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Market research analysts at Technavio have predicted that the vocational training market in GCC will grow steadily at a CAGR of more than 14% by 2020. Due to extensive investments from governments, the healthcare sector is the fastest growing sector in the GCC. The growth of this sector also attributes to the rise in demand for quality healthcare, increasing income levels, and recent regulatory changes which make health insurance mandatory for employers. Though this market study estimates the increase in demand for quality healthcare services in GCC, the region still experiences a shortage of skilled medical staff. This will lead to the rise in demand for vocational education and training in healthcare-related fields in the coming years.
It has been observed that due to continuous government investments, national level plans, and institutional initiatives, countries in the GCC have bridged the educational and skills gap to a moderate extent. Authorities have started focusing on increasing student enrollment and also improving the quality of education across all segments of the GCC education market. This has induced domestic institutions to enter into partnership agreements with reputed universities to impart greater quality technical education. The entry of more private institutions and the introduction of new vocational training programs and teaching methods such as dual learning programs will be one of the major trends in the vocational training market in GCC during the predicted period.
Public vocational training will primarily be propelled by government initiatives. The market will witness the emergence of private vocational training providers during the forecast period. The market will also witness the incorporation of innovative technologies like blended learning and e-learning platforms to improve the delivery of vocational training and this will intensify the competitive environment in this market in the coming years. To gain a considerable share of the market, vendors will start to concentrate on improving their service offerings by expanding the portfolio of subjects and focus areas in their vocational training courses.
The leading vendors in the market are -
The other prominent vendors in the market are Institute of Applied Technology, Higher Colleges of Technology, Public Authority for Applied Education & Training, Kuwait Investment Authority, Luminus, and TAFE SA International.
According to this market research and analysis, the non-technical training segment accounted for more than 75% of the total market share and dominated this market during 2015. The rise in demand for locally produced content across all kinds of media will propel the demand for vocational training providers in this particular field. Additionally, numerous job opportunities in various sectors such as carpentry, woodwork, and crafts will lead to the requirement of skilled professionals, which in turn, will lead to the rise in demand for vocational training courses in the coming years.
This market study estimates that Saudi Arabia will account for more than 87% of the total share of the vocational training market in GCC by 2020 and dominate this market throughout the forecast period. The growth of the market is mainly attributed to the requirement of trained manpower across various sectors. Moreover, continuous government expenditures to develop the country’s human resources will also contribute to the growth of the market in this region.
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Vocational training is a type of educational training that offers practical experience in a particular occupational field like agriculture, home economics, or manufacturing industry. In addition to general education, vocational training broadly covers technologies and related sciences. It also lays emphasis on the attainment of practical knowledge and skills about the various sectors of economic life. Qatar Skills Academy, TVTC, and Abha College of Technology are some of the leading vendors in this market space.
The report, vocational training market in GCC, is part of Technavio’s education portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as education technology, K12 and higher education, and school and college essentials. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market drivers
PART 06: Impact of drivers
PART 07: Market challenges
PART 08: Impact of drivers and challenges
PART 09: Market trends
PART 10: Market landscape
PART 11: Market segmentation by product
PART 12: Geographical segmentation
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Other prominent vendors
PART 16: Appendix
PART 17: Explore Technavio
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