The worldwide market for corporate information technology education and training will increase at a compound annual growth rate of 11.2 percent to reach $39 billion by 2006, reports International Data Corp., a Framingham, Massachusetts-based research firm.
Most analysts, however, have lowered growth expectations for 2002, IDC says. Companies' overinvestment in technology prior to the burst of the dot-com bubble is adversely impacting their ability to invest in IT training, the firm notes.
"The recent economic slowdown has caused a deceleration in the outsourced corporate training market rather than a contraction," says Michael Brennan, IDC senior analyst. "Corporations need to maximize employee productivity to remain competitive as the economy expands once again. They will outsource to vendors whose training services and technologies address mission-critical processes and skill gaps."
Also on the upswing is the market for delivering IT training content using the corporate network as a medium. This e-learning sector will grow by nearly 44 percent in 2002 as more buyers view e-learning as particularly suitable for such technical subjects as application training, programming and system infrastructure training, IDC adds.
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