NEW YORK, July 29, 2024 /PRNewswire/ -- The professional
development market size in US is estimated to grow by USD 4.81 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of 6.36%
during the forecast period. Technological innovations that
complement professional development courses is driving market
growth, with a trend towards increasing adoption of mobile
learning. However, increasing popularity of open educational
resources poses a challenge. Key market players include 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.
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Professional
Development Market Scope In US
|
Report
Coverage
|
Details
|
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 4819.7
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
5.31
|
Regional
analysis
|
US
|
Performing market
contribution
|
North America at
100%
|
Key
countries
|
US
|
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 Driver
Professional development is a crucial aspect for educators to
upskill and reskill, enhancing their competence. With the
widespread use of smartphones and the Internet, mobile learning is
an essential addition for professional development providers in the
US market. Mobile learning enables educators to access learning
materials anytime, anywhere, overcoming time constraints. It also
fosters collaboration through resource sharing and communication.
The trend of using mobiles for certification and licensure exam
preparation is growing, offering vendors a competitive edge and
expanding consumer base. Mobile learning can be implemented as a
blended option or a replacement for traditional learning methods.
Additionally, the increasing adoption of teleconferencing and
distance learning by teachers for skill enhancement further propels
mobile learning in professional development. This trend is
anticipated to significantly impact the US professional development
market during the forecast period.
The Professional Development market in the US is a significant
segment of the Training Industry and Education Market, focusing on
helping students and educators enhance their skills and advance
their careers. Major companies like Cast Inc., D2L Corp., Pearson
Plc, McGraw Hill LLC, and others dominate this market. Market size
varies by region and topics, with mobile learning and certification
programs popular choices. The customer landscape includes K-12
educators, professionals seeking career advancement, and businesses
investing in employee training. Research indicates continuous
growth in this market, driven by the need for innovation in
leadership, management, and coaching. Competition is fierce, with
companies offering workshops, seminars, online resources, and
certifications to meet diverse customer needs. Market sizing
reports provide insights into the size and trends of this dynamic
market.
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Market Challenges
- The professional development market in the US may experience a
challenge due to the increasing availability of free or low-cost
open educational resources. These resources, which include full
open access (gold OA), delayed open access (gold OA), and open
access via self-archiving (green OA), are freely accessible online
and can reduce the demand for professional development courses.
Additionally, massive open online courses (MOOCs) offer free IT
courses, executive education, and employee development, provided by
renowned institutions worldwide. While these courses offer
flexibility and affordability, they do not always provide
certification. Consequently, the availability of free online
resources negatively impacts professional development vendors,
potentially hindering market growth during the forecast
period.
- The US professional development market, also known as the
American training industry, is a significant area of growth in the
U.S. Industry landscape. This market encompasses professional
education, career training, and industry training. The market's
growth is driven by the increasing demand for professional skills
development in various industries and American states. The market
offers a wide range of products, including courses and content, to
meet the learning needs of professionals. However, challenges
persist, such as the adoption of new innovations and information
delivery methods, and the impact of economic conditions on industry
training budgets. Despite these challenges, the professional
training market in North America
continues to evolve, offering opportunities for both providers and
learners.
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challenges - Request a sample report!
Segment Overview
This professional development market in US report extensively
covers market segmentation by
- End-user
- 1.1 K-12
- 1.2 Higher education
- 1.3 Pre K-12
- Type
- Geography
1.1 K-12- The K-12
segment of the professional development market in the US is
experiencing steady growth due to the evolving educational
landscape. Traditional K-12 education has historically focused on
individual learning and memorization, but there is a shift towards
student engagement, collaboration, and multimedia instruction. To
effectively implement these new teaching methods, K-12 teachers
require digital skills and knowledge of research-backed techniques.
Due to time constraints, many teachers opt for online professional
development courses for flexibility and customization. However, the
complexity of new course content, teaching methods, and education
laws can be challenging for educators, leading to high dropout
rates. In 2022, the National Education Association reported a 55%
dropout rate for educators. To mitigate this issue, districts are
reimbursing teachers for professional development expenses. In STEM
education, teachers seek deeper subject knowledge and awareness of
new trends and technologies through professional development.
Discovery Education Inc. Is an example of a platform providing
interactive content, games, and career tools for K-12 educators.
Additionally, ELL professional development courses help immigrant
students learn English. The emergence of innovative K-12 online
tutoring options is expected to fuel market growth during the
forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Healthcare Education Solutions Market is projected to
grow significantly, driven by advancements in medical technology
and the increasing demand for skilled healthcare professionals.
Meanwhile, the global Corporate Leadership Training Market is
experiencing robust growth due to the rising need for effective
leadership in a rapidly changing business environment. Both markets
are expected to see continued investment and innovation, with key
players focusing on integrating advanced technologies and
personalized learning approaches to enhance training efficacy and
outcomes.
Research Analysis
The professional development market in the US is a dynamic
landscape driven by the need for continuous learning and skills
acquisition in today's rapidly evolving business environment. This
segment encompasses a wide range of products and services designed
to facilitate information dissemination, growth, and adoption of
new ideas and technologies. From online courses and e-learning
platforms to research reports and conferences, the market offers a
wealth of content tailored to meet the diverse learning needs of
students, educators, and businesses. Innovations such as artificial
intelligence, virtual reality, and gamification are transforming
the way we learn and train, making professional development more
accessible, engaging, and effective than ever before. The internet
has played a pivotal role in expanding the reach and impact of
professional development, making it an indispensable tool for
individuals and organizations seeking to stay competitive in their
respective industries.
Market Research Overview
The Professional Development market in the US is a dynamic and
growing landscape, driven by the need for continuous learning and
skills advancement in various industries and educational sectors.
This market encompasses a wide range of products and services,
including courses, workshops, seminars, certifications, coaching,
and online resources. The market is segmented by regions, topics,
and end-users, with significant growth observed in areas like
mobile learning, leadership, management, innovation, and K-12
education. The US Professional Development market is a large and
diverse industry, with a customer landscape that includes
educators, students, and professionals seeking career advancement
and networking opportunities. Market sizing and research indicate
continued growth in this segment, with key topics and innovations
shaping the market's direction. The competition is fierce, with
companies offering a variety of solutions to meet the diverse needs
of their customers. The US Professional Development market is an
essential component of the Training Industry, Education Market, and
Career Development sectors, with a significant impact on the
American workforce and economy.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- K-12
- Higher Education
- Pre K-12
- Type
-
- Geography
-
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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