The appetite for executive education programs remains unsated, with the market growing more than 10 percent in 2021 over the previous year, according to a recent report.
A recent report from Future Market Insights predicts the executive education market to continue growing steadily over the next decade with a compound annual growth rate of 11.2 percent. Not bad for a market already poised to exceed $37 billion this year, driven by high demand for tailored professional growth programs.
Much of this is fueled by a desire among executives to master new skills to maintain their competitive edge, which in turn is leading more programs to offer specialized training sessions specifically tailored to individual companies and even individual executives, according to the report.
However, despite this rising demand for tailored training courses, the majority of executive education programs are still pre-designed: 59.1 percent of them, according to the report.
It noted that the executive education market is also trending toward shorter programs that are offered at flexible times, which in turn is convincing more executives than before to sign up for courses.
Additionally, the company’s report noted that online courses and remote training are dominating in the market, not surprising given the shifting nature of the work environment during the pandemic. Online education courses are predicted to achieve a compound annual growth rate of 13.7 percent over the next decade. Similarly, correspondence courses are gaining traction, chiefly among universities that offer executive education courses.
