Corporate Training and Adult Education Markets Continue to Grow Worldwide

Two peripheral areas of education are leading the way in utilizing technology to speed learning and dramatically cut costs: leisure learning and corporate training. The leisure education market has been stormed by savvy entrepreneurs who offer online- and DVD-based learning that has become wildly popular. Leaders in this area include Lynda.com (acquired by LinkedIn for $1.5 billion), where a modest monthly subscription price provides access to thousands of online courses ranging from how to use various types of software to how to bolster photography skills. Similar success has been achieved in online courses covering arts and crafts at craftsy.com. A company called The Great Courses (www.thegreatcourses.com) has built a tremendous business by offering online- and DVD-based lectures by outstanding professors, covering topics ranging from philosophy to the great religions to history to economics. Rosetta Stone (www.rosettastone.com) has likewise built a very large business offering discs and online versions of language lessons.

Corporate training and education was a $100 billion market in the U.S. in 2023, according to Training magazine, and a $200 billion market worldwide, according to Plunkett Research estimates. While many of the world’s largest corporations have their own in-house training departments, classrooms and even learning campuses, much of employee development and training is being outsourced, particularly in the small- to mid-sized employer market. A very wide variety of providers are taking advantage of this trend. Leaders include software training offered by CodeAcademy (teaching software development). Udacity, one of the world’s most talked about MOOC companies has changed its focus from providing university courses online to providing corporate training. Corporate training may be aimed at employees at nearly all levels. For example, McDonald’s Hamburger University teaches more than 7,500 students per year. Elsewhere, Apple hired a top pro, Yale University’s business school dean Joel Podolny, to run its corporate university. By one count, roughly 4,000 corporations around the world have their own in-house institutions of advanced training.

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Corporate Training and Adult Education Markets Continue to Grow Worldwide, Business and Industry Trends Analysis

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