Vocational training in GCC: Key market research findings
- Saudi Arabia dominates the market geographically
- Technical vocational training accounts for a majority share of the market’s revenue
- Key vendors – ADVETI, NIVE, Qatar Skills Academy, and TVTC
Technavio’s market research analysts predict the vocational training market in GCC to grow at a CAGR of more than 14% between 2016 and 2020. The extensive demand for the skilled blue-collar workforce is the primary driving force behind the growth of this market. GCC is currently undergoing an urgent need to develop a workforce with technical skills primarily in industries like oil and gas, healthcare, construction, logistics, and hospitality. At present, Saudi Arabia dominates the vocational training market in GCC with a market share of close to 84%. The government support to develop its human resources is expected to further fuel growth in this segment during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the vocational training segments based on the product.
“Diversification of the economy is an upcoming trend in the vocational education market in GCC. Diversification has become a national priority in GCC countries to ensure the social and economic stability because of the recent fluctuations in oil prices. This involves the recycling of oil revenues into new profitable sectors such as construction, telecommunications, transport, and manufacturing,” says Jhansi Mary, Lead Analyst, Education, Technavio Research.
During 2015, the technical vocational training segment was the key revenue generator in the vocational training market in GCC with a market share of more than 75%. The growth of this segment is augmented by the rising demand for skilled workforce from sectors such as construction, healthcare, and oil and gas as well as emerging sectors like financial services and IT. Furthermore, improvements in vocational education in the region are also expected to lead to a rise in the proportion of nationals being employed in technical private sector jobs.
The key vendors in the vocational training market in GCC include ADVETI, NIVE, Qatar Skills Academy, and TVTC. Public vocational training will primarily be propelled by government initiatives. The market will witness the emergence of private vocational training providers during the forecast period. The market will also witness the incorporation of innovative technologies like blended learning and e-learning platforms to improve the delivery of vocational training and this will intensify the competitive environment in this market in the coming years. To gain a considerable share of the market, vendors will start to concentrate on improving their service offerings by expanding the portfolio of subjects and focus areas in their vocational training courses.
A more detailed analysis is available in the Technavio report, Vocational training Market in GCC 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
