Enjoy complimentary customisation on priority with our Enterprise License!
The US professional development market size is forecast to increase by USD 4.81 billion at a CAGR of 6.36% between 2023 and 2028. The professional development market is experiencing significant advancements, with technological innovations playing a pivotal role in enhancing learning experiences. STEM education, which focuses on Science, Technology, Engineering, and Mathematics, is increasingly emphasized due to its relevance in today's workforce. Digital and online learning platforms are gaining popularity, offering flexibility and convenience for professionals seeking to upskill or reskill. These technological innovations not only complement but also enrich the content of professional development courses, making them more engaging, interactive, and effective. By embracing these trends, organizations can foster a culture of continuous learning and development, ultimately contributing to a more competitive and innovative workforce.
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 courses such as Adobe Express in the Classroom.
The market report also includes detailed analyses of the competitive landscape of the market and information about key 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 research and growth and 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.
The K-12 segment is estimated to witness significant growth during the forecast period. In traditional K12 education, there has been a focus in recent years on the memorization and individual learning of information as well as an improvement measured by grade attainment. Furthermore, the teaching curriculum was restricted and monotonous
Get a glance at the market contribution of various segments View PDF Sample
The K-12 segment was the largest segment and was valued at USD 5.66 billion in 2018. K-12 educators who teach STEM subjects are focusing development to gain deeper subject knowledge and awareness about new trends, technologies, and teaching methods, such as inquiry-based and experiential learning. Professional courses are also offered to teachers, in addition to adding digital learning into the classroom. These courses are taken to introduce interdisciplinary techniques in STEM education.
The market is a significant segment of the education and training industry, driven by the continuous need for skills improvement and content learning among students and professionals. This market encompasses various products and services designed to facilitate information dissemination and adoption of innovations in different sectors. The impact of the internet on professional development has been substantial, enabling remote learning and training opportunities. The landscape of this market is characterized by continuous growth as organizations recognize the importance of upskilling and reskilling their workforce to stay competitive. The adoption of technology-driven solutions, such as Learning Management Systems (LMS) and Massive Open Online Courses (MOOCs), has accelerated the pace of learning and training. Research and development are crucial components of the professional development market, as they drive the creation of new products and services that cater to the evolving needs of students and professionals. The skills gap in various industries further emphasizes the importance of this market in providing the necessary training and education to bridge the gap. Our researchers analyzed the data with 2023 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.
The growing importance of STEM education is driving the growth of the market. The growing significance of science, technology, engineering, and math education among students worldwide has had a significant impact on the market. Growing job opportunities in the STEM fields are one of the major reasons that are responsible for the increasing popularity of these courses among students globally.
Moreover, STEM job opportunities are expected to outpace the growth of non-STEM job opportunities. Hence, to meet these requirements, there is a strong focus on STEM fundamental education in classrooms around the world from parents, pupils, and other stakeholders of the learning sector. Therefore, students are increasingly opting for professional development training courses at the very start of their secondary education. This is driving the market growth and trends during the forecast period.
The increasing adoption of mobile learning is a primary trend in the market. In the US, the professional development market encompasses seminars, certifications, and coaching aimed at career advancement and skill enhancement for professionals. With the proliferation of smartphones and Internet access, online resources and mobile learning have become essential components. Mobile learning facilitates flexible access to training materials, enabling educators to learn anytime, anywhere. This trend is particularly significant for certification and licensure exam preparation. By incorporating mobile learning, vendors in the US professional development market can expand their consumer base and gain a competitive edge in the training industry. Networking opportunities, leadership development, management training, and innovation are other key areas of focus in this market. American states continue to invest in industry growth, ensuring the professional training market remains a vital sector.
The unstructured nature of courses is a challenge that affects the growth of the market. The market encompasses seminars, certifications, coaching, leadership, management, and innovation programs designed for career advancement and skill development. The industry's growth is influenced by the need for networking and staying updated with the latest trends. However, the easy accessibility to free or low-cost open educational resources online poses a challenge. Open resources, including full open access materials, are increasingly popular, offering an alternative to expensive training subscriptions. This trend may impact the revenue of the professional development market in the US during the forecast period. The market is also affected as professionals turn to online resources for career training and professional education.
The market development analysis 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 market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Corporate Training Market: Corporate Training Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, UK, Germany, Canada, China - Size and Forecast
Professional Development Market: Professional Development Market by Type, End-user and Geography - Forecast and Analysis
Executive Education Program Market: Executive Education Program Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, Canada, India, UK, Germany - Size and Forecast
The market in North America is projected to experience continuous expansion. Traditional K-12 education has historically prioritized the memorization of information, individual learning, and grade-based progress. However, the educational landscape is shifting towards more interactive and collaborative teaching methods. This transition necessitates teachers' acquisition of digital skills and knowledge of effective teaching techniques. Companies like Cast Inc., D2L Corp., Pearson Plc, McGraw Hill LLC, and others offer various courses and products to cater to these needs. The impact of these innovations extends to student engagement, as multimedia and graphic content become increasingly prevalent. Market size and customer landscape are influenced by regions and topics, with competition among companies remaining significant. Teachers require ongoing training to adapt to these changes and stay informed about research-backed teaching methods. Mobile learning is also gaining traction in the K-12 segment.
Market Scope |
|
Report Coverage |
Details |
Page number |
136 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.36% |
Market growth 2024-2028 |
USD 4.81 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.31 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Acacia University, Adobe Inc., Cast Inc., Cisco Systems Inc., D2L Inc., Deloitte Touche Tohmatsu Ltd., Discovery Education Inc., Harvard University, Hone Group Inc., Houghton Mifflin Harcourt Co., John Wiley and Sons Inc., Kagan Publishing and Professional Development, Learning Tree International Inc., McGraw Hill LLC, Microsoft Corp., Penn Graduate School of Education, Project Management Institute Inc., Purdue University, Scholastic Corp., Skillsoft Corp., and UNIVERSITY OF VIRGINIA |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, condition analysis for the market 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. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.