According to the education market research report, people aware about increase in skill mismatches, therefore, corporate and individual learners are increasing their investments in technical and vocational education. The education sector is based on long-lived traditions and follows a strict code of rules. Primary education and secondary education institutions are publicly-funded. If we talk about European countries, students in the UK until the age of sixteen years are entitled to a free place at a state school compared to the private education sector which is expensive. There are four main types of state schools in the UK such as the community school, foundation school, trust school and voluntary-aided schools. Community school is run by the local authority and is linked with the local community which also offer childcare and adult learning classes. Foundation schools are self-run school that employs the staff and has its own admissions criteria. Trust school is another type of foundation school which forms a charitable trust with an outside partner. Voluntary-aided schools are religious schools run by the local authority.
Secondary-school education starts at the age of 11 to 14 and are educated on various subjects such as English, Maths, Science, Design and Technology, Information and Communication Technology (ICT), History, Geography, Modern Foreign Languages, Art and Design, Music, Citizenship, Physical Education, Careers education and guidance, Sex and Relationship Education and Religious education. After graduating from the secondary school, students may choose to either leave school or continue with their education. They may continue at vocational or technical colleges, or pursue higher education in various universities.
The market for technical and vocational education has witnessed a steady growth over the recent years. People are interested in technical and vocational courses, thereby; institutions are employing more workforce in this sector. The increase in digitization in technical and vocational education with advanced technology, many of the trainers are improving the delivery of vocational and technical education through online and offline platforms. Classroom-based training is still the dominant method of teaching in UK rather than online training. PCs, tablets and smartphones are used to improve distance learning programs. The increase in technology in technical and vocational training has motivated the large chunk of the population to use educational software solutions, virtual learning platforms, simulations, and interactive multimedia content in the education market.
According to “Education Business Review”, education market is constantly growing due to the increase in public and private institutions, ministries of education, government agencies, and educational and testing companies. There is a stiff competition between public and private educational institutes with an intention to draw faculty, students, research funds, and business partners for association. Increased in internet penetration, internet connectivity, privacy of cloud based resources, replacement of device based computing, personalization of technology, introduction of mutual and online learning are the key factors driving the education market in the country. Agreements, partnership, new technological developments and ease of deployment are the major opportunities for education market. Thus, the increasing competition is mounting high pressure on already established universities’ business models.
Software solutions provided in the education market are segmented into campus technology, data security and compliance, student and curriculum, performance management, content and collaboration and other solutions. Various hardware devices that are technological advanced in education market are tablets, PCs, projectors, interactive white boards, and printers which play an important role in enabling educators and student to capture leading opportunities. The other services offered in an education market are consulting, advisory, implementation, training and other support services. Education market is segmented into private colleges, community colleges and state universities.
Education industry has doubled over the recent years due to huge support for research functions in higher education institutions. Primary, secondary, and higher education institutions are getting public support that helps to manage with possible fluctuations in revenue caused by Brexit. Increase in the higher education cost, decreased government funding and difficulty in adopting server based computing may pose major challenges in the education market over the next few years.
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Ankur Gupta, Head Marketing & Communications