Online Education is one of the greatest revolutions in education which is trending and gaining colossal traction on the global platform. Although, online learning has its limitations, is still preferred by millions of students worldwide. Studies show that today, students increasingly opt for online degree programs or take at least one college course through an online platform.
Certainly, Online Education is gaining huge popularity attributing to the numerous advantages the platform offers. Due to which, eLearning or online education has revolutionized the contemporary education, opening up great opportunities for learners. Online education has shifted the paradigm of, and surely the future of education is going to be more glorious.
The global Online Education Market is also increasingly gaining momentum thanks to the technological advancements which are proving to be impactful for enhancing the quality of education making it accessible on the computer, tablet, or even on a Smartphone, further positively impacting the Online Education market.
Acknowledging the potential, the online education market is demonstrating currently; Market Research Future (MRFR), in its recently published study report asserts that the global online education market will reach USD 423 Bn. by 2023, registering a whopping double digit CAGR of 24 % during the anticipated period (2017 – 2023).
The Competitive market of online education is predominantly driven by rising technological advancements and market penetration of smartphones and its users worldwide. Additionally, public awareness towards the online education devices and its benefits along with interactive displays hardware market and active learning is fostering the market growth.
Moreover, increasing number of mobile learning applications and professional expertise with the technology of digital learning is providing impetus to the market growth. With the advancements transpired into Telecom field coupled with the growing popularity of the internet and many active users, the online education market is expected to witness high growth rate during the forecast period.
Increasing implementation of IT security and cloud-based solutions and rapid growth in digitization are the factors contributing to the growth of the online education market. Other factors that provide impetus to the market growth include favorable government policies and increasing demand for technical education.
Despite promising phenomenal growth prospects, the online education market growth is hindered by some factors including consumer’s skepticism or unawareness that still makes them to typecast online education, considering online training as not good enough, doesn’t provide valid certifications.
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Major Key Players:
Some of the eminent players leading the market include Adobe Systems (US), McGraw-Hill Education (US), Pearson Education (UK), Blackboard (US), Lynda.Com (US), Aptara (US), Docebo (Italy), Edmodo (US), PowerSchool Learning (US) and Tata Interactive Systems (India).
Online Education Market Segmentation:
The MRFR analysis is segmented into four key dynamics for the convenience of understanding;
- By Product : Comprises Content and Services among others.
- By Learning Types: Synchronous Learning and Asynchronous Learning among others.
- By End Users: K-12 Education, Higher Education and Industry & Professional among others.
- By Regions: North America, Europe, APAC and the Rest-of-the-World.
Online Education Market Regional Analysis:
The North America region is projected to retain its hegemony over the global online education market followed by Europe region. This growth attributes to the technical advancements, and the proliferation of the internet, mobiles, and tablets in the region.
Europe is also the prominent market for online education and will show immense growth over the forecast period. The growing markets in Germany, the UK, France, and Italy will majorly support the market growth in the region.
The online education market in the Asia Pacific region will witness significant growth emerging as a promising market in terms of size. Additionally, the rising disposable income will propel the growth of the online education market in the APAC, allowing penetration of connectivity and connected devices. In light of rapid industrialization, the increasing markets mainly in China, India, Japan, Thailand, Malaysia, and South Korea will provide impetus to the market growth.
Online Education Market Competitive Analysis:
Well-established, online education market is adorned by the several large and small players having the international presence. Matured players incorporate collaboration, acquisition, partnership, product launch, and expansion in order to gain the competitive advantage in this market.
These Key players emphasis upon the product innovation and new processes which in turn, is anticipated to fuel the already intensified competition during the forecast period. Online education market demonstrates high growth prospect which in turn, will attract several new entrants to the market which will further intensify the market competition.
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Industry/ Innovation/ Related News:
September 07, 2017 – ConsenSys (US), a blockchain software technology company announced its partnership with Coursera (US), an online education platform to launch a blockchain-related training course.
The duo companies are launching a course titled “Blockchain: Foundations and Use Cases.” The course, designed to provide students with an introduction to the blockchain technology will change certain industries, solving their specific problems.
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