Connect with us

Technology

Professional Development Market Size In US is set to grow by USD 4.81 billion from 2024-2028, Technological innovations that complement professional development courses boost the market, Technavio

Published

on

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.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

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. 

Discover 360° analysis of this market. For complete information, schedule your consultation – Book Here!

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.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This professional development market in US report extensively covers market segmentation by  

End-user 1.1 K-121.2 Higher education1.3 Pre K-12Type 2.1 Online2.2 OfflineGeography 3.1 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 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-userK-12Higher EducationPre K-12TypeOnlineOfflineGeographyNorth 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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/professional-development-market-size-in-us-is-set-to-grow-by-usd-4-81-billion-from-2024-2028–technological-innovations-that-complement-professional-development-courses-boost-the-market-technavio-302207573.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

In 75 years, China has become increasingly prominent in driving global development: Global Times editorial

Published

on

By

BEIJING, Sept. 29, 2024 /PRNewswire/ — The 75th anniversary of the founding of the People’s Republic of China is a momentous occasion, not only for the over 1.4 billion Chinese people but also with global significance and historical importance. 

Over these 75 years, the journey of Chinese modernization has profoundly transformed China and influenced the world, truly realizing that “our work will be written in the annals of human history.” 

This year also marks the 70th anniversary of the Five Principles of Peaceful Coexistence. Amid a changing international landscape, China has steadfastly maintained an independent and peaceful foreign policy, upholding international fairness and justice. As China increasingly approaches global center stage, it continues to make new and greater contributions to the cause of peace and development for humanity.

Seventy-five years ago, when this ancient nation in the East opened a new chapter in its history, the world was just beginning to recover from the devastation of two wars. From a struggling agricultural country, China has evolved into the world’s second-largest economy, the world’s leading manufacturing power, the top trader of goods, and the holder of the largest foreign exchange reserves. This historical elevation in national strength matches China’s significant contributions to global development. 

From 1979 to 2023, China’s average annual contribution to global economic growth reached 24.8 percent, with an average of over 30 percent from 2013 to 2023. For 12 consecutive years, China’s outbound direct investment in foreign countries has ranked among the top three globally, holding over 10 percent of the global share for eight years. China’s “new three items” – electric vehicles, lithium-ion batteries, and solar cells – are facilitating the globe to accelerate their green and low-carbon transitions, while its infrastructure projects span over 190 countries and regions worldwide. Today, averagely speaking, China engages in approximately 80 million yuan ($11.4 million) worth of trade with the world every minute, invests approximately 112 million yuan abroad every hour, and attracts about 3.377 billion yuan in foreign investment daily. The development of China is intricately linked with global progress, achieving mutual success, and driving the world toward greater progress and prosperity.

A great nation with over 5,000-year-old civilization stands majestically in the East, as over 1.4 billion people stride forward on the path to modernization. Such a vast scale itself is one of the main powerful driving forces for the progress of the entire world and human society. The practices of Chinese modernization teaches us that development is the key to solving all problems. China has proposed the Global Development Initiative to support the development and revitalization of countries in the Global South. By the end of 2023, China’s direct investment in countries participating in the Belt and Road Initiative had exceeded $300 billion. Chinese companies have built the first ultra-high voltage direct current transmission line in the Americas, the first electrified railway, the first digital mine, and numerous infrastructure and livelihood projects in Africa, making an indelible contribution to global infrastructure construction.

From “seek knowledge even if you have to go as far as China” to “seek peace even if you have to go as far as China,” peace is a valuable public good that China offers to a turbulent world. Over the past 75 years, China has never initiated any war or conflict and has never occupied an inch of another country’s territory. In the face of numerous international security challenges, China has proposed the Global Security Initiative. It has mediated the reconciliation between Saudi Arabia and Iran, facilitated a historic reconciliation among Palestinian factions, and promoted a political resolution to the crisis in Ukraine. Today, China has become the second-largest contributor to the UN regular budget, the second-largest contributor to peacekeeping operations, and the largest troop-contributing country among the permanent members of the UN Security Council. China has always been committed to promoting world peace and development.

To leave behind achievements worthy of being engraved in world history, a nation and its people must not only be judged by their material accomplishments but also by the amount of spiritual wealth they have contributed. The latter often holds more profound significance than the former. 

In today’s world, where the destinies of nations are closely intertwined, China has proposed the Global Civilization Initiative, advocating cultural exchanges that transcend estrangement, mutual learning that transcends clashes, and coexistence that transcends feelings of superiority. It addresses significant questions, such as how different civilizations can coexist and where human civilization is headed, offering Chinese wisdom and solutions to promote cultural exchanges and the advancement of human civilization.

Over the past 75 years, China has demonstrated an uncommon empathy in the political arena of major powers throughout human history. From proposing the Five Principles of Peaceful Coexistence, emphasizing equality and non-interference in other countries’ internal affairs, to the new era’s initiatives like jointly building the Belt and Road Initiative, building a community with a shared future for mankind, and the promotion of solidarity and cooperation among the Global South, China has advocated that the sovereignty of all countries are equal regardless of size on global arena while showing respect and support for the development of other countries. 

China has provided the worldview of “shared future” and the methodology of “jointly building and win-win cooperation” for all mankind. This is rare in the history of human civilization and is urgently needed in today’s world. 

The 75-year journey through challenges has underscored the invaluable role China plays in global peace, development and progress. The modernization China has promoted, which embodies justice, openness, mutual benefit, people-first policies, diversity, inclusiveness, eco-friendliness, and peace and security, will only become more significant and valuable to the world as time progresses.

View original content:https://www.prnewswire.com/news-releases/in-75-years-china-has-become-increasingly-prominent-in-driving-global-development-global-times-editorial-302261976.html

SOURCE Global Times

Continue Reading

Technology

Xinhua Silk Road: Research project on sustainable development of agriculture and animal husbandry launched with support from Chinese dairy giant Mengniu

Published

on

By

BEIJING, Sept. 29, 2024 /PRNewswire/ — With support from Mengniu public welfare foundation set up by Chinese dairy giant Inner Mongolia Mengniu Dairy (Group) Co., Ltd., China Economic Information Service recently established a research group to carry out studies on how the ecological protection compensation mechanism and the mechanism for realizing the value of ecological products can promote sustainable development of agriculture and animal husbandry.

The research group will first sort out relevant policies and theories on the topic.

Field visits and research then will be conducted in key regions of agriculture and animal husbandry development nationwide. The research group will identify prominent problems that arise in local practices where the two mechanisms are adopted to boost sustainable development of agriculture and animal husbandry and analyze specific causes. The group will also create hypotheses about combining the ecological protection compensation mechanism and the ecological product value realization mechanism to propel agriculture and animal husbandry sustainability.

Finally, the researchers will compile a report based on research results and put forward suggestions.

Founded in 2022, the Mengniu public welfare foundation carry out public welfare and charity activities mainly related to emergency and disaster relief, rural revitalization, nutrition empowerment, and ecological protection.

Original link: https://en.imsilkroad.com/p/342397.html

View original content:https://www.prnewswire.com/news-releases/xinhua-silk-road-research-project-on-sustainable-development-of-agriculture-and-animal-husbandry-launched-with-support-from-chinese-dairy-giant-mengniu-302262001.html

SOURCE Xinhua Silk Road

Continue Reading

Technology

Global Times: Chinese youth increasingly embrace, share millennia-old cultural traditions

Published

on

By

BEIJING, Sept. 29, 2024 /PRNewswire/ — Li Ziyao, a young Chinese student studying in Boston, the US, recently completed Black Myth: Wukong, a game playing based on the classic Chinese novel Journey to the West.

He was excited that this game, rich in traditional cultural elements, has become a sensation in America too. As he observed his American classmates discussing the Monkey King, the architectural styles, and Chinese history, a strong sense of pride surged within him.

“I am witnessing firsthand how Chinese culture is being spread and understood globally in a novel and modern way,” Li told the Global Times.

Culture plays a vital role in inspiring national spirit, maintaining identity, and promoting both economic and personal development.

China’s achievements over the past 75 years are closely tied to its millennia-old culture and cultural confidence. Generations of young people with strong values and ethics worked to develop Chinese culture and present it to the world. 

Chinese civilization has thrived along with the open expression of young people. They relish and discuss with foreign friends China’s traditional culture, allowing it to resonate with international audiences. 

In ancient times, Chinese ancestors sailed the seas along the historical Maritime Silk Road, spreading Chinese culture toward the rest of the world.

Today, young people, especially Generation Z, are using unique ways to share Chinese culture with the world.

Set new trend

Li mentioned that one of the American Twitch streamers he follows, Zack, also known as Asmongold, a content creator with over 2.9 million YouTube subscribers, once commented that Chinese mythology has a natural freshness for Western players, sparking their desire to explore the unknown.

The cultural elements carried by Black Myth: Wukong are also reflected in its music. The game incorporates traditional Chinese melodies from the 1986 hit TV series Journey to the West soundtrack, including the iconic track Celestial Symphony in key scenes.

“Hearing Celestial Symphony evokes me an indescribable feeling of nostalgia. One of my American classmates told me that the music made him feel as if he were immersed in a world filled with the charm of ancient Eastern culture,” Li noted.

With the international success of Celestial Symphony, Li has noticed that many of his classmates have expressed their desire to learn traditional Chinese musical instruments, especially pipa, which embodies unique Chinese aesthetics.

In a recent interview, US musician Lauv commented on the beauty of pipa, while interacting with young pipa player Liu Jialiang, also known as Marsix.

During the interview, Marsix used pipa to perform Lauv’s breakout hit I Like Me Better. Lauv, who is also known as Ari Staprans Leff, is followed by more than 1 million fans on the platform known as X. 

The instrument’s sound, representing Chinese aesthetics, stunned the Western singer and left him with a look of amazement. Marsix’s performance has also revealed how the 2,000-year-old instrument remains versatile in playing global pop music. 

“I was thrilled to share our traditional music culture again,” the young player told the Global Times. He also emphasized that his journey with pipa has always been about “fusion.”

Since 2022, Marsix has been posting remixed pipa music that blends traditional Chinese melodies with Western genres like jazz, hip-hop, and electronic music. 

Through his fusion of traditional Chinese music, Marsix has captured the attention of international fans. On YouTube, netizens commented on Marsix’s performance, saying “the Chinese ‘guitar’ would set a new trend.” 

“I think the traditional instrument is a tool for us young Chinese musicians to express our open-mindedness to world music,” Marsix noted. 

Confident in his cultural roots, the young Chinese musician has also inspired many young fans in China to rediscover the beauty of traditional Chinese music. Marsix told the Global Times that most of his fans are in their 20s, and he hopes to guide them on a journey of rediscovering Chinese culture.

“In the past, the word ‘pipa’ would evoke images of classical performers, but now it represents a trendy instrument played by performers of all ages and genders. Young Chinese musicians are using their creativity to revive the tradition,” Zhu Xiao, a Chinese folk music fan and cucurbit flute player, told the Global Times. 

Dressed in confidence

For many in Generation Z, wearing Hanfu – traditional Chinese dress – is just like playing pipa as a way to reconnect with the cultural root and also a way to express cultural confidence.

Driven by strong curiosity about the world, Chinese storyboard artist Lei Yumeng, better known as Mi Lei, travels between reality and fantasy in her storyboard work. Nearly every piece of work she posts on social media becomes a hit. So far, the Chinese artist has more than 8 million followers on different platforms.

Lei’s love for Chinese culture extends to her admiration for Hanfu. She told the Global Times that through her paintings of Hanfu from various dynasties, she can explore the aesthetics and auspicious intentions of ancient Chinese people, as reflected in the clothing’s patterns and embroidery.

Lei’s embrace of Chinese cultural heritage has been recognized internationally, with her videos on platforms like Instagram earning praise for showcasing traditional clothing. This global appreciation has been a reminder of the richness of her motherland’s unique cultural roots, which she said she “has initially taken for granted.”

Lei said her work in animation and storytelling is a celebration of China’s cultural legacy, a legacy she is “proud to share with the world.”

 

View original content:https://www.prnewswire.com/news-releases/global-times-chinese-youth-increasingly-embrace-share-millennia-old-cultural-traditions-302262003.html

SOURCE Global Times

Continue Reading

Trending