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The Global professional development market size is estimated to grow at a CAGR of 7.83% between 2022 and 2027 and the size of the market is forecast to increase by USD 21,958.09 million. The report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by type (online and offline), end-user (K-12, higher education, and pre-K-12), and geography (North America, Europe, APAC, South America, the Middle East, and Africa). This report also includes an in-depth analysis of drivers, trends, and challenges.
One of the key factors driving the market growth is the innovations in technology to complement professional development courses. One of the emerging features of the professional development tool is adaptive learning. The main advantage of this feature is that it enables teachers who drive the simulation to observe, react, and adapt to the behavior of students and interact with them via virtual classes. Also, students who are connected virtually are able to respond to the presentation, voice, and body language of the teacher.
Additionally, these professional development platforms are equipped with several tools and social media platforms which can complement the professional development courses of teachers. For example, there are tools that can enhance the interaction between teachers by facilitating teachers to join groups, share resources, discuss various topics, and get feedback to propel professional development. Hence, such factors are expected to drive the professional development market growth during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adobe Inc: The company offers professional development solutions such as Adobe Analytics through Adobe digital learning services.
The professional development market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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APAC is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to companies in North America. One of the main reasons for the significant growth of the professional development market in North America is due to the factors such as increased focus on lifelong learning and skill development by organizations and students. Several professionals from various industries understand the importance of staying updated and competitive in a constantly evolving work environment.
Moreover, a wide variety of courses, certifications, and training programs are offered online by several platforms such as LinkedIn Learning, Udemy, and Coursera in order to meet the demands of various professions. Furthermore, there is an increasing focus on industry-specific conferences, workshops, and seminars which provide chances for networking and focused education. Skillsoft is one of the prominent organizations which offer customized corporate training solutions. The increasing demand for upskilling in various disciplines such as digital marketing, data analysis, project management, and leadership is expected to drive market growth in the region during the forecast period.
The online segment is estimated to witness significant growth during the forecast period. The online segment mainly comprises self-paced, online professional development courses that are generally not restricted to a particular classroom. There is an increasing focus by several market players in the global professional development market for integrating technologies and digital learning platforms into course delivery at learning schedules that are convenient and flexible for educators. Several new technologies such as AI, VR, simulation, and gamification are leveraged to enhance learning engagement and knowledge retention among educators.
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The online segment was the largest segment and was valued at USD 28,121.62 million in 2017. Additionally, this segment minimizes the training ownership cost incurred by organizations due to the availability of online professional development course content and training material in the cloud. The main advantage of this segment is that it enables several organizations to implement and distribute online course content and assignments digitally which can easily be accessed by students and employees through their smart devices such as mobile phones. Hence, such benefits are expected to increase the demand for this segment which in turn will drive the global professional development market growth during the forecast period.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
A key factor shaping the global professional development market growth is the increasing adoption of mobile learning. Professional development is essential for both up-skilling and re-skilling educators and enhancing their professional competence. Due to the increase in smartphone and internet penetration, some of the key players in the market are incorporating mobile learning to improve the delivery of professional development courses.
In addition, the main advantages of mobile learning are that it helps educators to calculate time constraints and enables them to access learning material from any part of the world. Mobile learning in professional development can also improve the collaboration between educators by allowing them to share resources and thoughts efficiently and easily. Furthermore, one of the emerging trends in the global professional development market is the rising use of teleconferencing and distance learning by teachers for the development of skills. Hence, such factors are expected to drive the professional development market growth during the forecast period.
The increasing popularity of open educational resources is one of the key challenges hindering the professional development market growth. The abundant availability of free or low-priced open-source textbooks may decline the demand for professional development courses which in turn can pose a significant threat to the professional development market growth. The easy accessibility and free source of information is another major concern related to professional development courses.
In addition, massive open online courses (MOOCs) are a type of professional development course that offer free online courses on information technology (IT), executive education, and employee development. However, these professional development courses do not offer any certifications. Hence, such factors can negatively impact the market which in turn can hinder the global professional development market growth during the forecast period.
The report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Professional Development Market Customer Landscape
In 2020, during the COVID-19 pandemic, the growth of the global professional development market witnessed significant growth due to the temporary closure of academic institutions, schools, universities, and offices, resulting in an increase in demand for online professional development courses. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of business activities across educational institutions which use professional development services. Such factors are expected to drive the market during the forecast period.
The professional development market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Professional Development Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.83% |
Market growth 2023-2027 |
USD 21,958.09 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.78 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 33% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adobe Inc., Cambridge University Press, Cast Inc., Cisco Systems Inc., City and Guilds Group, Coursera Inc., D2L Corp., Dale Carnegie and Associates Inc., edX LLC, Houghton Mifflin Harcourt Co., John Wiley and Sons Inc., Learning Tree International Inc., McGraw Hill LLC, Microsoft Corp., OpenSesame Inc., Pearson Plc, Scholastic Corp., SkillShare Inc., Skillsoft Corp., and Toastmasters International |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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