ALBANY, NY, December 15, 2021 / PRNewswire / – The past few years have witnessed the popularity of intelligent e-learning solutions for the delivery of distance education, focused on flexibility and accessibility for learners. Training institutes and universities have highlighted the importance of virtual learning platforms to stay in the learning race. The global market valuation is expected to grow at a CAGR of 12.3% during the forecast period 2021-2031.
After the outbreak of the COVID-19 pandemic, online education had become the new standard among most educational institutions around the world. The closure of educational institutions around the world had provided a favorable wind for the online education market.
In recent months, the shift to learning platforms has been rapid, especially among learners who have used them for skills development, online retraining and certifications, and corporate learning. The preference for e-learning platforms continues to grow, further driven by the growing awareness and acceptance of various smart learning tools among education professionals and learners.
EdTech companies strongly offer online coding and programming courses in order to intrigue students. Some of the key applications of online education are language learning and casual, additional primary and secondary education, and higher education.
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Key Findings From Online Education Market Research
- Integrating AI with e-learning platforms to increase results: Leading providers of intelligent learning systems are implementing innovative strategies such as artificial intelligence (AI) and machine learning tools to identify skills gaps in the workforce and promote talent development to meet the needs of diverse end users in developed and developing economies. Powerfully, the cloud has made the online education ecosystem more interactive and informative for both providers and end users.
- Broad access to high-speed internet and mobile devices drives adoption: Technology is a key enabler for efficient and transparent online course delivery. Particularly in developing and developed economies, reliable high-speed internet access and cost-effectiveness of courses enhance the accessibility and affordability of e-learning platforms. In this regard, 5G should prove revolutionary technology to connect students to online platforms in real time. In particular, intelligent learning modes have increased the flexibility of learning, thus enriching the landscape. In addition, the growing adoption of smart learning tools and applications is transforming the virtual learning experience, notes the TMR study of the online education market.
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Online education market: main drivers
- The proliferation of e-learning platforms has helped educators and learners to break away from the traditional way of learning. The rapid pace of the digitization of the education sector has given a constant boost to the evolution of the online education market. Motivation stems from the need to make learning more personalized and democratized.
- Learners and educators around the world are taking advantage of social media to connect with their peers and actively participate in learning systems. These aspects underpin the growing role of online education in interactive learning around the world.
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Online education market: regional growth dynamics
- North America held a significant share of the global online education market. Revenue streams have been fueled by the rapid adoption of e-learning platforms and tools in the education technology industry in the United States.
- the Asia Pacific The online education market is expected to increase at a significant CAGR during the forecast period. Significant spending by governments of emerging economies in the education sector, particularly India and China, is a key driver for the expansion of the regional market.
Online education market: key players
Some of the major players in the online education market are edX, Pearson PLC, MPS Interactive Systems Limited, McGraw-Hill Education, BYJU’S, Simplilearn Solutions, Excelsoft Technologies Pvt Ltd., EduComp Solutions, Blackboard Inc. and Adobe Corporation.
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Global Online Education Market: Segmentation
Online education market, by type of learning
Online Education Market, By Application
- Preparing for the test
- Online upgrading and certification
- Language and occasional learning
- Complementary 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 (APAC)
- Middle East & Africa (AEM)
- South America
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