Key Highlights
- By 2025, over 363 million jobs globally may be transformed due to automation and AI, necessitating upskilling and reskilling
- 84% of employers worldwide are actively involved in reskilling employees
- The global edtech market is expected to reach $605.4 billion by 2027, driven by upskilling initiatives
- 70% of employees believe that their organization should provide ongoing upskilling and reskilling opportunities
- Nearly 40% of companies indicated that lack of skills is a significant barrier to digital transformation
- The most in-demand skills for 2023 include AI, machine learning, cloud computing, and cybersecurity
- Only 20% of adults globally have received any formal upskilling or reskilling training
- 60% of learners prefer online courses for upskilling due to flexibility and accessibility
- The number of corporate e-learning users is projected to reach over 310 million by 2025
- 66% of employees said their company’s reskilling efforts positively impacted their productivity
- The global corporate training market is expected to grow at a CAGR of 10.4% from 2021 to 2028, reaching USD 355 billion
- 85% of jobs that will exist in 2030 haven’t been invented yet, emphasizing the importance of continuous upskilling
- 58% of students believe that digital skills will be more important than traditional literacy skills in the near future
With over 363 million jobs worldwide set to be transformed by 2025 due to automation and AI, the education industry faces a critical need to ramp up upskilling and reskilling efforts, as evidenced by the rapid growth of the edtech market and the overwhelming demand for digital skills.
Corporate Training Market
- The global corporate training market is expected to grow at a CAGR of 10.4% from 2021 to 2028, reaching USD 355 billion
Corporate Training Market Interpretation
Corporate Training Market and Adoption
- 47% of industry leaders believe that virtual and augmented reality will become common in corporate training within 5 years
- The demand for multilingual training content is rising, with over 60% of global companies expanding their language offerings to cater to diverse workforces
Corporate Training Market and Adoption Interpretation
Digital Learning and Education Technologies
- The use of virtual labs and simulations in training has increased by 85% since 2019, providing practical experience in a virtual environment
- Over 60% of global organizations are investing in AI-driven learning analytics to personalize training content, improving learning outcomes
- 88% of learners feel that multimedia content, such as videos and interactive modules, enhances their learning experience, which is vital for effective upskilling
Digital Learning and Education Technologies Interpretation
Skills Gap and Future Workforce Trends
- By 2025, over 363 million jobs globally may be transformed due to automation and AI, necessitating upskilling and reskilling
- Nearly 40% of companies indicated that lack of skills is a significant barrier to digital transformation
- The most in-demand skills for 2023 include AI, machine learning, cloud computing, and cybersecurity
- 58% of students believe that digital skills will be more important than traditional literacy skills in the near future
- 78% of students believe that online education helps develop skills they find difficult to learn in traditional settings
- 90% of executives believe that soft skills are equally or more important than technical skills for future-ready talent
- The global skills gap is projected to cost economies over $8.5 trillion annually by 2030, emphasizing the need for urgent upskilling
- 72% of students in higher education recognize the importance of soft skills alongside technical expertise, to remain competitive
- The median time to fill a digital skills gap in a company is approximately 145 days, underlining the urgency of proactive upskilling
- 45% of HR managers believe that AI will completely automate skills assessments in the next 5 years, streamlining recruitment and upskilling pathways
- The use of micro-credentials and digital badges for upskilling recognition has grown by over 200% since 2018, encouraging learners to pursue targeted skill development
Skills Gap and Future Workforce Trends Interpretation
Workforce Reskilling and Upskilling
- 84% of employers worldwide are actively involved in reskilling employees
- The global edtech market is expected to reach $605.4 billion by 2027, driven by upskilling initiatives
- 70% of employees believe that their organization should provide ongoing upskilling and reskilling opportunities
- Only 20% of adults globally have received any formal upskilling or reskilling training
- 60% of learners prefer online courses for upskilling due to flexibility and accessibility
- The number of corporate e-learning users is projected to reach over 310 million by 2025
- 66% of employees said their company’s reskilling efforts positively impacted their productivity
- 85% of jobs that will exist in 2030 haven’t been invented yet, emphasizing the importance of continuous upskilling
- The number of adults enrolled in digital upskilling courses increased by 42% during the COVID-19 pandemic
- 91% of organizations say that digital transformation has increased the need for reskilling their workforce
- 75% of companies report difficulty in finding talent with required digital skills, highlighting the importance of internal upskilling
- Investments in reskilling initiatives increased by 50% globally in 2022 compared to previous years
- 68% of learners believe that microlearning is highly effective for upskilling and reskilling
- Nearly 60% of organizations plan to increase their budget for upskilling and reskilling programs in the next year
- The number of learners participating in MOOCs increased by over 150% from 2015 to 2020, driven by upskilling needs
- 65% of employees agree that digital upskilling improved their ability to perform their jobs
- The average time spent on corporate digital training sessions increased from 20 minutes to 45 minutes during the pandemic, indicating growing engagement
- 81% of learners prefer bite-sized content for skill development, aiding effective upskilling
- Employer-sponsored educational assistance programs increased by 30% post-pandemic, supporting employee upskilling
- The majority of young workers (under 30) view upskilling as essential to career advancement, with 78% active in seeking learning opportunities
- 55% of companies are integrating AI and machine learning in their upskilling curricula to prepare employees for future roles
- 90% of learners report increased confidence after completing upskilling courses, facilitating workplace advancement
- The use of AI-powered personalized learning platforms increased by 120% between 2018 and 2022, enabling tailored upskilling experiences
- 62% of companies believe that lack of digital skills hinders their innovation capabilities, showing the importance of reskilling
- Only 15% of global organizations have full-scale internal reskilling programs, indicating significant growth opportunities
- By 2024, it is estimated that 50% of online learners will be seeking certifications aligned with specific job roles, increasing the need for industry-aligned upskilling content
- The adoption of blockchain credentials in education and training has increased by over 70% since 2020, providing verifiable proof of skills and reskilling achievements
- 65% of learners prefer gamified learning platforms for upskilling, which enhances engagement and retention
- Companies investing in reskilling report a 33% increase in employee retention, highlighting the link between internal growth opportunities and loyalty
- 55% of higher education institutions plan to expand online and hybrid learning offerings to accommodate upskilling needs
- The global demand for data analysis and data science skills has doubled since 2018, indicating the emphasis on data literacy in upskilling programs
- 80% of HR professionals agree that upskilling programs are crucial for organizational agility in a rapidly changing digital landscape
- 73% of organizations incorporate social learning techniques into their upskilling initiatives, leveraging peer-to-peer knowledge sharing
- The adoption rate of mobile learning platforms for upskilling increased by 130% from 2019 to 2022, facilitating learning on the go
- 80% of companies report that their upskilling efforts directly contributed to improved business performance, such as increased revenue or customer satisfaction
- Investment in reskilling initiatives among small and medium enterprises increased by 35% in 2022, showing a growing recognition of its importance outside large corporations
- 65% of adult learners prefer self-paced learning modules, which allow flexibility for upskilling alongside other commitments
- The global investment in AI training tools for upskilling is projected to reach $2.5 billion by 2025, highlighting the growing role of AI in education
Workforce Reskilling and Upskilling Interpretation
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