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Online education market has shown significant growth in the past decade, the industry has garnered a high revenue owing to availability of high-speed internet and online education portals. According to a recent report published by Astute Analytica, titled, “Global Online Education Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2027,” the online education industry is registering a growth at a compounded annual growth rate of ~9% during the forecast period 2021-2027.
Online Education industry is witnessing an era of rapid transition not only due to high adoption by students of different grades, but also by the companies in the view of online training. Corporates are increasingly focusing on the concept of microlearning— a category of eLearning industry. The studies shows that comprehensive training programs can result in ~220% of higher revenue from each employee. Since the year 2000, the revenue generated by the eLearning industry witnessed a growth of more than 900%, and with growing economies, globalisation, high accessibility of data and education content, growth in penetration of internet and smart devices, the market is showing no sign to slow down in the coming years.
The global online education market is segmented into various categories such as Application, Course Type, Provider and Learning Type. These segments are further categorised to study the market in detail.
By Course Type
By Learning Type
Regional Overview of the Online Education Industry
As per the regional studies, the global online education market is categorised into North America, Europe, Asia-Pacific, Middle East & Africa and South America.
The analysis shows that North America online education industry is dominating the global industry owing to fast adoption of online education platforms, positive initiatives by the regional government to support online education marketplace, increasing collaborations between educational institutes and online education platforms. The US and Canada are major shareholder with highest adoption rates of digital education platforms and services. The US government spent around $2.60 billion on self-paced eLearning products for its administrators and staff. Hence, a positive support from the government on technological advanced platforms further boost the overall market pace.
Considering the study period of 2021-2027, the Asia-Pacific online education market is an opportunistic regional market with increased internet penetration and emergence of new market entrants with innovative and user-friendly technology to attract high number of consumer base. The Universities are offering their educational services in collaboration with companies present in the global online education industry.
Impact of COVID-19 on the Global Online Education Market
The COVID-19 outbreak has given sudden spike in the growth of the online education industry, owing to forced lockdown and closure of schools, universities, educational institutes and companies. The market is flourished with a various platform such as Udacity, Udemy, Skillshare, Lynda and Coursera among others.
Competitive Landscape of the Global Online Education Market
Alison, Coursera, edX, Edmodo, Edureka, Federic, FutureLearn, Intellipaat, iversity, Jigsaw Academy, LinkedIn, Linkstreet Learning Pvt. Ltd., kadenze, Khan Academy, Miríada X, NovoEd, Pluralsight, Udacity, Udemy Inc. and XuetangX among others are some key players present in the global online education marketplace. Companies are focusing on various competitive strategies to withhold majority of the market share in the global marketplace.