About the Vocational Training Market in GCC
Governments, as well as businesses, are increasingly engaging in investments and partnerships to improve the future of vocational training. This should have a significant impact on the public as well as private vocational training providers in GCC. In GCC, vocational training is primarily pursued by students after the completion of school education, as well as by employees in corporate organizations who want to upskill themselves to compete with expatriates.The construction sector is one of the largest employers in GCC. The majority of employment in the sector is either low-paid or requires skills in architecture and engineering. In order to fill jobs that require specialization in these skills, expatriates are given more preference. There has been a tremendous technological improvement in the construction sector, across the globe, in terms of greater automation with technologies involving 3-D printing of buildings. There will be a rise in demand for high-paying jobs, which require more job-specific task proficiency, during the forecast period.
Technavio’s analysts forecast the vocational training market in GCC to grow at a CAGR of 13.32% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the vocational training market in GCC. To calculate the market size, Technavio considers the revenue generated from delivering vocational training by public and private training institutions to individual customers. The report also considers the revenue generated by entering into business agreements with organizations to provide apprenticeship programs. The market is divided into the following segments based on regions:
Technavio Announces the Publication of its Research Report – Vocational Training Market in GCC 2016-2020
Technavio recognizes the following companies as the key players in the vocational training market in GCC: ADVETI, NIVE, Qatar Skills Academy, and TVTC.
Other Prominent Vendors in the market are: Applied Technology, Higher Colleges of Technology, Public Authority for Applied Education & Training, Kuwait Investment Authority, Luminus, and TAFE SA International.
Commenting on the report, an analyst from Technavio’s team said: “One trend spurring the prospects for market growth is the diversification of the region’s economy. GCC has been investing in non-oil sectors such as healthcare, infrastructure, and education over the years to create a sustainable economy by reducing dependency on oil and promoting the growth of other sectors. In order to propel the diversification of the economy, it is essential that the young nationals are provided the means to attain skills and education to sustain themselves in industries of the future.”
According to the report, one driver leading to the growth of this market is the upsurge in employment in the construction sector. The construction sector is one of the largest employers in GCC. The majority of employment in the sector is either low-paid or requires skills in architecture and engineering. In order to fill jobs that require specialization in these skills, expatriates are given more preference. For instance, nearly 30% of the employment in Qatar is in construction; but less than 1% of Qatar nationals work in this sector.
Further, the report states that one challenge hampering this market’s growth prospects is the poor targeting of vocational training programs. The youth in GCC is a heterogeneous group, with different subgroups facing various constraints that hinder their progress in the labor market and employability. While some perceive their qualifications are inadequate for employment readiness, some graduates feel that they are overqualified for the jobs offered to them. Thus, it is essential that vocational training providers customize their programs as per the diverse needs of their target customers.
ADVETI, NIVE, Qatar Skills Academy, TVTC, Applied Technology, Higher Colleges of Technology, Public Authority for Applied Education & Training, Kuwait Investment Authority, Luminus, TAFE SA International.
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