Market Highlights
Online Education is one of the greatest revolutions in education. This latest trend is increasingly gaining traction on the global platform. Online Education, although has its limitations, is still preferred by millions of students worldwide. Studies show that today, students increasingly opt for online degree programs or take at least one college course through an online platform. Certainly, Online Education is gaining a huge popularity attributing to the numerous advantages the platform offers. Due to which, eLearning or Online Education has revolutionized the contemporary education, opening great opportunities for learners. Online Education has shifted the paradigm of education and surely the future of education is going to be more glorious. The Global Online Education Market is also increasingly gaining momentum thanks to the technological advancements which are proving to be impactful for enhancing the quality of education making it accessible on computer, tablet, or even on a Smartphone, further positively impacting the Online Education market.
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Similarly, the online education market has been attracting colossal traction and growth over the recent few years. The growing cost/fees of undergraduate courses and increasing student loan debt are some of the key driving forces behind the rise of the online education market. The emergence of online learning platforms has helped offline institution as well, to expand their reach and capabilities.
Moreover, the increasing popularity of online education is escalating the market on the global platform. According to Market Research Future (MRFR), the global online education market would reach a valuation of USD 423 BN. by 2023, posting a double-digit CAGR of 24 % throughout the review period (2017 – 2023). Certainly, numerous advantages that the platform offers attribute to the enormous popularity online education is gaining today.
eLearning has opened vast opportunities for learners, revolutionizing contemporary learning process. In the future, online education is expected to be more adaptive than ever. Technological advancements have made the platform accessible across connected devices, including a computer, tablet, and even smartphones and enhanced the quality of education. The proliferation of smartphones and its users worldwide is predominantly driving the growth of the market.
Additionally, factors fostering the growth of the market include the spreading awareness among the public towards the benefits of online education, its devices, and interactive displays hardware used in active learning. Moreover, increasing numbers of mobile learning applications and technological expertise used in digital learning provide impetus to market growth.
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Segmentation:
The report segments the market into four key dynamics for a better understanding;
By Product : Content, Services, and others.
By Learning Type : Synchronous Learning, Asynchronous Learning, and others.
By End-users : K-12 Education, Higher Education, Industry & Professional, and others.
By Regions : Europe, Asia Pacific, North America, and Rest-of-the-World (RoW).
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Global Online Education Market – Geographical Analysis
North America would continue its dominance over the global online education market throughout the assessment period. Large technological advancements and the proliferation of the internet and smart, connected, mobiles devices are some of the growth propellers of the regional market.
The Europe online education market stands second, globally. Heading with the growing markets in the UK, Germany, France, and Italy, the region is anticipated to demonstrate enormous growth prospects.
The APAC online education market is brisk and expected to create a substantial revenue pocket over the assessment period. The Asia Pacific region would witness significant growth throughout the review period. Also, the developing economy in the region is propelling the online education market, increasing the uptake of connected devices.
The proliferation of the internet and connectivity devices alongside, the rapid industrialization in India, China, Japan, Malaysia, South Korea, and Thailand, would provide impetus to the growth of the market.
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Online Education Market – Competitive Analysis
Well-established, online education market appears to be competitive and fragmented due to the presence of several large and small players. To gain a competitive advantage, these players adopt strategies such as collaboration, acquisition, partnership, product launch, and expansion. The emphasis on product innovation and new processes would intensify the competitive nature of the market. High growth prospects demonstrated by the market is also expected to fuel the market competition by attracting several new entrants.
Major Players:
The market is led by the players such as McGraw-Hill Education (US), K12 Inc. (US), Lynda.Com (US), Blackboard (US), Pearson Education (UK), Aptara (US), Edmodo (US), Docebo (Italy), PowerSchool Learning (US), Adobe Systems (US), and Tata Interactive Systems (India), among others.
Industry/ Innovation/ Related News
November 2017 – AMA University Online Education (AMA OEd) announced that accrediting that technology-oriented solutions can help solve problems in online teaching and global learning; AMA University is investing in more student-centric educational technologies (EdTech) and learning-management systems. Without appropriate EdTech to provide real-time solutions, e-learning platforms often have so-called ‘blind spots’ that cause students’ inability to catch up with the rest of the class and even high classroom-attrition rates, but AMA OEd’s EdTech enables instructors to gather and observe behavioral data to address negligible student engagement, low uptake of content, and poor documentation which are some of the biggest pain points in e-learning.
November 29, 2017 – The Rapaport Group announced the launch of Rapaport Academy. This new innovative e-learning platform increases knowledge and productivity for professionals in the diamond and jewelry industry. Written and delivered by Rapaport and independent industry experts the Rapaport Academy’s online courses are a springboard to career success in the diamond industry.
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Global Online Education Market Research Report: Information by Component [Hardware (Laptop, Mobile, PC and others) and Software (Worldclass, Courseplay, Yuja and others)], Product [Content (Technical, Management, Commerce, Arts and others) and Servicers (Primary and Secondary Supplementary Education, Test Preparation, Online Certification, Higher Education and Language and others)], Learning Type [Synchronous (Chat, Voice, Video and Live Streaming) and Asynchronous (Digital Curriculum Material, e-Mail, Discussion Boards, Social Networking)], Vertical (K-12, Higher Education, Industry and Professional and others) and Region (North America, Europe, Asia-Pacific and RoW) – Forecast till 2023
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