While Corporate Training Markets Will Not Live up to Earlier Forecasts, IDC Suggests Reasons for Optimism, Particularly eLearning
FRAMINGHAM, MA – SEPTEMBER 30, 2002 – While the revenue opportunities for IT training and business skills training vendors will not live up to earlier estimates, IDC's long-term outlook for both markets remains strong. IDC predicts that the worldwide IT education and training market will reach $28.6 billion by 2006, increasing at a compound annual growth rate (CAGR) of 7.1%. Over the same period, the U.S. corporate business skills training market will grow at a 13.3% CAGR, reaching $18.3 billion by 2006.
IDC suggests that the elearning segment of both the corporate IT and business skills training markets offers tremendous opportunities for growth. Corporate elearning content in the U.S. will grow at a nearly 37% CAGR for the period between 2001 and 2006. Organizations will continue to both replace and augment traditional forms of training with elearning for reasons of efficiency, convenience, and more instructionally sound use of the delivery medium.
"The worst is over for the worldwide IT training market and the overall value of training remains," says Cushing Anderson, program director of IDC's Learning Services research. "However, to traverse the rocky road to come, vendors must focus on linking training efforts to business results, present an image of stability and reliability, and address issues of suitability of elearning."
"The corporate business skills training market has also fallen victim to the weak U.S. economy and the slower-than-expected pace of recovery," says Michael Brennan, manager of IDC's Corporate Learning and Performance research. "However, we believe growth will resume with an upturn in the economy, corporate profits, and discretionary spending."
The two IDC bulletins, Worldwide and U.S. IT Education and Training Services Forecast Update, 2002-2006 (IDC #27841) and U.S. Corporate Business Skills Training Market Forecast Update, 2002-2006 (IDC #27868) present a midyear update to the five-year forecast published earlier this year. The purpose of these bulletins is to identify and quantify recent trends and events that are influencing the market opportunities for IT and corporate business skills training services through 2006. Furthermore, the two bulletins offer advice to training and elearning vendors on how to position themselves for long term success.
The document, Worldwide and U.S. IT Education and Training Services Forecast Update, 2002-2006 (IDC #27841), covers the worldwide IT training services industry, with a focus on three regions, including the Americas, Asia/Pacific and EMEA. Also included in this document are IT training forecasts by content category (i.e., applications, system infrastructure software, and application development and deployment), and by delivery category (i.e., classroom-based, text-based, and technology-based).
The document, U.S. Corporate Business Skills Training Market Forecast Update, 2002-2006 (IDC #27868) focuses on the U.S. business skills training industry and presents a forecast by delivery category (i.e., classroom-based, text-based, and technology-based).
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IDC is the foremost global market intelligence and advisory firm helping clients gain insight into technology and ebusiness trends to develop sound business strategies. Using a combination of rigorous primary research, in-depth analysis, and client interaction, IDC forecasts worldwide markets and trends to deliver dependable service and client advice. More than 700 analysts in 43 countries provide global research with local content. IDC's customers comprise the world's leading IT suppliers, IT organizations, ebusiness companies, and the financial community. Additional information can be found at www.idc.com.
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