NEW YORK, Feb. 5, 2025 -- Report with market evolution powered by AI - The global professional development market in us size is estimated to grow by USD 4.82 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 In US Scope | |
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
The Professional Development market in the US is experiencing significant growth, with a focus on information and skills adoption in various areas such as education, career advancement, and leadership. Companies like Cast Inc., D2L Corp., Pearson Plc., McGraw Hill LLC, and others dominate this landscape, offering a range of products including courses, workshops, seminars, certifications, and coaching. The market is segmented into regions and topics, with K-12 education being a major segment. The addition of mobile learning and online resources has expanded the reach of professional development, impacting both end-users and educators. The competition in this market is fierce, with innovation a key driver for customer loyalty. The size of the market is substantial, with the US industry expected to continue its growth trajectory. The professional development market serves as a vital component of the training industry and education market, providing valuable career training and professional education.
Professional development is an essential aspect for educators to enhance their skills and competence. With the widespread use of smartphones and the Internet, mobile learning has emerged as a viable solution for delivering professional development courses. This approach enables educators to access learning materials at their convenience, bypassing time constraints. Mobile learning also fosters collaboration among educators, allowing them to share resources and ideas effectively and effortlessly. Additionally, the trend of using mobiles for certification and licensure exam preparation presents an opportunity for vendors in the US professional development market to gain a competitive edge and expand their consumer base.
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Market Challenges
• The Professional Development market in the US is a significant segment of the Training and Education industry. This market caters to the growth needs of educators, students, and professionals, offering various courses, workshops, seminars, certifications, and coaching programs. The landscape is diverse, with companies like Cast Inc., D2L Corp., Pearson Plc., McGraw Hill LLC, and others leading the way. Market segmentation includes K-12, Higher Education, and Corporate Training. The market size is substantial, with regions like North America contributing significantly. Topics cover a wide range, from leadership and management to innovation and skills development. The addition of mobile learning and online resources has expanded the reach and accessibility of professional development. The customer landscape is diverse, with end-users seeking career advancement and networking opportunities. Competition is fierce, with innovations in certification programs and customized workshops setting companies apart. Overall, the Professional Development market in the US is poised for growth, with the impact of research and development and the adoption of new technologies shaping its future.
• The professional development market in the US may experience a challenge due to the proliferation of free or low-cost open-source textbooks and readily accessible information online. This trend could potentially decrease the demand for paid professional development courses, impacting the industry's sales revenue negatively. Open educational resources, including textbooks, are classified into various types, such as full open access (gold OA), where the final publication is freely available immediately after publication. The widespread availability of these resources on the internet has reduced the need for expensive education consulting services, posing a significant threat to the professional development market's growth.
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Segment Overview
This professional development market in US report extensively covers market segmentation by
- End-user
- K-12
- Higher Education
- Pre K-12
- Type
- Online
- Offline
- Geography
- North America
1.1 K-12- The K-12 segment of the professional development market in the US is experiencing steady growth due to the evolving education landscape. Traditional K-12 education has primarily focused on individual learning and memorization of information. However, with the shift towards student engagement and collaboration, teachers require digital skills and up-to-date knowledge of effective teaching methods. Time-constrained K-12 educators are turning to online professional development courses for flexibility and customization. However, the complexity of new course content, teaching methods, and education laws can be challenging for teachers, leading to high dropout rates. According to the National Education Association, the K-12 educator dropout rate reached 55% in February 2022. 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 teaching methods. Discovery Education Inc. Announced the addition of new interactive content to its K-12 learning platform to encourage curiosity and deeper engagement. Additionally, ELL professional development courses are popular among teachers to help immigrant students learn English as a second language. The emergence of innovative online tutoring options for K-12 learners is expected to fuel the growth of the professional development market in the US during the forecast period.
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Research Analysis
The professional development market in the US is a dynamic and ever-evolving landscape, driven by the constant need for information, growth, and adoption of new skills and knowledge. This segment encompasses a wide range of products and services designed to enhance the learning and education experience for students and professionals alike. The market is characterized by continuous innovation, with the internet playing a pivotal role in delivering flexible and accessible learning opportunities. Research and development are key drivers of new product offerings, as organizations seek to stay competitive and meet the evolving needs of their workforce. The impact of professional development on individuals and organizations is significant, as it enables employees to acquire new skills, advance their careers, and drive business growth.
Market Research Overview
The Professional Development market in the US is a dynamic and evolving landscape, driven by the growing demand for continuous learning and skills advancement among students, educators, and professionals. This market encompasses a wide range of products and services, including courses, workshops, seminars, certifications, coaching, and online resources. The segment is diverse, with topics spanning from leadership and management to innovation and technology. The market size is significant, with North America being a major contributor, and the US leading the way. The market is segmented based on regions, topics, and end-users, with K-12, higher education, and corporate sectors being key areas of focus. The Professional Development market is driven by the adoption of mobile learning, online resources, and innovative training methods. The competition is intense, with numerous companies offering a variety of products and services. However, the market also presents opportunities for growth and advancement, with networking and career development being key benefits. Market sizing, research, and customer landscape are essential components of the Professional Development market, with companies like Cast Inc., D2L Corp., Pearson Plc., McGraw Hill LLC, and others playing significant roles. The market is expected to continue growing, driven by the increasing importance of professional skills development in the American workforce.
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
- Online
- Offline
- Geography
- North America
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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