Technical and Vocational Education Market Overview, Size, Top Key Players, Growth, Share, and Forecast 2032

The research study conducted by Report Ocean on the "Technical and Vocational Education Market" spans over 100 pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.

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.

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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)

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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.

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

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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

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Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?

Growth Hampering Factors in the Market:
• Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
• Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
• Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
• Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
• Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
• Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
• Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
• Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
• Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.

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