Professional Certificates - South Africa

South Africa

Highlights

Revenue in the Professional Certificates market is projected to reach US$25.62m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.11%, resulting in a projected market volume of US$30.09m by 2028.
In the Professional Certificates market, the number of users is expected to amount to 1.4m users by 2028.
User penetration will be 1.7% in 2024 and is expected to hit 2.1% by 2028.
The average revenue per user (ARPU) is expected to amount to US$23.73.
In global comparison, most revenue will be generated United States (US$1.96bn in 2024).
With a projected rate of 2.3%, the user penetration in the Professional Certificates market is highest United States.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Professional Certificates market in South Africa is experiencing significant growth and development.

Customer preferences: In recent years, there has been a growing demand for professional certificates in South Africa. This can be attributed to several factors. Firstly, individuals are increasingly seeking to enhance their skills and knowledge in order to stay competitive in the job market. Professional certificates provide a way for individuals to acquire specialized knowledge and credentials that can give them a competitive edge. Secondly, employers are placing greater emphasis on hiring candidates with relevant certifications. This has led to an increased demand for professional certificates as individuals seek to improve their employment prospects.

Trends in the market: One of the key trends in the Professional Certificates market in South Africa is the shift towards online learning. With the advancement of technology and the increasing availability of internet access, online learning has become more accessible and convenient. This has led to a proliferation of online platforms and providers offering professional certificate programs. Online learning allows individuals to study at their own pace and from the comfort of their own homes, making it an attractive option for many. Additionally, online learning often offers more flexibility in terms of scheduling, allowing individuals to balance their studies with work and other commitments. Another trend in the market is the increasing focus on industry-specific certifications. As industries become more specialized, there is a growing demand for professionals with specialized knowledge and skills. This has led to the emergence of industry-specific professional certificate programs, which cater to the specific needs of different sectors. For example, there are professional certificates available in fields such as finance, marketing, healthcare, and information technology. These industry-specific certifications provide individuals with the knowledge and skills required to excel in their chosen field.

Local special circumstances: South Africa has a diverse and dynamic economy, with a wide range of industries and sectors. This diversity creates a demand for professionals with specialized skills and knowledge. As a result, there is a strong demand for professional certificates in South Africa. Additionally, the country has a large and growing youth population, many of whom are seeking to enhance their employability and career prospects. This has further fueled the demand for professional certificates.

Underlying macroeconomic factors: The South African economy has been experiencing slow economic growth in recent years, which has led to a challenging job market. In this competitive environment, individuals are seeking ways to differentiate themselves from other job seekers. Obtaining a professional certificate is seen as a way to enhance one's skills and make oneself more marketable to employers. Additionally, the government has recognized the importance of skills development in driving economic growth and reducing unemployment. This has led to increased investment in education and training programs, including professional certificate programs. In conclusion, the Professional Certificates market in South Africa is experiencing significant growth and development. This can be attributed to customer preferences for enhanced skills and improved employability, as well as the increasing focus on online learning and industry-specific certifications. The local special circumstances, such as a diverse economy and a large youth population, further contribute to the demand for professional certificates. Additionally, underlying macroeconomic factors, such as slow economic growth and government investment in skills development, support the growth of the market.

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.