The global training market was valued at US$ 94,828.5 Mn in 2017 and is expected to exhibit a CAGR of 6.4% over the forecast period and reach US$ 174,596.6 Mn in 2027. North America accounted for 45.1% of the revenue share in the global training market in 2018. The market in India is expected to grow at a significant rate over the forecast period, followed by rest of Asia Pacific. This growth is attributed to growing adoption of learning management systems across the globe to gain better returns on investment made in talent development, employee training, and other similar programs.

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The Asia Pacific market is witnessing high growth due to increasing demand for cost effective learning management solutions. Moreover, an increase in the number of start-ups operating in the e-learning industry has aided growth of the training market in this region. There has also been a marked shift from traditional methods to technology driven methods in the past few years. For instance, in 2013, Oracle introduced 'Oracle Learn Cloud 13A' with advanced training management and delivery features in the Asia Pacific region.
Learning management system segment held dominant position in the market in 2018
Learning management system is a software application, which is used for planning, reporting, tracking, administration, documentation, reporting, implementation, and for accessing training or learning programs. Moreover, a learning management system can help instructors to generate and distribute content, and monitor learner's performance and progress. A learning management system has application in the higher education sector and corporate sector due to its wide range of functions such as managing and delivering all types of content such as documents and videos; it also contains interactive features such as video conferencing, discussion forums, and threaded discussions. For instance, various learning management systems are available in the market, such as TalentLMS, Canvas LMS, Edmodo, Schoology, Docebo, Litmos LMS, SkyPrep, iSpring Learn, and Brightspace among others.

North America held the dominant position in the Training market in 2017
North America is expected to be the largest market in terms of size during the forecast period, owing to rising demand for effective and quality education in the region. Furthermore, several key players such as SafetySkills and IFP Training that are engaged in providing training to employees, have high presence in this region. The training industry in North America includes both internal and external resources that are employed by key players to train their staff on specific and required skills needed to perform their jobs. The primary factor that is driving demand in the U.S. education LMS sector is the increasing number of universities that offer online education, which in turn is facilitating growth of the training market in the region. However, challenges with proper implementation of learning management systems faced by educational institutions due to budget constraints and lack of expertise, are expected to hamper growth of the market.

Moreover, Europe-based corporations are investing significantly in digitizing training processes, to ensure quicker and convenient delivery of training content to employees. Digitization also helps to overcome restrictions such as adherence to a set time and place of training. Furthermore, many organizations prefer using standardized courses provided by training content developers. For instance, Pearson Education, a U.K. based education publishing and assessment service company, offers IT certification training courses to leading networking, hardware, and software companies such as Microsoft, Oracle, Cisco, and IBM.
The training market in Latin America is expected to witness significant growth in the near future. This growth is majorly attributed to evolution of digitized corporate training in the region that is rapidly replacing conventional training methods. Moreover, increasing number of mobile device users has led to considerable demand for mobile-based training. As per analysis done by Coherent Market Insights, in 2018, the number of mobile users in Latin America was 424 million, and the number increased to 431 million by 2019. Additionally, emergence of novel education programs such as game-based learning to promote online learning via various platforms including social media, is expected to help market players strengthen their footprint in the training market.

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Global Training Market: Key Players
Major players operating in the global training market include Skillsoft Limited, Safety Media, GP Strategies Corp., UL EHS Sustainability, PRYOR Learning Solutions, Raytheon Company, DuPont Sustainable Solutions, 360training.com, Inc., SAP Litmos, Vector Solutions, Global Training Solutions, Inc., Cornerstone onDemand, Petroskills, and Euro Petroleum Consultants Ltd. [EPC].