Tech Stack Training
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The document discusses the tech stack training market, highlighting that businesses are increasingly investing in technology training to optimize employee performance. Instructor-led training is the most popular form, with a growing emphasis on hands-on learning and addressing the skills gap exacerbated by rapid digital transformation. Key trends include the necessity for ongoing education due to fast-paced technological changes and the rising importance of digital risk management.
Tech Stack Training
- 1. 1 Tech Stack Training November 2021 Susan Bihler, Grady Kidder, Sidney Kanell
- 2. 2 Tech Stack Training Market Overview The Tech Stack Training market consists of any product or service that helps businesses optimize how employees manage & utilize technology to run the business • Instructor Led Training (ILT) is the most popular type of professional training (inclusive of technology training) • ILT can take place either in person or virtually • Virtual ILT is either synchronous (live video courses) or asynchronous (pre-recorded lectures) • Hands-on learning (labs and sandbox environments) has proven to be highly effective and is increasingly integrated into ILT curriculums • Some businesses offer access to Massive Open Online Courses (MOOCs) or content libraries for self-paced learning • These platforms are useful for general education but might prove inadequate for highly specific skill development • Companies spent $82.5B on workplace training in 2020, according to Statista • As companies continue to invest in technology, we can expect an increasing percentage of the training budget to be allocated to technology training 96% 71% 13% Organizations that recognize a need to provide upskilling opportunities Technologists that spend 30-120 minutes per week on skill development 2020 YoY decline in technologists’ confidence that their skills are adequate for their current role Source: Pluralsight
- 3. 3 Tech Stack Training Product Overview IT Cloud Cybersecurity Data Science Software Development Tech Stack Training platforms facilitate at least one stage of the education continuum… …across a broad set of technology domains Content Creation & Delivery Training Practice & Labs Assessments, Accreditations & Certifications
- 4. 4 Key Market Trends • The architecture underpinning our digital infrastructure is changing at an accelerated rate • Adoption of microservices and containerization architecture and proliferation of APIs – architecture is becoming more modular • As technology evolves, technologists must hone relevant skills • Failure to upskill accordingly results in lost productivity and an ongoing need to rehire, which is more costly than training Every company is becoming a tech company Our education system is broken – shortage of qualified technology professionals • Rapid technological innovation fuels increased demand for skilled labor • But the rising cost of higher education precludes a meaningful portion of the population from pursuing technology careers • The pandemic caused the skills gap to widen even further • Additional talent was required in order to pursue accelerated digital transformation • Remote work brought to light skills gaps that had not previously been prioritized Technology is becoming more compilated • The way in which companies interact with all of their constituents – both internal and external (employees, customers, partners, suppliers, vendors, etc.) – increasingly relies on digital technology • In order to conduct business, let alone retain a competitive advantage, companies must leverage technology that allows them to maximize their speed of innovation and GTM • Cloud technology, data analytics & automation, and cybersecurity are table stakes
- 5. 5 Key Market Trends (Continued) • Ongoing education is critical to long-term career success in technology – more so than other fields – due to the rapid pace of change • As compared to previous generations, young people are quick to switch jobs if they are unhappy in their current role or see a better opportunity for professional growth elsewhere • Access to high quality training programs leads to higher job satisfaction, which ultimately results in stronger retention and a superior company culture Increasing number of digital risks Hands-on learning is more effective than pure content Continuing education and professional growth is a top priority amongst technologists • Companies are “shoring up” their defenses against the increasing number of bad actors • Developers are incentivized to push out product quickly which results in prioritizing speed of go-to- market over security, compliance, or general risk management • The consequences of failing to control risk are higher than ever • Digital risk management is a top C-Suite priority • We believe we’re in the early days of government regulations for digital risk management • Technologists report that training labs and sandbox environments are the most effective resources for skill development • There appears to be a universal disconnect between the C-Suite and lower-level employees in terms of what tools work best • Organizations have been investing most heavily in online content libraries, Learning Management Systems (LMS) and virtual ILT • Pure hands-on learning solutions have gained less traction with decision makers to date
- 6. 6 Acquirer Target Announced April 2020 January 2020 December 2019 July 2019 Acquirer Target Announced June 2021 January 2021 December 2020 October 2020 Recent M&A Activity Recent M&A activity has been most notable at the content layer, and indicates that content providers are aiming to offer end-to-end training solutions across technology domains
- 7. 7 Market Map – By Technology Domain Cross-Domain Cybersecurity Cloud & IT Data Science Certifications Note: this landscape is intended to be a representative sampling and is not an exhaustive list. Please direct inquiries to sidney@catalyst.com, grady@catalyst.com, susan@catalyst.com. Awareness
- 8. 8 Certifications Market Map – By Product Offering Suite Providers Training / Labs Content Library Awareness Legacy Note: this landscape is intended to be a representative sampling and is not an exhaustive list. Please direct inquiries to sidney@catalyst.com, grady@catalyst.com, susan@catalyst.com.
- 9. 9 Please send any inquiries to sidney@catalyst.com