New Delhi, June 18 (KNN) The corporate training market is expected to showcase a vibrant growth, with revenues to reach Rs. 32 billion by FY’2020. The market will continue to grow in the coming years with a substantial number of private and public organizations looking forward to allocate significant share to training and development programmes to leverage the vast potential in the evolving Indian economy, according to a research.

The report was released by Ken Research in its latest publication on 'Global Expansion of Businesses and Compelling Need for Technical Training with Rising Competition between Domestic and Global Companies to Enhance India Corporate Training Market Future Growth'.

The industry is likely to be driven by the emerging MSMEs and start-ups that have mushroomed in the last decade. MSMEs have slowly come to realize that calendar training is just not enough and they need to conduct disruptive training programs to optimize their productivity and to sustain the market forces, said the research.

Demand for niche training programs on big data modules and machine learning is expected to fuel the market growth in the forthcoming years. There has been a significant shift towards outcome-oriented learning in Indian organizations.

Companies in India have developed increased interest towards trainings that are aligned to their business needs. Sales programs, customer management programs and other managerial and leadership trainings are conducted keeping in mind the organization specific business strategies and practices. Organizations have got proactively engaged in training needs analyses that has a direct link to business goals and future priorities.

Currently, the market for corporate training is highly fragmented with presence of close to 700 small and large sized companies engaged in delivery of all sorts of popular and niche training courses across several verticals. Low cost of investment, lack of entry barriers and minimal price differentials has led to high competition in the market and at the same time guarantee enormous scope for growth. There exists enormous opportunities and scope of innovations and development in the market that will widen the portfolio of niche courses and instigate the market. (KNN Bureau)