Professional Certificates are a type of credential, typically delivered by an industry body, to demonstrate/acknowledge/verify a person’s ability to perform a job-related function. This definition includes professional certificates offered through institutions (CFA, PMI) and online study courses (Kaplan, Becker).
Data includes revenue figures in Gross Merchandise Value (GMV), Users, average revenue per user (ARPU), and user penetration rate. User and revenue figures represent B2C services.
Professional certifications offered through professional institutions (CPA, CFA, PMP)
Companies offering online study prep strictly for a professional certification (BARBRI, Kaplan, Becker)
Micro and alternative credentials offered through third-party platforms (Udacity nanodegrees, Coursera specializations, Udemy certificates)
Study prep offered by third-party platforms (Udemy, Coursera, edX).
The professional certificates segment is currently facing several major trends and issues. Firstly, the increasing demand for skilled professionals in the job market has led to a growing trend towards continuous learning and professional development. Secondly, the shift towards online learning due to the COVID-19 pandemic has resulted in an increase in demand for online professional certificate programs. Thirdly, there is a growing trend towards alternative credentials, with professional certificates increasingly being recognized as a viable alternative to traditional degrees.The effects of these trends are seen in the numbers, with the global professional certificates market expected to reach $300 billion by 2025, growing at a compound annual growth rate of approximately 10%. Additionally, the number of individuals enrolled in professional certificate programs has increased significantly in the past year, as individuals seek to upskill and advance their careers.Going forward, the professional certificates segment is expected to continue its growth trajectory, driven by the increasing demand for skilled professionals and the recognition of alternative credentials in the job market. However, the industry may also face challenges such as ensuring the quality and accreditation of certificate programs, and addressing the digital divide and unequal access to technology and internet connectivity. Nevertheless, the overall outlook for the professional certificates segment remains positive, with strong growth potential in the coming years.
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.
Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.