Summary
Explore the Vietnam Corporate Training Market valued at USD 598.2 Mn in 2022, projected to reach USD 928.3 million by 2028 with trends, demand analysis and forecast insights.
Market Overview
Vietnam Corporate Training Market Overview
The Vietnam corporate training market was valued at USD 598.2 million in 2022 and is expected to reach USD 928.3 million by 2028, growing at a CAGR of 7.6% over the forecast period. The market is driven by increasing government initiatives aimed at strengthening vocational training, along with rising demand for customized soft skills and leadership development programs across corporates. Key players operating in the Vietnam corporate training market include PACE and LHH. However, market growth is constrained by financial limitations that restrict training investments, particularly among small and medium enterprises, as well as the inefficiency of traditional classroom-based training methods in meeting evolving corporate learning needs.
Vietnam Corporate Training Market Definition
Definition of Vietnam Corporate Training: Vietnam Corporate Training Market has been defined as the sum of revenue generated by all the companies providing corporate training in Vietnam. Revenue generation from all sorts of instructor led classroom training, e-learning courses and blended learning courses have been considered. Other revenue streams of corporate training companies like workshops, recruitment services and online assessments are not taken into account. The market size includes revenue generation from all sorts of corporate training programs including technical, leadership, managerial, sales and customer management trainings. Revenue generation from Management Development Programs (MDP) has not been considered. The income generated by mediators like freelancers and consultants has also not been In-house training: In-house training includes revenue generated from all the companies in the market from trainings that are developed by the organization themselves and is conducted by an internal member. However, revenue generated from this stream has not been considered in evaluating the size of corporate training market.
Taxonomy
Vietnam Corporate Training Market Ecosystem
Vietnam Corporate Training Market Size (in value USD Mn), 2017-2022
The corporate training market in Vietnam grew from $350 million in 2017 to $598.2 million in 2022, showing an average annual growth rate of 6.4% during the period 2017–2022. Vietnam stands out as one of the fastest-growing economies in Asia, and this trend is anticipated to persist in the foreseeable future. As the economy expands, businesses are poised to increase their focus on employee training to stay competitive. The country has a large young population, which is advantageous; however, many young individuals lack the skills that businesses are seeking, creating a strong need for training programs that help bridge this skill gap. The Vietnamese government is placing greater emphasis on skill development, which is creating a favorable environment for the growth of the corporate training market. As Vietnam becomes more integrated with the global economy, the demand for a workforce equipped with globally competitive skills and knowledge is rising. The market experienced a slowdown in 2020 due to the COVID-19 pandemic, but it is expected to recover in 2021 and 2022.
Vietnam Corporate Training Industry Analysis
Vietnam Corporate Training Market Segmentation
Vietnam Corporate Training Market Segmentation by Organizational Size (in % by value in USD Mn), 2022
Large organizations with 301+ employees account for the largest share of the Vietnam corporate training market at 41.3%, followed by medium organizations with 151–300 employees at 27%, and small organizations with 10–50 employees accounting for 30% of the market. This highlights that large enterprises are the primary purchasers of corporate training in Vietnam, largely due to their greater financial and operational capacity to invest in employee development and their stronger need to stay aligned with evolving technologies and industry trends. Medium and small organizations also represent a significant portion of demand; however, they tend to focus on essential training programs such as leadership development and sales training and are more inclined to outsource their training requirements to external providers. Overall, the Vietnam corporate training market is well segmented, with each organizational size having distinct needs and priorities, requiring training providers to tailor their offerings accordingly. The small and medium segments together account for 58.7% of the market, indicating substantial growth potential within these segments, although the large enterprise segment is expanding at a faster rate and is becoming increasingly important. The outsourcing of corporate training is rising across Vietnam as companies seek cost efficiency and operational effectiveness. While large businesses, which represent only 4.0% of total enterprises, often customize training programs based on specific organizational goals, industry requirements, and employee skill gaps—thereby limiting the scope for external customization providers—small businesses, which make up 96.0% of total enterprises, largely rely on external training providers due to limited in-house expertise and resources.
Vietnam Corporate Training Market Segmentation On the basis of industry catered
The technology industry in Vietnam expanded at a strong rate of 26.9% from 2021 to 2022, leading to an increasing demand for skilled professionals in the IT sector. At the same time, the manufacturing sector continues to be a major employer in the country, with approximately 11.2 Mn people working in manufacturing in Vietnam, highlighting the sector’s significant role in employment generation and the sustained need for workforce skill development.
Vietnam Corporate Training Future Market Size
The market is expected to grow at a compound annual growth rate (CAGR) of 7.9% from 2022 to 2028, with the market valued at USD 598.2 Mn in 2022 and projected to reach USD 928.3 Mn by the end of the forecast period. A growing economy typically leads to increased investment in human capital development as businesses expand and seek to enhance the skills of their workforce. The integration of new technologies such as artificial intelligence, virtual reality, and online learning platforms is driving innovation in corporate training methods, making them more effective and efficient. The need to bridge the gap between existing skills and those required in the evolving job market is further fueling demand for training programs, as companies invest in ensuring employees are equipped for current and future roles. As Vietnam becomes increasingly integrated into the global economy, organizations are focusing on improving workforce capabilities to remain competitive on the international stage. Emerging technologies such as augmented and virtual reality, along with the recently developed Metaverse, have the potential to redefine learning by enabling virtual training rooms that enhance trainer–student interaction and provide realistic simulations for real-world experience. Companies are also prioritizing employee well-being and mental health through training programs that include workshops on stress management, resilience, work–life balance and fostering a healthy work environment. Additionally, continuous learning and upskilling are becoming essential, with corporate training programs that support lifelong learning, career development, and skill enhancement expected to remain in high demand. With increasing digitalization across industries, there is a growing need for corporate training focused on digital skills such as data analytics, artificial intelligence, cybersecurity, digital marketing, and e-commerce.
Frequently Asked Questions
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