Online Education Market Highlight:
Market Research Future experts say that the global online education market would reach a constant growth level by 2023, at a CAGR of 28.55% in the forecast period, 2017–2023.
The market of the online education market is quite gradual in its growth but has a prosperous future in the coming years. The market is getting influenced by some factors such as growing demand to reduce the cost of education, surging government initiatives supporting online learning, and snowballing penetration of smartphones and the Internet. These are considered to be important factors contributing to the growth of the global Online Education Market.
At the same time, the market of online education can also be boosted owing to the swelling demand for adaptive learning across the globe. Another factor such as the emergence of cloud computing, is to have a positive impact on the market and would contribute to its growth significantly over the assessment period. The research report by MRFR also analyzes other such factors that will drive and affect market growth over 2017-2023.
On the flip side, the factor of the availability of abundant free content and lack of awareness is somehow limiting market growth during its growth period.
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Top Key Market Players:
The well-known players of the global online education market are listed as Adobe Systems Inc. (US), Classteacher Learning Systems (India), Pearson PLC (UK), McGraw-Hill Education (US), PowerSchool Group LLC (US), Lynda.Com (US), Aptara Inc. (US), Blackboard Inc. (US), Docebo (Canada), K12 Inc. (US), Edmodo (US), Tata Interactive Systems (India), Udacity, Inc. (US).
Online Education Market Segmentation:
The segmental analysis of the global online education market has been conducted based on component, product, learning type, and vertical.
- In terms of component: The segment leads by the hardware segment and the software segment is projected to inflate at the fastest CAGR of 31.2% during the forecast period. The progress of this segment is due to the advent of BYOD among enterprises that have surged the demand for smartphones and laptops. At the same time, the growing investments by online education key players for offering advanced learning management software can also raise the demand during the forecast period.
- In terms of product: Here, the services segment to lead the content segment, whereas the services segment might grow with the fastest CAGR of 30.77% during the estimated period. On the other hand, the growing emphasis on science education in schools has highly occasioned in an inclination towards online courses by offering bachelors, masters, and doctoral degrees in science-oriented subjects. These factors are thereby compelling the growth of the global online education market.
- In terms of learning type: The asynchronous learning segment leads the segment, and the synchronous learning type can also grow with the fastest CAGR of 31.01% during the assessment period. In these, asynchronous learning involves interaction between students and instructors with a delay in response timings. It also comprises self-paced courses that are taken via Q&A mentoring, the internet, social networking, e-mail, online discussion groups, and digital curriculum material.
- In terms of vertical: This segment comprises of higher education segment. The professional segment can also expand with the fastest CAGR of 32.1% in the forecast period. It is higher education is the leading segment owing to its popularity among end-users when it comes to online education. Online education affords learners with various higher education courses and certifications while educating users in online learning through videos and chat rooms.
Online Education Market Regional Framework:
The global online education market, by region, has been studied among North America, Europe, Asia-Pacific, and the rest of the world.
Among these, the region of North America occupied the largest market share, which is figured 43% in 2016, with a valuation of USD 1.85 billion. The growth in this region is mainly attributed to the higher adoption of advanced technologies than any other region. Even the universities are collaborating to introduce e-learning programs that are flexible and offer an enhanced learning experience. The state-of-the-art IT infrastructure and early adoption of cloud and artificial technologies are also participating in the grossing global online education market.
Whereas, Asia-Pacific region held the second largest market share and is also probably seeking chances to cultivate with the highest CAGR of 31.28% during the forecast period. Factors such as well-established infrastructure, highly skilled workforce, and snowballing demand for BYOD among corporate organizations are motivating the demand for online education in the Asia Pacific region, mainly in its countries such as Japan, China, India, and more.
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
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List of Tables
Table 1 Online Education Market, By Product
Table 2 Online Education Market, By Learing Type
Table 3 Online Education Market, By End User
List of Figures
Figure 1 Research Type
Figure 2 Online Education Market, By Product (%)
Figure 3 Online Education Market, By Learing Type (%)
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