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.

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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.

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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

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Table of contents

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

• 4.1 Global alternative credentials market for higher education 2017 - 2021

• 4.2 Geography Segment Analysis 2017 - 2021

• 4.3 Product Segment Analysis 2017 - 2021

• 4.4 Delivery mode Segment Analysis 2017 - 2021

• 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.2 Bargaining power of buyers

• 5.3 Bargaining power of suppliers

• 5.4 Threat of new entrants

• 5.5 Threat of substitutes

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by Product

• 6.1 Market segments

• 6.2 Comparison by Product

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

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

• 6.5 Digital badges - Market size and forecast 2022-2027

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

• 6.7 Boot camps - Market size and forecast 2022-2027

• 6.8 Market opportunity by Product

7 Market Segmentation by Delivery Mode

• 7.1 Market segments

• 7.2 Comparison by Delivery Mode

• 7.3 Online - Market size and forecast 2022-2027

• 7.4 Blended - Market size and forecast 2022-2027

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

• 7.6 Market opportunity by Delivery Mode

8 Customer Landscape

• 8.1 Customer landscape overview

9 Geographic Landscape

• 9.1 Geographic segmentation

• 9.2 Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027

• 9.4 Europe - Market size and forecast 2022-2027

• 9.5 APAC - Market size and forecast 2022-2027

• 9.6 South America - Market size and forecast 2022-2027

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

• 9.8 US - Market size and forecast 2022-2027

• 9.9 China - Market size and forecast 2022-2027

• 9.10 Germany - Market size and forecast 2022-2027

• 9.11 UK - Market size and forecast 2022-2027

• 9.12 India - Market size and forecast 2022-2027

• 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.3 Landscape disruption

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.2 Market positioning of vendors

• 12.3 2U Inc.

• 12.4 Bisk Ventures

• 12.5 Carroll Community College Foundation Inc.

• 12.6 Cengage Learning Holdings II Inc.

• 12.7 City and Guilds Group

• 12.8 Coursera Inc.

• 12.9 Credly, Inc.

• 12.10 New York State Education Department

• 12.11 NIIT Ltd

• 12.12 Pearson Plc

• 12.13 Simplilearn Solutions Pvt. Ltd.

• 12.14 Strategic Education Inc.

• 12.15 Udacity Inc.

• 12.16 Udemy Inc

• 12.17 University of Michigan

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist

• 13.3 Currency conversion rates for US$

• 13.4 Research methodology

• 13.5 List of abbreviations

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