The global online education market is growing rapidly, mainly due to the rising demand for distance learning. Besides, factors such as conducive learning, government policies, and increasing demand for technical education drive market growth. Growing digitization worldwide has led to a tremendous increase in market value.
Online Education Market Report Scope:
|Revenue Forecast in 2030||USD 197.64 Billion|
|Growth Rate:||CAGR of 22.7% from 2022 to 2030|
|Study Period:||2022 -2030|
|Report Coverage:||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
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With the increasing popularity of online training and distance learning modules, the market is projected to witness notable traction in the next few years. In this regard, Market Research Future (MRFR) states that the global online education market is expected to gain USD 197.64 BN by 2030, growing at a 22.7% CAGR throughout the assessment period (2020–2030).
Additionally, the availability of cutting-edge infrastructure coupled with the increasing adoption of advanced technologies fosters market revenues. Online education can play a causal role in developing the overall education industry in terms of revenues and innovations. Increasing implementation of IT security and cloud-based solutions impacts market shares positively.
The online education market witnesses a tremendous increase in its size, primarily due to the increasing demand for distance learning and rapid digitization worldwide. Moreover, conducive to learning, government policies and increasing demand for technical education substantiate market revenues. The increase in popularity of distance learning is another major factor driving the growth of the online education market.
The vast availability of cutting-edge infrastructure coupled with the increasing adoption of advanced technologies fosters online education market shares. Online education or e-learning refers to a 100% virtual learning environment. Online education can play a causal role in developing the overall education industry overall in terms of money as well as innovation.
With growing numbers of active internet users, the online education market is expected to witness a high growth rate throughout the forecast period. Increasing implementation of IT security and cloud-based solutions and rapid growth in digitization bolster market revenues.
Asynchronous learning refers to online spaces supported by digital platforms like threaded discussions/emails. In asynchronous learning, participants need not be online all the time, whereas in synchronous learning type, users need to be online, and it is more like a face-to-face learning environment involving real-time responses that allow better provision for clarity.
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Online Education Market Segments
The report segments market dynamics into learning types, components, products, verticals, and regions. The learning type segment is sub-segmented into hardware (laptop, mobile, PC, others), software (Worldclass, Courseplay, Yuja, others), and services (primary & secondary supplementary education, test preparation, online certification, higher education, language, others). If you are one of the many parents who struggle to afford their children’s tuition, you are not alone. Visit KashPilot now!
The product segment is sub-segmented into technical, management, commerce, arts, and others. The learning type segment is sub-segmented into synchronous (chat, voice, video, and live streaming) and asynchronous (digital curriculum material, email, discussion boards, and social networking). The vertical segment is sub-segmented into K-12, higher education, industry & professional, and others.
Online Education Market Regional Analysis
North America dominates the global online education market. Increasing demand for distance learning and online technical education drives the market growth. Besides, technical advancements and increasing use of the internet, mobiles, and tablets in the region boost the market value. The rising demand for dynamic learning environments is a major driving factor boosting the region’s market shares.
The APAC online education market contributes to faster revenue growth due to the increasing demand for distance learning and technical education in rapidly growing countries such as Japan, China, and India. Also, the availability of cost-competitive post-graduation courses boosts market revenues for online education in the region.
In Europe, the rising demand for a dynamic learning environment escalates market shares. Germany, France, and the UK witness vast demand for online education technologies. On the other hand, online education markets in South America witnesses relatively slower market growth. However, Brazil and Argentina witness slow yet steady growth. Also, the Middle East and Africa region occupy a relatively smaller share of the global online education market.
Market players focus on optimized situational awareness to ensure their mission success. The market appears to be highly competitive, with the presence of a large number of players having a global presence. Well-established players tap emerging markets for expansions and strive to develop products with adept technology.
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Players leading the online education market include Lynda.Com (US), Tata Interactive Systems (India), Mcgraw-Hill Education (US), Blackboard Inc. (US), Aptara Inc. (US), Powerschool Group LLC (US), K12 Inc. (US), Udacity, Inc. (US), Cisco Systems, Inc. (US), Skills2learn ltd. (UK), City & Guilds Group (UK), Citrix Education Inc. (US), Centerpoint Systems Inc. (US), Docebo (Canada), Adobe Systems Inc. (US), Articulate Global, inc. (US), Cornerstone on Demand, Inc. (US), Learning pool (UK), Microsoft Corporation (US), Sap SE (Germany), Adobe Systems Inc. (US), Saba Software (US), Oracle Corporation (US), Kallidus ltd. (UK), and Edmodo (US), among others.
Industry/ Innovation/ Related News
Dec. 01, 2021 — Tmrw, an education technology (EdTech) company, announced its plans to set up a new scalable and affordable online learning operating system in India. Tmrw’s mission is to help bring quality education to everyone across the globe. The firm also plans to set up offices in the UK and the US. The interoperable, all-in-one integrated platform is specially built to be accessible for government-funded schools operating in countries across the globe.
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