Online Education Market Research Report by Forecast to 2023
Online Education Market Scenario:
As per the
study conducted by Market Research Future, the global online education market
2020 will continue to pursue potential targets of expansion, which is scored to
be at a CAGR of 28.55%. The market’s growth estimated phase has been followed
from the year 2017–2023.
The study
foretells about many chances that are knocking door of online education market
as critical players from all across the world are investing heavily in the
market. In this way, the market is getting a substantial push, which is
considered as one of the prime factors causative to the market share.
Growing
demand for condensing the cost of education, snowballing government initiatives
supporting online education, and the rising entrance of smartphones, as well as
the Internet, are the factors capitalizing on the growth of the global online
education market. At the same time, the global market is also probable to be
enhanced due to the snowballing demand for adaptive learning.
On top of this,
an advanced artificial intelligence platform is also playing a pivotal role in
the progress of this market at a global level. education
market size provides flexibility for the students or learners to learn
anything from anywhere and anytime, as most of the online education devices are
appeared to be portable.
At the same
time, other factors accountable for the progress of the online education market
is the rising Internet and smartphone penetration as well as snowballing
government initiatives to improve digital education infrastructure. On the
other side, online education eradicates the infrastructure cost and suggests
various courses as per the demand.
Moreover,
online education is highly aided with the cloud services, which makes the study
material reachable from anywhere and at any time to the learners.
On the flip
side, the factor of lack of awareness and plenty of free content becoming the
main challenge to the online education market’s growth on a global scale.
Key
Market Players:
The
significant players of the global online education market are listed as Pearson
PLC (UK), McGraw-Hill Education (US), Lynda.Com (US), Aptara Inc. (US),
Blackboard Inc. (US), Docebo (Canada), Adobe Systems Inc. (US), PowerSchool
Group LLC (US), Edmodo (US), K12 Inc. (US), Udacity, Inc. (US), Tata
Interactive Systems (India), and Classteacher Lear
Online
Education Market Segmentation:
As per the
study by MRFR, the online education market has is segmented by elements of
product, learning, and vertical.
·
In
terms of components, the market includes the hardware segment. This segment is
probable to nurture with the fastest CAGR of 31.2% in the assessment period.
The dawn of BYOD among businesses has amplified the demand for smartphones and
laptops. In fact, growing investments by online education crucial players for
offering learning management software with advanced features are likely to
raise the demand during the forecast period.
·
In
terms of product, the market includes a content segment, which is likely to
inflate with the fastest CAGR of 30.77% in the assessment period. In fact, the
rising emphasis on science education in schools has caused a rising preference
towards online courses by awarding bachelors, masters, and doctoral degrees in
science-oriented subjects, thus fascinating the growth of the global online
education market.
·
In
terms of learning type, the market includes an asynchronous learning segment,
which is probable to rise with the fastest CAGR of 31.01% in the forecast
period. Asynchronous learning is a component of education that includes
interaction between students and instructors. It also includes self-paced
courses offered via the internet, online discussion groups, social networking,
e-mail, Q&A mentoring, and digital curriculum material.
·
In
terms of vertical, market includes higher education segment, which is likely to
expand at the fastest CAGR of 32.1% in the forecast period. Higher education is
the leading segment owing to its acceptance among end-users when it comes to
online education.
Regional
Outlook:
Regionally,
the global online education market is further studied among the key regions of
Europe, North America, Asia-Pacific, and the rest of the world.
Among these,
the region of North America acquired the largest market share of 43% in 2016,
with a market valuation of USD 1.85 billion.
The region of
Asia-Pacific also held the second largest market share and is also probable to
nurture with the maximum CAGR of 31.28% during the assessment period.
In the last,
a highly skilled workforce, well-established infrastructure as well as growing
demand for BYOD among corporate organizations are capitalizing on the demand
for online education in the North America region.
About
Market Research Future:
At Market
Research Future (MRFR), we enable our clients to unravel the complexity of
various industries through our Cooked Research Report (CRR), Half-Cooked
Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research
(CFR), and Market Research & Consulting Services.
Contact
Market Research
Future
Office No. 528,
Amanora Chambers
Magarpatta Road,
Hadapsar,
Pune - 411028
Maharashtra,
India
+1 646 845 9312
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