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Professional Certificates - United States

United States

Revenue in the Professional Certificates market is projected to reach €1.81bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.04%, resulting in a projected market volume of €2.79bn by 2029.
In the Professional Certificates market, the number of users is expected to amount to 11.4m users by 2029.
User penetration will be 2.3% in 2024 and is expected to hit 3.2% by 2029.
The average revenue per user (ARPU) is expected to amount to €230.80.
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 United States is experiencing significant growth and development.

Customer preferences: In recent years, there has been a growing demand for professional certificates among individuals in the United States. This can be attributed to several factors. Firstly, professionals are increasingly recognizing the need to enhance their skills and knowledge to stay competitive in the job market. Professional certificates provide a convenient and efficient way for individuals to acquire new skills or upgrade their existing ones. Secondly, employers are placing greater emphasis on hiring candidates with specialized knowledge and skills. Professional certificates serve as a validation of an individual's expertise in a specific field, making them more attractive to potential employers. Lastly, the flexibility and accessibility of online learning platforms have made it easier for individuals to pursue professional certificates while balancing their work and personal commitments.

Trends in the market: One of the key trends in the Professional Certificates market in United States is the increasing popularity of online learning platforms. These platforms offer a wide range of professional certificate programs that can be completed entirely online. This allows individuals to learn at their own pace and from the comfort of their own homes. Online learning platforms also provide access to a global network of instructors and industry experts, enabling individuals to learn from the best in their respective fields. Another trend in the market is the emergence of specialized professional certificate programs. As industries become more specialized, there is a growing demand for professionals with niche skills and knowledge. As a result, professional certificate programs that focus on specific industries or job roles are gaining popularity. These programs provide individuals with the opportunity to gain expertise in a specific area and differentiate themselves from their peers.

Local special circumstances: The United States has a highly competitive job market, with a large number of professionals vying for limited job opportunities. This has led to increased competition among job seekers and a greater emphasis on acquiring additional credentials to stand out from the crowd. Additionally, the United States is home to many prestigious universities and educational institutions that offer professional certificate programs. This has further contributed to the growth of the market, as individuals recognize the value of obtaining a certificate from a reputable institution.

Underlying macroeconomic factors: The United States has a strong and dynamic economy, which has been a driving force behind the growth of the Professional Certificates market. As industries evolve and new technologies emerge, there is a constant need for professionals with up-to-date skills and knowledge. This has created a demand for professional certificate programs that can provide individuals with the necessary skills to succeed in the changing job market. Furthermore, the COVID-19 pandemic has accelerated the adoption of remote work and online learning. With more individuals working from home and seeking ways to upskill, the demand for professional certificates has surged. The United States government has also recognized the importance of workforce development and has invested in initiatives to promote lifelong learning and skills development, further fueling the growth of the market. In conclusion, the Professional Certificates market in United States is experiencing significant growth and development due to increasing customer preferences for upskilling and specialization, emerging trends in online learning and specialized programs, local special circumstances of a competitive job market and prestigious educational institutions, and underlying macroeconomic factors such as a dynamic economy and the impact of the COVID-19 pandemic.

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.