The MOOC market is gaining significant traction on the back of flexible learning and availability of micro & nano courses as employee engagement & development programs. Fact.MR, in its newly published report, reveals that the MOOC market will hit a valuation of ~US$ 65 Bn by 2029.
MOOC has been witnessing immense adoption in various enterprises due to a strong consumer interest in convenient and portable learning options. Rapidly growing educational costs & the increased requirement for higher education to secure a job creates demand for an economical education system. This in turn is giving impetus to the growth of the MOOC market over the forecast period.
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Key Takeaways of the MOOC Market
Paradigm Shift Towards Low Internet Bandwidth and Regional Language Courses
MOOC adoption is facing a major challenge due to low internet bandwidth. To address this significant challenge, market players are focusing on designing resources which can be accessed on low internet bandwidth. Towards, this, MOOC providers are offering low bandwidth solutions such as low definition MOOC videos, video transcripts and audio-only versions supported by slides. To gain a competitive edge, MOOC providers are offering courses in regional languages.
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Key Questions Answered in the Fact.MR’s MOOC Market Report
Course Differentiation and Regional Language Offerings to be Key Strategies in Marketplace
A large majority of the MOOC players have similar business models that are targeting the same share of the market pie. The global market is characterized by cMOOC and xMOOC, and companies are offering solutions within these frameworks. The only advantage these companies have is the threshold of collaboration and enrollment, which too is volatile in nature.
Prime differentiating strategy adopted by MOOC providers is course differentiation and language based MOOC offering. Providers are also tying up with regional universities to improve their regional presence.
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