Edit Content
Bizwit-Logo-Final

Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Technical and Vocational Education Market to reach USD 1314.89 billion by the end of 2029

Global Technical and Vocational Education Market Size study & Forecast, by Type (STEM Education, Non-STEM Education), by Learning Mode (Online, Offline), by Organization (Public Institution, Private Institution), by End-User (Academic Institutions & Individuals, Corporate Workers), and Regional Analysis, 2022-2029

Product Code: ICTNGT-65815823
Publish Date: 25-01-2023
Page: 200

Global Technical and Vocational Education Market is valued at approximately USD 622.4 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 9.8% over the forecast period 2022-2029. Technical and vocational education includes all levels and forms of training & education to deliver knowledge and skills associated with occupations in many sectors of economic and social life via formal, non-formal and informal learning methods across school-based and work-based learning contexts. Factors such as the rising technological developments in technical and vocational education, growing adoption of AI-based education and ease of accessibility in technical and vocational education are driving the market growth across the globe.

The rising number of initiatives and programs to provide technical and vocational education to the population is acting as a significant factor for market growth. For instance, in July 2022, AI Singapore announced the launch of the AI Outreach Students Program, which aims on assisting students to become fluent in and knowledgeable about Artificial Intelligence (AI). This initiative is likely to create 15,000 students for STEM jobs. Consequentially, various countries are taking several initiatives to present jobs and quality education facilities. Similarly, in November 2020, the European Council accepted a reference on vocational education and training for social justice, long-term competitiveness, and resilience. The proposal outlines serve as crucial guides for ensuring that vocational education and training are adaptable, which means it can change fast to suit the needs of the labour market and provide excellent learning opportunities for both adults and children. Thereby, these aforementioned factors are exhibiting a positive influence on the growth of the market. In addition, the rising potential in technology to enhance workforce and technical and vocational, as well as the growing penetration of VET in emerging markets are creating various growth prospects for the market over the forecasting years. However, the unavailability of infrastructure in technical and vocational education and lack of awareness regarding technical and vocational education stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Technical and Vocational Education Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Europe dominated the market in terms of revenue, owing to the increasing government support, growing focus on technological developments, and high demand and availability of vocational education Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as peer-to-peer learning to bridge the gap between education and job needs as well as growing awareness regarding vocational training in the regional market.

Major market players included in this report are:
Acumatica, Inc.
Amazon Web Services, Inc.
Adobe Inc.
Articulate Global LLC
City & Guilds Group
Babcock International Group PLC
Pitman Training Group Limited
learndirect Limited
The Center for Professional Advancement (CfPA)
International Business Machine Corp. (IBM)

Recent Developments in the Market:
 In August 2021, SAP entered into a partnership agreement with Microsoft to launch‘TechSaksham’ a program to empower 62,000 women with skills needed in the field of technology.

Global Technical and Vocational Education Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Learning Mode, Organization, End-User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
STEM Education
Non-STEM Education
By Learning Mode:
Online
Offline
By Organization:
Public Institution
Private Institution
By End-User:
Academic Institutions & Individuals
Corporate Workers
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Technical and Vocational Education Market, by Region, 2019-2029 (USD Billion)
1.2.2. Technical and Vocational Education Market, by Type, 2019-2029 (USD Billion)
1.2.3. Technical and Vocational Education Market, by Learning Mode, 2019-2029 (USD Billion)
1.2.4. Technical and Vocational Education Market, by Organization, 2019-2029 (USD Billion)
1.2.5. Technical and Vocational Education Market, by End-User, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Technical and Vocational Education Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Technical and Vocational Education Market Dynamics
3.1. Technical and Vocational Education Market Impact Analysis (2019-2029)
3.1.1. Market Drivers
3.1.1.1. Increasing technological developments in technical and vocational education
3.1.1.2. Rising number of initiatives and programs
3.1.2. Market Challenges
3.1.2.1. Unavailability of infrastructure in technical and vocational education
3.1.2.2. Lack of awareness regarding technical and vocational education
3.1.3. Market Opportunities
3.1.3.1. Rising potential in technology to enhance workforce and technical and vocational
3.1.3.2. Growing penetration of VET in emerging markets
Chapter 4. Global Technical and Vocational Education Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Technical and Vocational Education Market, by Type
6.1. Market Snapshot
6.2. Global Technical and Vocational Education Market by Type, Performance – Potential Analysis
6.3. Global Technical and Vocational Education Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Technical and Vocational Education Market, Sub Segment Analysis
6.4.1. STEM Education
6.4.2. Non-STEM Education
Chapter 7. Global Technical and Vocational Education Market, by Learning Mode
7.1. Market Snapshot
7.2. Global Technical and Vocational Education Market by Learning Mode, Performance – Potential Analysis
7.3. Global Technical and Vocational Education Market Estimates & Forecasts by Learning Mode 2019-2029 (USD Billion)
7.4. Technical and Vocational Education Market, Sub Segment Analysis
7.4.1. Online
7.4.2. Offline
Chapter 8. Global Technical and Vocational Education Market, by Organization
8.1. Market Snapshot
8.2. Global Technical and Vocational Education Market by Organization, Performance – Potential Analysis
8.3. Global Technical and Vocational Education Market Estimates & Forecasts by Organization 2019-2029 (USD Billion)
8.4. Technical and Vocational Education Market, Sub Segment Analysis
8.4.1. Public Institution
8.4.2. Private Institution
Chapter 9. Global Technical and Vocational Education Market, by End-User
9.1. Market Snapshot
9.2. Global Technical and Vocational Education Market by End-User, Performance – Potential Analysis
9.3. Global Technical and Vocational Education Market Estimates & Forecasts by End-User 2019-2029 (USD Billion)
9.4. Technical and Vocational Education Market, Sub Segment Analysis
9.4.1. Academic Institutions & Individuals
9.4.2. Corporate Workers
Chapter 10. Global Technical and Vocational Education Market, Regional Analysis
10.1. Technical and Vocational Education Market, Regional Market Snapshot
10.2. North America Technical and Vocational Education Market
10.2.1. U.S. Technical and Vocational Education Market
10.2.1.1. Type breakdown estimates & forecasts, 2019-2029
10.2.1.2. Learning Mode breakdown estimates & forecasts, 2019-2029
10.2.1.3. Organization breakdown estimates & forecasts, 2019-2029
10.2.1.4. End-User breakdown estimates & forecasts, 2019-2029
10.2.2. Canada Technical and Vocational Education Market
10.3. Europe Technical and Vocational Education Market Snapshot
10.3.1. U.K. Technical and Vocational Education Market
10.3.2. Germany Technical and Vocational Education Market
10.3.3. France Technical and Vocational Education Market
10.3.4. Spain Technical and Vocational Education Market
10.3.5. Italy Technical and Vocational Education Market
10.3.6. Rest of Europe Technical and Vocational Education Market
10.4. Asia-Pacific Technical and Vocational Education Market Snapshot
10.4.1. China Technical and Vocational Education Market
10.4.2. India Technical and Vocational Education Market
10.4.3. Japan Technical and Vocational Education Market
10.4.4. Australia Technical and Vocational Education Market
10.4.5. South Korea Technical and Vocational Education Market
10.4.6. Rest of Asia Pacific Technical and Vocational Education Market
10.5. Latin America Technical and Vocational Education Market Snapshot
10.5.1. Brazil Technical and Vocational Education Market
10.5.2. Mexico Technical and Vocational Education Market
10.5.3. Rest of Latin America Technical and Vocational Education Market
10.6. Rest of The World Technical and Vocational Education Market

Chapter 11. Competitive Intelligence
11.1. Top Market Strategies
11.2. Company Profiles
11.2.1. Acumatica, Inc.
11.2.1.1. Key Information
11.2.1.2. Overview
11.2.1.3. Financial (Subject to Data Availability)
11.2.1.4. Product Summary
11.2.1.5. Recent Developments
11.2.2. Amazon Web Services, Inc.
11.2.3. Adobe Inc.
11.2.4. Articulate Global LLC
11.2.5. City & Guilds Group
11.2.6. Babcock International Group PLC
11.2.7. Pitman Training Group Limited
11.2.8. learndirect Limited
11.2.9. The Center for Professional Advancement (CfPA)
11.2.10. International Business Machine Corp. (IBM)
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com

Checkout

Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.

Enquiry Now