CPE Market Growth in the USA: Trends & Forecast

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Table of Contents

CPE has emerged as a vital component to ensure professional competency, compliance with regulatory mandates, and adapt the industry developments. Technological advancement has drastically shifted the lanes of continuing education making it more accessible and dynamic than ever. Professionals actively pursuing CPE have capitalized on their technical expertise and better positioned themselves to adapt and grow.

How much of the CPE Market is Booming and why?

The CPE market is fluid and exposed to unprecedented growth high emphasis on upskilling. So why is the market experiencing an exponential boom?

Job roles are continuously evolving, demanding professionals stay updated with the latest standards, regulations, and tech. Innovations. Compliance standards have become stricter than ever. Due to rapid digitalization, organizations are heavily investing in professional development programs for their employees.

The demand for upskilling across various industries is fueling the market. Industries such as accounting, finance, healthcare, and real estate are witnessing tremendous growth. The vast market expansion and developments have surged the learning demand and CPE enrollment.

Impotent for future aspects

Professional roles and responsibilities are more dynamic, not bounded by a monotonous trajectory. Now, your job demands wholesome skill sets. Organizations recognize the potential of integrating CPE strategies to build long-term sustainable growth.

It's not only about just fulfilling compliance requirements, but also about exploring the career trajectory and giving a new direction to career, and professional life.

Market Size and Growing Trends in CPE

The current market is booming. The numbers and the growth rates are impressive. This is not only true in the U.S., but continuing education is in demand globally and growing in parallel with industry growth.

The CPE market in the U.S. in 2022 was estimated to be USD 60.52 billion. Driven by high demand for professional development, YOY's growth rate is estimated at a CAGR of 7.47%. From 2022 to 2028, the market grew by USD 32.73 billion. The projected market value is estimated to reach USD 93.25 billion by 2028.

Year	Market Size (USD Billion)
2022	60.52
2023	65.04
2024	69.89
2025	75.00
2026	80.38
2027	89.06
2028	93.25

Throughout the year 2022 to 2028, the CPE market is expected to grow consistently, reflecting an increased demand for continuous learning, and upskilling. Over 74% of the workforce are now highly intuitive and enthusiastic about learning new skills.

The intention is not only to achieve a professional goal but to meet their personal goal of lifelong learning. Self-pace and self-learning programs come with greater convenience and flexibility making learning easily accessible. So, the CPE market will continue to grow at a study pace.

By 2030 the market will be worth USD 97.74 billion. The potential growth rate is expected to experience a marginal slowdown with a slice of 1% or at a lower rate. The hiccups might be foreseen due to new developments, changes in the industry dynamics, and professional learning preferences.

However, despite this slight decline, the market indicates a steady growth of 6.68% annually throughout the end of year 2030. This showcases the potential value of the CPE, its long-term scalability, and its economic importance. The CPE market has the potential to upscale and it presents substantial investment opportunities for future growth.

Year	Market Size (USD Billion)
2028	93.25
2029	99.46
2030	97.74

Investment Opportunity in the CPE market

CPE is highly demanded in the accounting and finance sector and plays a crucial role in driving the CPE market demand. With the business expansion, financial regulations are becoming more stringent. The demand for highly skilled accounting and finance professionals is steadily increasing.

As reported by NASBA, as of August 29, 2024, there are 671,855 actively licensed CPAs in 52 of the 55 CPA licensing jurisdictions in the United States. According to the National Association of Enrolled Agents, there are approximately 87,000 practicing EAs in the United States. In the last 50 years of inception, there are 75000 Active CMA Certifications, with a growth rate of 12% YOY, as reported by IMA. The number is continuously increasing with a 10-year compounding annual growth of candidates of 14%.

Professionals to continuously maintain their license must meet their minimum CPE compliance requirement. So, with the rise in the number of accounting and finance professionals, the CPE market will grow constantly. Demand for organized and structured learning with compliance education will expand, opening a new market horizon and potential investment opportunity.

Emerging Trends Shaping the CPE Market Growth

There are a number of factors playing a key role in propelling CPE market expansion.

Demand for lifelong learning is all-time high. Not only individuals but organizations are also highly involved in focusing on upskilling initiatives.

Professionals are looking at CPE not as a compliance requirement but as a tool for continuous career advancement.

Continuous Learning keeps the professionals updated and sets them apart as a more trusted and credible person.

Globalization and the need for standardized CPE programs to meet international regulations have also sparked the need for CPE.

The Role of Online Learning in CPE Expansion

Online learning has streamlined and standardized the CPE over the globe. A seamless way for professionals to continue their learning from anywhere in the world. The flexibility of learning at their own pace, reducing the physical barriers, and global access have been the key factors professionals are opting for online learning.

Key Players in Learning Innovators

Ed-tech companies offering an all-inclusive, one-stop CPE and L&D solution to professionals are taking the lead in continuing education. After covid breakout around 42% of individuals pursue training but the same percentage of companies are planning for LMS plans.

Platforms like MYCPE ONE with other renounced names are the key stakeholders. Individual or a Team of professionals will manage all your learning goals. Keep your team members updated with the latest industrial developments, upskill them to utilize the resources to their full potential, and stay compliant. What makes MYCPE ONE special as an online learning platform:

High-quality learning and development solution
Cost-effective learning
Seamless management of teams learning and development.
Personalized learning aligning the individual or firm's learning goal.
Compliance tracker and learning integration.

Conclusion

The CPE market is not just growing but also evolving tremendously, and online learning is the key holder. Workforce development, technological evolution, and changing regulatory requirements have implanted the more prominent role of continuing education.

The trend is not a fraction, it will scale and continue to lead. Industry is becoming more practical and knowledge-driven, and CPE is the only bridge to fill the gap. The future belongs to those who tend to mold, embrace learning, and equip with knowledge. A more flexible and streamlined format of professional learning is evolving. Knowledge is real wealth and a lifetime investment that will yield real return.

FAQs

The CPE market in the US is expected to grow from USD 60.52 billion in 2022 to USD 97.74 billion by 2030.

CPE holds multifold benefits, and different factors are parallelly contributing to rising demand of CPE. With the highly strict compliance requirements to evolving job roles and technological revolution establishing the CPE as a prominent tool for professional career growth.

Digitalization of learning has democratized CPE, making it more accessible, more flexible means of learning and globally reachable. Digital platforms and seamlessly streamline the learning in a more goal oriented and personalized path.

Nicholas Branson, CPA

Director

The author, Nick Branson is a CPA and Co- president of MYCPE ONE – Continuing Education Platform for Professionals. He has experience of more than 2 decades in the field educating the top professionals in the field of CPA, CMA, CIA and many more.