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
ID: MRFR/ICT/2655-CR | August 2019 | Region: Bric | 154 pages
Market Snapshot
The Global Online Education Market is expected to expand at a 28.55% CAGR during the forecast period, 2017–2023.
Online education is an electronically supported learning system, which relies on the Internet for interaction and distribution of course material between students and teachers. Growing demand to reduce the cost of education, increasing government initiatives supporting online education, and increasing penetration of smartphones and the Internet are the factors contributing to the growth of the global online education market. Additionally, the market is also expected to be boosted owing to the increasing demand for adaptive learning. However, the availability of abundant free content and lack of awareness is limiting market growth.
Based on component, the global market for online education is dominated by the hardware segment, whereas the software segment is projected to grow with the fastest CAGR of 31.2% during the forecast period. The advent of BYOD among enterprises has increased the demand for smartphones and laptops. Growing investments by online education key players for offering learning management software with enhanced features are expected to increase their demand during the forecast period.
Based on product, the global market for online education is dominated by content segment, whereas the services segment is expected to grow with the fastest CAGR of 30.77% during the forecast period. Increasing emphasis on science education in schools has resulted in an inclination towards online courses offering bachelors, masters, and doctoral degrees in science-oriented subjects, thereby compelling the growth of the global online education market.
Based on learning type, the global market for online education is dominated by the asynchronous learning segment, whereas the synchronous learning type is expected to grow with the fastest CAGR of 31.01% during the forecast period. Asynchronous learning is a component of education, which involves interaction between students and instructors with a delay in response timings. It comprises of self-paced courses taken via the internet, Q&A mentoring, online discussion groups, social networking, e-mail, and digital curriculum material.
Based on vertical, the global market for online education is dominated by the higher education segment, whereas the industry and professional segment is expected to grow with the fastest CAGR of 32.1% during the forecast period. Higher education is the dominant segment due to its popularity among end users when it comes to online education. Online education provides learners with various higher education courses and certifications while educating the users in online learning components such as videos and chat rooms. Furthermore, it also provides learners with time and location flexibility and cost-efficient features.
Regional Analysis
Global Online Education Market Share, by Region, 2016 (%)
Source: - MRFR analysis
The global online education market, by region, has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
North America accounted for the largest market share of 43% in 2016, with a market value of USD 1.85 billion. Asia-Pacific held the second largest market share and is also projected to grow with the highest CAGR of 31.28% during the forecast period. A well-established infrastructure, highly skilled workforce, and increasing demand for BYOD among corporate organizations are driving the demand for online education in North America.
Companies Covered
The key players of the global online education market are Lynda.Com (US), Pearson PLC (UK), McGraw-Hill Education (US), Blackboard Inc. (US), Aptara Inc. (US), Adobe Systems Inc. (US), Docebo (Canada), Edmodo (US), PowerSchool Group LLC (US), Tata Interactive Systems (India), K12 Inc. (US), Udacity, Inc. (US), and Classteacher Learning Systems (India).
Market Segmentation
- By Component – Hardware (Laptop, Mobile, PC, and Others) and Software (Worldclass, Courseplay, Yuja, and Others)
- By Product – Content (Technical, Management, Commerce, Arts, and Others) and Services (Primary and Secondary Supplementary Education, Test Preparation, Online Certification, Higher Education and Language, and Others)
- By Learning Type – Synchronous (Chat, Voice, Video, and Live Streaming) and Asynchronous (Digital Curriculum Material, e-mail, Discussion Boards, and Social Networking)
- By Vertical – K-12, Higher Education, Industry and Professionals, and Others
Key questions addressed by the report
- What was the historic market size (2016)?
- Which segmentation (Component/ Product/ Learning Type/ Verticals) is driving the market?
- What will be the growth rate by 2023?
- Who are the key players in this market?
- What are the strategies adopted by key players?
Frequently Asked Questions (FAQ) :
Higher Education, K-12, Industry and Professional and others are the vertical-wise market segments.
Mounting need to bring down the cost of education, surging number of government initiatives that support online education, rising penetration of smartphones and the Internet along with the soaring demand for adaptive learning are the top market growth boosters.
The industry and professional segment, among all the verticals, can attain the fastest growth rate of 32.1% in the coming years.
Asynchronous learning refers to an aspect of education that involves an interaction between the instructors and students with a slight delay in response timings. It includes Q&A mentoring, self-paced courses taken via the internet, social networking, online discussion groups, digital curriculum material and e-mail, among others.
The top players that are striving to gain a better position in the market are Tata Interactive Systems (India), Docebo (Canada), Classteacher Learning Systems (India), Adobe Systems Inc. (US), Pearson PLC (UK), Lynda.Com (US), Edmodo (US), PowerSchool Group LLC (US), Udacity, Inc. (US), McGraw-Hill Education (US), Aptara Inc. (US), Blackboard Inc. (US), K12 Inc. (US), to mention a few.
The types of Synchronous learning covered in the report are Voice, Chat, Live Streaming and Video, among others
The online education market has been divided into products, learnings, and end users.
