Over the past few year, factors such as Growing Popularity of the Micro credential across the Globe
have contributed to the development of the Global Micro-credential market.
Undoubtedly, High Demand Due To Personalisation For Employees And Employers
is the most promising market promoter, bringing direct and indirect economic benefits to the market sizing. The Global Micro-credential market is expected to make a significant contribution, with an estimated market to reach USD22165.0 Million by 2026 growing at a CAGR of 13.44%.
AMA research has engaged in the competitive assessment of China & Global Micro-credential Vendors for 5 years. The Top 10 Competitive Vendors in the Micro-credential in 2020 clearly displays the competitive situations of main Micro-credential Vendorsin 2020. The research shows that companies in top 10 list are divided up by dominating countries, namely, United States occupying half of the list showcasing strong market competitive advantage.
With the multiple advantages of technology, cost and service, many major Vendors such as Coursera Inc (United States), edX Inc. (United States), Udacity, Inc. (United States), FutureLearn (United Kingdom), Kadenze, Inc. (United States), International Business Machines (United States), Alphabet Inc. (United States), Microsoft Corporation (United States), Cisco systems Inc. (United States) and Udemy, Inc. (United States) developed rapidly. They kept leading domestic market and on the other way actively developing international market and seizing market share, becoming the backbone of Global Micro-credential industry. It is understood that currently domestic Micro-credential players has been massively used by players in North America.This framework should serve as a basic structure to support the strategic decision-making process for industry players. For instance, the question of whether a Vendors wants to expand into other areas of the market value chain fundamentally determines its strategy.
The New Zealand Qualifications Authority (NZQA) conducted three micro-credential pilots in July 2017 – June 2018 with Udacity, Otago Polytechnic, and Young Enterprise Scheme. As a result of these pilots, the NZOA has now released a micro-credential system that aligns with their national Qualification Framework. This initiative, however, does not have university backing. In 2019, The New Zealand Tertiary Education Commission also introduced a public funding system for micro-credentials which means that all New Zealand Higher Education Institutions are eligible to apply for the funding that will help them deliver micro-credential programmes (Tertiary Education Commission, 2019).
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Micro-credential market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2020 currency rates.
Data Triangulation The overall Micro-credential market size is calculated using market estimation process, the Micro-credential market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Micro-credential market size has been validated using both top-down and bottom-up approaches.