Industry Background:
Vocational training is the education for skills development or instruction programs for enhancing or developing specific skills. The vocational training can opt for job requirements as well as personal skill development. It prepares students or corporate professionals for a specific career or job requirement. It covers a wide range of industries such as education, technology, corporate, retail, hospitality, and other industries.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Cegos, SA (France), Blackboard Inc. (United States), Cisco Webex (Cisco Systems) (United States), Desire2Learn (D2L) (Canada), IBM Skills (United States), Lumesse (SABA Software) (United States), Microsoft Corporation (United States), City & Guilds (Kineo) (United Kingdom), Fischer, Knoblauch & Co. (Germany), Durr Group (Germany), Kohlberg Kravis Roberts & Co. L.P. (United States) and Assima Plc (Klimvest) (Canada) |
This growth is primarily driven by Growing Demand for the Skills Development Among Students and Demand for the Expertise in Various Skill Set in Corporate Industry.
Globally, a noticeable market trend is evident Increasing Popularity of On-the-Job Vocational Training
Major Vendors, such as Cegos, SA (France), Blackboard Inc. (United States), Cisco Webex (Cisco Systems) (United States), Desire2Learn (D2L) (Canada), IBM Skills (United States), Lumesse (SABA Software) (United States), Microsoft Corporation (United States), City & Guilds (Kineo) (United Kingdom), Fischer, Knoblauch & Co. (Germany), Durr Group (Germany), Kohlberg Kravis Roberts & Co. L.P. (United States) and Assima Plc (Klimvest) (Canada), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On 31st July 2020, KKR, a leading global investment firm, and MasterD, the leading vocational training company in Spain, announced an agreement for KKR to acquire a majority stake in MasterD. MasterDs’s founder, Luis Gomez, and the management team will reinvest alongside KKR. Further financial details are not disclosed.
Regulatory Insights:
"The federal government provides the legal framework for initial vocational education and training through laws and ordinances. The term “training regulation” refers to a set of regulations laying down the objectives, content, and examination requirements for company-based initial vocational training. These are enacted by the relevant federal ministries in concert with the Federal Ministry of Education and Research (BMBF) by means of ordinances that do not require approval from the upper house of parliament (Bundesrat). They apply nationwide and have the force of legislation."
Influencing Trend:
Increasing Popularity of On-the-Job Vocational Training and K–12 Vocational Education in on Trend
Market Growth Drivers:
Growing Demand for the Skills Development Among Students and Demand for the Expertise in Various Skill Set in Corporate Industry
Challenges:
Stringent Regulatory Guidelines on the Vocational Training
Restraints:
Limited Vocational Training Reachability in Rural Areas of the World
Opportunities:
Rising Spendings of People on Vocational Training and Skill Development for the Job Requirements
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Vocational Training Market
- Analysis about New Entrants in Vocational Training Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Vocational Training Study Sheds Light on
The Vocational Training Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Vocational Training industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Vocational Training industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.