Professional Certificates - Saudi Arabia

Saudi Arabia

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 Saudi Arabia is experiencing significant growth and development.

Customer preferences: Customers in Saudi Arabia are increasingly seeking professional certificates to enhance their skills and improve their career prospects. This is driven by the growing demand for skilled professionals in various industries, including technology, finance, healthcare, and engineering. Professional certificates provide individuals with a recognized qualification that validates their expertise and knowledge in a specific field. Additionally, many employers in Saudi Arabia now require employees to hold professional certificates as a way to ensure the competency and quality of their workforce.

Trends in the market: One of the key trends in the Professional Certificates market in Saudi Arabia is the increasing popularity of online learning platforms. With the advancement of technology and the widespread availability of internet access, individuals are now able to access professional certificate programs from top institutions around the world without the need to travel or relocate. This has made professional certificates more accessible and convenient for individuals in Saudi Arabia, leading to a surge in demand. Another trend in the market is the focus on specialized and niche certifications. As industries become more specialized and complex, there is a growing need for professionals with specialized skills and knowledge. This has led to the emergence of professional certificate programs that cater to specific industries or job roles. For example, there is a high demand for certifications in cybersecurity, data analytics, project management, and digital marketing in Saudi Arabia.

Local special circumstances: Saudi Arabia is undergoing a significant economic transformation as part of its Vision 2030 initiative. This initiative aims to diversify the country's economy and reduce its reliance on oil by developing various sectors, including technology, tourism, and finance. As a result, there is a growing demand for professionals with the skills and knowledge to support these sectors. Professional certificates play a crucial role in meeting this demand by providing individuals with the necessary skills and qualifications.

Underlying macroeconomic factors: The development of the Professional Certificates market in Saudi Arabia is also influenced by several underlying macroeconomic factors. The government's investment in education and training, as well as its efforts to improve the quality of education, have contributed to the growth of the market. Additionally, the country's young and rapidly growing population creates a significant demand for education and professional development opportunities. Furthermore, the increasing participation of women in the workforce is driving the demand for professional certificates. As more women enter the workforce in Saudi Arabia, they are seeking opportunities to enhance their skills and advance their careers. Professional certificates provide them with the necessary qualifications to compete in the job market and pursue their career goals. In conclusion, the Professional Certificates market in Saudi Arabia is experiencing growth and development due to customer preferences for enhanced skills and career prospects. The market is characterized by the increasing popularity of online learning platforms and the focus on specialized certifications. The local special circumstances, such as the economic transformation under Vision 2030 and the increasing participation of women in the workforce, further drive the market. These trends and underlying macroeconomic factors contribute to the overall development of the Professional Certificates market in Saudi Arabia.

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.