Professional Development Market to grow by USD 21.95 billion from 2022 to 2027 | The innovations in technology to complement professional development courses drive the market - Technavio
NEW YORK, Sept. 22, 2023 /PRNewswire/ -- The professional development market is estimated to grow by USD 21.95 billion from 2022 to 2027, growing at a CAGR of 7.83%. The professional development market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer professional development market are 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. The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying
By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. APAC will have the largest share of the market.
Download free sample report to get more insights on the market share of various regions and the contribution of the segments.
Impactful driver - The innovations in technology to complement professional development courses are one of the key factors driving market growth.
Key Trend - A key factor shaping the global professional development market growth is the increasing adoption of mobile learning.
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-cost open-source textbooks may lead to a decline in demand for professional development courses, posing a significant threat to the growth of the professional development market. The easy accessibility of free information sources further compounds this concern. Additionally, Massive Open Online Courses (MOOCs) represent a category of professional development courses that provide free online education in areas such as information technology (IT), executive education, and employee development. However, these courses typically do not offer certifications. Consequently, these factors have the potential to adversely affect the market, thereby impeding the growth of the global professional development market during the forecast period.
Technavio Research experts has provided more insights on the market share of segments - View Free Sample Report
The US - professional development market size is estimated to grow at a CAGR of 5.84% between 2022 and 2027. The market size is forecast to increase by USD 4,176.83 million.
The India - professional online courses market size is estimated to grow at a CAGR of 16.24% between 2022 and 2027. The market size is forecast to increase by USD 2,782.59 million.
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
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