NEW CASTLE, Delaware, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Frontline Workers Training Market by Offering (Solution and Services), by Mode of Learning (Online/E-Learning, Offline and Blended Learning), Application (Content Management, Performance Management, Talent Management, Risk & Compliance Management, Campaign Management, Onboarding & Engagement Management and Others), Skillset Type (Problem Solving & Critical Thinking, Technical & Functional Skills, Customer Focus & Relationship Building,, Safety Awareness & Procedures, Customer Service Skills and Others), and Vertical (BFSI, Retail & E-commerce, Transportation & Logistics, Government & Defense, Healthcare & Life Sciences, Telecommunications, Manufacturing, IT/ITes, Travel & Hospitality, Education and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the frontline workers training market was valued at $21.9 billion in 2023, and is estimated to reach $98.3 billion by 2033, growing at a CAGR of 16.2% from 2024 to 2033.
Prime determinants of growth
The global frontline workers training market has experienced growth due to surge in demand for digital learning platforms, technological advancements, and digital transformation. However, lack of access to technology hinders market growth.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $21.9 Billion |
| Market Size in 2033 | $98.3 Billion |
| CAGR | 16.2% |
| No. of Pages in Report | 200 |
| Segments Covered | Offering, Mode of Learning, Application, Skillset Type, Vertical, and Region. |
| Drivers | Increasing Demand for Digital Learning Platforms |
| Technological Advancements | |
| Digital Transformation | |
| Opportunities | Rising Demand for Learning Management Systems |
| Advancements in Digital Learning Platforms | |
| Restraint | Lack of Access to Technology |
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Segment Highlights
The services segment held the highest market share in 2023.
By offering, the solution segment held the highest market share in 2023, owing to the increasing demand for comprehensive training platforms and tools that provide scalable, efficient, and accessible training solutions tailored to the needs of frontline workers across various industries. However, the services segment is projected to attain the fastest growing segment from 2023 to 2032, owing the rising need for customized training programs, continuous support, and consulting services that ensure effective implementation and ongoing optimization of training initiatives for frontline workers training.
The blended learning segment held the highest market share in 2023.
By mode of learning, the online/e-learning segment held the highest market share in 2023, due to the increasing accessibility of digital platforms and the convenience they offer for training delivery, especially for geographically dispersed or remote workers. However, the blended learning segment is projected to be the fastest growing segment from 2023 to 2032, owing to rise in preference for a flexible and comprehensive training approach that combines the benefits of both online/e-learning and traditional offline methods.
The risk and compliance management segment held the highest market share in 2023.
By application, the performance management segment held the highest market share in 2023, due to its key role in enhancing frontline worker productivity, efficiency, and overall job performance through targeted training and skill development programs. However, the risk and compliance management segment are projected to attain the fastest growing segment from 2023 to 2032, owing to increasing regulatory requirements and the need to mitigate operational risks through specialized training programs for frontline workers.
The customer focus and relationship building segment held the highest market share in 2023.
By skillset type, the technical and functional skills segment held the highest market share in 2023 and is also expected to register the highest CAGR during the forecast period. This is attributed to the increasing need for frontline workers to possess specialized technical knowledge and expertise to perform their roles effectively. However, the customer focus and relationship building segment are projected to attain the fastest growing segment from 2023 to 2032, owing to the growing emphasis on enhancing customer experience and the critical role frontline workers play in building and maintaining customer relationships.
The healthcare and life sciences segment are expected to grow faster during the forecast period.
By vertical, the BFSI segment held the highest market share in 2023, and is also expected to register the highest CAGR during the forecast period. This is attributed to the sector's complex regulatory environment and the need for continuous training to meet evolving customer expectations and technological advancements. However, the healthcare and life sciences segment are projected to attain the fastest growing segment from 2023 to 2032, owing to the increasing focus on patient care, regulatory compliance, and technological advancements requiring specialized training for frontline workers in health and life science industries.
North America to maintain its dominance by 2033
North America leads the market share in 2023, owing to its early adoption of modern technologies. It is anticipated to present an excellent opportunity for frontline worker training distributors to broaden this market. However, the Asia Pacific is projected to attain the fastest growing region from 2023 to 2032, owing to rapid urbanization and industrialization in the region, coupled with government support for adopting deskless technology, the Asia Pacific market is expected to grow. The Companies such as BFSI, healthcare, hospitality, and retail are increasingly demanding workforce development skills, further fueling market expansion
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Major Industry Players: -
- PTC
- Microsoft Corporation
- Google LLC
- Adobe Inc.
- Intertek Alchemy
- Cornerstone On Demand
- Skillsoft
- Beekeeper
- Axonify
- Frontline Data Solution
The report provides a detailed analysis of these key players in the global frontline workers training market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and acquisition to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.
Recent Development:
- In June 2022, Axonify, a frontline employee training and communications platform, announced the acquisition of Nudge, the top-rated employee communication and execution platform. This acquisition will simplify frontline team enablement and offer best-in-class tools for frontline-devoted organizations.
- In June2022, YOOBIC announced a partnership with OpenSesame, the global SaaS eLearning leader, to provide powerful training and development opportunities for frontline teams. This partnership will support employees with in-the-workflow access to over 25, 000 digitally optimized training courses in critical areas including mental health, wellness, diversity, and on-the-job safety.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
