Global & Australia Vocational Training Market

Global & Australia Vocational Training Market

The Global Vocational Training market size was valued at $61,831.32 Million in 2019 growing at a CAGR of 6.59% from 2020 to 2027. The Australia Vocational Training market size was valued at $11,111.8 Million in 2019 growing at a CAGR of 10.2% from 2020 to 2027. This growth is attributed to several macros and microeconomic factors such as

The Shift in Education Sector

The shift in the education system from the traditional way to digital learning amid COVID19 is disruptive the learning across the globe. The COVID19 pandemic has impacted on the lives and has resulted in the adoption of innovative technologies of getting education services. The COVID19 pandemic have led to shut down of school and university across the globe. Globally around 1.2 billion of students are out of the school due to the COVID19 pandemic. Due to this, the education sector has changed dramatically and there has been a distinctive rise in the e-learning, whereby the teaching is done online with a digital platform.

Many countries are at different points in their COVID19 infection rate across the globe. With the sudden shift from the traditional way of classroom learning to the adoption of online learning will continue to post COVID19 pandemic.

According to data published by World Economic Forum, even before COVID19, there has been an increase in the adoption of education technology with global edTech investment up to $18.66 billion in 2019 and the overall online education market projected to reach $350 Billion by 2025. In response to the significant demand for online education amid the COVID19 pandemic, many online learning platforms have offered free access to their services such as 3P Learning, Cahoot, and among others. This will result in an increase in demand for e-learning and vocational training in Australia.

Further several factors restraining the market growth include

Change in the requirement of specific skill sets

The vocational education and training provide an individual with an increased capability in a specific field and make them a skilled employee. This will lead to a comfortable livelihood for an individual.

Despite having a skilled set in specific fields, the continuous change in the technology will make that skill set obsolete. The world is moving very fast and the skill set which is valuable today might not be as effective for tomorrow, making an individual an unresourceful employee. This can hamper the growth of the vocational training market in the future and can affect the market.

Collaborations and Alliances in the Vocational Training market are expected to generate higher avenues during the forecast period.

In the wake of the COVID-19 pandemic, supply chain disruptions have led to supply shortages or lower demand in the Vocational Training market. The pandemic has caused a decline in new orders and a corresponding decrease in production.

This section will analyze how COVID-19 has impacted supply chains, leading to shortages and lower demand for Vocational Trainings.

In terms of COVID-19 impact, the Vocational Training market report also includes the following data points:

Impact on Vocational Training market size
Operating Weights Trend, Preferences, and Budget Impact
Regulatory Framework/Government Policies
Key Player's Strategy to Tackle Negative Impact/Post-COVID Strategies
Opportunity in the Vocational Training market

Key Insight in the report:
The Global & Australia Vocational Training market report covers executive summary, market dynamics, COVID impact & post-COVID scenario, market size and forecast, competitive intelligence, market positioning, and product offerings.

Our report covers extensive competitive intelligence which includes the following data points:

Business Overview
Business Segment Data
Financial Data
Product Segment Analysis and Specification
Recent Development and Company Strategy Analysis
SWOT Analysis

Vocational Training Market Segmentation:

Type
Accredited
Non-Accredited
Material
High School programs
Tech Prep Education
Postsecondary Vocational School
Apprenticeship Programs
On-the-job Training
Others
RTO Type
Private RTOs
TAFE Institutes
Community RTOs
Schools
Enterprise RTOs
Universities

Region/ Countries Covered:

North America
US
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of Asia Pacific
Rest of the World
South America
Middle East & Africa

Key Players Analyzed in the Report:

TECHNICAL AND FURTHER EDUCATION (TAFE)
Upskilled
Trainsmart Australia
Australian College of Commerce and Management (ACCU)
FMS Training
Australis College
Eynesbury College
Adelaide Institute of Business and Technology
AHTS Training & Education
Skills Australia

REPORT CONTENT:

High-level analysis of the current and future market trends and opportunities
Detailed analysis of current market drivers, restraining factors, and opportunities in the future
Vocational Training market estimates for 2019 and forecast from 2020 to 2027
Vendor market share analysis at each product level
Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.

Target Audience

Manufacturers
Suppliers and traders
Government, associations, and industrial bodies
Investors and trade experts
Consulting Firms or Individual Consultants
Anyone interested in understanding the industry dynamics of the Vocational Training market