Digital Transformation Workforce - Market
Experts predict that spending on digital transformation initiatives will reach over $2 trillion by 2020. AVADO is a major player in the digital learning space, and it has globally delivered training programs to over 200,000 individuals and 2,000 businesses. However, even after exhaustive research in the public domain, information about the market size of the digital transformation workforce training/coaching industry in the US could not be located. Data points that can be used to calculate the requested information are also not available. Below are some relevant findings.
Digital Transformation Workforce Market
- Experts predict that spending on digital transformation initiatives will reach over $2 trillion by 2020.
- One of the digital transformation initiatives is training & development.
- According to Niall McKinney, president AVADO, an edtech company operating in the digital transformation workforce training/coaching space, "The market for digital skills in the US is very, very large and growing quickly."
- The gap in digital skills cost "$1 trillion a year in lost productivity to the US economy."
Digital Transformation Market
- Based on business functions, the digital transformation market is divided into four segments: customer transformation, workforce transformation, operational transformation, and product transformation.
- In 2018, the global market size of digital transformation was $290 billion, and it is expected to grow at a CAGR of 18.1% until 2022.
- The market is expected to reach $665 billion by 2023.
- AVADO is an edtech company operating in the digital transformation workforce training/coaching space.
- Niall McKinney is the president of the company.
- AVADO has recently expanded its business in digital transformation and leadership training into the US market.
- AVADO is a major player in the digital learning space and has globally delivered training programs to over 200,000 individuals and 2,000 businesses.
- Some of its corporate clients include the Estée Lauder Companies, the Walt Disney Company, American Express, Omnicom, and GSK.
To find the size of the digital transformation workforce training/coaching market in the U.S., we initially searched for precompiled data through market research reports, media articles, credible blogs, and press releases. Unfortunately, this strategy was not successful in providing the requested statistics; however, we were able to learn about one of the companies in the digital transformation training space, AVADO. The company has recently launched its digital transformation training business in the US market. Articles about AVADO provided some insights about the digital transformation training market, but no information could be found for its market size.
Our next strategy was to look for the global data of the digital transformation workforce training/coaching market. The idea was to broaden the research scope in the absence of US data. However, global data about the market was also unavailable. What we found was the market size of the digital transformation market and digital workplace market. We added these statistics as relevant findings above.
Lastly, we decided to provide an alternative data in the absence of direct data of the market size of the digital transformation workforce training/coaching market. The initial research indicated AVADO as a major player in the digital transformation training space, so we decided to look for the market share of AVADO in the industry. The idea was then to find the company revenue to further triangulate the market size of the whole market. While searching through various research reports, survey reports, press releases, media articles, and company websites among others, we found that AVADO has "delivered training programs to more than 200,000 individuals and 2,000 businesses globally." We also found AVADO's completion rate as compared to the industry average and how the company provides training for the digital transformation of business leaders and senior staff, among other information. However, none of the sources could reveal the market share of AVADO in the digital transformation workforce training/coaching market.
Therefore, based on the above-mentioned strategies, we have learned that none of the research companies have yet conducted any research on the digital transformation workforce training/coaching market. This could be because it is a niche market. However, some of the articles have mentioned some insight into the workforce training for digital transformation, which we have included as helpful findings above.