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Professional Certificates - India

India

Revenue in the Professional Certificates market is projected to reach €354.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.29%, resulting in a projected market volume of €504.40m by 2029.
In the Professional Certificates market, the number of users is expected to amount to 11.2m users by 2029.
User penetration will be 0.5% in 2024 and is expected to hit 0.8% by 2029.
The average revenue per user (ARPU) is expected to amount to €47.16.
In global comparison, most revenue will be generated in the United States (€1,814.00m in 2024).
With a projected rate of 2.3%, the user penetration in the Professional Certificates market is highest in the United States.

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Analyst Opinion

The Professional Certificates market in India is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory. Customer preferences in India are shifting towards acquiring professional certificates as a means of enhancing their skills and employability. With a highly competitive job market and a growing emphasis on specialized knowledge, individuals are recognizing the value of professional certificates to differentiate themselves from their peers. Moreover, employers are increasingly demanding specific certifications as a way to ensure the quality and competence of their workforce. As a result, there is a growing demand for professional certificates across various industries in India. Trends in the market indicate a strong focus on digital and technology-related certifications. As India continues to be a global hub for IT services and software development, professionals are seeking certifications in areas such as data science, artificial intelligence, cloud computing, and cybersecurity. These certifications not only provide individuals with the necessary skills to thrive in the digital age but also open up new career opportunities in emerging fields. Additionally, there is a rising interest in certifications related to sustainability, entrepreneurship, and leadership, reflecting the evolving needs of the Indian workforce. Local special circumstances further contribute to the development of the Professional Certificates market in India. The country has a large youth population and a rapidly expanding middle class, both of which are driving the demand for education and skill development. Furthermore, the government of India has launched several initiatives to promote skill development and vocational training, such as the Skill India Mission and the National Skill Development Corporation. These initiatives aim to bridge the skills gap and provide individuals with the necessary training and certifications to succeed in the job market. Underlying macroeconomic factors also play a role in the growth of the Professional Certificates market in India. The country's economy has been experiencing steady growth, resulting in increased disposable income and a higher willingness to invest in professional development. Additionally, India's demographic dividend, with a large young population, creates a favorable environment for the expansion of the education and training sector. Furthermore, the rise of digital platforms and online learning has made professional certificates more accessible and affordable, facilitating their widespread adoption. In conclusion, the Professional Certificates market in India is thriving due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. With a growing demand for specialized skills and a supportive ecosystem for skill development, the market is poised for further growth in the coming years.

Methodology

Data coverage:

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.

Forecasts:

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.

Additional notes:

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.