Over the last decade, the demand for tech talent has been on the rise worldwide because of accelerated advancements in the field of digital technologies.
While the need for skilled professionals is increasing exponentially, colleges and universities are failing to supply the required number of graduates to meet the growing demand. For this reason, the technology sector is facing a severe talent shortage, with thousands of positions in programming, development, UI/UX design, and data-oriented roles remaining unfilled.
According to a report, the United States has half a million vacancies in computing jobs, whereas US universities produce only 65,000 graduates per year.
Thankfully, a new model of education — online technology learning bootcamp— is emerging as an alternative solution, enabling organizations to address the skill crisis
Offering employment-focused, short-term, and flexible learning programs, online bootcamps are gaining widespread acceptance by top multinational companies in recent years.
From tech firms to financial services, and retail chains, organizations of all backgrounds and sizes are putting less emphasis on college/university degrees and instead are preferring online bootcamps for talent acquisition.
This is because, in contrast to academic education, online bootcamp learning programs are more relevant to in-demand job positions, as these programs primarily focus on technical and practical skills.
What is an Online Bootcamp?
Online bootcamps are accelerated, intensive study programs that enable students to learn the in-demand tech skills sought by recruiters.
From Data Science to UX/UI Design, Full-Stack Development to Cybersecurity, and Digital Marketing, there are a variety of certification courses that both freshers and employees can pursue.
Since the launch of the first bootcamp in 2012, the online bootcamp industry has grown to a 309-million-dollar sector, recording a phenomenal growth of 171 percent.
There are multiple factors contributing to the dramatic upswing of online bootcamps, but the two most important reasons are blended-learning and the short duration of the courses.
Skill development programs offered to students by an online bootcamp range from 12 to 48 weeks and blended learning provides the much-desired flexibility, allowing them to learn without the need to relocate or give up their existing jobs.
History of Online Bootcamp
In the early 2010s, there were only a few online bootcamps in the United States. In the second half of the 2010s, online bootcamps started gaining mainstream popularity. By the end of the 2010s, students graduating from online bootcamps outnumbered college/university CS graduates.
Between 2012 and 2019, the sector recorded significant growth, mainly because online learning bootcamp programs provided students with skills that employers required, besides offering increased accessibility, affordability, and speed.
Existing within the 1.1-trillion-dollar Certifications, Apprenticeships, and Workforce Training industry, the online bootcamp sector is now worth $47 billion, as per the latest available data.