E-learning saves IT training market

Despite the fact that revenues from IT training and business skills training vendors appear unlikely to match its initial predictions, IDC is confident that the long-term outlook for both markets remains strong.

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By  Matthew Southwell Published  October 7, 2002

Despite the fact that revenues from IT training and business skills training vendors appear unlikely to match its initial predictions, IDC is confident that the long-term outlook for both markets remains strong.

Key to this market growth is the increasing adoption of e-learning, which the analyst house says will achieve a 37% compound annual growth rate between 2001 and 2006 in the US market.

Furthermore, IDC is predicting that the worldwide IT education and training market will reach $28.6 billion by 2006, increasing at a compound annual growth rate of 7.1%.

“The worst is over for the worldwide IT training market and the overall value of training remains,” says Cushing Anderson, programme director of IDC’s learning services research. “However, to traverse the rocky road to come, vendors must focus on linking training efforts to business results, present an image of stability and reliability, and address issues of suitability of e-learning.”

“The corporate business skills training market has also fallen victim to the weak U.S. economy and the slower-than-expected pace of recovery,” adds Michael Brennan, manager of IDC’s corporate learning and performance research. “However, we believe growth will resume with an upturn in the economy, corporate profits, and discretionary spending.”

IDC suggests that organisations will continue to both replace and augment traditional forms of training with e-learning because its is more efficient and convenient.

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