Workforce Development Services Market: Introduction
- Workforce development services is a particular point of services that includes for employment workforce information, its education and training services. Workforce development services advance the skills of workers of all ages to improve their career prospects.
- Workforce development services can benefit federal, state, and local agencies, adult schools, training organizations, labor unions, philanthropic organizations, researchers, and public workforce agencies among others. These services promote a seamless progression from educational, training, and workplace learning options to employment, by implementing innovative and evidence-based practices for job seekers.
- Workforce development is an essential component of community economic development, which has been adversely affected by the outbreak of COVID-19. The pandemic outbreak has impacted many organizations, institutions, and governments, leading to financial crisis. The pandemic has resulted in small & medium and large size enterprises temporarily suspending or permanently terminating their employees. COVID-19 has led to lack of workforce development in enterprises across the world, due to which employees are facing salary cuts. Workforce development service providers are offering well advanced workforce services, to educate and train individuals to meet the needs of current and future business and industry, so as to maintain a sustainable competitive economic environment.
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Global Workforce Development Services Market: Dynamics
Global Workforce Development Services Market: Key Drivers and Restraint
- Increasing adoption of workforce development services in small and medium sized organizations is likely to be one of the most important opportunities in the global market. Since these organizations are unaware of the benefits of workforce development service, as it is highly expected to grow in the coming couple of years.
- Automation is also bolstering the demand for workforce development services across the world. Automation is likely to help workforce development services by improving accuracy, cutting down the labor cost, and offering mobile access to workforce development services.
- Lack of awareness about workforce development services is an important factor restraining the growth of the global workforce development services market.
North America to Account for Major Share of the Global Workforce Development Services Market
- In terms of region, the global workforce development services market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is anticipated to lead the global workforce development services market, due to high adoption of workforce development services. The U.S and Canada are expected to be major contributors to the North American market. Enterprises in the region are the most progressive in terms of adoption of Artificial Intelligence (AI), Machine Learning (ML), and cloud adoption, thereby boosting the growth of the workforce development services market
- The workforce development services market in Asia Pacific is expected to hold significant share due to rising adoption of workforce development services to integrate daily operations and the necessity to operate as a unified enterprise. This is expected to fuel the growth of the workforce development services market across Asia Pacific.
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Global Workforce Development Services Market: Competitive Landscape
Key Players Operating in the Global Workforce Development Services Market
Local, regional, and international players are present in the workforce development services market. The market is highly consolidated, with top manufacturers accounting for approximately 25%–30% of the market share. Key players operating in the global workforce development services market are:
- AllenComm
- CARA Group Inc.
- CTU Training Solutions
- Dale Carnegie Training
- Eton Institute
- Global knowledge
- IIL India
- GP Strategies
- InfoPro Learning
- LearnQuest
- NIIT Limited
- Pearson
- Raytheon Company
- Skillsoft
- Simplilearn
- Velociteach
- Bizlibrary
- Degreed
- Litmus
- Wilson Learning Worldwide Inc.
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