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The online vocational courses market size is estimated to grow at a CAGR of 16.56% between 2022 and 2027 and the size of the market is forecast to increase by USD 21,546.78 million. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by Type (technical and non-technical) and Geography (North America, APAC, Europe, South America, and Middle East and Africa). This report also includes an in-depth analysis of drivers, trends, and challenges.
The online vocational courses market is expected to grow due to the increased adoption of technology, the inefficiency of traditional education, and customized content delivery. Affordable and comprehensive content will drive the adoption of online courses, with brands offering value-added services such as soft skills and career counseling. Traditional textbooks are costly and inaccessible, leading to a shift toward online education. Vendors provide customizable audio-visual and simulation learning platforms, supported by LMS, ERP, AR, VR, blended learning solutions, and student assessment software. These factors are expected to drive the global online vocational courses market during the forecast period.
Furthermore, the enrollment of students in online classes witnessed a rapid surge during the Covid-19 period which propelled the growth of the market. Additionally, the easy accessibility of smartphones is also driving market growth.
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Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Academic Info - The company operates under one segment. The company under this segment is involved in offering online education resources with a plethora of online degrees, online courses, and distance learning information from a selection of online accredited schools. The key offerings of the company include online vocational courses.
The online vocational courses market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in North America is expected to experience significant growth during the forecast period. Some of the major factors that drive the growth of the market in the region are the growth of digital content in the region, the increasing number of internet users and digital spending, and targeted advertisement. Moreover, the growing tech-savvy population in North America tends to spend a significant amount of time on smartphones and computers. This has created opportunities for vendors to build self-service capabilities for people in the region and deliver best-in-class online vocational courses.
Companies are gradually shifting from traditional courses to digital courses. As a result, individuals are increasingly opting for online vocational courses. Furthermore, educational institutions in the US are increasingly shifting toward digital content to increase learning engagement and encourage student interaction with teaching faculty. With institutions actively investing in the development of digital libraries and online educational resources, students can access a range of content on a subject through their internet-enabled devices. In addition, countries such as the US and Canada are encouraging the adoption of digital content in schools and libraries through government initiatives to enrich the learning experience of students. Therefore, owing to such factors the regional market is expected to grow during the forecast period.
The market share growth by the technical segment will be significant during the forecast period. The segment is expected to register steady growth owing to the rising need for learning the latest technologies and staying updated. The segment includes courses designed to enhance the specific technical skills and knowledge of consumers. Training on the fundamental and basic aspects of applications, technology, service tactics, and sales is expected to boost the demand for technical training in the global market during the forecast period.
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The technical segment was valued at USD 6,989.82 million in 2017 and continued to grow until 2021. With the rapid introduction of new technologies and the automation of different tasks, the requirement for reskilling and upskilling is very important. The technical skills of employees directly impact their productivity, and therefore, there is a need to continuously stay updated on the latest technologies to have successful career prospects. Owing to such factors the segment is expected to grow during the forecast period.
Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Governments worldwide are supporting the adoption of digital education and online vocational courses in educational institutions. The EU has launched initiatives such as HEInnovate and the Digital Education Action Plan to promote digital competence among learners in member countries. In the US, the Schools and Libraries Program of the Universal Service Fund provides affordable digital telecommunications and Internet access to educational institutions and libraries. Developing economies such as India and China are also promoting digital education through classroom digitalization and online content delivery. These government initiatives are expected to drive the growth of the global online vocational courses market during the forecast period.
The proliferation of digital technology in education has led to a rapid rise in the number of digital devices and software used in the sector. However, one of the key challenges affecting the growth of e-learning and online vocational courses is cybersecurity. Educational institutions and individual learners need to register using secure credentials, and with increased digitization, threats related to information security and student data privacy have increased. The vulnerability of the educational sector to cyberattacks is due to valuable user and organizational data, lack of centralized structure for data storage, and unregulated use of personal devices. Inadequate cybersecurity measures adopted by educational institutions and learners are expected to hamper the growth of the global online vocational courses market during the forecast period.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Online Vocational Courses Market Customer Landscape
The COVID-19 outbreak has caused significant changes in the North American online vocational courses market, leading to a shift towards online education. Educational institutes have switched to online classes, and some are forming unique partnerships to offer vocational courses. With the lifting of lockdown restrictions and the resumption of business operations in 2021, the demand for online soft skill programs has increased. The demand for quality education and more digitalized teaching materials is expected to drive the growth of the online vocational courses market during the forecast period.
The online vocational courses market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Online Vocational Courses Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.56% |
Market growth 2023-2027 |
USD 21,546.78 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
15.32 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 35% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Academic Info, AICTE, Alison, Australian Forensic Services, Bendigo Kangan Institute, Brentwood Open Learning College, Candlefox Ltd., City and Guilds Group, Edubull, ELN Ltd., learndirect, Moodle Pty Ltd., NIMLS Group of Colleges, Pitman Training Group Ltd., Swinburne University of Technology, Tesda Courses, The National Institute of Open Schooling, TUV Rheinland AG, Twin Group, and Weston Distance Learning Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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