NEW YORK, Nov. 29, 2022 /PRNewswire/ — Technavio categorizes the global cross-cultural training market as a part of the education market, the parent market. The education market covers products, services, and solutions that are offered to educational institutions, corporate institutions, students, parents, individuals, and teachers. The global cross-cultural training market size is estimated to increase by USD 1,802.14 million from 2022 to 2027. The market’s growth momentum will accelerate at a CAGR of 7.05%.
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Global Cross-cultural Training Market – Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –
Key purchase criteria
Adoption rates
Adoption lifecycle
Drivers of price sensitivity
Global Cross-cultural Training Market – Vendor Analysis
Vendor Landscape – The global cross-cultural training market is fragmented and competitive. A few prominent vendors that offer cross-cultural training in the market are Aperian Global Inc., Babel Language Consulting, Commisceo Global Consulting, Coursera Inc., Creative Culture Ltd., Cultural Savvy (Joyce Millet & Associates), Dwellworks LLC, ELM Learning, Global Business Culture, Global Integration Inc., and others.
Factors such as technology and infrastructure are intensifying the competition in the market. There is high product differentiation among major players, which offer products at competitive prices. This, in turn, affects their profit margins. Moreover, the threat of new entrants is moderate due to factors such as moderate capital requirements.
Vendor Offerings –
Aperian Global Inc.: The company offers cross-cultural training, namely Cultural Competence.
Babel Language Consulting: The company offers cross-cultural training with Models of Culture.
Commisceo Global Consulting: The company offers cross-cultural training, namely Intercultural Working and Communication.
Coursera Inc.: The company offers cross-cultural training, such as Business English for Cross-cultural Communication, Cross-Cultural Communication, and Management.
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Global Cross-cultural Training Market – Segmentation Assessment
Geography Overview
Based on geography, the global cross-cultural training market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global cross-cultural training market.
North America held 31% of the global cross-cultural training market in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. This growth is driven by the presence of many MNCs and large organizations. Most technology giants, international banks, and insurance companies are headquartered in the US. These organizations have numerous employees from different educational and cultural backgrounds. As a result, the adoption of cross-cultural training programs is increasing.
Segment Overview
Based on deployment, the global cross-cultural training market is segmented into workshop and online.
The market share growth of the workshop segment will be higher than the other segments during the forecast period. As companies are expanding their presence across various countries, the importance of cultural awareness has increased. Cross-cultural training was introduced in the market through the workshop model. The provision of workshop training enables corporates to monitor the performance of employees. Employees can gain real-time experience, with feedback for sessions and immediate customization. These factors are driving the growth of this segment.
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Global Cross-cultural Training Market – Market Dynamics
Impactful Driver – The emergence of cost-effective e-learning training modules is driving the global cross-cultural training market growth. Organizations are increasingly adopting innovative and cost-effective ways to provide cross-cultural training to employees. They are introducing advanced solutions, technologies, systems, and courses at affordable prices. Hence, organizations with limited budgets prefer to pursue alternative e-learning solutions to train their employees.
Key Trend – The gamification of content will fuel the global cross-cultural training market growth. Gamification has become an integral part of training in business scenarios. Businesses have embraced gamification to design incentivized programs with a rising emphasis on digital badges, rewards, and leaderboards to carry out training with a mobile component. Such factors will support market growth.
Major Challenge – The high costs associated with expatriate training failure will challenge the global cross-cultural training market growth. The training of expatriate managers is expensive. The rate of failure of these employees can lead to monetary losses and talent depletion. It can also damage the reputation of companies. Moreover, negligence of crucial and unique elements related to specific learner groups can have a drastic impact on the execution of projects.
Driver, Trends, and Challenges are the factors of market dynamics that state about consequences and sustainability of businesses. Find a few insights from a free sample report!
What are the key data covered in this cross-cultural training market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the cross-cultural training market between 2023 and 2027
Precise estimation of the size of the cross-cultural training market size and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the cross-cultural training market across APAC, North America, Europe, Middle East and Africa, and South America
Thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of cross-cultural training market vendors
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Cross-cultural Training Market Scope
Report Coverage
Details
Page number
120
Base year
2022
Historic period
2017-2021
Forecast Period
2023 -2027
Growth momentum & CAGR
Accelerate at a CAGR of 7.05%
Market growth 2023-2027
USD 1,802.14 million
Market structure
Fragmented
YoY growth (%)
5.78
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing contribution
North America at 31%
Key countries
US, Canada, China, Germany, and UK
Competitive landscape
Leading Companies, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Aperian Global Inc., Babel Language Consulting, Commisceo Global Consulting, Coursera Inc., Creative Culture Ltd., Cultural Savvy (Joyce Millet & Associates), Dwellworks LLC, ELM Learning, Global Business Culture, Global Integration Inc., Global Training Partners, Learnlight Software S.L.U., Pearson Plc, PRISM International Inc., RW3 LLC, Smart Culture, The London School of English, Udemy Inc., and Wolfestone Translation Ltd.
Market dynamics
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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Table Of Contents:
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global cross-cultural training market 2017 – 2021
4.2 Type Segment Analysis 2017 – 2021
4.3 Platform Segment Analysis 2017 – 2021
4.4 Geography Segment Analysis 2017 – 2021
4.5 Country Segment Analysis 2017 – 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Deployment
6.1 Market segments
6.2 Comparison by Deployment
6.3 Workshop – Market size and forecast 2022-2027
6.4 Online – Market size and forecast 2022-2027
6.5 Market opportunity by Deployment
7 Market Segmentation by End-user
7.1 Market segments
7.2 Comparison by End-user
7.3 Large enterprise – Market size and forecast 2022-2027
7.4 Small and medium enterprise – Market size and forecast 2022-2027
7.5 Market opportunity by End-user
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 North America – Market size and forecast 2022-2027
9.4 Europe – Market size and forecast 2022-2027
9.5 APAC – Market size and forecast 2022-2027
9.6 Middle East and Africa – Market size and forecast 2022-2027
9.7 South America – Market size and forecast 2022-2027
9.8 US – Market size and forecast 2022-2027
9.9 China – Market size and forecast 2022-2027
9.10 UK – Market size and forecast 2022-2027
9.11 Germany – Market size and forecast 2022-2027
9.12 Canada – Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Aperian Global Inc.
12.4 Babel Language Consulting
12.5 Commisceo Global Consulting
12.6 Coursera Inc.
12.7 Creative Culture Ltd.
12.8 Cultural Savvy and Joyce Millet
12.9 Dwellworks LLC
12.10 ELM Learning
12.11 Global Business Culture
12.12 Global Integration Inc.
12.13 Global Training Partners
12.14 Learnlight Software S.L.U.
12.15 Pearson Plc
12.16 PRISM International Inc.
12.17 Smart Culture
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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