Technical and Vocational Education Market in North America 2016-2020

Overview of the technical and vocational education (TVE) market in North America

Technavio’s market research analyst predicts the technical and vocational education (TVE) market in North America to grow at a CAGR of more than 4% by 2020.  The market is witnessing the use of several advanced technologies for content creation and delivery methods, which in turn enables efficient collaboration among trainers and learners. With the high penetration of the Internet, students are availing various online training methods like mobile learning, gamification, and blended learning. Many training solution providers are also developing mobile applications that can be used for self-paced learning. Also, vendors are making use of simulations and online collaboration tools to deliver vocational skilling courses to students through e-learning platforms. The growing demand for candidates with specialized skills and relevant qualifications will boost the demand for TVE in North America in the coming years.

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 instead of conventional education such as high school diplomas or bachelor’s degree. As these middle-class jobs are essential for North America’s infrastructural development and overall economic growth, their demand is high among the educated and degree-holding millennials who are facing unemployment. Moreover, as several aspirants are also getting into private training institutes to acquire specialized training and skills, the growth prospects for this market will have a positive outlook until the end of 2020.

Segmentation by product and analysis of the TVE market in North America

• STEM TVE
• Non- technical TVE

STEM TVE will be the highest revenue contributing segment in the market and is expected to occupy more than 50% of the total market revenue during the forecast period. Increasing awareness pertaining to the rise in skill gaps will compel people in North America to invest in TVE. The recent rise in demand for STEM across sectors such as aeronautics, automotive, HVAC, and electronics will lead to its increased adoption during the next four years.

Competitive landscape and key vendors

The market is highly fragmented with the presence of many training providers. In this market, the vendors specialize in training programs that cater to different sectors like IT, healthcare, hospitality and tourism, accountancy skills, and others. The market is becoming complex due to the presence of private training providers and specialized providers that focus on emerging training needs. 

Key vendors in the market are -

• Acumen Global Training
• CfPA
• EduCo
• SAP

Other prominent vendors include Canadian Vocational Training Center, CLC Technical Training, CleanEdison, CORE Education & Technologies, Unitek Information Systems, and VMEdu.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the TVE market in North America?
• What are the key market trends impacting the growth of the TVE market in North America?
• What are the challenges to market growth?
• Who are the key vendors in the TVE market in North America?
• What are the market opportunities and threats faced by the vendors in the TVE market in North America?
• Trending factors influencing the market shares of North America.
• What are the key outcomes of the five forces analysis of the TVE market in North America?

Technavio also offers customization on reports based on specific client requirement.      

Related reports:

• Global Simulation Learning Market in the Higher Education Sector 2016-2020
• Global Generic E-Learning Courses Market 2016-2020
• Generic E-learning Courses Market in the US 2015-2019