Global Vocational Training Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Vocational Training Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Vocational Training is a kind of training that emphasizes skills and knowledge required for a particular job function (such as typing or data entry) or a trade (such as carpentry or welding). Focusing on professional development through vocational training helps employees in improving their skills and enhancing their performance.

Market Overview:

The latest research study on the global Vocational Training market finds that the global Vocational Training market reached a value of USD 32797.35 million in 2022. It’s expected that the market will achieve USD 58083.46 million by 2028, exhibiting a CAGR of 9.99% during the forecast period.

Market Competition Trend

After a period of development, the vocational training industry is in a growth period, with a fierce competition institution. High demand of professional employees, lots of emerging technologies, and clarified individual work have become the trending and fast-growing drivers in recent times.

Top 3 companies are covering 3.56% market share. Top 6 companies are covering 5.80% market share. The vocational training market is controlled by lots of companies. There still are many middle and small companies provided vocational training. The market of vocational training has very low Concentration Ratio.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Cornerstone OnDemand Inc, Blackboard, and GP Strategies Corporation with the revenue market share of 1.42%, 1.30%, and 0.84% in 2017.

Cornerstone OnDemand, Inc., together with its subsidiaries, provides learning and human capital management software through software-as-a-service model worldwide. Its enterprise human capital management platform comprises four product suites, such as Recruiting Suite that helps organizations to source and attract candidates, assess and select applicants, onboard new hires, and manage the entire recruiting process; Learning Suite, which enables clients to manage training and development programs, knowledge sharing and collaboration among employees, track compliance requirements, and support career development for employees; Performance Suite that provides tools to manage goal setting, performance reviews, competency assessments, development plans, continuous feedback, compensation management, and succession planning; and HR Administration Suite, which supports employee records administration, organizational management, employee and manager self-service, workforce planning, and compliance reporting. The company also offers PiiQ, a cloud-based talent management solution for organizations with 500 or fewer employees; and Cornerstone Edge solutions that allow clients and partners to integrate with marketplace of service providers. In addition, it provides professional services, including application configuration, system integration, business process re-engineering, change management, and training. The company serves automotive, business services, education and publishing, financial services, food and restaurants, healthcare, insurance, media and communications, non-profits, pharmaceuticals, public sector, retail, technology, and travel industries.

Blackboard Inc. provides enterprise technology and solutions for the educational industry. It offers Blackboard Learn, an education technology platform that supports staff and programs to achieve academic goals; Blackboard Collaborate that provides a learning platform for collaborative, interactive and mobile learning experiences; Blackboard Connect that provides notification service to cities, campuses, and schools; Blackboard Transact, which enables students to make purchases on and off campus by using their ID cards; and SafetyList, a crisis management response platform that helps school district leaders coordinate the internal teams responsible for preparing and managing safety/security incidents. The company also provides Blackboard Analytics, a platform that transforms enterprise data into actionable insights; Blackboard Mobile that enables learners, educators, and communities to access educational topics on mobile devices; TipTxt, a two-way texting service that encourages students to notify school officials of activity; Bb Planner, an application for students to make career/course planning; Blackboard Advise, a web-based tool to help advisors guide their students; K-12 Central that brings together website data, mass notification technology, and third party feeds for K-12 schools and districts; Datacard TruCredential Blackboard, a software suite for creating, issuing, and managing student IDs and credentials; Blackboard Engage that offers learning community management systems; and Blackboard Ally, an accessibility solution. It serves schools, K-12, colleges, corporations, associations, governments, and military markets in the United States and internationally.

Segmentation Overview:

Among different product types, Technical segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Office Workers segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Vocational Training market covered in Chapter 3:

Instructure Inc
Cornerstone OnDemand Inc
Hewlett Packard Enterprise
Saba Software
City & Guilds Group
Oracle Corporation
International Business Machines (IBM)
Capita plc
Blackboard
HealthStream
SSI Investments II Limited
SAP SE
Adobe Systems
Microsoft
Cisco Systems, Inc
Cegos
GP Strategies Corporation

In Chapter 4 and Chapter 14.2, on the basis of types, the Vocational Training market from 2018 to 2029 is primarily split into:

Technical
Non-Technical

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Vocational Training market from 2018 to 2029 covers:

Students
Office Workers

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)