South America Corporate Training Market Report 2024 Including - Technical Training Soft Skills Train...
South America Corporate Training Market Report 2024 Including - Technical Training Soft Skills Train...
1. Table Of Contents
1. Table Of Contents ........................................................................................................................................ 2
3. List Of Figures............................................................................................................................................. 5
Summary ............................................................................................................................................ 15
Market Overview ............................................................................................................................ 16
Region Information ..................................................................................................................... 16
Market Information ........................................................................................................................ 16
Background Information ............................................................................................................. 16
Government Initiatives ................................................................................................................... 17
Regulations ................................................................................................................................. 18
Regulatory Bodies .......................................................................................................................... 20
Major Associations ..................................................................................................................... 20
Taxes Levied ............................................................................................................................... 20
Corporate Tax Structure .............................................................................................................. 20
Investments ................................................................................................................................. 21
Major Companies........................................................................................................................ 21
South America Corporate Training Market, Segmentation By Training Programs, Historic And
Forecast, 2018 – 2023, 2028F, 2033F, Value ($ Million).............................................................................. 22
South America Corporate Training Market, Segmentation By Training Methods, Historic And
Forecast, 2018 – 2023, 2028F, 2033F, Value ($ Million).............................................................................. 25
South America Corporate Training Market, Segmentation By Industries, Historic And Forecast,
2018 – 2023, 2028F, 2033F, Value ($ Million) ............................................................................................. 27
7. Appendix ................................................................................................................................................... 29
2. List Of Tables
Table 1: South America GDP Per Capita, By Country, 2018-2023, $ .............................................................. 16
Table 2: South America Population, By Country, 2018-2028, Millions .......................................................... 17
Table 3: South America Corporate Training Market, Segmentation By Training Programs, Historic And
Forecast, 2018 – 2023, 2028F, 2033F, $ Million....................................................................................... 23
Table 4: South America Corporate Training Market, Segmentation By Training Methods, Historic And
Forecast, 2018 – 2023, 2028F, 2033F, $ Million....................................................................................... 25
Table 5: South America Corporate Training Market, Segmentation By Industries, Historic And Forecast, 2018
– 2023, 2028F, 2033F, $ Million ............................................................................................................... 28
Table 6: Corporate Training Market Data Sources ........................................................................................... 31
3. List Of Figures
Figure 1: Global Corporate Training Market Segmentation By Training Programs .......................................... 8
Figure 2: Global Corporate Training Market Segmentation By Training Methods.......................................... 10
Figure 3: Global Corporate Training Market Segmentation By Industries ...................................................... 11
Figure 4: South America Corporate Training Market, Segmentation By Training Programs, Historic And
Forecast, 2018 – 2023, 2028F, 2033F, $ Million....................................................................................... 22
Figure 5: South America Corporate Training Market, Segmentation By Training Methods, Historic And
Forecast, 2018 – 2023, 2028F, 2033F, $ Million....................................................................................... 25
Figure 6: South America Corporate Training Market, Segmentation By Industries, Historic And Forecast,
2018 – 2023, 2028F, 2033F, $ Million ...................................................................................................... 27
Figure 7: Geographic Regions Covered ........................................................................................................... 29
4. Market Characteristics
General Market Definition
The market by value in this report is defined as the revenues that enterprises gain from goods and/or services sold
within the specified market and geography.
• The market value includes the value of related goods sold by the service provider or included within the service
offering. Only goods and services traded between entities or sold to end consumers are included.
The revenues for a specified geography are consumption values – that is, they are revenues generated by
organizations in the specified geography within the specified market, irrespective of where they are produced.
• It does not include revenues from resales either further along the supply chain or as part of other products.
• Value is defined as revenues generated from goods or services in a given geographic market through sales,
grants or donations in terms of currency (in USD ($) unless otherwise specified).
• Only goods and services traded between entities or sold to end consumers are included.
Summary
Segmentation By Industries
Market Share
Corporate training refers to the organized process of enhancing employees' skills, knowledge and competencies to
improve job performance and meet company objectives in a corporate organization. It involves structured learning
activities, workshops and programs designed to develop specific job-related skills, foster professional growth and
align individuals with the company's goals. Corporate training aims to ensure a skilled and capable workforce, leading
to increased productivity and overall organizational success.i
The corporate training market consists of sales, by entities (organizations, sole traders and partnerships), of corporate
training services that are aimed at enhancing the skills and knowledge of employees within organizations.
The market caters to diverse industries and sectors, addressing the evolving needs of companies to maintain a skilled
and adaptable workforce.
Corporate training programs are designed to address the specific needs and objectives of the company and its
employees. These programs can take various forms, such as in-person workshops, online courses, seminars, webinars,
on-the-job training, mentoring, coaching and even simulations.
Training employees in an organization offers numerous benefits, including improved cost-efficiency by reducing the
need to hire new employees and saving on recruitment and onboarding costs. It also increases morale and motivation,
as employees feel valued and more committed to their work. Organizations that invest in training experience higher
employee retention rates, which further contributes to cost savings and stability. Additionally, training enhances
decision-making skills and cultivates leadership qualities, leading to more efficient operations and increased revenue.
Furthermore, training helps identify and eliminate employees' gaps and weaknesses, allowing them to learn from each
other's strengths and improve overall performance.ii
The market covered in this report includes corporate training program services such as technical training, soft skills
training, quality training, compliance training and other training programs. It also includes corporate training provided
using training methods such as virtual and face-to-face. Finally, the market includes corporate training services used
by industries such as healthcare, banking and finance, manufacturing, IT (information technology), retail, hospitality
and other industries.
The market covered in this report does not include revenues generated by entities through activities such as academic
education, HR professional services, workplace services and proactive services.
The corporate training market is segmented by training programs into technical training, soft skills training, quality
training, compliance training and other training programs.
Technical Training
A technical training program in a corporate is a structured program designed to equip employees with specialized
skills, knowledge and expertise required to effectively navigate and excel within the technical dimensions of their roles
in the corporate environment.iii The technical training market consists of sales of technical training programs to
corporates to enhance their employees’ skills.
Quality Training
Quality training in a corporate involves educating employees about industry-specific quality standards, procedures
and best practices, to ensure consistent delivery of high-quality products or services, while adhering to organizational
goals.v The quality training market consists of sales of quality training programs to corporates to enhance their
employees’ skills.
Compliance Training
Compliance training in a corporate refers to the educational efforts aimed at familiarizing employees with relevant
laws, regulations and internal policies, to ensure their adherence, mitigate risks and maintain ethical conduct within
the organization's operations.vi The compliance training market consists of sales of compliance training programs to
corporates to enhance their employees’ skills.
The corporate training market is segmented by training methods into virtual and face-to-face.
Virtual
The virtual market consists of sales of corporate training services that include the use of online platforms and
technologies to virtually deliver educational and skill-building programs to employees within a company, enabling
remote learning and development opportunities. These methods aim to enhance workforce knowledge, performance
and professional growth through digital means, such as video conferencing, instant messaging, presentation slides,
simulations and more.viii
Face-To-Face
The face-to-face market consists of sales of corporate training services that involve in-person instructional sessions
delivered within a physical setting, fostering direct interaction between trainers and employees to impart knowledge
and develop skills for professional advancement.ix
The corporate training market is segmented by industries into healthcare, banking and finance, manufacturing, IT
(information technology), retail, hospitality and other industries.
Healthcare
Corporate training for the healthcare industry encompasses specialized educational programs designed to enhance
the skills and knowledge of medical professionals and staff, ensuring up-to-date practices, regulatory compliance and
quality patient care within the dynamic healthcare landscape.x The healthcare market consists of sales of corporate
training services that are used by the healthcare industry.
Manufacturing
Corporate training for the manufacturing industry entails structured programs aimed at upskilling workers in
production processes, safety protocols and technological advancements, optimizing operational efficiency and
product quality within the manufacturing sector.xii The manufacturing market consists of sales of corporate training
services that are used by the manufacturing industry.
IT (Information Technology)
IT refers to the application of computers, storage, networking and other physical equipment, infrastructure and
procedures, to generate, process, store, protect and share all types of electronic data.xiii Corporate training for the IT
industry encompasses focused educational efforts to enhance the technical skills and knowledge of professionals,
enabling them to adapt to evolving technologies, develop software solutions and effectively manage IT infrastructure
within diverse business environments.xiv The IT market consists of sales of corporate training services that are used by
the IT industry.
Retail
Retail refers to the sale of goods in small quantities to the consumer directly from a single location (malls, markets,
department stores etc.) for his or her intended use.xv Corporate training for the retail industry involves targeted
learning endeavors, designed to improve customer service skills, product knowledge and sales techniques of
employees, ultimately enhancing the overall shopping experience and driving business success in the retail sector. xvi
The retail market consists of sales of corporate training services that are used by the retail industry.
Hospitality
Hospitality refers to a wide range of businesses that make up the travel and hospitality sector, including tour operators,
travel consolidators, tourist boards, airlines, cruise lines, railroads, private transportation providers, car rental services,
hotels, resorts, lodging, restaurants and other consumer businesses, with a focus on real estate.xvii Corporate training
for the hospitality industry encompasses strategic learning initiatives to refine customer service, hospitality
management and interpersonal skills of staff, ensuring exceptional guest experiences and efficient operations within
hotels, restaurants and related sectors.xviii The hospitality market consists of sales of corporate training services that
are used by the hospitality industry.
Other Industries
The other industries market consists of sales of corporate training services that are used by other industries such as
telecommunications, aerospace and aviation, automotive, transportation and logistics, legal services, energy,
management consulting and professional services.
Technical Training
The technical training segment constitutes 46.8% of the South
America corporate training market. The market grew from
$4,879.4 million in 2018 to $6,651.3 million in 2023 at a
compound annual growth rate (CAGR) of 6.4%. The market is
expected to grow to $8,780.6 million in 2028 at a compound
Market Summary annual growth rate (CAGR) of 5.7%.
Market Overview
This market overview describes and analyzes the region/country and market information, background information
covering GDP per capita and population; government initiatives, regulations, regulatory bodies, major associations,
taxes levied, corporate tax structure, investments and major companies in the South America corporate training
market.
Region Information
South America’s total GDP was $6.66 trillion in 2024, accounting for 5.88% of $113.27 trillion global GDP, according to
the IMF.xxv South America had a population of around 514.78 million in 2024.xxvi Major countries in South America
include Argentina, Brazil, Chile, Colombia and Peru.
Market Information
South America was the fourth largest region in the corporate training market and was worth $14,223.4 million in 2023.
The market accounted for 0.30% of the region's GDP. In terms of per capita consumption, the market accounted for
$27.81, $20.87 lower than the global average.
The corporate training market in South America is supported by the significant demand for mobile-based learning and
significant rise in internet penetration. For example, according to Kepios, a strategy consultancy, the internet users in
Colombia increased by 164 thousand (+0.4 %) between January 2023 and January 2024.xxvii
Background Information
GDP Per Capita
Growth in GDP per capita in South America has a positive impact on the corporate training market in that geography.
The table below shows the per capita GDP of the major countries in South America during 2018-2023.
Population
Growth in the size of the population in South America has a positive impact on the corporate training market in that
geography.
The table below shows the population in the major countries in South America during 2018-2028, in millions.
Argentina 44.50 44.94 45.39 45.84 46.30 46.76 49.15 1.00% 1.00%
Brazil 199.07 200.05 200.98 202.02 203.06 204.25 209.71 0.51% 0.53%
Chile 18.75 19.11 19.46 19.68 19.83 19.96 20.54 1.26% 0.57%
Colombia 48.26 49.40 50.37 51.05 51.61 52.16 54.78 1.57% 0.99%
Peru 32.16 33.16 33.49 33.83 34.17 34.51 36.27 1.42% 1.00%
The Business Research Company
Sources: IMFxxix,TBRC Secondary, TBRC Estimates, TBRC Analysis
Government Initiatives
Argentina
In April 2023, the Argentine government launched the large-scale "Argentina Programa 4.0" initiative, providing free
coding, testing and digital skills training, along with job placements in software companies. So far, over 210,000
students have enrolled. Non-profit organizations like Puerta 18 and Potrero Digital offer free coding, programming
and IT courses to young people from low-income backgrounds, with around 90% of graduates finding jobs in the tech
industry. These programs aim to provide access to technology and training to underserved communities that may lack
high-quality internet or computers at home.xxx
Brazil
In January 2022, the next generation of UNCTAD Empretec training arrived, with a new pilot project in Brazil that has
reshaped how the program delivers its entrepreneurship training amid the COVID-19 pandemic and in a digitally
transformed world.xxxi
In May 2022, Leading for Development Program, developed by the Brazilian National School of Public Administration
(ENAP), aimed to provide support and capacity building to new mayors in local government. The program focuses on
areas like management, leadership, urban planning, digital transformation and climate change.xxxii
In 2021, PwC Brazil's Access Your Potential (AYP) program aims to upskill young people aged 16-26, preparing them
for the workforce by providing a digitally inclusive platform. The initiative runs twice a year, with 250 young mentees
being mentored by 250 PwC Brazil volunteers over eight weeks. The program focuses on developing digital skills,
including technological solutions, leadership, design thinking and data analysis, through online training and nano
courses.xxxiii
In December 2021, Empretec Brazil, a United Nations Conference on Trade and Development (UNCTAD) program,
delivered its first hybrid entrepreneurship training workshop using online tools, in partnership with the Brazilian Micro
and Small Enterprises' Support Agency (SEBRAE).xxxiv
In March 2021, the World Economic Forum organized the first Brazil Skills Accelerator Initiative co-chair meeting, with
support from the Brazilian government's Secretariat of Productivity, Employment and Competitiveness and the
Ministry of the Economy. In order to reach 8 million Brazilian workers through national training programs, the
accelerator will create a system analysis and action plan.xxxv
Colombia
In March 2022, the DS4A / Colombia program was an innovative job readiness initiative launched by the Colombian
government in partnership with Correlation One, a leading data science education provider. The program aims to train
and develop the country's emerging data and AI talent to help position Colombia as a tech hub in Latin America.xxxvi
Regulations
Argentina
In May 2024, the obligation for certain companies to comply with certain requirements related to gender diversity in
the composition of their administrative and supervisory bodies was repealed.xxxvii
Argentina ratified the ILO Convention No. 190, aiming to prevent violence and harassment in the workplace. The
Ministry of Labor created the Qualitas 190 Program to develop training that prevents and addresses violence and
harassment in the workplace. The Federal Forum for the Eradication of Violence and Harassment in the world of work
was established to promote tripartite dialogue and enrich strategies to prevent and address violence and harassment
in the workplace.xxxviii
Brazil
Distance education and corporate training in Brazil are heavily regulated, with all aspects of the publicly-funded
educational system being excessively regulated, highly bureaucratic and tightly centralized.xxxix
The main set of regulations governing corporate training and occupational health and safety in Brazil is the Regulatory
Standards (NR), which were introduced by Ordinance No. 3214 in 1978 and have been expanded over time.xl
The Regulatory Standards (NR) outline guidelines and responsibilities for employers and workers, with the main
objective of preventing accidents and occupational diseases in the workplace.xli
In September 2021, standard hours were set out by Brazilian employment law. According to employment law in Brazil,
a standard working day is eight hours long, while a working week should be no longer 44 hours, with a working month
total of 220 hours. Overtime hours are allowed; however, they should be limited to two hours per day. There are 12
national holidays in Brazil over the course of a calendar year, while the country’s 26 states have a number of their own
holidays.xlii
According to the Brazilian Labor Code, employers must train their staff members, to make sure they have the ability
to do the jobs they are assigned. Brazil's Apprenticeship Law mandates the hiring of apprentices, who must undergo
vocational training, for businesses with more than seven employees. The Technical and Vocational Education National
Council (CONET) In Brazil, CONET is in charge of corporate vocational education and training. For designated training
occupations, it publishes training requirements.xliii
Chile
In January 2023, Chile had a semi-flexible labor relationship system, with employment contracts required to comply
with minimum regulations on working hours, remuneration and other aspects. However, there are various forms of
contracting that allow the labor relationship to be adapted to the economic sector.xliv
In June 2020, Regarding training policies in Chile, there are elements such as certification of skills, training subsidies,
retraining programs and public-private alliances.xlv
In November 2023, The Labor Inclusion Law also requires companies to designate an "Inclusion Manager" responsible
for promoting labor inclusion within the organization. Companies must report annually on their compliance with hiring
persons with disabilities or recipients of disability pensions.xlvi
Entrepreneurs and global firms follow the below common strategies to comply with the Chilean Labor Act rules for
hiring and managing employees.
• Hiring a dedicated HR manager looks after aspects like employee recruitment, development, training,
employee benefits and more.
• The HR manager can also oversee appraisals, reward management, manage payments and deal with
organizational changes and industrial relations.xlvii
Colombia
In February 2023, Employers with more than five employees in commercial companies or more than ten employees in
other companies are required to have an employee handbook.xlviii
In August 2022, The Labor Code is the primary legislation governing employment relationships in Colombia. It covers
various aspects, including employment contracts, working hours, minimum wage, annual leave, termination
procedures, employee benefits and protection against unfair dismissal.xlix
Peru
Peru's main health and safety legislation is the Law on Occupational Health and Safety (Law No. 29783), introduced
in 2011. This law establishes the core standards and requirements for occupational safety and health.l
Employers are required to develop and implement comprehensive health and safety policies and programs, including
identifying hazards, assessing risks and implementing control measures. The Superintendence of National Labor
Inspection (SUNAFIL) is the main regulatory body charged with enforcing Peru's labor laws, including those about
health and safety.li
Peru's Occupational Health and Safety (OHS) framework emphasizes a continuous improvement approach to safety
and health. Employers are required to engage in a cycle of planning, implementation, evaluation and improvement to
continually enhance their safety performance.lii
Regulatory Bodies
Ministry of Education (Ministério da Educação) liii, National Institute of Technological Education (Instituto Nacional de
Educación Tecnológica - INET)liv, Ministry of Education (Ministério da Educação - MEC)lv, National Industrial Training
Service (Serviço Nacional de Aprendizagem Industrial - SENAI)lvi, Ministry of Education (Ministerio de Educación -
MINEDUC)lvii, National Training and Employment Service (Servicio Nacional de Capacitación y Empleo - SENCE)lviii,
Ministry of National Education (Ministerio de Educación Nacional - MEN)lix, National Training Service (Servicio
Nacional de Aprendizaje - SENA)lx, Ministry of Education (Ministerio de Educación - MINEDU)lxi and the Society for
Human Resource Management (SHRM)lxii are the major regulatory bodies governing the corporate training market in
South America.
Major Associations
Brazilian Association of Training and Development (Associação Brasileira de Treinamento e Desenvolvimento -
ABTD)lxiii, Asociación Argentina de Capacitación y Desarrollo (AACD)lxiv, Cámara Argentina de la Mediana Empresa
(CAME)lxv, Instituto Argentino de Capacitación Profesional y Tecnológica para el Comercio (INACAP)lxvi, Confederação
Nacional da Indústria (CNI)lxvii, Corporación de Fomento de la Producción (CORFO)lxviii, Asociación Nacional de
Empresarios de Colombia (ANDI)lxix, Asociación Peruana de Recursos Humanos (APERHU)lxx and Cámara de Comercio
de Lima (CCL)lxxi are the major associations representing the corporate training market in South America.
Taxes Levied
Argentina levies 21% standard VAT on goods and services.lxxii
Peru levies 18% tax (consisting of 16% VAT plus 2% municipal promotion tax) on goods and services.lxxvi
In Brazil, 34% corporate tax (composed of IRPJ (Imposto de Renda da Pessoa Jurdica, a federal tax in Brazil that is
levied on the income of legal entities, including corporations, partnerships and other types of business entities) at the
rate of 25% and CSLL (Contribuiço Social sobre o Lucro Lquido, a federal tax in Brazil that is levied on the net profit of
legal entities) at the rate of 9%) is levied on all companies operating in the country.lxxviii
In Chile, the corporate tax rate is 27% (except for SMEs). A reduced 25% rate applies for SMEs having an average annual
revenue of up to UF 75,000 in the previous three years, without restriction on the tax credit for distributions.lxxix
In Colombia, 35% corporate tax is levied on all companies operating in the country. Companies that are national (i.e.,
those that were created in Colombia in accordance with Colombian law) must pay taxes on their worldwide profits.
Foreign non-residents are taxed on their Colombian-source income only.lxxx
In Peru, 29.5% corporate tax is levied on all companies operating in the country.lxxxi
Investments
Colombia
In January 2022, UBITS, a Colombia-based corporate training startup, raised $25 million in a Series B funding round led
by Riverwood Capital. The funding also included participation from Owl Ventures, Endeavor Catalyst, Roble Ventures,
Salkantay and Amador Holdings. This round of funding will be used to expand UBITS' operations to Spain and the
Spanish-speaking population in the U.S., as well as to build over 2,000 additional courses and launch a live tutors
program.lxxxii
In May 2023, Globant, an Argentina-based technology services company that focuses on software development,
digital transformation and innovation, announced the relaunch of its "Code Your Future: Build Peace" program. This
initiative provides free technology training and job placement opportunities exclusively for victims of the internal
armed conflict in Colombia. The scholarships cover training in various technology fields, including Design,
Programming, Business, Digital Entrepreneurship and Software Quality. lxxxiii
Peru
In October 2022, the United Nations Educational, Scientific and Cultural Organization (UNESCO), a US-based United
Nations (UN) specialized agency, launched the Global Skills Academy, offering free and high-quality online trainings
from members of the Global Education Coalition. A new initiative by UNESCO’s Global Skills Academy (GSA) will
provide more than 100,000 young people across Peru with access to training in key employability skills, thanks to a
collaboration between Fundación Telefónica, a Spain based culture and technology center and a partner of the GSA
and Servicio Nacional de Adiestramiento en Trabajo Industrial (SENATI), a PERU-based institute that provides
professional education and training for industrial activity.lxxxiv
Major Companies
FGV (Fundação Getulio Vargas)lxxxv, Insperlxxxvi, UBITSlxxxvii, Saint Paul Escola de Negócioslxxxviii, ISAE Escola de
Negócioslxxxix, Fundação Instituto de Administração (FIA)xc, Unisinosxci, Universidad de San Andrésxcii and Pontificia
Universidad Católica de Chile (PUC)xciii are some of the major companies in the corporate training market in South
America.
Figure 4: South America Corporate Training Market, Segmentation By Training Programs, Historic And Forecast, 2018
– 2023, 2028F, 2033F, $ Million
Table 3: South America Corporate Training Market, Segmentation By Training Programs, Historic And Forecast, 2018 –
2023, 2028F, 2033F, $ Million
Year CAGR
Market 2018 2020 2021 2023 2024 2028 2033 18-23 23-28 28-33
Technical 4,879.4 5,273.7 5,990.0 6,651.3 6,997.1 8,780.6 11,987.8 6.4% 5.7% 6.4%
Training
Quality 4,295.0 3,866.8 4,013.3 4,341.2 4,537.8 5,547.7 7,327.3 0.2% 5.0% 5.7%
Training
Soft Skills 1,582.0 1,664.2 1,773.8 2,025.0 2,195.5 3,206.3 5,500.8 5.1% 9.6% 11.4%
Training
Compliance 851.1 824.0 853.1 916.8 954.3 1,148.8 1,490.3 1.5% 4.6% 5.3%
Training
Other 269.4 265.9 272.7 289.3 299.0 348.5 431.5 1.4% 3.8% 4.4%
Training
Programs
Corporate 11,876.8 11,894.6 12,902.9 14,223.4 14,983.7 19,031.8 26,737.7 3.7% 6.0% 7.0%
Training
The Business Research Company
Sources: National Statistics Offices, UN Comtrade, TBRC Analysis, TBRC Estimates, TBRC Secondary
The technical training market was the largest segment in the South America corporate training market. The market
grew from $4,879.4 million in 2018 to $6,651.3 million in 2023 at a compound annual growth rate (CAGR) of 6.4%. The
market is expected to grow to $8,780.6 million in 2028 at a compound annual growth rate (CAGR) of 5.7%, and to
$11,987.8 million in 2033 at a compound annual growth rate of 6.4%.
The quality training market was the second largest segment in the South America corporate training market. The
market grew from $4,295.0 million in 2018 to $4,341.2 million in 2023 at a compound annual growth rate (CAGR) of
0.2%. The market is expected to grow to $5,547.7 million in 2028 at a compound annual growth rate (CAGR) of 5.0%,
and to $7,327.3 million in 2033 at a compound annual growth rate of 5.7%.
The other training programs market was the smallest segment in the South America corporate training market. The
market grew from $269.4 million in 2018 to $289.3 million in 2023 at a compound annual growth rate (CAGR) of 1.4%.
The market is expected to grow to $348.5 million in 2028 at a compound annual growth rate (CAGR) of 3.8%, and to
$431.5 million in 2033 at a compound annual growth rate of 4.4%.
The South America corporate training market grew from $11,876.8 million in 2018 to $14,223.4 million in 2023 at a
compound annual growth rate (CAGR) of 3.7%. The steady growth in the historic period can be attributed to the
increased demand for soft skills and increased investments in the region. For example, in October 2022, UNESCO
(United Nations Educational, Scientific and Cultural Organization), a United Nations (UN)-based specialized agency,
launched the Global Skills Academy, offering free and high-quality online trainings from members of the Global
Education Coalition. A new initiative by UNESCO’s Global Skills Academy (GSA) will provide more than 100,000 young
people across Peru, with access to training in key employability skills.xciv
The market is expected to grow to $19,031.8 million in 2028 at a compound annual growth rate (CAGR) of 6.0%, and
to $26,737.7 million in 2033 at a compound annual growth rate of 7.0%. The strong growth in the forecast period can
be attributed to the increasing penetration of digital platforms, increasing investments by online educational
institutions and growing popularity for the internet of things (IoT) and wearable devices. xcv
Figure 5: South America Corporate Training Market, Segmentation By Training Methods, Historic And Forecast, 2018 –
2023, 2028F, 2033F, $ Million
Table 4: South America Corporate Training Market, Segmentation By Training Methods, Historic And Forecast, 2018 –
2023, 2028F, 2033F, $ Million
Year CAGR
Market 2018 2020 2021 2023 2024 2028 2033 18-23 23-28 28-33
Virtual 4,013.1 6,192.1 7,607.2 8,428.8 8,854.2 11,037.2 14,993.0 16.0% 5.5% 6.3%
Face-To- 7,863.7 5,702.5 5,295.7 5,794.6 6,129.5 7,994.6 11,744.7 -5.9% 6.6% 8.0%
Face
Corporate 11,876.8 11,894.6 12,902.9 14,223.4 14,983.7 19,031.8 26,737.7 3.7% 6.0% 7.0%
Training
The virtual market grew from $4,013.1 million in 2018 to $8,428.8 million in 2023 at a compound annual growth rate
(CAGR) of 16.0%. The market is expected to grow to $11,037.2 million in 2028 at a compound annual growth rate
(CAGR) of 5.5%, and to $14,993.0 million in 2033 at a compound annual growth rate of 6.3%.
The face-to-face market declined from $7,863.7 million in 2018 to $5,794.6 million in 2023 at a compound annual
growth rate (CAGR) of -5.9%. The market is expected to grow to $7,994.6 million in 2028 at a compound annual growth
rate (CAGR) of 6.6%, and to $11,744.7 million in 2033 at a compound annual growth rate of 8.0%.
The South America corporate training market grew from $11,876.8 million in 2018 to $14,223.4 million in 2023 at a
compound annual growth rate (CAGR) of 3.7%. The market is expected to grow to $19,031.8 million in 2028 at a
compound annual growth rate (CAGR) of 6.0%, and to $26,737.7 million in 2033 at a compound annual growth rate of
7.0%.
Figure 6: South America Corporate Training Market, Segmentation By Industries, Historic And Forecast, 2018 – 2023,
2028F, 2033F, $ Million
Table 5: South America Corporate Training Market, Segmentation By Industries, Historic And Forecast, 2018 – 2023,
2028F, 2033F, $ Million
Year CAGR
Market 2018 2020 2021 2023 2024 2028 2033 18-23 23-28 28-33
IT (information 2,396.8 2,567.2 3,060.3 3,417.2 3,627.3 4,816.2 7,268.9 7.4% 7.1% 8.6%
technology)
Banking And 2,160.1 2,241.3 2,355.8 2,591.4 2,725.8 3,430.5 4,740.1 3.7% 5.8% 6.7%
Finance
Healthcare 1,757.3 1,842.0 2,047.4 2,245.2 2,358.4 2,947.9 4,032.0 5.0% 5.6% 6.5%
Manufacturing 2,011.9 1,865.4 1,915.6 2,093.2 2,194.7 2,716.6 3,659.1 0.8% 5.4% 6.1%
Other 1,578.2 1,461.3 1,524.2 1,671.7 1,754.8 2,180.4 2,948.2 1.2% 5.5% 6.2%
Industries
Retail 1,092.2 1,122.0 1,183.8 1,312.1 1,386.4 1,778.9 2,521.1 3.7% 6.3% 7.2%
Hospitality 880.4 795.5 815.9 892.7 936.4 1,161.3 1,568.2 0.3% 5.4% 6.2%
Corporate 11,876.8 11,894.6 12,902.9 14,223.4 14,983.7 19,031.8 26,737.7 3.7% 6.0% 7.0%
Training
The IT (information technology) market was the largest segment in the South America corporate training market. The
market grew from $2,396.8 million in 2018 to $3,417.2 million in 2023 at a compound annual growth rate (CAGR) of
7.4%. The market is expected to grow to $4,816.2 million in 2028 at a compound annual growth rate (CAGR) of 7.1%,
and to $7,268.9 million in 2033 at a compound annual growth rate of 8.6%.
The banking and finance market was the second largest segment in the South America corporate training market. The
market grew from $2,160.1 million in 2018 to $2,591.4 million in 2023 at a compound annual growth rate (CAGR) of
3.7%. The market is expected to grow to $3,430.5 million in 2028 at a compound annual growth rate (CAGR) of 5.8%,
and to $4,740.1 million in 2033 at a compound annual growth rate of 6.7%.
The hospitality market was the smallest segment in the South America corporate training market. The market grew
from $880.4 million in 2018 to $892.7 million in 2023 at a compound annual growth rate (CAGR) of 0.3%. The market
is expected to grow to $1,161.3 million in 2028 at a compound annual growth rate (CAGR) of 5.4%, and to $1,568.2
million in 2033 at a compound annual growth rate of 6.2%.
The South America corporate training market grew from $11,876.8 million in 2018 to $14,223.4 million in 2023 at a
compound annual growth rate (CAGR) of 3.7%. The market is expected to grow to $19,031.8 million in 2028 at a
compound annual growth rate (CAGR) of 6.0%, and to $26,737.7 million in 2033 at a compound annual growth rate of
7.0%.
7. Appendix
Geographies Covered
This global market report covers three, five-year time frames:
The report evaluates the market across regions and the major economies within each region.
The geographic regions used for the market analysis are as follows
The regions covered in this report are as follows, with the major 16 countries highlighted
Middle East
Eastern Europe
Turkey
Russia
Africa
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3156230293.
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