The corporate preparations have also been an effective contrivance for the employee retention which has lent a positive push for the advancement of the market in the respective region. However, the Saudi Arabia has been the largest market for the education services in the Gulf Cooperation Council (GCC) economy and registered for increasing the number of total students’ enrollments in the GCC K-12 education system. The robust government support over the recent past years has led to the unremitting growth of the education segment by inviting private players to welcome the space. The three foremost corporates that superintend the functions of the education market players in the Saudi Arabia are the Ministry of Education, the Ministry of the Higher Education, and the Technical and Vocational Training Corporation (TVTC).
An effective encounter for the Corporate Education Market has been the unapproachability of any speedy measure to instrument the effectiveness of training programs. IT/ITES registered for an enormous percentage of the revenue creation in the market. The nature of the exertion itself demands specialized trainings and the unremitting advancement in the software benefits have further broadened the desires. IT corporates in India have been apportioning months of training at an average price of INR per enrollee. Furthermore, the Telecom has been one of the fastest increasing segments in India, enlarging at the rate of an effective percentage per years and has originated as one of the foremost customer base registering for the handsome percentage of the overall revenue creating in the market.
Nonetheless, the education system in the Kingdom is as per the Education Policy Document, which was dispensed by the Saudi Council of the Ministers in 1969. The numerous organizations of the government also happen together to standardize and implement the laws distressing to the education system in the region. However, the education industry in the Kingdom of the Saudi Arabia persuaded at a double digit CAGR during the forecasted period. One of the foremost causes which boomed the industry revenues during the reviewed period was the postponement of King Abdullah Scholarship Program, (KASP) in 2012, which motivated the number of enrollments to K-12 schools.
Although, in India, the mobile learning is still at a bourgeoning stage and is infrequently utilized as a training tool owing to the connectivity and bandwidth issues in the economy. The Virtual classroom and mobile learning did not had much adhesion and would take some more time to pick up in Indian economy. The domestic corporates in lieu of imitating the MNC philosophy have been effectively contributing regular training programs and positioning augmented budgets for the same.
In addition, in the Kingdom of Saudi Arabia, the overall K-1 Education Industry has been majorly attained by the public schools functioning in the economy. Acceptance of the e-learning in higher education colleges underwritten the mainstream share to the overall industry revenues in the recent past years. The E-learning not only facilitated the authorities in getting admittance to modern curriculum, but also sponsored the students in learning about several other courses that were not accessible in the colleges. Therefore, the market of the Corporate Education Industry will increase more significantly in the near years over the coming years.
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Corporate Education Market
Ankur Gupta, Head Marketing & Communications