The global online education market is estimated to grow at substantial growth rate over the forecast period 2018-2025. As per the market study, the online education industry is driven by various growth factors such as growth in acceptance of distance learning courses and continuous growth in artificial intelligence in both developed and developing regions around the world. Also, enhanced IT security, increasing adoption of smartphones, increasing internet penetration and increasing implementation of cloud-based solutions along with government support to promote online education are further supporting the market growth for the long-term. Whereas, availability of free online courses and lack of knowledge about online education in some regions are hampering the market growth significantly.
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Online education is gaining high growth due to increasing penetration of massive open online course (hereinafter, MOOC) options. The MOOC enrolment data registered a substantial growth of 29% annual and in recent scenario approx. all top universities in the United States offer online courses. In 2019, the MOOC platform witnessed more than 110 million student enrolments with more than 13,500 courses from 900+ universities (Minimum 1 course from each university); from more than 30 e-learning platforms, EDx and Coursera are the main platforms to offer numerous numbers of courses in English language with huge content diversity.
Enhanced IT security with involvement of various regulations ensure privacy and security of information and data of students and education providers. Some of the major act are Family Educational Rights and Privacy Act (FERPA), Federal Information Security Modernization Act of 2014 (FISMA 2014), Gramm-Leach-Bliley Act (GLBA), Higher Education Act (HEA) and Student Aid Internet Gateway (SAIG) among others.
Regional Overview of the Global Online Education Market
The Asia-Pacific online education market is anticipated to hold the significant share in the global online education marketplace. With increasing internet penetration with large scale customer base, the APAC region offers lucrative opportunities for the market players operating in the global marketplace. Furthermore, North America, Europe and Middle East and Africa are constantly witnessing infrastructural growth considering online education boost the overall market growth over the forecast period.
Segmentation Overview of the Global Online Education Market
The global online education market is categorized on the basis of various market segments that include product, learning type and end user. These major market segments are further categorized into various market segments to study the market in detail.
The Product Segment of the Global Online Education Market is Sub-Segmented into:
The Learning Type Segment of the Global Online Education Market is Sub-Segmented into:
The End-User Segment of the Global Online Education Market is Sub-Segmented into:
Key Players Insights of the Global Online Education Market
BYJU’S, Dexler Education, Educomp Solutions, IGNOU and NIIT among others are some major players included in the research study of the global online education market. The market players are adopting various competitive strategies to withhold majority of the market share during the forecast period. Market players in the online education industry are increasingly investing on novel learning management software with advanced properties and easy to use features.
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