US professional development market size estimated to grow by USD 3.75 billion from 2021 to 2026: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio
NEW YORK, Feb. 9, 2023 /PRNewswire/ -- According to Technavio, the US professional development market size is estimated to grow by USD 3.75 billion from 2021 to 2026. The market is expected to grow at a CAGR of 5.52% during the forecast period. Moreover, the growth momentum will accelerate. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the market. For more insights on market size, request a sample report
Professional development market in US - Five forces The professional development market in US is fragmented, and the five forces analysis covers?
Bargaining power of buyers
The threat of new entrants
Threat of rivalry
Bargaining power of suppliers
Threat of substitutes
For an interpretation of Porter's five forces model ? Buy the report!
Professional development market in US ? Customer landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Professional development market in US - Segmentation assessment
Segment overview Technavio has segmented the market based on end-user (k-12, higher education, and pre K-12) and type (online and offline).
The K-12 segment will account for a significant share of the market's growth during the forecast period. These courses improve the skills of k-12 teachers and allow for flexibility in terms of time and customization. New methods of teaching are provided in schools with the help of advanced technologies, changes in curricula, professional training workshops, and seminars. With the emergence of new modes of delivering courses to educators, the professional development market in the US is expected to grow during the forecast period.
Professional development market in US ? Market dynamics Key factor driving market growth
Innovations in technology to complement professional development courses are driving the market growth.
Adaptive learning is a key feature of professional development tools.
In addition, there are numerous tools and social media platforms to complement these courses.
Teachers can join groups, share resources, discuss various topics, and get feedback with the help of engagement tools such as Adobe Education Exchange.
Such innovations will fuel the US professional development market growth during the forecast period.
Leading trends influencing the market
Mobile learning is a key trend in the market.
Mobile learning is being incorporated by key players to enhance the delivery of professional development courses with the increase in the adoption of smartphones and internet penetration.
Mobile learning will enable educators to circumnavigate time constraints and access learning material.
It can also enhance the collaboration between educators by enabling them to share resources and thoughts effectively.
These factors are expected to support market growth during the forecast period.
Major challenges hindering market growth
Time and cost constraints are challenging the market growth.
Small-durations professional development courses, such as workshops with an average of 14 hours or less, have proved to be ineffective in improving teaching skills.
This is because the implementation of new skills requires repeated practice.
Therefore, teachers should engage in structured long-duration professional development courses.
However, the work schedules of teachers do not permit taking part in long-duration professional development courses, and their costs are also high.
These factors will restrict the US professional development market growth during the forecast period.
The size of the professional online courses market in India is expected to increase by USD 2.31 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 15.78%. This report extensively covers segmentation by product (technical courses and non-technical courses) and end-user (individual learners, organizational learners, and institutional learners).
The personal development market is estimated to grow at a CAGR of 8.31% between 2022 and 2027. The size of the market is forecasted to increase by USD 755.16 million. This report extensively covers market segmentation by distribution channel (online and offline), type (self-awareness and skillset enhancement, mental health, and physical health), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
US Professional Development Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 5.52%
Market growth 2022-2026
USD 3.75 billion
Market structure
Fragmented
YoY growth 2021-2022 (%)
4.5
Competitive landscape
Leading vendors, market positioning of vendors, competitive strategies, and industry risks
Key companies profiled
Adobe Inc., Cambridge University Press, Cast Inc., Cisco Systems Inc., City and Guilds Group, D2L Corp., Digital Learning Tree Inc., Discovery Education Inc., Edmodo, GP Strategies Corp., Houghton Mifflin Harcourt Co., John Wiley and Sons Inc., Kagan Publishing and Professional Development, Learners Edge LLC, Learning Tree International Inc., LinkedIn Corp., McGraw Hill Education Inc., Pearson Plc, Scholastic Corp., and Skillsoft Ltd.
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, and 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.
10.8 Kagan Publishing and Professional Development
Exhibit 75: Kagan Publishing and Professional Development - Overview
Exhibit 76: Kagan Publishing and Professional Development - Product / Service
Exhibit 77: Kagan Publishing and Professional Development - Key offerings
10.9 LinkedIn Corp.
Exhibit 78: LinkedIn Corp. - Overview
Exhibit 79: LinkedIn Corp. - Product / Service
Exhibit 80: LinkedIn Corp. - Key offerings
10.10 McGraw Hill Education Inc.
Exhibit 81: McGraw Hill Education Inc. - Overview
Exhibit 82: McGraw Hill Education Inc. - Business segments
Exhibit 83: McGraw Hill Education Inc. - Key offerings
Exhibit 84: McGraw Hill Education Inc. - Segment focus
10.11 Pearson Plc
Exhibit 85: Pearson Plc - Overview
Exhibit 86: Pearson Plc - Business segments
Exhibit 87: Pearson Plc - Key offerings
Exhibit 88: Pearson Plc - Segment focus
10.12 Scholastic Corp.
Exhibit 89: Scholastic Corp. - Overview
Exhibit 90: Scholastic Corp. - Business segments
Exhibit 91: Scholastic Corp. - Key offerings
Exhibit 92: Scholastic Corp. - Segment focus
11 Appendix
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
Exhibit 93: Inclusions checklist
Exhibit 94: Exclusions checklist
11.3 Currency conversion rates for US$
Exhibit 95: Currency conversion rates for US$
11.4 Research methodology
Exhibit 96: Research methodology
Exhibit 97: Validation techniques employed for market sizing
Exhibit 98: Information sources
11.5 List of abbreviations
Exhibit 99: List of abbreviations
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.
Voxtur Analytics Corp. , a North American technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce that it has engaged the services of ICP Securities Inc. ("ICP") to provide automated market...
On April 19, 2024, the board of directors of Portland General Electric Company declared a quarterly common stock dividend of $0.50 per share, representing an increase of 5.3%, or $0.10 per share, on an annualized basis.
The company's dividend is...
Adyton Resources Corporation ("Adyton" or the "Company") announces it has closed its previously announced non-brokered private placement offering, pursuant to which it has issued 50,000,000 common shares of the Company ("Shares") at a price of...
Building on a successful phase one in which STChealth proved that the Universal Patient Identifier (UPI)?powered by Experian Health's Universal Identity Manager (UIM) and NCPDP Standardstm?can accurately identify patients across multiple datasets in...
Lion Group Holding Ltd. ("Lion" or "the Company") , the operator of an all-in-one trading platform that offers a wide spectrum of products and services, today announced that on April 18, 2024, it received a delinquency notification letter from the...
Cosmos Health Inc. ("Cosmos Health" or the "Company'') , a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor...