Technical and Vocational Education market to reach USD 1,793 billion by 2032, driven by demand for specialized skills.

From GlobeNewswire: 2025-06-02 10:00:00

The Technical and Vocational Education market was valued at USD 737.30 billion in 2023, projected to reach USD 1,793.00 billion by 2032, with a CAGR of 10.43%. Major players include Acumatica, Adobe, Amazon Web Services, IBM, and Coursera. The market is driven by a demand for specialized skills, closing the gap between education and industry needs.

In the U.S., the market was valued at USD 133.49 billion in 2023, expected to reach USD 317.06 billion by 2032, growing at a CAGR of 10.09%. Non-STEM courses are projected to grow at a CAGR of 12.29%, driven by demand in healthcare, business, and creative arts. Online learning is expected to grow at a CAGR of 11.85%.

Academic Institutions & Individuals segment dominated the market in 2023, holding around 73% revenue share. Public organizations accounted for approximately 73% of the market revenue, supported by government initiatives. Europe led the market in 2023, with Asia Pacific set to record the fastest growth at a CAGR of 12.10% between 2024 and 2032.

The growth in Technical and Vocational Education is fueled by the increasing demand for skill-based learning, online platforms making education accessible, and government support for vocational training. Europe’s mature educational systems and Asia Pacific’s rapid industrialization are key drivers of market growth.



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