Alternative credentials market for higher education to grow at a CAGR of 17.8% by 2027, Widening skills gap to boost the market - Technavio

News provided by

Feb 22, 2023, 21:00 ET

NEW YORK, Feb. 22, 2023 /PRNewswire/ -- According to Technavio, the size of the global alternative credentials market for higher education is estimated to grow by USD 2,275.05 million from 2022 to 2027. The market is estimated to grow at a CAGR of 17.8% during the forecast period. Moreover, the growth momentum will accelerate. North America will account for 56% of the market's growth. The report also includes historic market data from 2017 to 2021. In 2017, the alternative credentials market for higher education market was valued at USD 830.72 million. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. For more insights on the historic market data from 2017 to 2021, request a sample report.

Technavio has announced its latest market research report titled Global Alternative Credentials Market for Higher Education 2023-2027

Why Buy?

Add credibility to strategy
Analyzes competitor's offerings
Get a holistic view of the market

Grow your profit margin with Technavio – Buy the report!

Alternative credentials market for higher education - Segmentation assessment

Segment overview
Technavio has segmented the market based on product (non-credit training courses, non-credit certificate programs, digital badges, competency-based education, and boot camps) and delivery mode (online, blended, and face-to-face).

The non-credit training courses segment will account for a significant share of the market's growth during the forecast period. Students should have expertise in the latest tools and technologies prior to being recruited. Companies are looking for students who can be readily recruited into workplaces with minimal training. Hence, the providers of non-credit training courses help students build their hands-on skills through short-term courses. These factors will drive the growth of the segment during the forecast period.

Geography overview
Based on geography, the global alternative credentials market for higher education is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global alternative credentials market for higher education.

North America is estimated to account for 56% of the growth of the global market during the forecast period. Higher education institutions are experimenting with numerous ed-tech products and services. They are introducing new forms of teaching and learning. They are also focusing on experiential learning, flipped classrooms, blended learning, and active learning in classrooms. These factors will drive the growth of the regional market during the forecast period.

Get a glance of the market contribution of various segments including country and region wise , Download a sample report

Alternative credentials market for higher education – Market dynamics
Key factor driving market growth

The widening skills gap is driving the alternative credentials market for higher education.
There is a high disparity in demand for and supply of skilled employees.
The intense competition in the job market has increased the demand for specific skills.
Alternative credentials allow students to acquire non-traditional skills and keep themselves updated.
These credentials help recruiters verify student achievements for particular jobs.
These factors are driving the use of alternative credentials by higher education institutions.

Leading trends influencing the market

The rise in non-traditional offerings is a key trend in the market.
Non-traditional offerings include credit as well as non-credit graduate and undergraduate certificate programs, training courses, continuing education units, and micro-credentialing.
The providers of these courses include colleges and universities.
Non-credit, non-traditional offerings have become a key source of revenue for providers.
These factors will support the growth of the market during the forecast period.

Major challenges hindering market growth

The threat from traditional degree program providers is challenging the market growth.
This market faces a threat from the formal education segment, which includes traditional degree programs.
Evolving learning methodologies and digitization of the overall learning process help universities enhance the quality of course offerings.
These developments can gradually reduce the dependency on alternative credentials.
Such factors are expected to hinder the growth of the market during the forecast period.

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this alternative credentials market for higher education report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the alternative credentials market for higher education between 2023 and 2027
Precise estimation of the size of the alternative credentials market for higher education and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the alternative credentials market for higher education across North America, Europe, APAC, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of the alternative credentials market for higher education vendors

Gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Related Reports:

The e-book market is estimated to grow at a CAGR of 7.7% between 2022 and 2027. The size of the market is forecasted to increase by USD 8,316.2 million. This report extensively covers market segmentation by platform (smartphones, tablets, and laptops), product (consumer ebook, professional ebook, and educational ebook), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The size of the private tutoring market in US is estimated to grow at a CAGR of 9.65% between 2022 and 2027. The size of the market is forecasted to increase by USD 20,479.88 million. This report extensively covers market segmentation by type (curriculum-based learning and test preparation) and learning method (online, blended, and classroom-based).

Alternative Credentials Market For Higher Education Scope
Report Coverage	Details
Page number	177
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 17.8%
Market growth 2023-2027	USD 2,275.05 million
Market structure	Fragmented
YoY growth 2022-2023 (%)	17.23
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 56%
Key countries	US, China, India, Germany, and UK
Competitive landscape	Leading vendors, market positioning of vendors, competitive strategies, and industry risks
Key companies profiled	2U Inc., Bisk Ventures, Carroll Community College Foundation Inc., Cengage Learning Holdings II Inc., City and Guilds Group, Coursera Inc., Credly, Inc., New York State Education Department, NIIT Ltd, Northeastern University, Pearson Plc, Purdue University Global, Simplilearn Solutions Pvt. Ltd., Strategic Education Inc., Temple University, Udacity Inc., Udemy Inc, University of Michigan, University Professional and Continuing Education Association, and XuetangX
Market dynamics	Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio consumer discretionary market reports

Table of contents

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
Exhibit 06: Executive Summary – Chart on Market Segmentation by Delivery Mode
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global alternative credentials market for higher education 2017 - 2021

Exhibit 18: Historic Market Size – Data Table on Global alternative credentials market for higher education 2017 - 2021 ($ million)

4.2 Geography Segment Analysis 2017 - 2021

Exhibit 19: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

4.3 Product Segment Analysis 2017 - 2021

Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)

4.4 Delivery mode Segment Analysis 2017 - 2021

Exhibit 21: Historic Market Size – Delivery mode Segment 2017 - 2021 ($ million)

4.5 Country Segment Analysis 2017 - 2021

Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary

Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers

Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

6.1 Market segments

Exhibit 30: Chart on Product - Market share 2022-2027 (%)
Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

6.2 Comparison by Product

Exhibit 32: Chart on Comparison by Product
Exhibit 33: Data Table on Comparison by Product

6.3 Non-credit training courses - Market size and forecast 2022-2027

Exhibit 34: Chart on Non-credit training courses - Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on Non-credit training courses - Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on Non-credit training courses - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Non-credit training courses - Year-over-year growth 2022-2027 (%)

6.4 Non-credit certificate programs - Market size and forecast 2022-2027

Exhibit 38: Chart on Non-credit certificate programs - Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Non-credit certificate programs - Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Non-credit certificate programs - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Non-credit certificate programs - Year-over-year growth 2022-2027 (%)

6.5 Digital badges - Market size and forecast 2022-2027

Exhibit 42: Chart on Digital badges - Market size and forecast 2022-2027 ($ million)
Exhibit 43: Data Table on Digital badges - Market size and forecast 2022-2027 ($ million)
Exhibit 44: Chart on Digital badges - Year-over-year growth 2022-2027 (%)
Exhibit 45: Data Table on Digital badges - Year-over-year growth 2022-2027 (%)

6.6 Competency-based education - Market size and forecast 2022-2027

Exhibit 46: Chart on Competency-based education - Market size and forecast 2022-2027 ($ million)
Exhibit 47: Data Table on Competency-based education - Market size and forecast 2022-2027 ($ million)
Exhibit 48: Chart on Competency-based education - Year-over-year growth 2022-2027 (%)
Exhibit 49: Data Table on Competency-based education - Year-over-year growth 2022-2027 (%)

6.7 Boot camps - Market size and forecast 2022-2027

Exhibit 50: Chart on Boot camps - Market size and forecast 2022-2027 ($ million)
Exhibit 51: Data Table on Boot camps - Market size and forecast 2022-2027 ($ million)
Exhibit 52: Chart on Boot camps - Year-over-year growth 2022-2027 (%)
Exhibit 53: Data Table on Boot camps - Year-over-year growth 2022-2027 (%)

6.8 Market opportunity by Product

Exhibit 54: Market opportunity by Product ($ million)

7 Market Segmentation by Delivery Mode

7.1 Market segments

Exhibit 55: Chart on Delivery Mode - Market share 2022-2027 (%)
Exhibit 56: Data Table on Delivery Mode - Market share 2022-2027 (%)

7.2 Comparison by Delivery Mode

Exhibit 57: Chart on Comparison by Delivery Mode
Exhibit 58: Data Table on Comparison by Delivery Mode

7.3 Online - Market size and forecast 2022-2027

Exhibit 59: Chart on Online - Market size and forecast 2022-2027 ($ million)
Exhibit 60: Data Table on Online - Market size and forecast 2022-2027 ($ million)
Exhibit 61: Chart on Online - Year-over-year growth 2022-2027 (%)
Exhibit 62: Data Table on Online - Year-over-year growth 2022-2027 (%)

7.4 Blended - Market size and forecast 2022-2027

Exhibit 63: Chart on Blended - Market size and forecast 2022-2027 ($ million)
Exhibit 64: Data Table on Blended - Market size and forecast 2022-2027 ($ million)
Exhibit 65: Chart on Blended - Year-over-year growth 2022-2027 (%)
Exhibit 66: Data Table on Blended - Year-over-year growth 2022-2027 (%)

7.5 Face to face - Market size and forecast 2022-2027

Exhibit 67: Chart on Face to face - Market size and forecast 2022-2027 ($ million)
Exhibit 68: Data Table on Face to face - Market size and forecast 2022-2027 ($ million)
Exhibit 69: Chart on Face to face - Year-over-year growth 2022-2027 (%)
Exhibit 70: Data Table on Face to face - Year-over-year growth 2022-2027 (%)

7.6 Market opportunity by Delivery Mode

Exhibit 71: Market opportunity by Delivery Mode ($ million)

8 Customer Landscape

8.1 Customer landscape overview

Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation

Exhibit 73: Chart on Market share by geography 2022-2027 (%)
Exhibit 74: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison

Exhibit 75: Chart on Geographic comparison
Exhibit 76: Data Table on Geographic comparison

9.3 North America - Market size and forecast 2022-2027

Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027

Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 APAC - Market size and forecast 2022-2027

Exhibit 85: Chart on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 86: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 87: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.6 South America - Market size and forecast 2022-2027

Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.7 Middle East and Africa - Market size and forecast 2022-2027

Exhibit 93: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 94: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 95: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.8 US - Market size and forecast 2022-2027

Exhibit 97: Chart on US - Market size and forecast 2022-2027 ($ million)
Exhibit 98: Data Table on US - Market size and forecast 2022-2027 ($ million)
Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)

9.9 China - Market size and forecast 2022-2027

Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ million)
Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ million)
Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)

9.10 Germany - Market size and forecast 2022-2027

Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.11 UK - Market size and forecast 2022-2027

Exhibit 109: Chart on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 110: Data Table on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 111: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 112: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.12 India - Market size and forecast 2022-2027

Exhibit 113: Chart on India - Market size and forecast 2022-2027 ($ million)
Exhibit 114: Data Table on India - Market size and forecast 2022-2027 ($ million)
Exhibit 115: Chart on India - Year-over-year growth 2022-2027 (%)
Exhibit 116: Data Table on India - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography

Exhibit 117: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

Exhibit 118: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

Exhibit 119: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption

Exhibit 120: Overview on factors of disruption

11.4 Industry risks

Exhibit 121: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered

Exhibit 122: Vendors covered

12.2 Market positioning of vendors

Exhibit 123: Matrix on vendor position and classification

12.3 2U Inc.

Exhibit 124: 2U Inc. - Overview
Exhibit 125: 2U Inc. - Business segments
Exhibit 126: 2U Inc. - Key news
Exhibit 127: 2U Inc. - Key offerings
Exhibit 128: 2U Inc. - Segment focus

12.4 Bisk Ventures

Exhibit 129: Bisk Ventures - Overview
Exhibit 130: Bisk Ventures - Product / Service
Exhibit 131: Bisk Ventures - Key offerings

12.5 Carroll Community College Foundation Inc.

Exhibit 132: Carroll Community College Foundation Inc. - Overview
Exhibit 133: Carroll Community College Foundation Inc. - Product / Service
Exhibit 134: Carroll Community College Foundation Inc. - Key offerings

12.6 Cengage Learning Holdings II Inc.

Exhibit 135: Cengage Learning Holdings II Inc. - Overview
Exhibit 136: Cengage Learning Holdings II Inc. - Business segments
Exhibit 137: Cengage Learning Holdings II Inc. - Key offerings
Exhibit 138: Cengage Learning Holdings II Inc. - Segment focus

12.7 City and Guilds Group

Exhibit 139: City and Guilds Group - Overview
Exhibit 140: City and Guilds Group - Product / Service
Exhibit 141: City and Guilds Group - Key offerings

12.8 Coursera Inc.

Exhibit 142: Coursera Inc. - Overview
Exhibit 143: Coursera Inc. - Business segments
Exhibit 144: Coursera Inc. - Key news
Exhibit 145: Coursera Inc. - Key offerings
Exhibit 146: Coursera Inc. - Segment focus

12.9 Credly, Inc.

Exhibit 147: Credly, Inc. - Overview
Exhibit 148: Credly, Inc. - Product / Service
Exhibit 149: Credly, Inc. - Key offerings

12.10 New York State Education Department

Exhibit 150: New York State Education Department - Overview
Exhibit 151: New York State Education Department - Product / Service
Exhibit 152: New York State Education Department - Key offerings

12.11 NIIT Ltd

Exhibit 153: NIIT Ltd - Overview
Exhibit 154: NIIT Ltd - Product / Service
Exhibit 155: NIIT Ltd - Key news
Exhibit 156: NIIT Ltd - Key offerings

12.12 Pearson Plc

Exhibit 157: Pearson Plc - Overview
Exhibit 158: Pearson Plc - Business segments
Exhibit 159: Pearson Plc - Key offerings
Exhibit 160: Pearson Plc - Segment focus

12.13 Simplilearn Solutions Pvt. Ltd.

Exhibit 161: Simplilearn Solutions Pvt. Ltd. - Overview
Exhibit 162: Simplilearn Solutions Pvt. Ltd. - Product / Service
Exhibit 163: Simplilearn Solutions Pvt. Ltd. - Key offerings

12.14 Strategic Education Inc.

Exhibit 164: Strategic Education Inc. - Overview
Exhibit 165: Strategic Education Inc. - Business segments
Exhibit 166: Strategic Education Inc. - Key offerings
Exhibit 167: Strategic Education Inc. - Segment focus

12.15 Udacity Inc.

Exhibit 168: Udacity Inc. - Overview
Exhibit 169: Udacity Inc. - Product / Service
Exhibit 170: Udacity Inc. - Key news
Exhibit 171: Udacity Inc. - Key offerings

12.16 Udemy Inc

Exhibit 172: Udemy Inc - Overview
Exhibit 173: Udemy Inc - Product / Service
Exhibit 174: Udemy Inc - Key news
Exhibit 175: Udemy Inc - Key offerings

12.17 University of Michigan

Exhibit 176: University of Michigan - Overview
Exhibit 177: University of Michigan - Business segments
Exhibit 178: University of Michigan - Key offerings
Exhibit 179: University of Michigan - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

Exhibit 180: Inclusions checklist
Exhibit 181: Exclusions checklist

13.3 Currency conversion rates for US$

Exhibit 182: Currency conversion rates for US$

13.4 Research methodology

Exhibit 183: Research methodology
Exhibit 184: Validation techniques employed for market sizing
Exhibit 185: Information sources

13.5 List of abbreviations

Exhibit 186: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio