US-Professional Development Market by End-user, Type and Geography - Forecast and Analysis 2023-2027

US - Professional Development Market Research Report 2023-2027

The US - professional development market size is estimated to grow by USD 4.18 billion at a CAGR of 5.84% between 2022 and 2027. The market trends and analysis report includes historic market data from 2017 to 2021. It also extensively covers market segmentation by end-user (K-12, higher education, and pre-K-12), type (online and offline). This market forecasting report also includes an in-depth analysis of drivers, trends, and challenges.

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.

Overview of the Market in the USA

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Key Players and Market Competition

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 growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• Cast Inc.
• Cisco Systems Inc.
• D2L Corp.
• Deloitte Touche Tohmatsu Ltd.
• Discovery Education Inc.
• Hone Group Inc.
• Houghton Mifflin Harcourt Co.
• John Wiley and Sons Inc.
• Kagan Publishing and Professional Development
• Learners Edge LLC
• Learning Technologies Group Plc
• Learning Tree International Inc.
• McGraw Hill LLC
• Microsoft Corp.
• Pearson Plc
• Project Management Institute Inc.
• Scholastic Corp.
• Skillsoft Corp.
• University of Cambridge

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.

Market Segmentation by Industry

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

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The K-12 segment was the largest segment and was valued at USD 5.58 billion in 2017. 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.

Trends and Growth Drivers in the Industry

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.

Trends

The increasing adoption of mobile learning is a primary trend in the market. The up-and-skilling of educators, as well as the improvement of their professional competence, require development.  With the increase in the adoption of smartphones and Internet penetration, mobile learning should be incorporated by key players to enhance the delivery of courses. Mobile learning will enable educators to circumnavigate time constraints and get access to learning material anytime, anywhere. 

Moreover, there is an emerging trend in learners to use mobiles for certification and licensure exam preparation. This will make it easier for players to gain a competitive edge and increase their customer base in the US market. The growing use of teleconferencing and distance learning by teaching staff to improve skills is another important driver for Mobile Learning in the area of career development. Since the deployment of mobile learning presents market opportunities to players, it is expected that the trend will significantly drive the growth of the market during the forecast period.

Future Outlook and Projections

The future outlook for the industry training market in the United States foresees substantial innovation and growth within the training industry. The education market, particularly professional education and career training, is poised for significant expansion. The American states remain at the forefront of the professional training market, with a focus on enhancing professional skills development. Projections indicate robust industry growth growth, underscoring the American commitment to continuous learning. The U.S. industry market, driven by the demand for corporate training, is expected to lead in shaping the market landscape of professional development, solidifying its role as a global hub for career advancement and skill acquisition.

Challenges and Opportunities in the Market

The unstructured nature of courses is a challenge that affects the growth of the market. Professional development courses have been criticized for lack of structure in preparing teachers with core knowledge about subjects. As for the U.S. training of teachers in terms of intervention and supplementary reading, this will not help. In order to fulfill their needs, the training is not personalized for them and often introduces skills that do not apply to a given field of study. Since learning and development are highly individualized processes, it is essential that the courses are tailor-made as per the needs of the teachers.

Furthermore, the lack of concrete statistical data concerning the impact of professional learning on teachers' and pupils' performance is also an issue in teacher development. Thus, teachers undertake the courses with no clarity about the benefits or effects on their teaching methods and productivity. Thus, such factors will negatively impact the growth of the market in focus during the forecast period.

Government Initiatives and Policies for Workforce Development

The market is undergoing significant growth, propelled by government initiatives and policies for workforce development in North America. As industries evolve, the demand for innovative workshops, seminars, and certifications is rising. The vendor landscape is dynamic, offering diverse content on key topics, reflecting the market trends and market sizing. Areas of advancement encompass leadership coaching, providing valuable resources for individuals seeking career progression. Networking opportunities within the development sphere continue to expand, creating a robust ecosystem for skill enhancement and industry-specific knowledge. Government-driven efforts align with private sector innovations, creating a comprehensive and adaptable framework for workforce development.

Customer Landscape

The market research and growth 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 growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies. 

Customer Landscape

Segment Overview

The market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• End-user Outlook (USD Billion, 2017 - 2027)
  • K-12
  • Higher education
  • Pre K-12

• Type Outlook (USD Billion, 2017 - 2027)
  • Online
  • Offline

US Professional Development Market Scope
Report Coverage	Details
Page number	129
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.84%
Market growth 2023-2027	USD 4.18 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	4.82
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Adobe Inc., Cast Inc., Cisco Systems Inc., D2L Corp., Deloitte Touche Tohmatsu Ltd., Discovery Education Inc., Hone Group Inc., Houghton Mifflin Harcourt Co., John Wiley and Sons Inc., Kagan Publishing and Professional Development, Learners Edge LLC, Learning Technologies Group Plc, Learning Tree International Inc., McGraw Hill LLC, Microsoft Corp., Pearson Plc, Project Management Institute Inc., Scholastic Corp., Skillsoft Corp., and University of Cambridge
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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the market  size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across the US
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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