Professional Certificates are a type of credential, typically delivered by an industry body, to demonstrate/acknowledge/verify a person’s ability to perform a job-related function. This definition includes professional certificates offered through institutions (CFA, PMI) and online study courses (Kaplan, Becker).
Data includes revenue figures in Gross Merchandise Value (GMV), Users, average revenue per user (ARPU), and user penetration rate. User and revenue figures represent B2C services.
Professional certifications offered through professional institutions (CPA, CFA, PMP)
Companies offering online study prep strictly for a professional certification (BARBRI, Kaplan, Becker)
Micro and alternative credentials offered through third-party platforms (Udacity nanodegrees, Coursera specializations, Udemy certificates)
Study prep offered by third-party platforms (Udemy, Coursera, edX).
The Professional Certificates market in Canada is experiencing significant growth and development.
Customer preferences: Customers in Canada are increasingly seeking professional certificates to enhance their skills and advance their careers. This trend can be attributed to several factors. Firstly, the job market in Canada is becoming increasingly competitive, and individuals are recognizing the need to differentiate themselves from their peers. Professional certificates provide a tangible proof of expertise and can give job seekers a competitive edge. Additionally, employers in Canada are placing a greater emphasis on specialized skills and certifications. They are more likely to hire candidates who possess relevant professional certificates, as it demonstrates their commitment to professional development and continuous learning.
Trends in the market: One of the key trends in the Professional Certificates market in Canada is the increasing demand for certificates in fields such as technology, finance, and healthcare. As technology continues to advance rapidly, there is a growing need for professionals with specialized skills in areas such as data analysis, cybersecurity, and artificial intelligence. Similarly, the finance industry is evolving, and professionals are seeking certifications in areas such as financial planning and risk management. In the healthcare sector, there is a demand for certificates in areas such as healthcare management and telemedicine, as the industry adapts to new technologies and changing patient needs. Another trend in the market is the shift towards online learning and remote education. The COVID-19 pandemic has accelerated the adoption of online learning platforms and virtual classrooms in Canada. As a result, many professional certificate programs are now being offered online, allowing individuals to learn at their own pace and from the comfort of their homes. This trend has also made professional certificates more accessible to individuals in remote or rural areas, who may not have had access to traditional in-person programs.
Local special circumstances: Canada has a strong education system and is home to several prestigious universities and colleges. This reputation for quality education has contributed to the growth of the Professional Certificates market in the country. Many institutions in Canada offer professional certificate programs that are recognized and respected both nationally and internationally. This has made Canada an attractive destination for individuals seeking professional development opportunities.
Underlying macroeconomic factors: The strong and stable economy of Canada has also played a role in the development of the Professional Certificates market. The country has a diverse and thriving job market, with opportunities in various industries. This has created a demand for professionals with specialized skills and certifications. Additionally, the government of Canada has recognized the importance of skills development and has implemented initiatives to support lifelong learning and professional development. This includes funding programs and tax incentives for individuals and organizations investing in skills training and certification programs. In conclusion, the Professional Certificates market in Canada is experiencing growth and development due to customer preferences for specialized skills, the increasing demand for certificates in technology, finance, and healthcare, the shift towards online learning, Canada's strong education system, and the country's strong and stable economy. These factors are driving the demand for professional certificates and providing individuals with opportunities to enhance their skills and advance their careers.
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.
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.
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.
Key Market Indicators
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