ALBANY, New York, July 21, 2016 – Market Research Hub has added a new report, titled ‘Technical and Vocational Education Market in North America 2016-2020,’ to its offering. This study provides an extensive analysis on the market and is collated by conducting both primary and secondary research. The current state of the North America technical and vocational education market and its predicted state by the end of 2020 have been presented in the report. The major vendors operating in this market and their key contributions in the market have also been presented under this study.
As stated in the report, the technical and vocational education market in North America is predicted to expand at a 4.13% CAGR from 2016 to 2020. The report starts by presenting an introduction to the market. Under this section, the education market and the technical and vocational education market within North America have been evaluated.
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As stated in the report, a number of cutting-edge technologies for the creation of content and its delivery have been adopted in the technical and vocational education market in North America. This is further enabling collaboration amongst learners and trainers within the region. In addition, due to the increasing utilization of the Internet, a number of students within North America are utilizing training methods such as blended learning, gamification, and mobile learning, thus positively impacting the growth of the market in this region.
Moving further, the segmentation of the market has been presented. On the basis of product, the market is segmented into non-technical TVE and STEM TVE. Amongst these, the segment of STEM TVE is predicted to lead the North America technical and vocational education market with a majority share through the forecast horizon. The soaring demand for STEM TVE in the HVAC, automotive, aeronautics, and electronics industries will boost its use in North America in the coming four years. On the basis of country, the report segments the market into Canada and the U.S.
In the next section of the report, the major factors propelling and inhibiting the development of the technical and vocational education market in North America have been presented. The growing awareness about the increasing skill gap will result in investments in technical and vocational education in North America. In addition, the increasing preference given to private training institutes by a number of aspirants looking to acquire specialized skills and training will also provide impetus to the growth of this market in North America by the end of 2020. However, the rising menace of corporate training institutes may impede the growth of this market in North America.
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In the last part of the report, the vendor landscape of the market has been covered. As stated in the report, a number of vendors in North America are employing online collaboration tools and simulations for delivering vocational skill courses to students via e-learning platforms, thus stimulating the growth of this market in this region. As per the report, the major vendors operating in the North America technical and vocational education market are Acumen Global Training, City and Guilds, CfPA, SAP, Canadian Vocational Training Center, CLC Technical Training, CleanEdison, CORE Education & Technologies, Unitek Information Systems, and VMEdu, among others.
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