About TVET (Technical and Vocational Education and Training)
TVET (technical and vocational education and training) is a type of education and training that prepares people for work. Formal, non-formal, and informal learning are all used in TVET. TVET is widely acknowledged as a critical tool for achieving social fairness, inclusiveness, and long-term development. Vocational training lineups a group of professionals traveling abroad to either learn more about their profession or teach local professionals about a particular field and provide charitable service in their area of expertise. COVID-19 pandemic has adversely affected the global economy. The impact of a pandemic on the education industry is worth mentioning. As the funding education industry was already various consciences, the sudden occurrence of COVID-19 has boosted the hindrance significantly.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Mergers and acquisitions, expansions, investments, new service launches, and collaborations are among the companies' favored techniques for exploring the market. Players are expanding and acquiring businesses in new geographies in order to get a competitive edge through synergy. Analyst at AMA Research estimates that European Vendors will contribute the maximum growth to TVET (Technical and Vocational Education and Training)Global TVET (Technical and Vocational Education and Training) market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
TasTAFE (Australia), Wagons Learning (India), Nakawa Vocational Training Institute (Uganda), Empserve (Kenya), Ceader Nigeria (Nigeria), Vanessa Grant Trust (Kenya), Tech ME (Nigeria), GRET (France), FAWCO (United States), The Kenya Red Cross Society (Kenya), Namati (United States) and Welthungerhilfe (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are CfPA, City & Guilds, Learndirect, Pearson TQ, Acorn Learning and Development, ACT Training, Babcock International, Interserve Learning & Employment, First4 Skills, GP Strategies, Pitman Training, Tavcom Training and The TTE Technical Training Group.
Segmentation Overview
AMA Research has segmented the market of TVET (Technical and Vocational Education and Training)Global TVET (Technical and Vocational Education and Training) market by , Application (Individual and Enterprises) and Region.
On the basis of geography, the market of TVET (Technical and Vocational Education and Training) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the TVET (Technical and Vocational Education and Training) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Technological Development Such as Online & Blended Learning, Tele-Education, and Others
Market Growth Drivers:
Increase in Unemployment Rate and High Population Growth Rate
Restraints:
Lack of Awareness among End Users
Opportunities:
Rising Funders Expenditure and Collaboration with Government Bodies and The Emergence of New Technologies Will Impact the E-learning Landscape
Analyst View
With the growing requirement of skill development across various individuals and small and medium size enterprises. Along with this increase in initiatives from the government for establishing and optimizing such an environment, majorly in areas where the market mechanism fails in allocating resources. The government is also highly investing in technology advancement. Talking about funded vocational training it is considered all issues that applied in the forms of paid vocational trainings. Funded vocational training is facing some issues such as it required much funding expense, along with this fluctuation in the currency is also hampering the growth of this funded vocational training market
Key Target Audience
TVET (Technical and Vocational Education and Training) Providers, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.