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Industry Landscape
The skilled trades training industry is experiencing significant growth, driven by a widening skills gap and a retiring workforce. Technology, particularly VR and AI, is rapidly transforming traditional training methods, offering more accessible and effective solutions. Increased government and private investment is also fueling innovation and program expansion to meet the high demand for qualified technicians across various sectors.
Total Assets Under Management (AUM)
Number of Skilled Trades Workers in United States
~Approximately 25 million
(3.8% CAGR)
- Construction trades: Steady growth.
- HVAC/Plumbing/Electrical: High demand due to infrastructure and aging workforce.
- Advanced manufacturing/Renewables: Emerging growth areas.
Total Addressable Market
50 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Adaptive Learning
AI algorithms can personalize training content and pace based on individual learner performance, optimizing skill development and retention.
Haptic Feedback VR
Integrating haptic technology into VR simulations allows learners to 'feel' virtual tools and equipment, enhancing the realism and effectiveness of hands-on training.
Augmented Reality (AR) for On-site Training
AR overlays digital information onto real-world environments, enabling technicians to access job aids, schematics, and expert guidance directly on the job site.
Impactful Policy Frameworks
Infrastructure Investment and Jobs Act (IIJA) 2021
This bipartisan act allocates significant federal funding (over $1 trillion) towards improving the nation's infrastructure, including roads, bridges, public transit, water pipes, broadband, and the power grid.
This policy directly increases demand for skilled trades workers in construction, electrical, plumbing, and other infrastructure-related fields, driving the need for expanded and accelerated training programs.
Inflation Reduction Act (IRA) 2022
This act includes substantial investments in clean energy, climate change mitigation, and domestic manufacturing, offering tax credits and incentives for renewable energy deployment and energy efficiency improvements.
The IRA boosts demand for skilled trades professionals in solar, HVAC (heat pumps), and electrical fields, particularly those with expertise in renewable energy and energy-efficient technologies, requiring specialized training.
Department of Labor Apprenticeship Programs Expansion (Ongoing)
The U.S. Department of Labor continues to invest in and promote registered apprenticeship programs across various industries to develop a skilled workforce and provide pathways to good-paying jobs.
These ongoing initiatives encourage businesses to utilize structured apprenticeship models and vocational training, creating a larger pool of potential users for Interplay Learning's platforms and content.
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