Dublin, April 11, 2023 (GLOBE NEWSWIRE) — The “Technical and Vocational Education Market Size, Share & Trends Analysis Report by Course Type (STEM, Non-STEM), by Learning Mode (Offline, Online), by End-user, by Organization, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global technical and vocational education market size is anticipated to reach USD 1.43 trillion by 2030. The industry is expected to expand at a CAGR of 9.8% from 2022 to 2030.
Companies Mentioned
- Adobe Inc.
- Articulate Global LLC
- City & Guilds Group
- Tuv Rheinland
- Babcock International Group plc
- Ibm
- Pitman Training Group Ltd.
- Cegos
- Learndirect
- The Center for Professional Advancement (Cfpa)
The increasing use of technology in education and the rising demand for job-relevant skills in various sectors are expected to propel industry growth. Technical and vocational education provides support services for the educational sectors that are both instructional and non-instructional.
The widespread use of the internet has demonstrated that e-education continues to proliferate and has a lot of untapped potential that could alter the industry’s performance.
The COVID-19 pandemic had a negative impact on the industry in 2020. Education providers gradually shifted to online learning and blended (online and offline) learning and training mode, which became a more efficient way of education.
Advanced technology and AI-based education have played a crucial role, especially during the COVID-19 pandemic in offering services to a larger set of people due to increased accessibility worldwide. As a result, there has been a significant increase in demand for technical & vocational education during the pandemic. The STEM course type segment led the industry in 2021due to the easy availability of STEM courses.
In addition, STEM courses provide skills related to technology, engineering, science, and mathematics, which result in better job opportunities. Key players are adopting strategies, such as service launches, several developments, and technological innovations.
Technical And Vocational Education Market Report Highlights
- The academic institutions & individual end-user segments dominated the industry in 2021. Pursuing these courses during academic education by students and individuals gives them an added advantage in procuring better job opportunities and salaries
- Europe accounted for the largest share in 2021. European technical and vocational systems are supported by a strong network of collaborators in the field of vocational education
- Social partners, including businesses and labor unions, are involved in the governance of these networks through a variety of chambers, committees, and councils
- Asia Pacific is expected to register the fastest CAGR over the forecast period owing to the rapid economic development as a result of the rising focus on bridging the skilled labor supply and demand gap
- Various initiatives have been started to support vocational and technical education, enhance disposable income, and expand industry potential for companies in the region
- For instance, in India, the Ministry of Skill Development and Entrepreneurship has come up with various schemes and initiatives to boost the skills that are mutually recognized and have importance in the future skillset required for work
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $679.4 Billion |
| Forecasted Market Value (USD) by 2030 | $1430 Billion |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Technical and Vocational Education Industry Outlook
3.1 Market Lineage Outlook
3.2 Market Size, Penetration, and Growth Prospect Mapping
3.3 Regulatory Scenario
3.4 Technical and Vocational Education Market – Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Increased technological advancements in technical and vocational education
3.4.1.2 Ease of accessibility in technical and vocational education
3.4.1.3 Increased use of AI-based education
3.4.2 Market challenge analysis
3.4.2.1 Lack of awareness regarding technical and vocational education
3.4.2.2 Lack of infrastructure in technical and vocational education
3.4.3 Market opportunity analysis
3.4.3.1 Growing potential in technology to boost workforce and technical and vocational education
3.5 Technical and Vocational Education Market – PESTEL Analysis
3.6 Technical and Vocational Education Market – Porter’s Five Forces Analysis
3.7 Technical and Vocational Education Market COVID-19 Impact Analysis
Chapter 4 Technical and Vocational Education Course Type Outlook
4.1 Technical and Vocational Education Market Share By Course Type, 2021
4.2 STEM Education
4.2.1 Technical and vocational education market, by STEM education, 2017 – 2030
4.3 Non-STEM Education
4.3.1 Technical and vocational education market, by non-STEM education, 2017 – 2030
Chapter 5 Technical and Vocational Education End-user Outlook
5.1 Technical and Vocational Education Market Share By End-user, 2021
5.2 Academic Institutions & Individuals
5.2.1 Technical and vocational education market, by academic institutions & individuals, 2017 – 2030
5.3 Corporate Workers
5.3.1 Technical and vocational education market, by corporate workers, 2017 – 2030
Chapter 6 Technical and Vocational Education Learning Mode Outlook
6.1 Technical and Vocational Education Market Share By Learning Mode, 2021
6.2 Online Mode
6.2.1 Technical and vocational education online mode market, 2017 – 2030
6.3 Offline Mode
6.3.1 Technical and vocational education offline mode market, 2017 – 2030
Chapter 7 Technical and Vocational Education Organization Outlook
7.1 Technical and Vocational Education Market Share By Organization, 2021
7.2 Public Institutions
7.2.1 Technical and vocational education market, by public institutions, 2017 – 2030
7.3 Private Institutions
7.3.1 Technical and vocational education market, by private institutions, 2017 – 2030
Chapter 8 Technical and Vocational Education Regional Outlook
Chapter 9 Competitive Analysis
9.1 Company Market Share Analysis, 2021
9.2 Recent Developments & Impact Analysis, By Key Market Participants
9.3 Vendor Landscape
9.4 Strategic Initiatives
Chapter 10 Competitive Landscape
Chapter 11 KOL Commentary
For more information about this report visit https://www.researchandmarkets.com/r/g3j3ig
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- Global Technical and Vocational Education Market
