by The Australia training market provides a wide range of training and skills development services across industries including software training, compliance training, soft skills and leadership training, technical and vocational training, and online/digital training. Training services in Australia aims to equip individuals and organizations with the necessary skills and expertise required to meet the dynamic needs of the workforce.
Australia Training Market is estimated to be valued at US$ 1.39 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Australia training market are 360training.com, Inc, Cornerstone on Demand, DuPont Sustainable Solutions, Euro Petroleum Consultants Ltd ,Global Training Solutions, Inc. Key players are focusing on developing customized training solutions to address unique skills requirements of organizations.
The growing skills shortage across industries such as IT, engineering, healthcare is driving increased demand for training services in Australia. Various surveys indicate that over 70% of Australian companies face difficulties finding skilled workforce. This has prompted more companies to invest in training existing and potential employees.
Major global training companies are exploring opportunities to expand into the Australian market owing to increasing demand. Several players are partnering with Australian educational institutes and companies to deliver online, classroom, and blended training programs. This is expected to make Australia a strategic location for global training companies.
Market Key Trends
One of the key trends in the Australia training market is the rise of online and blended learning models. With growing digitalization and flexibility needs of modern learners, the demand for eLearning, mobile learning and virtual classrooms is increasing. Several training companies are leveraging technologies like AR/VR, AI and analytics to provide immersive and personalized online training experiences. This trend is expected to significantly drive the growth of Australia’s training market over the next few years.
Porter’s Analysis
Threat of new entrants: The market require large amount of initial investment to set up infrastructure facilities like online training platforms and technology required for training delivery. The dominance of established players make it difficult for new players to enter the market.
Bargaining power of buyers: The bargaining power of buyers is medium in this market as there are many established players providing similar training programs. However, buyers can negotiate on pricing and packages.
Bargaining power of suppliers: Suppliers like training content developers and freelance trainers have low bargaining power in this market due to presence of many buyers.
Threat of new substitutes: Threat from substitutes is moderate as online training programs can be replaced with traditional classroom training. However, online trainings provide flexibility and are comparatively cheaper.
Competitive rivalry: The market is highly competitive with presence of many domestic and global players. Players compete based on pricing, variety of courses, quality of content and trainers.
Geographical regions: Around 53% of the market revenue is concentrated in New South Wales, Victoria and Queensland region due to presence of major cities like Sydney, Melbourne, Brisbane etc.
The Asia Pacific region is expected to be the fastest growing geographical segment during the forecast period due to increasing focus of Australian companies on emerging economies in Asia and growing adoption of online training solutions.
What Are The Key Data Covered In This Australia Training Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Australia Training ‘s growth between 2024 and 2031.
:- Accurate calculation of the size of the Australia Training and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Australia Training Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Australia Training vendors
FAQ’s
Q.1 What are the main factors influencing the Australia Training?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Australia Training companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Australia Training’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
