June 12, 2024
Global Leadership Development Exercises Market

Global Leadership Development Exercises Market is Expected to be Flourished by Rising Adoption of Virtual Learning Tools

Leadership development exercises help build skills such as strategic thinking, communication, decision making, delegation, influencing skills, project management, and problem solving. These exercises are conducted in the form of games, simulations, case studies, assessments, and outdoor activities. Companies are increasingly adopting these exercises to train and develop their managers and senior-level executives. With the proliferation of virtual learning tools amid the COVID-19 pandemic, demand for online and virtual leadership development programs has risen substantially.

The global leadership development exercises market was valued at US$ 74.38 billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by CoherentMI.

Market Dynamics

Rising Adoption of Virtual Learning Tools: Due to the COVID-19 pandemic, organizations have shifted to virtual modes of training and development programs. This has boosted the adoption of online learning platforms, virtual classrooms, and simulations that provide an interactive experience without physically gathering people. The flexibility and cost-effectiveness of virtual leadership development exercises relative to in-person programs have contributed to their rising popularity.

Focus on Soft Skills Training: Companies are focusing more on soft skills training beyond technical skills to develop effective leaders. Leadership development exercises aid in enhancing skills like communication, influencing others, conflict resolution, emotional intelligence, change management, and decision making that prove valuable for managers and C-level executives. The growing importance given to soft skills is driving increased spending on such exercises.

Segment Analysis

The global leadership development exercises market is dominated by the assessment center sub-segment. Assessment centers are simulation exercises that measure how potential leaders perform in hypothetical workplace scenarios. They provide a realistic and comprehensive evaluation of leadership competencies and styles. Assessment centers use trained assessors to evaluate candidates as they complete various tasks individually and in groups. This helps organizations identify leadership strengths and development areas to target for internal promotions or new hires.

By Delivery Type

Instructor-Led Training
Blended Learning
Online Learning
Learning Games
Virtual Reality
Augmented Reality
Others

By Function

Interpersonal Skills
Communication Skills
Decision Making
Problem Solving
Negotiation Skills
Motivation
Others

By End User

Corporates
Academic Institutions
Government Organizations
Non-Profit Organizations
Others

By Enterprise Size

Large Enterprises
Small & Medium Enterprises

By Industry Vertical

BFSI
Government
Healthcare
IT & Telecom
Manufacturing
Retail & Consumer Goods
Other

PEST Analysis

Political: Governments in many countries are promoting leadership development programs to equip workers with future-oriented skills. This is driving demand.

Economic
: As economies transition to more knowledge-based models, employers recognize strong leadership is crucial for innovation and productivity. They are increasingly investing in building leadership pipelines.

Social
: Younger generations expect employers to provide learning and growth opportunities. Leadership training helps attract and retain talent in a competitive job market.

Technological
: Digital tools like simulations, videos and apps make exercises more engaging for remote and blended learning. Technologies also facilitate performance tracking and post-exercise feedback.

Key Takeaways

The Global Leadership Development Exercises Market Size is expected to witness high growth over the forecast period of 2023 to 2030, driven by organizational efforts to cultivate strategic thinkers and change agents. The global Leadership Development Exercises Market was valued at US$ 74.38 billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.

Regional Analysis shows North America currently dominating due to early adoption and a culture that emphasizes continuous self-improvement. However, Asia Pacific is emerging as the fastest growing region as developing economies prioritize nurturing future leaders.

Key Players operating in the leadership development exercises market are ATD, Dale Carnegie, Franklin Covey, GP Strategies, Harvard Business Publishing, Korn Ferry, Linkage, NLP Leadership Excellence, Pulford, Skillsoft, and Zenger Folkman. ATD and Dale Carnegie are two of the largest providers known for their extensive libraries of online and in-person courses.

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FAQ’s

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*Note:
1.       Source: CoherentMI, Public sources, Desk research
2.       We have leveraged AI tools to mine information and compile it