Online Education Market Overview:
Online education has grown at fairly colossal levels in recent times. Market Research Future is a company which focuses on industry reports with respect to the information and communications sector.
The online education sector has grown at an incremental pace in the past few years, owing to rising rates of enrolment. Market Research Future which concentrates on market reports linked to the Information and Communications Technology sector amongst others recently made available a report on this sector. The online education market has produced around USD 29 billion in the year 2017 and is supposed to develop at 28.55 CAGR per cent approximately during the forecast period.
With skill enhancement being extremely important for the growth of individuals, for career upgradation and increasing the qualifications of individuals, the market is growing at a rapid pace. Since the online mode is more convenient and easier to acquire new skills from, the market has seen significant growth in the past few years. The reduced cost benefit of this market will be a major driver for the expansion of the market in the forecast period.
The global Online Education Market is expected to grow at approx. USD 423 Billion by 2023, at 24% of CAGR between 2017 and 2023
Major Key Players:
The key players in the online education market are Classteacher Learning System (India), DoceboLMS (Italy), Edmodo (U.S.), Aptara Inc. (U.S.), PowerSchool Group LLC (U.S.) and Tata Interactive Systems (India) among others.
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Competitive Analysis
The trend for diversification in the industry has enabled the competitors to access the profitable circumstances accessible in this market are being applied by candidates who are trying to increase their market coverage by focused development which can encourage the expansion of this business sector. The merchandise are also being diversified to large extent to keep up with the robust pace of technological discoveries.
The companies are trying to create and capture economic value together in an appropriate manner. This has raised the possibilities for the approaching growth period significantly. This consequence has further proven to be fruitful for companies so they can fix target that can uphold their commercial enterprise’s liquidity to take the most active decisions in terms of strategy execution and designing.
Industry Segments:
The online education industry is segmented on the basis of product, component, learning, and end user.
The component category for the online education sector is sub divided into software and hardware. The hardware is additionally sub divided into mobile, laptop, PC and others. The software industry is sub segmented into course play, world class, YuJa and others. Moreover, the product category is sub segmented into service, content and others. The content sub category comprises of management, technical, arts, commerce and others. The service sub category is further divided into secondary & primary supplement education, online certifications, test preparation, higher education & language, casual learning and others. Additionally, the learning category is categorized into asynchronous learning and synchronous learning.
The synchronous sub category is divided into video, chat, voice and voice streaming. While asynchronous sub category is divided into discussion boards, digital curriculum, social networking and others. The Online education industry is additionally categorized on the basis of end user that comprises of higher education, K-12 education, professionals & industry and others.
Detailed Regional Analysis:
The geographical division of the Online Education Market is segmented into four different regions namely North America, Europe, Asia Pacific and the Rest of the World.The North American region is supposed to be the most rapidly growing region in the online education market. The technological development and rising education sector is anticipated to drive the sector over the forecast period.
The U.S. is an important nation in this region. The Asia Pacific is estimated to be the most rapidly growing area owing to the increasing implementation of digital technologies which is anticipated to motivate the market’s growth over the forecast period. The European market is expected to be a rising sector over the coming few years owing to the availability of basic digital infrastructure and growing penetration of online education software by the universities.
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Industry Updates:
Mar 2018 Udacity, which is a US-based online education company is investing in the Indian market. The company also expects India to be one of the major growth drivers for its business as it grows its operations significantly in the country. The firm, which offers paid and free courses across many sectors like machine learning, artificial intelligence and virtual reality has seen its global returns rising over 100 per cent year-over-year in the year 2017 to about USD 70 million.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers 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.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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