID 19 pandemic has increased substantially in recent years. Online training in the education field has thus witnessed noteworthy acceptance in the region.
|1||The demand for cybersecurity training in the Asia Pacific region is increasing owing to high internet penetration and BYOD as well as work from the home trends that have been widely accepted in the region. Many nations in the Asia Pacific including India, South Korea, Japan, and Singapore are facing issues related to cybersecurity. For instance, India ranks fifth in terms of the overall DNS hijacks. Also, as per our secondary sources, India accounts for 37% of the global breaches in terms of records stolen or compromised.||Positive|
|2||The demand for IT training has been increased among small-scale organizations in the past few years. As per our Training Magazine, small enterprises accounted for one-third of the total budget for training expenditure worldwide.||Positive|
|Sr. No.||Type of Development||Year||News and Developments in the IT Training market|
|1||Partnership||2021||Island Pacific, a division of 3Q Holdings Limited and a renowned provider of software solutions and services to the retail industry announced a partnership with CGS for its BlueCherry Next™ PIM (Product Information Management) and PLM (Product Lifecycle Management) solutions.|
|2||Promotion||2019||Fast Lane Germany announced its achievements of getting recognized as the top VMware education partner in the CEMEA region and was awarded for exceptional VMware services.|
|3||Service Launch||2021||Global workplace transformation solutions provider GP Strategies Corporation announced its Automotive Advisory Board to support its global automotive practices. This new formation is expected to strengthen GP Strategies’ competitive advantage and offer a diverse range of advisory services on various subjects including business development, innovation, and strategic announcements.|
|4||Partnership||2020||GP Strategies Corporation announced its partnership with Whatfix- a SaaS-based platform providing n-app guidance and performance support for applications and software products, to enhance the company’s portfolio in digital adoption solutions and guided learning services.|
|5||Partnership||2020||DDLS entered into a partnership with CertNexus to provide affordable cybersecurity training for IT and Security Professionals. The first course that is being offered under the partnership will help in identifying risks involved in mobile, cloud, and conventional technologies to protect the organizations from cyber threats.|
The key players operating in the IT Training Market are:
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Note*- Similar pointers are applicable to all the listed companies.