Saudi Arabia Technical And Vocational Education Market Size & Outlook
Saudi Arabia technical and vocational education market, 2018-2030 (US$M)
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Saudi Arabia technical and vocational education market highlights
- The Saudi Arabia technical and vocational education market generated a revenue of USD 10,068.4 million in 2023 and is expected to reach USD 20,591.5 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 10.8% from 2024 to 2030.
- In terms of segment, stem was the largest revenue generating course type in 2023.
- STEM is the most lucrative course type segment registering the fastest growth during the forecast period.
Technical and vocational education market data book summary
| Market revenue in 2023 | USD 10,068.4 million |
| Market revenue in 2030 | USD 20,591.5 million |
| Growth rate | 10.8% (CAGR from 2023 to 2030) |
| Largest segment | Stem |
| Fastest growing segment | STEM |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | STEM, Non-STEM |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 1.4% of the global technical and vocational education market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, UAE technical and vocational education market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 27,562.3 million by 2030.
Stem was the largest segment with a revenue share of 81.74% in 2024. Horizon Databook has segmented the Saudi Arabia technical and vocational education market based on stem, non-stem covering the revenue growth of each sub-segment from 2018 to 2030.
As a result, to strengthen the modern workforce, collective efforts from the public & private sectors are being observed in terms of promoting TVE training (TVET) education and increasing awareness among the students to opt for vocational training programs that could help students learn technical skills and gain practical knowledge.
Low-skilled foreign workers majorly dominate employment across the country’s private sector. The country’s public & private sectors are raising funds to upgrade the existing TVET systems and attract newer students for this course, thus improving employment and reducing dependency on the expatriate workforce.
Furthermore, the private sector provides considerably higher returns on investment for TVET students, which also drives young adults to opt for TVET courses. Moreover, while the country is making considerable efforts in attracting women candidates for TVET courses, there exists a significant gender gap, which is expected to reduce over the forecast period.
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Technical And Vocational Education Market Scope
Technical And Vocational Education Market Companies
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Saudi Arabia technical and vocational education market size, by course type, 2018-2030 (US$M)
Saudi Arabia Technical And Vocational Education Market Outlook Share, 2024 & 2030 (US$M)
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