Online Education Market Anticipated to Exceeds at USD 423 Billion by 2023 at 24% CAGR

“Online Education Market”
Online Education Market, By Product (Content, Services), Learning Type (Synchronous, Asynchronous) and End User (K-12 Education, Higher Education, Industry & Professional) – Forecast 2023

Market Highlights

In this rapidly changing world of technology, online education market is projected to show major growth prospects during the forecast period. Owing to increasing demand for distance learning and growth of digitization has led to a tremendous increase in the growth of online education market.

 

As compared to other regions, the Online Education Market in North America is expected to witness significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of online education market. This is owing to the presence of large number of established key players in that region. In addition to this, the region also has a well-established infrastructure which allows higher penetration of devices and ultimately provides high speed connectivity. This is expected to be a major factor for the growth of online education market.

 

Online Education Market is growing rapidly over 24% of CAGR and is expected to reach at approx. USD 423 Billion by the end of forecast period.

 

Online Education Market Players:

  • Adobe Systems (U.S.)
  • McGraw-Hill Education (U.S.)
  • Pearson Education (U.K.)
  • Blackboard (U.S.)
  • Lynda.Com (U.S.)
  • Aptara (U.S.)
  • Docebo (Italy)
  • Edmodo (U.S.)
  • PowerSchool Learning (U.S.)
  • Tata Interactive Systems (India)

 

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Market Research Analysis:

The global online education market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. In the global online education market, Asia Pacific is anticipated to witness relatively faster adoption and is expected to grow at the highest CAGR during the forecast period as compared to other regions. Within Asia Pacific, online education market is projected to contribute faster to the growth of revenue backed by increasing demand for distance learning and growing demand for technical education in countries such as Japan, China and India. The availability of low-cost post-graduation courses has resulted in the rapid growth of online education market in the region.

 

Across Europe, countries including Germany, France and the U.K. are anticipated to drive the growth of online education market. In Europe, the rising demand for dynamic learning environment is the major driving factor for the growth of online education market. The presence of advanced infrastructure and with the increasing adoption of technological advances in numerous countries are other factors driving the market growth of online education market.

 

Online education market in the South America region is anticipated to witness relatively slower market growth. However, Brazil and Argentina among other countries are projected to witness slow yet steady growth. Online education market in Middle East and Africa occupies a relatively smaller pie of the global online education market.

 

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Online Education Market Segmentation

The online education market has been segmented on the basis of product, learning type and end user. The product segment is further bifurcated into content and services. The content sub segment is dominating the product segment whereas the services sub segment is expected to grow at the highest rate during the forecast period.

 

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