Global Continuing Professional Development Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Continuing Professional Development Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Continuing Professional Development refers to the process of tracking and documenting the skills, knowledge, and experience an individual acquires formally and informally on the job. Continuing Professional Development is the intentional maintenance and development of the knowledge and skills required to perform in a professional environment. This could mean honing existing skills, it could mean developing them to the next level, or it could mean learning new skills. Continuing Professional Development combines different learning methods, including training courses, seminars, workshops, conferences and events, webinars and online e-learning programs, and more.

Market Overview:

The latest research study on the global Continuing Professional Development market finds that the global Continuing Professional Development market reached a value of USD 22211.1 million in 2022. It’s expected that the market will achieve USD 33527.0 million by 2028, exhibiting a CAGR of 7.1% during the forecast period.

Offline training is blocked

Affected by the epidemic, many countries have imposed controls on domestic traffic and the movement of people, and people's daily travel has been affected. Lockdowns and social distancing measures due to the COVID-19 pandemic have resulted in the closure of schools, training institutions and higher education facilities in most countries. There has been a shift in the way educators deliver quality education through various online platforms. In-person training courses in the Continuing Professional Development industry have been impacted by COVID-19, and institutions responding to these challenges have turned to providing relevant training online.

SME

The epidemic will have an impact on the cash flow of small and medium-sized enterprises in the industry and thus affect the operating conditions. As a result, the share of small and medium-sized enterprises in the market will shrink and the share of head enterprises will increase.

Increase in registrations on online platforms

The COVID-19 pandemic has disrupted the offline activities of Continuing Professional Development around the world, and institutions addressing these challenges have had to move quickly to online learning. Continue online learning and digital education for learners. In the area of continuing professional development (CPD), where educational restrictions and pandemic-related travel embargoes intersect, the impact is more pronounced in COVID-19. Offline activities in the Continuing Professional Development industry were hindered, and registrations on online platforms increased. For example, since the spring of 2020, local, national and international CPD meetings have either been cancelled or have rapidly moved to distance learning formats using digital platforms such as Zoom.

Region Overview:

In 2022, the share of the Continuing Professional Development market in North America stood at 32.75%.

Company Overview:

BPP Professional Education is one of the major players operating in the Continuing Professional Development market, holding a share of 0.26% in 2023.

BPP Professional Education

BPP Professional Education is a professional education and training company. BPP offers training in many areas including accounting, actuarial, human resources, investment management, law and taxation.

MDBriefcase

MDBriefcase provides free continuing medical education and professional development. Earn CME/CPD credits for healthcare practitioners and medical students.

Segmentation Overview:

Among different product types, Formal segment is anticipated to contribute the largest market share in 2028.

Formal

Formal CPD is structured learning. Formal CPD usually follows a set curriculum and is usually approved by an independent accreditation service such as the CPD Center of Excellence. Learners engage in interactive, participation-based learning, often delivered by third-party training companies. Structured CPD includes online or offline training sessions, conferences or seminars, group activities, etc.

Informal

Informal CPD is self-directed learning involving any developmental activity directed only by the learner. Informal CPD includes reading offline publications written by industry experts online, reading articles or case studies, etc.

Application Overview:

The market's largest segment by application is the segment Employees, with a market share of 92.64% in 2022.

Job Seekers

Through Continuing Professional Development, job seekers can improve their skills in future occupations or enhance their studies for specific targeted job opportunities.

Employees

Employees go through Continuing Professional Development in order to do better at work and to contribute to the development of the organizations they serve.

Key Companies in the global Continuing Professional Development market covered in Chapter 3:

BPP Professional Education
AKH Inc
The CPD Certification Service
CPD Guild
Legal Beagle Limited
MDBriefcase
Me learning
Straighterline
FutureLearn
IASeminars
Emile Woolf International
GIBLIB
Mocingbird
Learnsignal
NelsonCroom
Medcom Personnel
LearnPac Systems

In Chapter 4 and Chapter 14.2, on the basis of types, the Continuing Professional Development market from 2018 to 2029 is primarily split into:

Formal
Informal

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Continuing Professional Development market from 2018 to 2029 covers:

Job Seekers
Employees

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)