Asia Pacific to Witness High CAGR in the Online Education Market
According to Custom Market Insights (CMI), the Global Online Education Market size was estimated at USD 30 Billion in 2021 and is expected to hit around USD 200 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 23% from 2022 to 2030.
Our research report offers a 360-degree view of the Online Education market’s drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Online Education market.
Online Education Market: Overview
Students receive their education online using electronic tools, including videos, audio, e-books, AR/VR, or any other electronic tool. Online education offers students many benefits, including a reduced cost of education and the ability to take specialized courses. E-learning has also become crucial for most firms because it enhances worker performance.
The possibilities available to institutions are expanding as a result of the growing acceptance of cloud-based arrangements and increasing investment speculations by significant industry entrants aimed at enhancing the security and unwavering quality of cloud-based education platforms. Massive amounts of educational content are available online because of the market’s numerous service and content providers.
Browse the full “Online Education Market Size, Trends and Insights By Component (Hardware, Software), By Product Type (Content, Services), By Learning Type (Synchronous, Asynchronous), By Vertical (K12, Higher Education, Corporate, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030 “ report at https://www.custommarketinsights.com/report/online-education-market/
Growth Factors
Market players are working diligently to make internet services quick and easy to access, and network access is rising. Microlearning-related growth patterns and a decline in infrastructure costs are likely to act as assets, enabling the market to expand as predicted and experience high demand during the current forecast period.
Due to improvements in the worldwide technology infrastructure that have allowed individuals and companies to achieve previously unattainable heights, internet usage has increased dramatically. Because everyone can now take distance learning courses, the education sector has outpaced other industries throughout the digital upheaval. Because they can access cell phones and the internet, many students in the current period use online education technology to meet their educational needs without leaving their homes, offices, or cities.
Education providers all over the world are increasingly leveraging the internet to deliver certifications, courses, and degrees to rural and urban populations. Additionally, an increase in the number of students taking online classes is attributed to the development of interactive teaching techniques in the online education system, which are economical and seem to be a great online tool for both professors and students.
Segmental Overview
The market for Online Education is segmented into components, products, learning types, and end-user. Furthermore, the end-users of online education are academic (further education, vocational training, and K–12 education), corporate (large enterprises and SMBs), and governmental sectors.
Academic institutions like higher education, vocational training, and K–12 education worldwide have recently adapted to online learning, creating a dynamic educational landscape generating enormous interest among researchers, educators, administrators, policymakers, publishers, and businesses. According to our data, the online education market is dominated by academics as end users, who can use online discussion boards, chat rooms, video conferencing, and synchronous and asynchronous means of delivering instruction.
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Regional Overview
The two most dominant regions in the market are Asia-Pacific and North America. The growing Asia-Pacific region uses cutting-edge innovations, including the hybrid model, novel and distinctive themes, gamification, peer-to-peer learning, and profile mapping.
The key factors driving online education in Asia-Pacific are the amazing increase in Internet and smartphone use, digitally friendly government policies, and rising demand for continuing education among working professionals and job seekers. In addition, enrollment in online education has grown in the North American region year after year, regardless of whether the economy is growing or contracting and if college enrollment generally is increasing or decreasing. Additionally, during the predicted years, the ongoing expansion of online programs, particularly for education, appears to be on the horizon in nations like Canada and the United States.
Prominent Players:
- Lynda
- Mcgraw-Hill Education
- Tata Interactive Systems
- Blackboard Inc.
- Powerschool Group LLC
- Aptara Inc.
- K12 Inc.
- Udacity Inc.
- Skills2learn Ltd.
- Cisco Systems Inc.
- City & Guilds Group
- Citrix Education Inc.
- Docebo
- Centerpoint Systems Inc.
- Adobe Systems Inc.
- Articulate Global Inc.
- Learning Pool
- Cornerstone on demand Inc.
- Microsoft Corporation
- Sap SE
- Saba Software
- Adobe Systems Inc.
- Oracle Corporation
- Edmodo
- KallidUS ltd.
- Others
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