Professional Learning Market, 2023

Professional Learning Market, 2023

Professional Learning 2023

Total spending on US PreK-12 professional development in the 2022-2023 school year was $5.99 billion, up 2.9% from $5.76 billion in the previous year while the global market for corporate learning and development is forecast to grow from $345.56 billion in 2021 to $493.32 billion in 2028 with a CAGR of 8.9%. These are two of the highlights of SIMBA’s just released report, Professional Learning 2023

What this Report Covers

In addition to identifying the size and forecast of professional development (or “learning and development”) for both the educational and corporate workforce sectors, the report also examines the competitive landscape, key forces driving the market, technological changes, new modes of instruction, format and delivery, and the expressed needs of teachers, principals and administrators for the education sector, and workers and HR departments for the corporate sector.

Key Findings

Key findings surfaced in this report include, for the education sector, increased activity among districts and schools to develop their own professional development, a desire for personalized and active learning, and more content and training on leadership, social and emotional learning (SEL), diversity, and special education. For the corporate workforce, the report reveals the impact of an anticipated a structural labor market churn of 23% of jobs in the next five years, or a growth of 69 million jobs and a decline of 83 million jobs on vendors and suppliers of L&D products. There is forecast to be a continuing and increased need for IT skills, including cloud computing, cybersecurity and generative AI, among others.

Key Trends Discussed

Several significant trends and developments are explored and analyzed in the report. For those serving the education market, the report looks at the move towards online and hybrid learning, the importance of active learning, and the impact of larger trends such as teacher shortages and burnout and the ongoing interest in microlearning. For the corporate sector, the report examines and analyzes trends such as the role of HR-including its training selection decisions, budget expenditures and training forecasts, use of generative AI in training, the desire by workers to learn the technology, including those in HR to identify skills gaps in their organization.

About Simba Information

Simba Information is widely recognized as the authority for market intelligence in the education, media and publishing industries. Its extensive information network delivers top quality, independent perspectives on the people, events, and alliances shaping these industries. Publishers and investment professionals can trust Simba Information’s Professional Learning 2023 report to provide the inside intelligence needed to evaluate growth potential and understand the trends impacting the market for professional learning in the PreK-12, higher education, and corporate workforce markets.

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