The global online education market has been witnessing a huge growth over the last few years. The factors responsible for the growth of the online education market include increasing Internet and smartphone penetration and increasing government initiatives to develop digital education infrastructure. Online education eliminates the infrastructure cost and offers various courses on demand. Additionally, online education is aided by the cloud which makes the study material accessible from anywhere and at any time. However, lack of awareness and abundance of free content are the challenges faced by the online education market on a global scale.
The global online education market is expected to reach approximately USD 132.98 billion by 2023, growing at a CAGR of 28.55% from 2017 to 2023.
The market has been divided into various segments based on component, product, learning type vertical, and region.
- By component, the market is segmented into hardware and software. Hardware segment is broadly segmented into laptop, mobile, PC and others. Laptops are widely used hardware component and are expected to hold a major share of the market. Whereas, the mobile segment is expected to grow at the highest rate during the forecast period due to the increasing adoption of smartphones worldwide. Software segment comprises various solutions for learning management systems which allow the organization to train and track employees, students, customer, and vendors.
- By product, the market is broadly classified into content and services. The content comprises science, commerce, management, arts, and other streams. Whereas, the services segment comprises primary & secondary supplementary education, test preparation, online certifications, higher education & language, casual learning, and others. The test preparation segment is expected to show major growth owing to the increasing inclination of students and learners. Online certifications segment is also expected to grow at a significant rate during the forecast period.
- The learning type segment is broadly classified into synchronous learning and asynchronous learning. Asynchronous learning refers to online spaces where work is supported using digital platforms like threaded discussions or emails. In asynchronous learning, the participants are not required to be available during online sessions whereas synchronous learning requires the user to be available online and is more like a face-to-face learning environment. It involves real-time responses that allow better provision for clarity. Synchronous learning type is gaining more popularity owing to the increasing demand for video and live streaming learning solutions.
- The end user segment in the online education market comprises of K-12 education, higher education, industry & professionals, and others. Online education provides a personalized learning experience where students can learn at their own pace. This makes online education the perfect alternative where students can have time for other responsibilities as well as other concerns of everyday life.
Global Online Education Market Analysis & Forecast, from 2017 to 2023
- To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the online education market.
- To provide insights into factors affecting market growth.
- To analyze the online education market based on Porters five force analysis.
- To provide historically and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries— North America, Europe, Asia, and the rest of the world.
- To provide country-level analysis of the market with respect to the current market size and future perspective.
- To provide country-level analysis of the market for a segment on the basis of the component, product, learning type, verticals, and region.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the online education market.
- Technology investors
- Research/ consultancy firms
- Online Education providers
- Private Educational Institutions
- Foreign University and Counselors
- The global online education market is expected to reach USD 132.98 billion by 2023.
- By component, the hardware is leading the market, generating the highest revenue of USD 19.92 billion in 2017 and is expected to grow at 27.2% CAGR. Whereas software is expected to be the leading market in the future, growing at 31.2% CAGR.
- By product, content is leading the market by generating the highest revenue of USD 16.16 billion in 2017 and is expected to grow at 27.35% CAGR. Whereas services are expected to be the leading market in the future, growing with 30.77% CAGR.
- By learning type, asynchronous learning is leading the market by generating the highest revenue of USD 16.21 billion in 2017 and is expected to grow at 27.35% CAGR. Whereas synchronous learning is expected to be the leading market in the future, growing at 31.01% CAGR.
- By vertical, industry and professional sector is expected to witness a high market growth in the coming years. It is expected to grow at the highest CAGR of 32.1% and estimated to generate the high market value of USD 49.8 billion by 2023.
- Geographically, North America has been projected to hold the largest market share in the global online education market followed by Asia-Pacific.
Regional and Country Analysis of Online Education Market Estimation and Forecast
Geographically, North America is dominating the online education market due to a mature education market and high demand for K-12 and post-secondary online education. The US is a prominent market due to US government initiatives promoting online education which is expected to influence the market. Asia-Pacific is the fastest growing region, accounting for a 31.28% share of the overall market where major contribution is witnessed from countries like China and South Korea, due to significant investments in the IT infrastructure and increasing use of smartphones for online services.
The report on the global online education market also covers the following country-level analysis: US, Canada, Mexico, UK, Germany, France, Italy, China, India, Japan, Middle East & Africa and Latin Countries
Category: Technology Market Reports
+91 7710006788 | email@example.com | aarkstore.com