Professional Certificates - South Korea

South Korea

Highlights

Revenue in the Professional Certificates market is projected to reach US$191.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.72%, resulting in a projected market volume of US$238.60m by 2028.
In the Professional Certificates market, the number of users is expected to amount to 1.1m users by 2028.
User penetration will be 1.8% in 2024 and is expected to hit 2.2% by 2028.
The average revenue per user (ARPU) is expected to amount to US$209.60.
In global comparison, most revenue will be generated United States (US$1.96bn in 2024).
With a projected rate of 2.3%, the user penetration in the Professional Certificates market is highest United States.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Professional Certificates market in South Korea is experiencing significant growth due to several factors.

Customer preferences: South Korean customers are increasingly seeking professional certificates to enhance their skills and improve their employability. This trend is driven by the competitive job market, where employers often prioritize candidates with specialized knowledge and certifications. Additionally, individuals are recognizing the value of continuous learning and professional development to stay relevant in their careers.

Trends in the market: One major trend in the Professional Certificates market in South Korea is the increasing demand for certifications in technology-related fields. As the country continues to prioritize technological advancements and digital transformation, professionals are seeking certificates in areas such as data analytics, artificial intelligence, and cybersecurity. These certifications not only provide individuals with the necessary skills for the job market but also contribute to the overall growth and innovation in the technology sector. Another trend is the rise of online learning platforms offering professional certificate programs. These platforms provide convenient and flexible learning options for individuals who may not have the time or resources to attend traditional classroom-based courses. The accessibility of online learning has significantly expanded the reach of professional certificate programs, allowing individuals from all regions of South Korea to access quality education and acquire valuable certifications.

Local special circumstances: South Korea has a highly competitive job market, with a strong emphasis on education and qualifications. In this context, professional certificates act as a differentiator for job seekers, giving them a competitive edge over other candidates. Employers often view professional certifications as evidence of an individual's commitment to continuous learning and professional growth, making them more attractive candidates for employment.

Underlying macroeconomic factors: South Korea's economy is driven by industries such as technology, manufacturing, and finance. As these industries continue to evolve and become more competitive, the demand for specialized skills and knowledge increases. Professional certificates provide individuals with the opportunity to acquire these skills and demonstrate their expertise in specific areas, making them valuable assets to employers. Furthermore, the South Korean government has been actively promoting lifelong learning and skills development to support economic growth and competitiveness. This emphasis on upskilling and reskilling has contributed to the growing demand for professional certificates in the country. In conclusion, the Professional Certificates market in South Korea is witnessing significant growth due to customer preferences for enhanced employability, trends in technology-related certifications, the rise of online learning platforms, the competitive job market, and the government's focus on skills development. These factors are driving individuals to seek professional certificates to acquire specialized knowledge and skills, ultimately contributing to their career advancement and the overall growth of the South Korean economy.

Data coverage:

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.

Forecasts:

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.

Additional notes:

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.