Professional Certificates - BRICS

BRICS

Highlights

Revenue in the Professional Certificates market is projected to reach US$487.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.88%, resulting in a projected market volume of US$679.80m by 2029.
In the Professional Certificates market, the number of users is expected to amount to 16.3m users by 2029.
User penetration will be 0.6% in 2024 and is expected to hit 0.8% by 2029.
The average revenue per user (ARPU) is expected to amount to US$43.85.
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.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Professional Certificates market in BRICS is experiencing significant growth due to the increasing demand for specialized skills and the need for professional development in the region.

Customer preferences: In BRICS countries, there is a strong preference for obtaining professional certificates to enhance career prospects and stay competitive in the job market. Professionals are seeking certifications in various fields such as finance, project management, information technology, and healthcare. This is driven by the recognition that specialized skills and certifications can lead to higher salaries, better job opportunities, and career advancement.

Trends in the market: One of the key trends in the Professional Certificates market in BRICS is the rise of online certification programs. Online platforms and e-learning providers have made it easier for individuals to access and complete professional certificate courses from the comfort of their homes or offices. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increased reliance on remote learning and virtual classrooms. Another trend in the market is the growing demand for industry-specific certifications. As industries become more specialized and technology-driven, professionals are seeking certifications that demonstrate their expertise in specific domains. For example, in the IT sector, certifications in cybersecurity, cloud computing, and data analytics are in high demand. Similarly, in the healthcare sector, certifications in specialized nursing practices or medical coding are gaining popularity.

Local special circumstances: Each BRICS country has its own unique set of circumstances that influence the Professional Certificates market. For example, in Brazil, there is a growing demand for certifications in sustainable development and renewable energy due to the country's focus on environmental conservation. In Russia, certifications in artificial intelligence and robotics are gaining prominence as the country aims to become a global leader in these technologies. In India, there is a strong demand for certifications in digital marketing and e-commerce as the country experiences rapid growth in the online business sector.

Underlying macroeconomic factors: The growth of the Professional Certificates market in BRICS is also driven by underlying macroeconomic factors. These include the need for skilled labor in emerging industries, the increasing competitiveness of the job market, and the desire for career advancement. Additionally, government initiatives to promote skill development and professional training play a crucial role in driving the demand for professional certificates. In conclusion, the Professional Certificates market in BRICS is witnessing significant growth due to customer preferences for specialized skills, the rise of online certification programs, and the demand for industry-specific certifications. The local special circumstances in each BRICS country further contribute to the growth of the market. Additionally, underlying macroeconomic factors such as the need for skilled labor and government initiatives play a significant role in driving the demand for professional certificates.

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.