Professional Certificates - GCC

GCC

Highlights

Revenue in the Professional Certificates market is projected to reach US$28.28m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.76%, resulting in a projected market volume of US$39.23m by 2029.
In the Professional Certificates market, the number of users is expected to amount to 359.6k users by 2029.
User penetration will be 0.7% in 2024 and is expected to hit 0.9% by 2029.
The average revenue per user (ARPU) is expected to amount to US$109.00.
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 GCC is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences in the GCC region are shifting towards acquiring professional certificates to enhance their skills and improve their career prospects. Professionals are recognizing the importance of continuous learning and upskilling in order to stay competitive in the job market. Additionally, employers in the region are increasingly valuing employees with specialized certifications, as it demonstrates their commitment to professional development and expertise in their field. One of the key trends in the Professional Certificates market in GCC is the increasing demand for certifications in emerging industries such as technology, finance, and healthcare. As the region strives to diversify its economy and reduce reliance on oil revenues, there is a growing need for professionals with specialized knowledge in these sectors. This trend is driven by the rapid technological advancements, the need for financial expertise in a dynamic market, and the demand for high-quality healthcare services. Another trend in the market is the rise of online learning platforms and distance education. The convenience and flexibility offered by these platforms have made it easier for professionals in the GCC region to pursue professional certificates while balancing their work and personal commitments. Online courses also provide access to a wider range of certification programs from reputable international institutions, allowing professionals to choose from a diverse set of options. Local special circumstances in the GCC region also contribute to the development of the Professional Certificates market. The region has a young and ambitious population with a strong desire for career advancement. The governments in the GCC countries are actively promoting lifelong learning and investing in education and training initiatives to support the development of a knowledge-based economy. These efforts create a conducive environment for the growth of the Professional Certificates market. Underlying macroeconomic factors further fuel the growth of the market. The GCC region is witnessing rapid economic growth, driven by infrastructure development, foreign investments, and economic diversification efforts. As the economy expands, there is a greater demand for skilled professionals to support various industries. The Professional Certificates market plays a crucial role in meeting this demand by providing specialized training and certifications to professionals in the region. In conclusion, the Professional Certificates market in the GCC is experiencing significant growth and development due to shifting customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The market is poised for further expansion as professionals in the region recognize the importance of continuous learning and upskilling in today's competitive job 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.