Vocational Rehabilitation Services Global Market Report 2020-30: COVID 19 Growth And Change
The Business Research Company’s Vocational Rehabilitation Services Market Report – Opportunities And Strategies – Global Forecast To 2030
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The COVID-19 pandemic disrupted the economy, and thus job security as well. According to TBRC’s vocational rehabilitation services market research, organizations operating in the 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, the Puerto Rico Vocational Rehabilitation Administration had invested nearly $6 million in technology to comply with federal regulations and the streamlining processes. 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.
The global vocational rehabilitation services market size is expected to grow from $86.98 billion in 2019 to $87.15 billion in 2020 at a compound annual growth rate (CAGR) of 0.20%. The slow growth is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $99.04 billion in 2023 at a CAGR of 4.35%.
The global vocational rehabilitation services market is segmented by service into counselling 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, others. it is also segmented by disability into physical, mental, disability occurred during job, and by care settings into in-patient and out-patient.
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