IT training is a general term that encompasses many different sectors, technical knowledge, and other elements connected to the internal business operations that a corporation depends on to run. With the increasing adoption of the latest technologies by organizations globally, IT training has become essential for companies to carry out their operations in an efficient manner. Proper IT training prepares an employee to manage data and resources effectively and boosts their efficiency and productivity.
The global IT training market is segmented on the basis of type and application. Based on type, the market is sub-segmented into infrastructure, development, data and AI, security, and others. Based on application, it is sub-segmented into individuals, SMEs, enterprises, government organizations, the military, and others.
Industry Demand and Key Trends
According to OMR Research, the global IT-training market is projected to grow at a CAGR of 6.2% during the forecast period (2023-2029). The shift from traditional training to e-learning training helps firms save workers' working hours, and the rising popularity of online learning among employees for re-skilling is a significant driver driving market growth. Moreover, businesses can save costs and expenses by providing IT training to their staff using e-learning methods, which is affecting the growth of the online training platforms as well. For instance, in order to better serve the demands of today's younger IT trainees, New Horizons IT and Business Training Solutions, a global leader in providing cutting-edge IT training to corporate students and managers for 40 years, launched a new website in January 2022. The website increases visual engagement and is user-friendly, offering additional possibilities for the next generation of IT workers to learn. Governments and public organizations are also creating policies and making expenditures to support the advancement of educational technology and e-learning methods. As a result, there is a greater demand for IT training platforms. Additionally, according to the World Economic Forum's Future of Jobs Report, as technology usage rises, 50% of all employees will require reskilling by 2025. According to Gartner's top strategic technology trends for 2023, more than half of organizations will employ industrial cloud platforms to advance their business efforts by 2027. Due to this, each and every employee of any organization will require proper IT training, resulting in the market’s growth.
Besides, there is a new LMS trend among enterprises that is prompting the market’s growth. An LMS, or learning management system, is a digital platform for delivering and managing educational courses and programs. An excellent LMS can do more than merely assist users in accessing instructional information. It can provide structure to a company's L&D agenda, adapt to its upskilling strategy and culture, and integrate into its different digital environments. LMS is also cost effective from the standpoint of an SMB enterprise. The courses provided through the LMS can also help reduce the amount of time required by employees when onboarding a new employee and performing yearly compliance training for businesses.
Recent Developments
Avnet, Inc., Dell, ExecuTrain, ExitCertified Corp., Fast Lane, Firebrand, Global Knowledge, GP Strategies Corp., HP, Inc., IBM Corp., ILX Group, InfoPro Learning, Inc., InfoSec Institute, and others are assisting in the market’s growth through various investments in technological advancements, new platform launches, and mergers and acquisition activities. Some of the recent developments in the market include-
• In October 2022, AWS introduced three free training programs to advance tech abilities and cloud computing jobs. As part of AWS's aim to offer 29 million individuals free training by 2025, three training programs concentrate on helping Ukrainians re-enter the workforce, reskilling IT professionals for mid-level cloud roles, and establishing learning opportunities for those with minimal computing abilities.
• In October 2022, the Align Lenawee Talent Consortium launched a learning management system, often known as an LMS, that provides online training that employees can complete at their own leisure. The LMS offers over 150 courses from which learners can choose. Customer service, essential skills (previously known as soft skills), office and business essentials, organizational skills, executive leadership, marketing, personal development, project management, sales, presentation skills, and software skills are among the 13 categories of courses. Additionally, safety training, diversity and inclusion, customer service, business etiquette, digital citizenship, lean process, Six Sigma, and other essential compliance training are some of the key courses.
• In July 2022, UpsideLMS created a powerful LMS called Saksham: Free Forever—with the purpose of providing the finest in learning and development to companies of all sizes, particularly SMBs with low expenditures. Saksham is a free forever learning management system that companies of all sizes can set up and use to begin their learning journey. Saksham: Free Forever envisions facilitating learning for everyone, wherever they are and at any time, through its sophisticated recommender system and mobile app. SMBs can use this LMS to access unlimited learning content, AI recommendations, gamification, multiple learning delivery modes, mobile learning, and social learning.