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NEW YORK, Jan. 14, 2022 /PRNewswire/ —
Cross-Cultural Training Market Facts at a Glance-
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According to the recent market study by Technavio, the Cross-cultural Training Market by Deployment and Geography – Forecast and Analysis 2021-2025 are expected to increase by USD 1.46 billion from 2021 to 2025, with an accelerated CAGR of 6.57%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
North America will register the highest growth rate of 31% among the other regions. The US is a key market for cross-cultural training in North America. North America has been experiencing rapid expansion and is likely to provide market suppliers with several commercial prospects during the forecast period.
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Vendor Insights-
The Cross-Cultural Training Market is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
Babel Language Consulting Ltd.- The company offers Cross-cultural training for Executive Coaching, Global Teams, Graduate Schemes, Working Across Cultures, and World-Class Customer Service.
Coursera Inc.- The company offers courses for cross-cultural through The Hong Kong University of Science and Technology.
Cross-Cultural Consulting- The company offers cross-cultural training under the category of Intercultural Training.
Find additional highlights on the vendors and their product offerings. Download Free Sample Report
Regional Market Outlook
The presence of numerous MNCs and significant organizations in North America has contributed to the expansion of the cross-cultural training sector. Microsoft, AT&T, IBM, international banks, insurance corporations, and other technology titans with global operations have their headquarters in the United States. Hundreds of people work at these companies, all with diverse educational and cultural backgrounds. As a result, there is a growing need to guarantee that all employees are technically on the same page to connect their personal goals with the companies. Companies in North America are spending a lot of money on educating personnel who work in many places. As the economies of many developing countries improve, more North American businesses are eager to grow and open offices there.
Furthermore, businesses’ development of their commercial activities into emerging economies necessitates the training of employees to ensure a smooth knowledge transfer and job transition. This results in a significant increase in the demand for cross-cultural training.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Drivers & Trends Driving the Market-
Cross-cultural training is one of a company’s most important expenses, especially if it has a presence in several locations throughout the world. The effectiveness of a company’s total productivity is largely determined by how well new employees are trained in cross-cultural viewpoints. As a result, businesses are increasingly looking for new and cost-effective ways to provide cross-cultural training to their workers. Organizations’ shift from traditional training to e-learning allows employees to save time while also retaining, updating, and storing information more effectively. As a result, providers are presenting solutions, technologies, systems, and courses to organizations eager to buy in bulk amounts to suit the needs of their staff at inexpensive pricing.
In the business world, gamification has gained a lot of popularity as a beneficial training and motivational tool. Enterprises have embraced gamification to create incentivized programs, with a growing emphasis on digital badges, rewards, and leader boards to assist businesses in engaging in mobile training. Gamification is the process of bringing the core elements of gaming to real-time business processes. Cross-cultural training is a sort of training in which companies educate their staff about different countries’ cultures. Corporates are showing a lot of interest in the area of gamification of training, thus the cross-cultural training sector is predicted to grow at a constant rate.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
Related Reports:
Game-based Learning Market in the US by Product and End-user – Forecast and Analysis 2021-2025
Education Consulting Market by Type and Geography – Forecast and Analysis 2021-2025
Cross-cultural Training Market Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth momentum & CAGR
Accelerate at a CAGR of 6.57%
Market growth 2021-2025
$ 1.46 billion
Market structure
Fragmented
YoY growth (%)
5.95
Regional analysis
North America, Europe, APAC, MEA, and South America
Performing market contribution
North America at 31%
Key consumer countries
US, UK, China, Germany, and Japan
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Babel Language Consulting Ltd., Commisceo Global Consulting Ltd., Coursera Inc., Cross Cultural Consulting, Global Integration Inc., GROVEWELL LLC, Learnlight, Pearson Plc, Udemy Inc., and Wolfestone Translation Ltd.
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for 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.
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 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.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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