Subject: MRR
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.
What are the key data covered in this US professional development market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the professional development market in US between 2022 and 2026
- Precise estimation of the size of the professional development market and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of US professional development market vendors
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Related Reports:
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. |
Browse for Technavio's consumer discretionary market reports
Table of contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary ? Chart on Market Overview
- Exhibit 02: Executive Summary ? Data Table on Market Overview
- Exhibit 03: Executive Summary ? Chart on Country Market Characteristics
- Exhibit 04: Executive Summary ? Chart on Market Segmentation by End-user
- Exhibit 05: Executive Summary ? Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 07: Parent market
- Exhibit 08: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 09: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 10: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 11: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 12: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 13: Chart on US: Year-over-year growth 2021-2026 (%)
- Exhibit 14: Data Table on US: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 15: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 16: Chart on Bargaining power of buyers ? Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 17: Bargaining power of suppliers ? Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 18: Threat of new entrants ? Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 19: Threat of substitutes ? Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 20: Threat of rivalry ? Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 21: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by End-user
- 5.1 Market segments
- Exhibit 22: Chart on End-user - Market share 2021-2026 (%)
- Exhibit 23: Data Table on End-user - Market share 2021-2026 (%)
- 5.2 Comparison by End-user
- Exhibit 24: Chart on Comparison by End-user
- Exhibit 25: Data Table on Comparison by End-user
- 5.3 K-12 - Market size and forecast 2021-2026
- Exhibit 26: Chart on K-12 - Market size and forecast 2021-2026 ($ million)
- Exhibit 27: Data Table on K-12 - Market size and forecast 2021-2026 ($ million)
- Exhibit 28: Chart on K-12 - Year-over-year growth 2021-2026 (%)
- Exhibit 29: Data Table on K-12 - Year-over-year growth 2021-2026 (%)
- 5.4 Higher education - Market size and forecast 2021-2026
- Exhibit 30: Chart on Higher education - Market size and forecast 2021-2026 ($ million)
- Exhibit 31: Data Table on Higher education - Market size and forecast 2021-2026 ($ million)
- Exhibit 32: Chart on Higher education - Year-over-year growth 2021-2026 (%)
- Exhibit 33: Data Table on Higher education - Year-over-year growth 2021-2026 (%)
- 5.5 Pre K-12 - Market size and forecast 2021-2026
- Exhibit 34: Chart on Pre K-12 - Market size and forecast 2021-2026 ($ million)
- Exhibit 35: Data Table on Pre K-12 - Market size and forecast 2021-2026 ($ million)
- Exhibit 36: Chart on Pre K-12 - Year-over-year growth 2021-2026 (%)
- Exhibit 37: Data Table on Pre K-12 - Year-over-year growth 2021-2026 (%)
- 5.6 Market opportunity by End-user
- Exhibit 38: Market opportunity by End-user ($ million)
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 39: Chart on Type - Market share 2021-2026 (%)
- Exhibit 40: Data Table on Type - Market share 2021-2026 (%)
- 6.2 Comparison by Type
- Exhibit 41: Chart on Comparison by Type
- Exhibit 42: Data Table on Comparison by Type
- 6.3 Online - Market size and forecast 2021-2026
- Exhibit 43: Chart on Online - Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Data Table on Online - Market size and forecast 2021-2026 ($ million)
- Exhibit 45: Chart on Online - Year-over-year growth 2021-2026 (%)
- Exhibit 46: Data Table on Online - Year-over-year growth 2021-2026 (%)
- 6.4 Offline - Market size and forecast 2021-2026
- Exhibit 47: Chart on Offline - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Data Table on Offline - Market size and forecast 2021-2026 ($ million)
- Exhibit 49: Chart on Offline - Year-over-year growth 2021-2026 (%)
- Exhibit 50: Data Table on Offline - Year-over-year growth 2021-2026 (%)
- 6.5 Market opportunity by Type
- Exhibit 51: Market opportunity by Type ($ million)
7 Customer Landscape
- 7.1 Customer landscape overview
- Exhibit 52: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 53: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 54: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 55: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 56: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 57: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 58: Matrix on vendor position and classification
- 10.3 Cambridge University Press
- Exhibit 59: Cambridge University Press - Overview
- Exhibit 60: Cambridge University Press - Product / Service
- Exhibit 61: Cambridge University Press - Key offerings
- 10.4 Cast Inc.
- Exhibit 62: Cast Inc. - Overview
- Exhibit 63: Cast Inc. - Product / Service
- Exhibit 64: Cast Inc. - Key offerings
- 10.5 Discovery Education Inc.
- Exhibit 65: Discovery Education Inc. - Overview
- Exhibit 66: Discovery Education Inc. - Product / Service
- Exhibit 67: Discovery Education Inc. - Key offerings
- 10.6 Edmodo
- Exhibit 68: Edmodo - Overview
- Exhibit 69: Edmodo - Product / Service
- Exhibit 70: Edmodo - Key offerings
- 10.7 Houghton Mifflin Harcourt Co.
- Exhibit 71: Houghton Mifflin Harcourt Co. - Overview
- Exhibit 72: Houghton Mifflin Harcourt Co. - Business segments
- Exhibit 73: Houghton Mifflin Harcourt Co. - Key offerings
- Exhibit 74: Houghton Mifflin Harcourt Co. - Segment focus
- 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.
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