NEW YORK, Feb. 15, 2023 /PRNewswire/ -- According to Technavio, the global online vocational courses market size is estimated to grow by USD 21,546.78 million from 2022 to 2027. The market is estimated to grow at a CAGR of 16.56% during the forecast period. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 9,795.15 million. North America will account for 35% of the market's growth during the forecast period.
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Global online vocational courses market - Five Forces
The global online vocational courses market is fragmented, and the five forces analysis covers–
- Bargaining power of buyers
- The threat of new entrants
- Threat of rivalry
- Bargaining power of suppliers
- Threat of substitutes
- Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!
Global online vocational courses market – Customer Landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on 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 - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type (Technical and Non-technical).
- The technical segment will account for a significant share of the global market 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. Technical training is a process of coaching, mentoring, and teaching how to perform technical tasks on the job more accurately and thoroughly. 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.
Geography Overview
By geography, the global online vocational courses market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global online vocational courses market.
- North America is estimated to account for 35% of the growth of the global market during the forecast period. 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. Such factors will increase the market growth during the forecast period.
Global online vocational courses market – Market Dynamics
Key factor driving market growth
- The growing advantages of online learning are notably driving market growth.
- The market is estimated to grow owing to factors such as the increased adoption of technologies, the inefficiency of the traditional education system, and the rising use of customization in content delivery. The availability of comprehensive content at affordable prices to students will also be a key factor driving the adoption of online courses.
- Owing to the high cost and limited accessibility associated with traditional printed textbooks, educational institutions are increasingly focusing on online education.
- Vendors also provide audio-visual content and simulation learning platforms, which can be customized as per the school's curriculum.
- The availability of various support solutions, such as learning management solutions (LMS) and enterprise resource planning (ERP), as well as augmented reality (AR), virtual reality (VR), blended learning solutions, and student assessment software, has further played a major role in enhancing the demand for online vocational courses by various schools and universities. Hence, such factors are expected to drive the demand for the global market during the forecast period.
Leading trends influencing the market
- The emergence of virtual schools is an emerging trend in the market.
- It has been recently observed that the proliferation of virtual schools is on the rise. Owing to the massive education digitization steps and initiatives, virtual schools are getting popular among students and education authorities. Their growth is favored by the availability of virtual communication tools, virtual labs, and simulated learning environments.
- Furthermore, institutions are inclined toward procuring education software solutions such as student information management systems (SIMS) and school administrative software (SAS).
- These software solutions provide clarity on areas such as student assessment, financial and human resources (HR) issues, and student information database creation.
- Considering these initiatives from educational institutions, many vendors have developed scalable and flexible solutions to ensure that they have solutions at different price ranges to accommodate all segments of educational institutions. Such factors are expected to fuel the growth of the global online vocational courses market during the forecast period.
Major challenges hindering the market growth
- Inadequate cybersecurity measures are major challenges impeding the market growth.
- Educational institutions and individual learners need to register using secure credentials, such as personal information and payment details, to use these digital tools. One of the key challenges affecting the growth of e-learning and online vocational courses is cybersecurity.
- With the increased digitization of education, the threats related to information security, unwarranted access, and student data privacy have increased.
- The key reasons for the vulnerability of the educational sector to cyberattacks include the availability of valuable user and organizational data, the lack of a centralized structure for data storage, and the unregulated use of personal digital devices.
- The major sources of cybersecurity threats to educational content include malware viruses, such as WannaCry, through social media, the virtualization of systems, and the consumerization of IT (Information Technology). Hence, these factors are expected to hamper the growth of the global market during the forecast period.
What are the key data covered in this online vocational courses market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the online vocational courses market between 2023 and 2027
- Precise estimation of the online vocational courses market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the online vocational courses market across North America, APAC, Europe, South America, and Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of online vocational courses market vendors
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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, and Market condition analysis for the 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. |
Table of contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Courses
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global online vocational courses market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global online vocational courses market 2017 - 2021 ($ million)
- 4.2 Type Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)
- 4.3 Courses Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Courses Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 30: Chart on Type - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
- 6.2 Comparison by Type
- Exhibit 32: Chart on Comparison by Type
- Exhibit 33: Data Table on Comparison by Type
- 6.3 Technical - Market size and forecast 2022-2027
- Exhibit 34: Chart on Technical - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Technical - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Technical - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Technical - Year-over-year growth 2022-2027 (%)
- 6.4 Non-technical - Market size and forecast 2022-2027
- Exhibit 38: Chart on Non-technical - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Non-technical - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Non-technical - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Non-technical - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Type
- Exhibit 42: Market opportunity by Type ($ million)
7 Market Segmentation by Courses
- 7.1 Market segments
- Exhibit 43: Chart on Courses - Market share 2022-2027 (%)
- Exhibit 44: Data Table on Courses - Market share 2022-2027 (%)
- 7.2 Comparison by Courses
- Exhibit 45: Chart on Comparison by Courses
- Exhibit 46: Data Table on Comparison by Courses
- 7.3 IT and software courses - Market size and forecast 2022-2027
- Exhibit 47: Chart on IT and software courses - Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Data Table on IT and software courses - Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Chart on IT and software courses - Year-over-year growth 2022-2027 (%)
- Exhibit 50: Data Table on IT and software courses - Year-over-year growth 2022-2027 (%)
- 7.4 Business management courses - Market size and forecast 2022-2027
- Exhibit 51: Chart on Business management courses - Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Data Table on Business management courses - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Chart on Business management courses - Year-over-year growth 2022-2027 (%)
- Exhibit 54: Data Table on Business management courses - Year-over-year growth 2022-2027 (%)
- 7.5 Finance and accounting courses - Market size and forecast 2022-2027
- Exhibit 55: Chart on Finance and accounting courses - Market size and forecast 2022-2027 ($ million)
- Exhibit 56: Data Table on Finance and accounting courses - Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Chart on Finance and accounting courses - Year-over-year growth 2022-2027 (%)
- Exhibit 58: Data Table on Finance and accounting courses - Year-over-year growth 2022-2027 (%)
- 7.6 Personal development courses - Market size and forecast 2022-2027
- Exhibit 59: Chart on Personal development courses - Market size and forecast 2022-2027 ($ million)
- Exhibit 60: Data Table on Personal development courses - Market size and forecast 2022-2027 ($ million)
- Exhibit 61: Chart on Personal development courses - Year-over-year growth 2022-2027 (%)
- Exhibit 62: Data Table on Personal development courses - Year-over-year growth 2022-2027 (%)
- 7.7 Other courses - Market size and forecast 2022-2027
- Exhibit 63: Chart on Other courses - Market size and forecast 2022-2027 ($ million)
- Exhibit 64: Data Table on Other courses - Market size and forecast 2022-2027 ($ million)
- Exhibit 65: Chart on Other courses - Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on Other courses - Year-over-year growth 2022-2027 (%)
- 7.8 Market opportunity by Courses
- Exhibit 67: Market opportunity by Courses ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 69: Chart on Market share by geography 2022-2027 (%)
- Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 71: Chart on Geographic comparison
- Exhibit 72: Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2022-2027
- Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.4 APAC - Market size and forecast 2022-2027
- Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.5 Europe - Market size and forecast 2022-2027
- Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 US - Market size and forecast 2022-2027
- Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.9 China - Market size and forecast 2022-2027
- Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.10 Germany - Market size and forecast 2022-2027
- Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.11 UK - Market size and forecast 2022-2027
- Exhibit 105: Chart on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 106: Data Table on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 107: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 108: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.12 Japan - Market size and forecast 2022-2027
- Exhibit 109: Chart on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 110: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 111: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 112: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 113: Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 114: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 116: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 117: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 118: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 119: Matrix on vendor position and classification
- 12.3 Academic Info
- Exhibit 120: Academic Info - Overview
- Exhibit 121: Academic Info - Product / Service
- Exhibit 122: Academic Info - Key offerings
- 12.4 AICTE
- Exhibit 123: AICTE - Overview
- Exhibit 124: AICTE - Product / Service
- Exhibit 125: AICTE - Key offerings
- 12.5 Bendigo Kangan Institute
- Exhibit 126: Bendigo Kangan Institute - Overview
- Exhibit 127: Bendigo Kangan Institute - Product / Service
- Exhibit 128: Bendigo Kangan Institute - Key offerings
- 12.6 Brentwood Open Learning College
- Exhibit 129: Brentwood Open Learning College - Overview
- Exhibit 130: Brentwood Open Learning College - Product / Service
- Exhibit 131: Brentwood Open Learning College - Key offerings
- 12.7 Candlefox Ltd.
- Exhibit 132: Candlefox Ltd. - Overview
- Exhibit 133: Candlefox Ltd. - Product / Service
- Exhibit 134: Candlefox Ltd. - Key offerings
- 12.8 City and Guilds Group
- Exhibit 135: City and Guilds Group - Overview
- Exhibit 136: City and Guilds Group - Product / Service
- Exhibit 137: City and Guilds Group - Key offerings
- 12.9 Edubull
- Exhibit 138: Edubull - Overview
- Exhibit 139: Edubull - Product / Service
- Exhibit 140: Edubull - Key offerings
- 12.10 ELN Ltd.
- Exhibit 141: ELN Ltd. - Overview
- Exhibit 142: ELN Ltd. - Product / Service
- Exhibit 143: ELN Ltd. - Key offerings
- 12.11 learndirect
- Exhibit 144: learndirect - Overview
- Exhibit 145: learndirect - Product / Service
- Exhibit 146: learndirect - Key offerings
- 12.12 Pitman Training Group Ltd.
- Exhibit 147: Pitman Training Group Ltd. - Overview
- Exhibit 148: Pitman Training Group Ltd. - Product / Service
- Exhibit 149: Pitman Training Group Ltd. - Key offerings
- 12.13 Tesda Courses
- Exhibit 150: Tesda Courses - Overview
- Exhibit 151: Tesda Courses - Product / Service
- Exhibit 152: Tesda Courses - Key offerings
- 12.14 The National Institute of Open Schooling
- Exhibit 153: The National Institute of Open Schooling - Overview
- Exhibit 154: The National Institute of Open Schooling - Product / Service
- Exhibit 155: The National Institute of Open Schooling - Key offerings
- 12.15 TUV Rheinland AG
- Exhibit 156: TUV Rheinland AG - Overview
- Exhibit 157: TUV Rheinland AG - Business segments
- Exhibit 158: TUV Rheinland AG - Key offerings
- Exhibit 159: TUV Rheinland AG - Segment focus
- 12.16 Twin Group
- Exhibit 160: Twin Group - Overview
- Exhibit 161: Twin Group - Product / Service
- Exhibit 162: Twin Group - Key offerings
- 12.17 Weston Distance Learning Inc.
- Exhibit 163: Weston Distance Learning Inc. - Overview
- Exhibit 164: Weston Distance Learning Inc. - Product / Service
- Exhibit 165: Weston Distance Learning Inc. - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 166: Inclusions checklist
- Exhibit 167: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 168: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 169: Research methodology
- Exhibit 170: Validation techniques employed for market sizing
- Exhibit 171: Information sources
- 13.5 List of abbreviations
- Exhibit 172: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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