From @StaffRideGuy NEWSLETTER Professional & Management Training (NAICS #61143) is a $12.7 billion market opportunity
March 20, 2013The Corporate Staff Ride is a part of the Professional and Management Training market (NAICS #61433), an estimated $12.7 billion in 2012 growing annually by 15% over the next three years, almost double the growth of overall corporate training.
One-third of companies now use some form of experiential learning program and that market is a $2.5 billion opportunity, or 20% of the total and growing at a 20% annual rate.
The Professional and Management Training market includes “establishments primarily engaged in offering an array of short duration courses and seminars for management and professional development; programs may be customized or modified to meet the special needs of customers.”
(US Census Bureau, http://www.census.gov/epcd/ec97/def/61143.HTM)
The American Society for Training and Development estimates that U.S. organizations spent $1,182 per learner on employee learning and development in 2011. Of this total direct learning expenditure, 56 percent ($87.5 billion) was spent internally. The remainder was split between tuition reimbursement, which accounted for 14 percent ($21.9 billion), and external services comprising 30 percent ($46.9 billion).