- 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.
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:-
Related Reports:-
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