Technical and Vocational Education and Training in Australia Industry Market Research Report Now Updated by IBISWorld

Over the past five years, the Technical and Vocational Education and Training industry has lost market share to universities as more undergraduate places were made available. For this reason, industry research firm IBISWorld has updated its report on the Technical and Vocational Education and Training industry in Australia.

Melbourne, Australia (PRWEB) April 20, 2014

The Technical and Vocational Education and Training industry in Australia has grown over the past five years. Publicly funded vocational education and training (VET) is provided by many institutions, including publicly funded TAFE institutions, universities with TAFE divisions, various government institutions, schools, community providers and private providers. In 2012, 1.9 million people were enrolled in publicly funded VET programs. Most students (about two-thirds of the total) attend courses provided by TAFEs and other government providers, but private sector operators have grown in importance over the past five years. According to IBISWorld industry analyst Lauren Magner, Ttheir share of student enrolments doubled between 2008 and 2012 (to over 28.0%), as state governments pursued an increasingly market-based approach that opened the industry to more non-government operators.”

Over the five years through 2013-14, industry revenue is forecast to grow by an annual rate of 1.9% to reach $9.6 billion. The primary sources of income are government funding and student fees. In the years leading up to 2009-10, income from private sources increased at a much faster rate than government funding. “This was due to increased demand for vocational education following the global financial crisis as higher levels of unemployment prompted many people to upskill,” says Magner. However, a large decline in international student enrolments in the years following 2010 reversed this trend. In addition, government reforms in the higher education industry created more available places in undergraduate programs, and with an increasing preference for higher qualifications, TAFE providers have lost market share to universities. The industry exhibits a lows level of market share concentration with no major players.

Technical and Vocational Education and Training industry revenue is forecast to grow by 1.8% in 2013-14. International enrolments are expected to slowly return to growth as the Australian dollar weakens and conditions for overseas students improve. The continued trend of upskilling will drive enrolment growth over the next five years. However, TAFE institutions are anticipated to face intensifying competition from universities and other higher education providers as the trend towards students seeking higher qualifications persists.

For more information, visit IBISWorld's Technical and Vocational Education and Training report in Australia industry page.

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IBISWorld industry Report Key Topics

This industry includes technical and vocational education and training delivered by Registered Training Organisations (RTOs). The RTOs include TAFE institutes, dual-sector institutions, enterprises and other private and community providers.
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognised as the nation's most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.

For the original version on PRWeb visit: http://www.prweb.com/releases/2014/04/prweb11772718.htm