ID: MRFR/ICT/2655-CR | 154 Pages | Author: Ankit Gupta | February 2020
Online Education Market Size was valued at USD 38.5 billion in 2021. The Online Education market industry is projected to grow from USD47.23 Billion in 2022 to USD 197.79 billion by 2030,exhibiting a compound annual growth rate (CAGR) of 22.70% during the forecast period (2022 - 2030).The expanding use of cloud-based systems and online meetings for clarifying any doubts are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Efficiency of sharing data to boost market growth
By using formats other than pen and paper, such as PDFs, podcasts, videos, etc., it provides teachers and students with an effective approach to convey knowledge. E-learning also provides time and location flexibility, allowing schools and other educational institutions to reach a large number of additional students. Compared to traditional pen and paper models, e-learning systems are more inexpensive and also easier on the environment.
Further, The alternatives available to schools are expanding as a result of significant market penetration targeted at enhancing the security and unwavering quality of cloud-based education systems. Massive amounts of educational content are available online thanks to the market's large number of service and content suppliers.
Additionally, Reliable technology and other technological problems that impede efficient and effective learning are the main constraints in this area. Health risks could also be a constraint in the future because students today are almost always expected to be online and watching screens, thus it is now necessary to incorporate this into their daily study routine. Online learning has a lot of potential because, with the development of linked technology brought on by improvements in 5G networks, a teacher or parent can better track a student's performance and have a better understanding of the student's learning style. This has enhanced the Online Education market CAGR across the globe in the recent years.
However, to cater the demand there has been significant advances in the treatment innovations. For instance, there has been a number of towers that had been built for better experience of online learning and that is another factor driving the growth of the Online Education market revenue.
The Online Education market data has been bifurcated by surgery into chat, voice, video and live streaming. Online video can be a very powerful teaching tool. It facilitates learning, supports various learning modalities, and makes novel teaching techniques possible. 88% of colleges said in a survey that they had observed data showing that video raises student accomplishment levels. In both traditional and virtual classrooms, live and on-demand video play a key role. The use of these media forms generates unique experiences and improves learning.
January 2022: Credly, a significant provider of credentials for the digital workforce, was recently announced to have been acquired by Pearson. The expansion of Pearson's workforce analysis, learning, and assessment capabilities to include a comprehensive credentialing solution would increase the company's presence in the workforce skills market. Pearson has already invested in the business Credly.
On May 2022: Class came to a firm arrangement to purchase the collaborative blackboard from the anthology. Class Technologies Inc. and Anthology have announced that they have reached a definitive deal for Class to purchase Anthology's Blackboard Collaboration Virtual Classroom Tool. Anthology is a developer of education solutions that support the complete learner lifecycle.
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Online Education market accounted for USD 16.90 billion in 2021 and holds 43.90% of the market and is expected to exhibit a significant CAGR growth during the study period. This is attributed to increasing awareness towards the benefit of online education and its efficiency.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: ONLINE EDUCATION MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Online Education market accounts for the second-largest market share due to the availability of high speed internet and online tuitions and increasing use of online platforms like- webcam, googlemeet, etc. Further, the Germany Online Education market held the largest market share, and the UK Online Education market was the fastest growing market in the European region
The Asia-Pacific Online Education Market is expected to grow at the fastest CAGR from 2022 to 2030. The content segment dominated the Asia e-learning market share in 2020, and it is anticipated to continue dominating the market in the years to come as technological advancements like the deployment of web and cloud-based platforms increased adoption of e-learning methods due to their ease of use and lower cost, which fuels market growth.. Moreover, China Online Education market held the largest market share, and the India Online Education market was the fastest growing market in the Asia-Pacific region
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Online Education market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Online Education industry must offer cost-effective measure to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the Online Education industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Online Education industry has provided with some great educational platforms of the most significant benefits. The Online Education market major player such as Aptara inc. (us), Powerschool group llc (us), K12 inc. (us), Udacity inc. (us), and others are working to expand the market demand by investing in research and development activities.
"Aptara skillfully steered our course from print to digital and then to mobile. We've established new revenue sources and drastically reduced costs by changing how we produce and deliver product documentation and training. As a result of the Information Age, eLearning has developed beyond the scope of traditional learning. eLearning is progressively moving towards what is being referred to as the "Experience Age" after nearly three decades of developing, publishing, and disseminating diverse learning formats via online platforms.
Cisco Systems, Inc., also known simply as Cisco, is a worldwide firm with its main offices in San Jose, California, that specialises in digital communications technologies. Cisco creates, produces, and markets networking tools, software, telecommunications gear, and other high-tech services and goods.
Tata interactive systems (india)
Blackboard inc. (us)
Aptara inc. (us)
Powerschool group llc (us)
K12 inc. (us)
Udacity inc. (us)
Cisco systems inc. (us)
Skills2learn ltd. (uk)
City & guilds group (uk)
Citrix education inc. (us)
October 2022: Cisco Networking Academy: As part of its 25th anniversary celebration, Networking Academy unveiled an ambitious plan to train 25 million students in digital and cybersecurity skills over the next 10 years in order to prepare them for in-demand employment. Cisco's mission is to fuel an inclusive future for everyone, one student at a time, and Networking Academy is in line with that mission.
January 2022: In a recent announcement, Credly, a key supplier of digital workforce credentials, was acquired by Pearson. The addition of a comprehensive credentialing service to Pearson's workforce analysis, learning, and assessment capabilities will strengthen the company's footprint in the workforce skills sector. Credly is a company in which Pearson already has invested.
March 2022: Fast Company has included Power School (NYSE: PWSC), one of the world's top cloud-based software vendors for K–12 education in North America, on its list of the most innovative businesses in the world. The 2022 list of The World's Most Innovative Companies recognises companies that have had the greatest positive influence on their fields and cultures.
Video and Live Streaming
Rest of the World
|Market Size 2021||USD 39.5 billion|
|Market Size 2022||USD 47.23 billion|
|Market Size 2030||USD 197.79 billion|
|Compound Annual Growth Rate (CAGR)||22.70% (2022-2030)|
|Market Forecast Period||2022-2030|
|Historical Data||2018 & 2020|
|Market Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Software, Learning Type, and Region|
|Geographies Covered||North America, Europe, AsiaPacific, and Rest of the World|
|Countries Covered||The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil|
|Key Companies Profiled||Lynda.com (us), Tata interactive systems (india), Mcgraw-hill education (us), Blackboard inc. (us), Aptara inc. (us), and others|
|Key Market Opportunities||The expanding use of cloud-based systems|
|Key Market Dynamics||The alternatives available to schools are expanding as a result of significant market penetration Compared to traditional pen and paper models, e-learning systems are more inexpensive and also easier on the environment.|
The Online Education market size was valued at USD 38.5 Billion in 2021.
The global online education market can reach a size of USD 197.79 billion by 2030.
The market is projected to grow at a CAGR of 22.70% during the forecast period, 2022-2030.
North America had the largest share in the market
The key players in the market are Aptara inc. (us), Powerschool group llc (us), K12 inc. (us), Udacity inc. (us), and others.
The webcam Online Education category dominated the market in 2021.
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