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Increasing Workforce Demand along with Technological impact across sectors will drive the demand for Career Skilling Platforms among Graduates in India: Ken Research

  • Lack of tie ups of tier 2, 3 and 4 colleges with Placement Agencies/employers hinder job opportunities among graduates.
  • Annually more than 4 Mn people pursue traditional PG Programs, who require constant job placement support and corporate-ready skills.
  • More than 20K new jobs are created every year in BFSI sector in India.
  • More than 50% of the Workforce will require Re-skilling by 2022 as India’s estimated workforce would be deployed in new jobs that do not exist today.

Increasing Workforce across different Sectors: Workforce across different sectors in India has continuously increased over the years. India is expected to become the 5th largest manufacturing country globally by the year ending 2020.Sector such as FMCG & Retail market is expected to reach a massive $ 1.1 Tn by the year 2021 with major expansion in modern trade channels as compared to traditional. Demand for workforce in all these industries are concentrated in few key cities such as Bangalore, Delhi-NCR, Chennai, Hyderabad, Mumbai and others on account of availability of well-qualified, adequate and low-cost manpower and well-established connectivity to international and domestic cities.

Increasing demand for GIG & Freelancers: India is among the top leading countries at global level in terms of GIG workforce as a result of improving perception of GIG roles among younger age groups in the country. 80% of the working adults believe that freelance work is a viable alternative to full-time employment and they would consider taking up freelance work in the future. Owing to pandemic, there is an increase in the need of freelancers across various sectors domains in different job roles as they are generally skilled or semi-skilled workforce and costs way less than the permanent recruits.

Improving Hiring Intent towards Entry Level Graduates: Hiring intent of Employers across sectors has been constantly increasing over the years. BFSI, BPO, KPO, IT and Manufacturing are the leading sectors in terms of hiring intent of Entry Level graduates in India. Sectors like BPOs / KPOs have proved to be a good career choice for Tier 2 &3 college graduates in India as the sector is rapidly growing and in need of professionals with good communication skills, business aptitude, customer support and data conversion skills. Similarly, employers in BFSI sector are also hiring a major chunk of skilled graduates every year.

Analysts at Ken Research in their latest publication India Career Skilling Landscape: Understanding the Perspective of Students, Working Professional, College and Employers”, by Ken Research suggested the pain points from students in terms of guidance and skill gap, employers in terms of shortage of employable talent and colleges facing problems in placing students. This resulted in huge demand and supply gap in current employment market. Graduates not getting placed created huge demand for career skilling platforms, providing training in terms of required skill sets along with assistance towards their desired jobs. Market is anticipated to grow with increasing number of job opportunities for freshers across different sectors and job roles and improving hiring intent of employers for trained freshers. Re-skilling and Online Certifications market in terms of Revenue is anticipated to register a positive double digit growth rate of 22% during the forecast 2019-2022F.

india-career-skilling-market

Key Segments Covered:-

Demand Supply Gap (Number of Job Seekers and Jobs Available)

Target Addressable Market

Service Addressable Market

Service Obtainable Market

Online Ed-Tech Market (Revenue)

Higher Education

Professional Skilling

Technical Skills

Soft Skills

By Sectors (Employment Workforce)

IT & ITES

Retail & FMCG

Pharma & Healthcare BFSI

Manufacturing

Automobile

Telecom & Allied

BPO, KPO

Others

Companies Covered:-

Major Companies

Eruditus & Emeritus

NIIT

Simplilearn

Upgrad

Great Learning

Talentedge

Coursera

Jaro Education

Edureka

Hughes Global Education

Talent Sprint

Imarticus Learning

Udacity

Edx

Harappa

Mentorica

Key Target Audience:-

Career Skilling Companies

Professional Skilling Companies

Ed-Tech Companies

Independent Investors

Government Ministries

Industry Associations

Universities

Corporate Training Companies

Venture Capital Firms

Key Topics Covered in the Report:-

Pain Points of Graduates, Working Professionals, Colleges, Government and Employers

India Ed-Tech Market by Revenue

India Professional Skilling Market by Revenue

Ecosystem of Major Players in Online Skilling Landscape

Market Share of Major Players in Higher Education & Professional Skilling Market

Target Addressable Market in terms of Career Skilling platform Potential Users

Service Addressable Market in terms of Career Skilling platform Potential Users

Service Obtainable Market in terms of Career Skilling platform Potential Users

Demand and Supply side of Jobs Market

Sector wise Employment Workforce Needs and Demand for Entry Level Recruits

Employer Recruitment Journey

Job Seeker Recruitment and Skill enhancement Journey

Survey Analysis on Job Seekers (Graduates), 0-1 Year Working Professionals and Employers

Snapshot of GIG workforce& Skill Requirements in India

Job Role wise required Skill Sets in India

Analysts’ Recommendations

For More Information on the research report, refer to below link:-

India Career Skilling Market

Related Reports:-

Working Professional & Ed-Tech/University Paradigm Analysis for Online Up-skilling/Re-Skilling Programs during COVID-19 period

India Ed-Tech Driven Career Programs Market Outlook to 2025 – Increasing Technological Capabilities of Ed-Tech Companies to Increase Program Enrolments and Spend in Future

Australia Executive Education Market Outlook to 2024 –Driven by Rising Popularity of Online Education and Launch of Innovative Programs

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Ankur Gupta, Head Marketing & Communications
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