Vocational Rehabilitation Services Global Market Report

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New York, Feb. 08, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Vocational Rehabilitation Services Global Market Report 2022” – https://www.reportlinker.com/p06228490/?utm_source=GNW

The global vocational rehabilitation services market is expected to grow from $80.43 billion in 2021 to $82.72 billion in 2022 at a compound annual growth rate (CAGR) of 2.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $86.61 billion in 2026 at a CAGR of 1.2%.

The vocational rehabilitation services market consists of the sales of vocational rehabilitation services by entities that provide vocational rehabilitation or habilitation services, such as job counseling, job training, and work experience, to unemployed and underemployed people, people with disabilities, and people who have a job market disadvantage because of lack of education, job skill or experience; and training and employment to mentally and physically handicapped people in sheltered workshops.

The main types of vocational rehabilitation services are counseling and guidance, job search and placement assistance, vocational and other training services, evaluation of physical and mental impairments, on-the-job or personal assistance services, interpreter services, occupational licenses, technical assistance for self-employment, supported employment services and others.Occupational licensing is a type of government regulation that requires a license to pursue a specific profession or vocation for a fee.

The services are provided for physical, mental and disabilities that occurred during the job. The various care settings include in-patient and out-patient services.

Organizations operating in the vocational rehabilitation services market are focusing on integrating technology to make the administration work easier, connecting individuals with their counselors, and for the handling of data.For instance, in March 2020, as part of its modernization initiative, Vocational Rehabilitation & Employment (VR&E) launched an Automated Virtual Assistant (e-VA) project.

In November 2019, Puerto Rico Vocational Rehabilitation Administration has invested nearly $6 million in technology to comply with federal regulations and streamlining processes.Moreover, Tyler Technologies’ subsidiary MicroPact, an information technology and services company, is providing case management technology to the Puerto Rico Vocational Rehabilitation Administration.

The new vocational rehabilitation system was based on the entellitrak platform, the only low-code technology development platform for the public sector.

An increase in the number of companies expressing interest in hiring individuals with disabilities is expected to drive the vocational rehabilitation services market.There is a rise in companies recruiting people with disabilities for empowering them and also providing them with a source of income opportunity, which in turn benefits the company with a loyal employee and a diverse workplace.

According to the Bureau of Labor Statistics, 17.9% of individuals with a disability were employed in 2020. In addition to this, in September 2020, Microsoft launched Microsoft Enabler Program in the Asia Pacific for removing the barriers to a more diverse workforce. The Microsoft Enabler Program provides cloud and AI training for the physically impaired and inclusive employment from non-profit organizations serving the physically impaired. Similarly, in 2019, Amazon India partnered with Sol’s ARC, an NGO working towards building learning content for children with disabilities. The collaboration is aimed at creating internship opportunities for individuals with autism and other intellectual disabilities. Such initiatives by organizations aid the growth of the vocational rehabilitation services market as they provide the required pieces of training and skills for people with disabilities making them employable.

The shortage of skilled workers in the vocational rehabilitation (VR) centers is expected to hinder the vocational rehabilitation services market.Proficient workers are needed for training people with disabilities as they require more intense and structured training than people without disability.

According to the Federal Register, the daily journal of the US government, 31 out of 78 VR agencies were unable to serve all eligible individuals due to lack of financial and staff resources, as of October 2019.Furthermore, in October 2019, Mercer University’s College of Professional Advancement received nearly $1 million from the US Department of Education to address the personnel shortage faced by vocational rehabilitation centers in Georgia.

According to the Bureau of Labor Statistics, the shortage of qualified rehabilitation counselors is anticipated to grow by 20% by the end of 2022. This shortage of skilled counselors causes a demand-supply gap, impedes the learning experience of the disabled people, and thereby, hampers the market growth.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the vocational rehabilitation services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

Read the full report: https://www.reportlinker.com/p06228490/?utm_source=GNW

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