India Vocational Training Industry Outlook to 2018- Driven by Rising Demand For Skilled Manpower” presents a comprehensive analysis of the industry covering market size and market segmentation by types of courses in revenue terms and number of students enrolled by different courses, by gender, by states/region and by age group. The report also entails a detailed description on the recent trends and developments in the market and competitive scenario of major players in the industry along with future projections of the Vocational Training Market in India.
Vocational training provides the trade specific skills that are imparted at different levels, such as- secondary level, senior secondary level and the higher education level (post school). The main objective of vocational training is to fill in the gap between the demand for skilled manpower and the actual number of skilled manpower in the country. The vocational training market in India has been rapidly growing in the past few years driven by the Government initiatives with respect to skill development and the increase in the public as well as private investments in education.
The market for vocational training has been growing at a steady rate of nearly 25% from FY’2008-FY’2013. The revenues have increased from INR ~ million in FY’2012 to INR ~ million in FY’2013. The number of students enrolled has increased in the past three years from ~ in FY’2011 to ~ in FY’2013. There was nearly a 15.7% increase in the enrollments from FY’2011 to FY’2012.
There are a number of courses being offered across different sectors. English Training Courses have been the most popular amongst the vocational courses in India. This contributes nearly ~% to the total revenue of the Vocational Training Market in India in FY’2013. The other prominent sectors are Wellness & Healthcare, Retail, Hospitality and others. The market has also been segmented on the basis of number of student enrolments by gender, age groups, different courses offered and others.
Vocational Training is being provided by Public as well as Private Institutes. Some of the major private players providing vocational training are NIIT, Centum Learning, Everonn, Global Talent Track, IndiaCan and others.
The vocational training market in India is expected to grow at a CAGR of 14.5% during FY’2013-FY’2018. This growth is in line with the future goal of the government to up skill nearly 500 million people by 2022. The projections have been made on the basis of the total revenue and total number of students enrolled in the vocational courses. The revenue generated by the Indian Vocational Training Market is projected to reach INR ~ million by FY’2018 from INR ~ million in FY’2013.