Job Training Goes Digital
Training Expenditures 2018-2023
(In Billions of USD)
2018 2019 2020 2021 2022 2023
Evolving workforce demands create new opportunities for investments. This is particularly true for generative AI, which estimates show will impact about 25% of all occupations and create a $16 billion opportunity in reskilling for displaced workers over the next few years. EdTech emerges as a primary skill-building strategy because it is accessible and reduces cost. Vendors cater to different organizations by offering diverse product portfolios and retain contracts by offering services tailored to specific business goals. While the institute segment of corporate education is projected to experience the fastest CAPR during the forecast period, EdTech shows continued tailwinds as businesses seek comprehensive integration of digital education systems.
102
102
92
88
84
83
69
65
63
52
47
42
11
11
10
8
8
8
Total Training Expenditure
Training Staff Payroll
Spending on Outside Products & Services
Source: Trainingmag, Morgan Stanley
15
Made with FlippingBook interactive PDF creator