Executive Education Program Market

2021-2031 Executive Education Program Market Outlook in Comparison to Sales Registered in 2016-2020

With the expansion of corporate sector, need to learn development strategies, corporate leadership, and employees trying to up skill their careers have improved the demand for executive education programs. According to FMI, the executive education program market is projected to rise at 11.2% CAGR between 2021 and 2031.

As people and capacities have become more important in corporate strategy (together with the expansion and professionalization of the corporate learning/development function), significant development is witnessed in company-specific customized programming.

With industry trends continually shifting and professional rivalry escalating, demand for innovative education has surged across the globe. Demand for management and leadership courses to enhance their working skills and to keep up with new technology in their fields is increasing.

Continuing education is also required in various professions to stay compliant with legislation, be licensed or qualified, or maintain participation in an association. On the back of these aforementioned factors, the market is anticipated to reach US$ 109.7 Bn during the forecast period between 2021 and 2031.

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Which are the Factors Driving Demand for Executive Education Program?

As business environment is highly competitive in nature, demand for new skills to tackle the dynamic challenges is increasing. Being relevant to the rapidly changing or dynamic working place has now become a priority for corporate executives.

This is one of the major reasons pushing the demand for executive education programs for flexible learning. As majority of this education programs are of less duration and can be completed at convenient schedule, mid-level employees, managers, and senior executives are increasingly applying for these courses.

Thus, key players are facilitating executive education programs with new technologies and online training. Executive education is perceived as an ideal solution that would suffice the need of improving skills and knowledge over an extended employment life. As a result, executive education programs are gaining traction globally.

What is the Impact of the COVID-19 on the Education Program Market?

The COVID-19 outbreak had a major impact on the education sector. Due to the restriction in movement and global lockdown, educational activities in schools and universities were at suspended during the FQ-20.

Executive education providers based at universities have long been at the forefront of experimenting with new technology to promote learning and growth for both individuals and organizations.

To curb the spread of the diseases, corporate clients across the globe were unwilling or unable to travel. Hence, business schools relied on online training and distance education to accomplish their individual and organizational development goals.

Furthermore, the onset of COVID-19 induced restrictions encouraged universities and business schools to offer correspondence programs over in-person learning programs. For instance, Stanford Graduate School of Business is one such B-school that has strong offerings in case of online executive programs. These include all self-paced online, live-programs and part time programs.

Country-wise Insights

How is the Executive Education Program Market in the U.S. Expanding?

As per Future Market Insights, the North America is projected to dominate the global executive education program market, with 24.0% share in terms of value by 2021. The U.S. is expected to emerge as the most lucrative region across North America, holding over 76.4% of market share in the region.

The U.S. is home to some of the world’s best-known and leading business schools. Presence of leading business schools in the country is improving the market demand substantially.

As these universities offer a wide range of executive education programs, providing students plenty of options, the U.S. has been a lucrative market for overseas education since past few decades.

Availability of business courses for flexible duration and for every leadership level is vital factor supporting the market growth in the U.S. senior executives and mid-level employees seek for longer, more comprehensive executive programs, offering them degrees and diplomas.

On the back of these factors, the U.S. executive education program market is expected to surpass US$ 109.8 Bn through 2031.

Will the U.K. Retain its Dominance in Executive Education Program Market?

The UK is expected to account for over 26.2% of market share in Europe through 2021 owing to easy access to the latest development programs. The U.K. has some of the world's most prestigious business schools, which consistently rank at the top of international rankings.

Executive education in Europe, such as executive MBAs and short, specialized programs, provides the best business minds with the opportunity to refine their talents and advance their careers to the next level.

Furthermore, the players in the market are offering customized educational programs to their clients. For instance, Alliance Manchester Business School ranked 3^rd in the UK for the customized programs by the Financial Times.

How are High-Quality Executive Education Programs Pushing the Market Growth in Australia?

In 2021, Australia will account for over 52.0% of total market share in Oceania.  Executive education institutes in Australia are recognized among the world's best. The high-quality tertiary education institutions in Australia, as well as the country's robust commercial governance, attract numerous international students and universities for collaboration.

The universities in Australia also provides an ideal environment for the development and implementation of executive education programs, pushing the corporates and business students to pursue executive education programs in the country.

Australia offers cutting-edge management and leadership development programs that are focused on the needs of customers. These are intended to address the global demand for information and behavior modification, with a focus on a mobile and cross-cultural business environment.

Australia is frequently rated as the top destination for international students pursuing higher education, consistently attracting more international students than other advanced nations. In addition, five capital cities in Australia, including Melbourne, Sydney, Brisbane, Canberra, Adelaide, and Perth, are in the top 50 best cities in the world for overseas students.

Category-wise Insights

Why are Pre-Designed Programs Acquiring Popularity?

In terms of value share, pre-designed programs will account for a notable share of 59.1% in 2020. For example, HBS Executive Education offers a curated group of faculty-led, live online programs designed to meet the organization’s most pressing business challenges.

How will Preference for Online Learning Push the Market Demand?

As per FMI, online learning is expected to dominate the mode of learning segment, exhibiting growth at an impressive pace of 13.7%CAGR during the forecast period.

Prestigious ivy-league and community universities are offering online courses on the back of rising demand due to the onset of the novel COVID-19.

For instance, The Wharton School, The University of Pennsylvania fueled by the faculty and their innovative research, and aided by cutting-edge technology, offers more than 45 live online programs and asynchronous certificate programs for immediate business impact.

Why is ‘1 Week to 1 Month’ Duration for Executive Education Program the Most Preferred?

Based on duration type, ‘1 week to 1 month’ duration courses are highly sought-after. In 2021, 1 week to 1 month duration accounts for over 46.3% of total market share.

How will Growing Interest in Financial Services Boost the Sales?

With advancement of cutting-technology and e-commerce across several domains, consumers operating in corporate or banking sector are upscaling their skills through online courses in financial services.

In terms of industry type, financial services segment will account for over 21.9% market share in 2021. The term "financial services" refers to a variety of services provided by the financial business, such as money management and digital banking technologies.

Furthermore, as financial activities across the globe have become more computerized, financial institutions and startups are refining their technology and expanding remote services, particularly when consumers choose to manage their finances from home despite the current coronavirus outbreak.

Which Learner Type Are Spurring the Sales of Executive Education Program?

In 2021, in terms of learner type individual/ private learners accounts over half the total market share.

For instance, Kellogg Executive Education focuses on how people and companies can grow and change. They provide detailed plans and pathways for individual and team professional and functional development, as well as broader strategies for enterprise-wide executive development efforts.

Surging Need for Executive Education Programs Among Business Owners to Boost the Market Growth

In 2020, business owners accounted for a notable share of 30.1% in the market. As various players in the industry offer programs that strengthen the leadership capacity of individuals and their organizations and even help the business owners to learn more business ideas.

Which Course Type will Account for Lucrative Revenue Share?

In terms of type of course, finance & accounting will account for over 32.8% of sales in 2021. For example, in response to increasing demand, the Alberta Haskayne Executive MBA program now offers a finance specialization in addition to a general management option.

Competitive Landscape

Companies operating in the executive education program market are aiming at strategic collaborations and partnerships with other manufacturers to expand their product portfolio to address the demand of an expanding pool of consumers.

• In 2020, Harvard Business School introduced online programming, including both modules of longer offerings, such as the General Management Program, and shorter topic-focused programs, such as Leading Difference for High Performance.
• In 2019, Stephen M. Ross School of Management offered Executive MBA Program in two locations: Ann Arbor and Los Angeles. With respect to Executive Education, the institute was ranked 5th by Financial Times in 2019, with 6624 participants.

Scope of Report

Key Questions Answered in the Report

• How much is the current executive education program market worth?

  In 2021, the executive education program market is expected to reach a valuation of over US$ 37.8 Bn.

• What was the rate of growth for executive education program sales in the last 5 years?

  The executive education program market grew at a remarkable pace of 11.1% CAGR from 2016 to 2020.

• What is the share of the top players in the executive education program market?

  The Harvard Business School, Columbia University, MIT Sloan School of Management, Stanford Graduate School of Business, are leading market players, cumulatively accounting for 51.0 % value share.

• Which are the top countries driving demand for executive education program?

  The U.S., the U.K., Germany, Canada and Australia are major countries reflecting consistently high demand for executive education program.

• What are the global growth statistics for the executive education program market between 2020 and 2021?

  The executive education program market grew by 4.0% between 2020 and 2021.

• What is the North America executive education program market outlook?

  The market in North America is set to rise at 8.6% CAGR through the end of 2031.

• How fast will the sales of executive education program grow in Europe?

  Demand for executive education program across Europe is set to surge at an impressive 7.6% CAGR through the assessment period.

• What are the key statistics of the South Korea and Japan executive education program market?

  Japan and South Korea will account for 30.8% and 26.9% of market share in the East Asia in 2021, respectively.

Market by Category

By Program Type:

• Customized Programs
• Pre-designed Programs

By Leadership Level:

• Business-Owners
• Junior/ Entry-level Employees
• Managers
• Mid-level Employees
• Senior Executives

By Type of Learner:

• Group/ Small Team Learners
• Individual/ Private Learners

By Mode of Learning:

• In-Person Learning
• Online Learning

By Duration:

• Less than 1 Week
• 1 Week to 1 Month
• More than 1 Month

By Type of Courses:

• Management & Leadership
• Finance & Accounting
• Strategic Leadership & Innovation
• Marketing & Sales
• Business Operations & Entrepreneurship
• Others

By Industry Type:

• Consumer Products & Retail
• Energy & Transportation
• Financial Services
• Healthcare & Pharmaceuticals
• Manufacturing & Industrials
• Others
• Professional Services
• Technology & Communications

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa (MEA)