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The report by Astute Analytica illustrates a detailed picture of the Global Online Music Education Market for the study period of 2017-2027. The market is estimated to record a revenue of US$ 421.9 Mn by the end of the year 2027, as compared to US$ 130.7 Mn in the year 2020. The market is witnessing growth at a CAGR of 18.4% during the forecast period.
The online music education industry is witnessing a 2.5 times increase in the number of users during 2021-2027. By the end of the year 2027, the industry is anticipated to record 15.74 Mn users. Growth in digital content for the education sector coupled with the high adoption of smart and connected devices has been paving the way for the digital transformation of the education sector aiding the adoption of online music education worldwide.
The report by Astute Analytica gives an overview of the market for online music education by Instrument Type, Type, Session, Organiser, Learner, and Region. Several market players have been profiled in the report with a focus of providing an understanding of operations across the marketplace from 233 pages, report presents a detailed analysis of the market across 16 chapters with 45 data tables and 98 figures.
Online music education is applying technology for teaching or learning music online through different online platforms. The application of technology in the field of music education has vastly progressed and aided hugely in distance learning.
During the Covid-19 pandemic, temporary closures of schools, universities, and other education infrastructure resulted in enhanced growth of the market in the year 2020. The increased adoption of online music education inhibited the market growth globally. The pandemic provided huge opportunities to emerging IT companies. This technology is of integral importance in protecting students and teachers safe. Thus, it leads to the substantial demand for online music learning software and services during the pandemic, which highly impacted the overall market growth during the forecast period.
The detailed study of the value chain in the online music education market starts with content creation, production, distribution and ends with the users. The report provides an analysis of porter’s five forces analysis in which the bargaining power of buyers is high. This is due to the presence of a large number of buyers that can command the pricing more than suppliers. Also, the threat of substitutes is relatively low because of the unavailability of substitutes for online music education.
Under the price analysis section, a cost comparison of music education including all types of demographics is covered. Geographically, the European online music education market is acquiring the majority of the market share in the global marketplace with an average cost of music education per subscriber ranging from US$ 25 to US$ 35. Whereas Asia Pacific online music education market is holding least market share with the average cost per subscriber is ranging from US$ 16 to US$ 26.
Under the competitive dashboard section, the market concentration rate is calculated to show the type of market existing in online music education. The market is observed to have competitive nature and is projected to shift towards fragmented nature in the forecast period. A mapping and benchmarking of competitors are also included in the report where the global position of players like Yousician, TrueFire, Point Blank, etc are analyzed. Companies such as Point Blank and Skoove have maintained their market positions whereas Yousician has increased its position.
In the company profile section, some of the major players in the market have been identified. Details covered about these players include a business overview, strategic outlook, product portfolio, outline of the company’s financials, and recent developments of the company. The cumulative market share of the five major players is close to 44.4%, hence there is low competition in the market. Berklee College of Music, The Juilliard School, Lessonface, Moosiko, MusicGurus, AAFT School, VIP Peilian, Skoove, Lessonface.com, Point Blank, Tonara, Yousician, Coursera, Musitechnic, Udemy, TrueFire, and TakeLessons are some of the major players in the market. Players like The Juilliard School, MusicGurus, and Berklee College of Music believe in offering a wide variety of online courses and constantly aim to enhance the student experience.
This report offers insights into prospective global opportunities in the Online Music education market. The global online music education market generated a revenue of US$ 130.7 Mn in the year 2020. The market is regionally segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa (MEA). North American online music education market holds the highest share of around 34.3% in the global online music education market in 2020. The market was valued at US$ 44.8 million in the year 2020, which is expected to reach US$ 137.5 million by 2027, projecting a CAGR of 17.6% during the forecast period. This traction is closely followed by the Asia Pacific online music education industry. Surging adoption of smart devices among individuals coupled with increased government funding on the education sector encourages market players to develop various online music learning platforms for students, thereby strengthening the market growth across North America. The U.S. online music education market held a major share of 79.9% in the North America marketplace in the year 2020 and generated a market value of US$ 35.8 million in 2020.
China, India, Japan, South Korea, and the Rest of Asia-Pacific countries have undergone the most inclusive transformation and digitalization in the education industry that resulted in Asia Pacific estimated at the highest CAGR of 19.6% during the forecast period.
The online music education market is segmented based upon the type, instrument type, session type, organizer type, learner type, and region. Among four major instruments namely Piano, Guitar, Banjo, and Violin, Piano holds the highest market share of 38% of online music education. This is mainly due to increasing demand from students and the introduction of new piano lessons by various Universities and schools. The market value for piano is around US$ 44.7 million in 2020 followed by Guitar at second.
By Instrument Type
By Session Type
By Organiser Type
By Learner Type
|Market Size Value in 2020||US$ 130.7 Mn|
|Expected Revenue in 2030||US$ 421.9 Mn|
|Unit||Value (USD Mn)|
|Segments covered||By Instrument Type, By Type, By Session Type, By Organiser Type, By Learner Type, and Region|
|Key Companies||Berklee College of Music, The Juilliard School, Lessonface, Moosiko, MusicGurus, and other prominent players.|
|Customization Scope||Get your customized report as per your preference. Ask for customization|
According to the report published by Astute Analytica, the Global Online Music Education Market generated a revenue of US$ 130.74 million in the year 2020.
Globally, the online music education market recorded around 5 Mn users in the year 2020.
Berklee College of Music, The Juilliard School, Lessonface, Moosiko, MusicGurus, AAFT School, VIP Peilian, Skoove, Lessonface.com, Point Blank, Tonara, Yousician, Coursera, Musitechnic, Udemy, TrueFire, and TakeLessons are some of the major players present in the global online music education market.
During the outbreak of Covid-19, the education sector quickly adopted smart and online learning which augmented the growth of online music education market.
The cumulative market share of the five major players is close to 44.4%.
Online learning presents an attractive, effective, and affordable option. Online music education allows students to learn at their own pace. This benefit is highly preferred by students and parents.
The Global Online Music Education market is estimated to grow at a CAGR of 18.4% during the period 2021-2027.
The online music education market is estimated to generate a revenue of US$ 421.9 million in 2027.
The online music education market is witnessing around 15.74 Mn users by the end of the year 2027.
North America dominated the global online music education market in 2020 with 34.3% of the market share.
Asia Pacific online music education is estimated to forecast a CAGR of 19.6% during the period of 2021-2027. This is due to the transformation and digitalisation of education sector in countries like China, India, Japan and South Korea.