The Cross Cultural Training sector is predicted to grow at a compound annual growth rate of just under 15% from 2017-2021.
This growth is due to an increased need for relocation training for expats and online cultural training programmes for international teams.
Global Cross-Cultural Training Market 2017-2021, a newly published market research report from Technavio, sees a healthy future for cross-cultural training.
The statistics, market analysis and feedback from industry insiders used to compile the report all point only growth in the coming years.
Why? They see two key areas of demand as driving this forecasted growth.
1. Relocation Training for Expats
The rise in expatriate assignments is singled out as one of the primary growth factors for the sector.
Cross-cultural training programs are used for and by expatriates to help them when moving into a new country. Courses usually cover areas such as the experience of culture shock, cultural differences in working styles, social etiquette, how to get around and other topics to help people settle into their new homes.
With the globalization of commerce so important today and in the future, it is the role of the expat and the need to support them that will further drive demand for relocation-type training interventions as well as push the global mobility sector to find innovative ways to help their expatriate populations.
2. Online Training Cultural Training
Virtual, or online learning, is also identified as a growing area of demand as companies seek to support global employees but through digital interventions rather than face-to-face training.
According to the authors of the report, the virtual learning environment is increasingly preferred to traditional training as it provides opportunities for both independent and group learning.
As well as cost savings, online learning also provides flexibility and scalability. The growing number of online resources and companies offering culture-specific online learning platforms also points to the growing demand.
Who are the Top Global Cross-Cultural Training Vendors?
Commisceo Global has been identified as being in the top five 'key vendors' globally in new research.
"This industry research report identifies Babel Language and Cross-Cultural Training, Commisceo Global, Global Integration, GROVEWELL, and London School of International Communication as the key vendors in the global cross-cultural training courses market."
As well as the leading global vendors for cultural training, the report also provides a thorough overview of other players within the cross-cultural training sector, which it considers it to be "highly competitive and fragmented due to the presence of several established and new players."
The main factors upon which training vendors compete for business are identified as:
- delivery model
- customization of courses
Competition moving forward is predicted to intensify as new players, models and technologies enter the sector.
For more information on Global Cross-Cultural Training Market 2017-2021, please visit Technavio.