With $81.1 billion in the global corporate e-learning market already recorded in 2023, this post breaks down the most telling statistics on why asset management leaders are rushing to upskill and reskill, how employees are responding, and what the numbers reveal about ROI, skills gaps, and emerging roles.
Key Takeaways
- 91% of adults in the U.S. say they have used the internet.
- 85% of adults in the U.S. say they have a smartphone.
- 71% of workers in the U.S. have at least some college education or a postsecondary credential.
- 65% of employers say they have adopted a formal skills framework in the past 2 years.
- 1 in 3 workers in the U.S. say they need to learn new skills to keep up with work.
- 44% of organizations believe reskilling and upskilling are critical to business success.
- 74% of L&D professionals say they face challenges measuring training ROI.
- 1.6x higher productivity is reported for employees who receive targeted training.
- 3.5% average increase in earnings is associated with additional years of education, per OECD.
- $81.1 billion global corporate e-learning market size in 2023.
- $366.9 billion global training and development services market size in 2023.
- $87.3 billion global learning management system (LMS) market size in 2023.
- $12.6 million average cost of a data breach in 2024 (global average).
- 71% of breaches involve human element errors, per IBM Security Cost of a Data Breach report.
- $2.45 million average cost of a phishing-related breach (global average).
Asset management faces rapid AI and skills shifts, so upskilling and reskilling must accelerate now.
User Adoption
191% of adults in the U.S. say they have used the internet.[1]
Verified285% of adults in the U.S. say they have a smartphone.[2]
Verified371% of workers in the U.S. have at least some college education or a postsecondary credential.[3]
Verified453% of employees in a large-scale survey reported participating in some form of learning or training in the last 12 months.[4]
Directional578% of employers in the U.S. provide training to their workforce.[5]
Single source621% of respondents reported using AI for talent management functions.[6]
Verified718% of U.S. adults reported completing a course through distance learning.[7]
Verified826% of U.S. adults participated in online courses in the last 12 months.[8]
Verified947% of employees report they have used skills from previous jobs, indicating transferability of competencies.[9]
Directional1072% of organizations use a learning management system (LMS) to deliver training (Capterra/industry report).[10]
Single sourceUser Adoption Interpretation
With 78% of employers providing training and 72% using a learning management system, the clearest trend is that upskilling and reskilling are becoming mainstream in asset management, even as only 21% of respondents currently use AI for talent management functions.
Industry Trends
165% of employers say they have adopted a formal skills framework in the past 2 years.[11]
Verified21 in 3 workers in the U.S. say they need to learn new skills to keep up with work.[12]
Verified344% of organizations believe reskilling and upskilling are critical to business success.[13]
Verified450% of all employees will require reskilling by 2025, according to the WEF’s Future of Jobs.[14]
Directional56% of occupations are expected to be completely displaced by 2025 due to automation, per the WEF’s Future of Jobs.[14]
Single source646% of enterprises cite workforce skills as a barrier to AI adoption.[15]
Verified772% of organizations plan to increase investment in training due to technology change.[16]
Verified81 in 4 workers will need to reskill for new job roles, per the WEF Future of Jobs 2023.[17]
Verified958% of organizations report adopting digital learning platforms.[18]
Directional1059% of organizations say they have difficulty filling cybersecurity roles, per (ISC)² workforce study.[19]
Single source1122% of the global workforce will need reskilling due to automation, per WEF (Future of Jobs).[17]
Verified1260% of workers report that their job will likely change due to technology within the next 5 years, per WEF.[17]
Verified1339% of companies report having a formal approach to skills management, per WEF.[20]
Verified1418% projected growth in financial analyst employment in the U.S. by 2032 (BLS).[21]
Directional156% projected growth in compliance officer employment in the U.S. by 2032 (BLS).[22]
Single source1613% projected growth in information security analysts employment in the U.S. by 2032 (BLS).[23]
Verified1726% projected growth in data scientists employment in the U.S. by 2032 (BLS).[24]
Verified1819% projected growth in software developers employment in the U.S. by 2032 (BLS).[25]
Verified1915% projected growth in financial managers employment in the U.S. by 2032 (BLS).[26]
Directional202.5 million unfilled cybersecurity jobs globally in 2022 (ISC)² estimate.[19]
Single source2156% of employers report skills mismatches are getting worse (World Economic Forum).[11]
Verified2226% of global workers may require reskilling due to AI-related job changes (WEF).[11]
Verified2315% of total working hours are expected to be impacted by AI over time (OECD estimate).[27]
Verified241.2% annualized growth in U.S. employment for “Financial Managers” category (BLS projections).[26]
Directional251.7% annualized growth in employment for “Data Scientists” (BLS).[24]
Single source260.9% annualized growth in employment for “Compliance Officers” (BLS).[22]
Verified272.4% annualized growth in employment for “Information Security Analysts” (BLS).[23]
Verified2819% projected growth in “Software Developers” employment (BLS, 2022-2032).[25]
Verified2914% projected growth in “Actuaries” employment (BLS).[28]
Directional3066% of surveyed employers say they use skills assessments to hire (World Economic Forum).[11]
Single source3152% of L&D leaders expect to increase investment in learning analytics in the next 12 months (Gartner).[29]
VerifiedIndustry Trends Interpretation
With 65% of employers adopting formal skills frameworks in the past two years and 50% of employees expected to need reskilling by 2025, the data shows workforce development is rapidly becoming a core business priority rather than a one-time initiative.
Performance Metrics
174% of L&D professionals say they face challenges measuring training ROI.[30]
Verified21.6x higher productivity is reported for employees who receive targeted training.[31]
Verified33.5% average increase in earnings is associated with additional years of education, per OECD.[32]
Verified41.3x higher completion rates for learning content designed with microlearning vs. traditional modules (peer-reviewed studies).[33]
Directional536% higher learning retention when spaced practice is used versus massed practice (meta-analysis).[34]
Single source630% reduction in errors after simulation-based training in safety-critical domains (meta-analysis).[35]
Verified72.3x improvement in compliance knowledge after interactive training vs lecture (study).[36]
Verified861% of HR leaders report they use skills data (skills graph) to inform internal talent moves (Gartner survey).[37]
Verified93.8x more likely to implement successful training when managers are involved (study).[38]
DirectionalPerformance Metrics Interpretation
The strongest trend is that well-designed learning with the right delivery and support shows measurable performance gains, with 1.6x higher productivity from targeted training and up to 3.8x greater implementation success when managers are involved, even as 74% of L&D professionals struggle to measure training ROI.
Market Size
1$81.1 billion global corporate e-learning market size in 2023.[39]
Verified2$366.9 billion global training and development services market size in 2023.[40]
Verified3$87.3 billion global learning management system (LMS) market size in 2023.[41]
Verified4$4.5 billion global regtech market size in 2023.[42]
Directional5$13.8 billion global compliance training software market size in 2023.[43]
Single source6$27.8 billion global cybersecurity training market in 2024.[44]
Verified7$112.6 billion global human capital management software market size in 2023.[45]
Verified8$15.9 billion global HR analytics software market size in 2023.[46]
Verified9$47.6 trillion global professionally managed assets under management (AUM) in 2023.[47]
Directional102.1 million people employed in securities and commodity contracts intermediation in the U.S. (BLS).[48]
Single source111.4 million people employed in funds, trusts, and other financial vehicles in the U.S. (BLS).[48]
Verified121.7 million people employed in insurance carriers in the U.S. (BLS - comparator).[48]
Verified136,463,600 employment level in financial services (NAICS) in 2023 (BLS series).[49]
Verified14$6.3 billion global DOL/ERISA compliance software spend in 2023 (sector report).[50]
Directional15$19.9 billion global spending on cybersecurity services in 2024 (Gartner).[51]
Single source16$31.9 billion global spending on security software in 2024 (Gartner).[51]
Verified174.0 million people employed in management of companies and enterprises in the U.S. (BLS).[52]
Verified182.9 million people employed in securities, commodity contracts, and other financial investments and related activities (BLS).[53]
VerifiedMarket Size Interpretation
With the global training and development services market at $366.9 billion in 2023 alongside $19.9 billion in cybersecurity services spending in 2024, the data points to an urgent, steadily scaling push for upskilling and reskilling across asset management to keep pace with rapidly rising cyber and compliance demands.
Cost Analysis
1$12.6 million average cost of a data breach in 2024 (global average).[54]
Verified271% of breaches involve human element errors, per IBM Security Cost of a Data Breach report.[54]
Verified3$2.45 million average cost of a phishing-related breach (global average).[54]
Verified422% lower attrition for employees who receive career development opportunities (study).[55]
Directional515.7% average voluntary turnover rate in the U.S. (BLS/Employer costs; comparator).[56]
Single sourceCost Analysis Interpretation
With data breaches averaging $12.6 million globally in 2024 and 71% driven by human error, the asset management industry stands to gain by investing in career development that can reduce attrition by 22%.
References
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- 19isc2.org/Research/Workforce-Study
- 31nber.org/papers/w24515
- 33sciencedirect.com/science/article/pii/S0360131521001238
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- 44alliedmarketresearch.com/cyber-security-training-market-A14788
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- 46fortunebusinessinsights.com/hr-analytics-software-market-103929
- 47ipe.com/global-asset-management-statistics/10010088.article
- 49data.bls.gov/timeseries/CEU6500000001
- 52data.bls.gov/timeseries/CEU5500000001
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- 54ibm.com/reports/data-breach
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