Online Education Market was Estimated to be US$ 59.83 Bn in 2019 and is Expected to Grow at a CAGR of 18.8% Over the Forecast Period, Says Absolute Markets Insights
Owing to Increasing Penetration of Internet and Smart Devices with the Technological Advancement in Online Education Market
17 Apr, 2020, 09:00 ET
PUNE, India, April 17, 2020 /PRNewswire/ -- Global online education market is valued at US$ 59.83 Bn in 2019 and is expected to grow at a CAGR of 18.8% to reach US$ 168.36 Bn by 2027. Globally use of internet technologies has increased in the education industry. Education through the internet helps in communication of ideas, exchange of information, creation of knowledge among others. The global rise in internet penetration coupled with the potential of online education to offer individual's learner's flexibility in terms of place, time, and geographies are driving the online education market. Presently the outbreak of pandemic COVID-19 led education technology companies to promote online education to the next level. Rise of coronavirus or COVID-19 led to schools, colleges, universities, coaching centers among others closed. To continue education, education institutes are adopting online education for their students. Presently education technology companies including iTutorGroup, Coursera Inc., Udacity, Inc., edX Inc. among others have seen a sharp rise in new enrolments. For education technology companies this presents new opportunities to expand their business in uncharted areas. With the COVID-19 pandemic already spread and spreading rapidly across the globe has amplified demand for online education.
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Technology has played a critical role in establishing an online platform for learners. Presently implementation of various advanced technologies in the online education sector is offering students extensive learning experience. Prominent technologies used for online education include AI platforms, wearable devices, AR & VR devices, big data, and machine learning. These technologies are allowing various businesses as well as institutions to share and deliver educational content in an interactive and innovative way. For instance, the World University of Design (WUD), a private university in India has shifted to an online platform to ensure continuity of the teaching-learning process due to the COVID -19 outbreak by using technology-enabled AI, supervision technologies and video conference and other tools to enable virtual learning. This includes a mix of online platforms for conducting meetings, sharing files and lectures in association with online services and resource providers such as Coursera. Therefore, increasing the adoption of technology-enabled learning techniques is driving the global online education market over the forecast period.
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The detailed research study provides qualitative and quantitative analysis of online food delivery market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- In terms of revenue, the global online education market is expected to grow at a healthy rate over the forecast period.
- On the basis of offering the higher education segment is expected to witness a tremendous growth in the forecast period. This growth is anticipated with the increasing need for robust governance framework and large distance learning.
- On the basis of end user individual segments has witness the highest share in the online education market in 2019.
- As far as geography is concerned, North America accounted for the maximum share in the global online education market in 2019. This growth is attributed to the growing needs for a highly-skilled workforce among corporate organizations in this region.
- Some of the players operating in the online education market are 2U, Inc.,, Alef Education, Ambow Education, Bloc, Coursera Inc., edX Inc., General Assembly, Instructure, Inc., ITS Education Asia, iTutorGroup, iversity Learning Solutions GmbHu, LinkedIn Corporation, McGraw-Hill, Pearson, Udacity, Inc. amongst others.
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Online Education Market:
- By Offerings
- Primary and Secondary Supplemental Education
- Test Preparation
- Reskilling and Online Certifications
- Higher Education
- Language and Casual Learning
- By Category
- Business and Management
- Computer Science
- Social Sciences
- Economics and Finance
- By Providers
- Education Institutions
- Education Aggregators
- By End User
- By Geography
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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