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Global online music education market is estimated to generate a revenue of US$ 829.15 million by the end of the year 2031 from US$ 180.05 Mn in 2022 at a CAGR of 18.4% over the forecast period 2023-2031.
The online music education industry is a rapidly growing market, driven by number of factors such as increasing popularity of online learning, convenience and flexibility it offers, and the rising demand for music teachers. The market is segmented based on various factors such as type, instrument type, session type, organizer type, learner type, and region. This segmentation allows businesses to identify specific areas of growth and target their efforts accordingly.
One of the major drivers of growth in the online music education market is the increasing popularity of online learning. With the advent of technology, more and more students are turning to online learning as a medium to learn music. Online music education provides students with the convenience and flexibility to learn music on their own schedule and at their own pace. This has led to a growing demand for online music teachers and lessons.
Another driver of growth in the online music education market is the increasing demand for music teachers. With the rising popularity of music as a hobby, more and more adults are taking up music as a hobby. This has led to a growing demand for music teachers, both online and offline. Online music education provides an opportunity for businesses to tap into the growing demand for music teachers and capitalize on the growth potential of this market.
In addition to the above, the market for different instruments such as Piano, Guitar, Banjo, and Violin are also expected to grow in the coming years.
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Key Findings of the Global Online Music Education Market
Key Restraints Hampering Demand for Global Online Music Education Market
Regional Analysis of the Global Online Music Education Market
North America is the Largest Market
North America holds the largest share of the global online music education market, accounting for 34.3% in 2022. The market was valued at US$ 60.9 million in 2022 and is expected to reach US$ 151.1 million by 2031, with a projected CAGR of 18.1%. The growth in this region is driven by the increasing adoption of smart devices among individuals and increased government funding in the education sector, which is encouraging market players to develop various online music learning platforms for students. The U.S. held the major share of 79.9% in the North America marketplace in 2022 and generated a market value of US$ 48.6 million in 2022.
Asia Pacific Online Music Education is Poised to offers Potential Growth Opportunities
The Asia-Pacific region also holds significant potential for growth in the online music education market. Countries such as China, India, Japan, South Korea, and others have undergone significant transformation and digitalization in the education industry, resulting in an estimated CAGR of 19.6% during the forecast period. The surge in internet and smartphone penetration, coupled with the increasing demand for online education, has created a favorable environment for the growth of the online music education market in the region. Additionally, the rise in the number of online music schools, online music tutorials and the increasing number of online music teachers in the Asia-Pacific region has also been a factor driving the growth of the market in this region.
Global Consumer Analysis in Online Music Education Market
Moreover, the increasing popularity of online music education is expected to lead to the development of new business models, such as subscription-based services, pay-per-course models and freemium models, providing more flexibility and options for consumers. As a result, it presents a significant opportunity for businesses to diversify their revenue streams.
Market Segmentation Overview
By Instrument Type
By instrument type, the online music education market is segmented into piano, guitar, banjo, violin, and others. Among the various instruments offered, piano holds the largest market share of 34.2%, driven by the growing demand from students and the introduction of new piano lessons by various universities and schools. The market for piano-based online music education was valued at around US$ 62.2 million in 2022, followed by guitar. However, the markets for other instruments such as banjo and violin are also growing at a steady pace.
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By Organizer Type
The market is also segmented based on organizer type, with the market being primarily dominated by music schools and universities, followed by independent music teachers and online music platforms.
By Learner Type
The online music education market is also segmented based on learner type, which includes students and professionals. The market is primarily dominated by students, who account for majority of the online music education market share.
List of Key Companies Profiled:
By Instrument Type
By Session Type
By Organiser Type
By Learner Type
|Market Size Value in 2022||US$ 180.05 Mn|
|Expected Revenue in 2031||US$ 829.15 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.com, Musika, MusicGurus, AAFT School, VIP Peilian, Skoove, TakeLessons, Point Blank, Tonara, Yousician, 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$ 180.05 million in the year 2022.
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 2023-2031.
The online music education market is estimated to generate a revenue of US$ 829.15 million in 2031.
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 2023-2031. This is due to the transformation and digitalisation of education sector in countries like China, India, Japan and South Korea.
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