WILMINGTON, DE/ACCESSWIRE/September 21, 2022/United States Transparency Market Research Inc. – The increasing trend of digitalization, as well as the growing awareness among the people about the benefits of e-learning platforms are driving the growth of the global online education market. Additionally, growing penetration of internet services, growing number of smart phone users globally, and technological advancements in educational systems are also some of the key drivers of the market. According to a recent market research report, the global market online education market is expected to register a CAGR of 12.3% over the forecast period from 2021 to 2031.
A shift towards online education has been seen around the world following the COVID-19 pandemic. The players in the global online education market are focused on providing their customers with various types of online courses including skills development courses, online test preparation courses and primary education courses and secondary by teleconference. Growing adoption of e-learning through video conferencing, podcasts, zoom, and Google Meet meetings is supporting the growth of the market.
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Rising government spending in the education sector, along with increased investment by public and private organizations to improve existing educational infrastructure, is creating new opportunities for growth in the global online education market. Governments around the world are also increasing their investment in research and development within the education sector to understand and address issues. Additionally, the increasing availability of high-speed Internet connections in developing and developed economies is driving the development of the global online education market.
Online Education Market – Key Findings of the Report
- Adoption of smart technologies in educational processes: The increasing adoption of smart learning techniques, such as virtual classrooms, by education practitioners in emerging economies is creating lucrative expansion opportunities in the global online education market. These smart technologies offer learners a unique way to acquire knowledge from home by attending classes remotely.
- Increase in demand during the COVID-19 pandemic: During the COVID-19 pandemic, schools, colleges and educational and educational institutions have been closed. This has created exciting opportunities in the global online education market. Players have introduced various e-learning solutions to avoid disruption in education during the pandemic. In addition, several players also started integrating new technologies, such as cloud computing and artificial intelligence into their solutions during this period.
Online Education Market – Growth Drivers
- Rising government spending on building smart education infrastructure is driving demand in the global online education market
- Rise in adoption and usage of smart phones and other smart digital devices is propelling the growth of the global online education market
- Rising number of learners enrolling in e-learning portals and platforms is accelerating the growth of the market
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Online Education Market – Key Players
Some of the key players operating in the global online education market include Aptara Inc., Docebo, Edukasyon.ph, Excelsoft Technologies Pvt Ltd., Simplileran Solutions, McGraw Hill Education, MPS Interactive Systems Limited, Adobe Corporation, Blackboard Inc. , Edmodo, EduComp Solutions, Zeus Systems Pvt. Ltd., BYJU’s, Pearson PLC and Edx, Inc. The major players are focusing on developing new smart education and learning solutions that can help them gain a competitive advantage in the market.
In addition, major players in the global online education market are also engaged in several inorganic growth strategies including strategic collaborations with technology partners and mergers and acquisitions. For example, IBM Corporation partnered with Adobe Corporation in September 2021 to provide training in basic design principles for teenagers. Elsewhere, a US-based children’s learning platform called ‘Epic’ was acquired by BYJU’s in July 2021. Additionally, a major player in the global online education market, Nutanix, has partnered with a company called “Udacity” in March 2020 to offer a hybrid nanodegree program for cloud engineering.
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Online education market: segmentation
Online Education Market, By Type of Learning
Online Education Market, By Application
- Preparing for the test
- Online requalification and certification
- Language and occasional learning
- Additional primary and secondary education
- Higher Education
Online Education Market, By End User
- Professional training
- Higher Education
Online education market, by region
- North America
- Asia Pacific
- Middle East and Africa
- South America
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