LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the professional development market in the US is expected to generate revenues of USD 8.5 billion by 2020.
This research report titled ‘Professional Development Market in the US 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The report categorizes the professional development market in the US into three major end-user segments. They are:
- K-12
- Higher Education
- Pre K-12
Professional development market in US in K-12 segment
The professional development market in the US in the K-12 segment is expected to exceed USD 4 billion by 2020. This market is likely grow at a consistent pace during the forecast period as with the evolution in teaching methods, educators are increasingly adopting online professional development courses. These courses not only make them professionally competent but also allow for flexibility in terms of time along with customization of courses as per their needs.
In order to avoid high dropout rates, districts are reimbursing the professional development costs incurred by teachers to help them cope with the challenging environment in K-12 education. According to Jhansi Mary, a lead analyst at Technavio for K12 and higher education research, “K-12 educators who teach STEM subjects are focusing on professional development to gain deeper subject knowledge; and awareness about new trends, technologies, and teaching methods, such as inquiry-based and experiential learning.”
Professional development market in US in higher education segment
The professional development market in US in higher education segment is expected to exceed USD 2.5 billion by 2020. The professional development market in the US, the higher education segment will grow at a consistent pace owing to the increase in the skills gap in the US. Employers are increasingly emphasizing on the need for improvement in critical thinking, communication, team-work, collaboration, and problem-solving skills in students. These qualities will certainly contribute to the improvement in employability prospects.
Educators who had earlier gained professional skills through workshops, seminars, and printed courses are now utilizing online platforms to enhance their skills and teaching methods. For instance, educators can take video tutorials about various subjects meant for higher education on portals such as Lynda.com. Approximately 42% of colleges and universities in the US have subscribed to the site. One of institutions was Virginia Tech University, which supplemented its traditional curricula with video training for both educators and students and thus, improved their professional growth.
Educators who find training centers and consultants expensive, are increasingly opting for online learning as it is cost-effective, flexible, and engaging. With a rise in internet penetration and accessibility to smart devices, more educators are adopting web-based professional development for their progress. Therefore, the professional development market in the higher education segment will gain traction.
Professional development market in US in Pre K-12 segment
The professional development market in the US in the Pre K-12 segment is expected to exceed USD 1.6 billion by 2020. This segment of education requires teachers to be qualified in the field of early child care. Apart from federal programs that aim at improving the skills set and efficiency of teachers, there are other programs for which teachers enroll voluntarily so as to improve their knowledge base and classroom management and instructional skills. Pre K-12 professional development courses mainly focus on teaching teachers how to improve elementary mathematics and language and literacy skills of students.
Face-to-face workshops for professional development along with printed courses were the norm earlier, however, with the changing times pre K-12 educators are increasingly adopting technology-based tools, such as virtual training and online courses to pursue professional development. Online professional development courses and webinars allow educators to undertake courses at their own pace and customize them as per their needs. For instance, Houghton Mifflin Harcourt offers Big Day for Pre-K. This is a professional development program for Pre-K teachers. Apart from educating teachers about standards-aligned best practices, it contains a webinar series where teachers can exchange ideas with leading experts.
Apart from learning online, Pre K-12 teachers are also making use of online communities and forums to gain feedbacks and insights about their teaching methods as well as share teaching resources. “As more teachers adopt online and web-based professional development methods, the professional development market in the Pre K-12 education segment will gain traction,” says Jhansi.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Edmodo
- McGraw-Hill Education
- Pearson Education
- Scholastic
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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