As per the National Skills Coalition of the US study, over 52% of job vacancies until 2020 are estimated to be in the middle-skill areas, which require TVE (Technical and Vocational Education) instead of conventional education (High School Diplomas or Bachelor’s degree). Technical and vocational Education involves training which is delivered through formal educational institutions, distance-learning programs, workplace training programs, and self-paced courses. It involves learning to acquire certain qualifications, certifications, professional training, leadership development skills, soft skills, management skills, and others. Moreover, the rising digitization of TVE is driving the Global Technical & Vocational Education market.This growth is primarily driven by High Penetration of the Internet, Student Availing Various Online Training Methods, Growing Demand for Candidates with Specialized Skills and Relevant Qualifications and Inherent skill gap issues.
Globally, a noticeable market trend is evident Online Collaboration Tools to Deliver Vocational Skilling Courses To Students Through E-Learning Platforms
. Major Vendors, such as Acumen Global Training (India), CfPA (United States), EduCo (Australia), SAP SE (Germany), City & Guilds (United Kingdom), Learndirect Ltd. (United Kingdom), Pearson TQ (United Kingdom) and ALS Training (United Kingdom) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
February 2018, The United States Embassy in Cairo is helping upgrade technical and vocational education and training under a three-year project in partnership with the Government of Egypt and the private sector to promote job opportunities and sustainable economic development.
- High Penetration of the Internet
- Student Availing Various Online Training Methods
- Growing Demand for Candidates with Specialized Skills and Relevant Qualifications
- Inherent skill gap issues
- Online Collaboration Tools to Deliver Vocational Skilling Courses To Students Through E-Learning Platforms
- High Demand among The Educated And Degree-Holding Millennial who are facing Unemployment
- Cost Factor Associated with Technical and Vocational Education Courses
Increasing Mobile Applications that Contains Self Learning Topics and Aspirants Enrolling into Private Training Institutes to Acquire Specialized Training and Skills
Lack of Awareness among Students Belonging to Low-Income Families and The threat from Corporate Training Institutes
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