Online Education Market to Expand at a Whopping 28.55% CAGR by 2023 | Online Education Becomes Mainstream Commodity Post COVID 19
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)
Pune, India – January 6, 2022 /MarketersMedia/ —
Market Highlights
The global online education market is growing rapidly, mainly due to the rising demand for distance learning. Besides, factors such as conducive learning government policies and increasing demand for technical education drive the market growth. Growing digitization has led to a tremendous increase in market value.
With the increasing popularity of online training and distance learning modules, the market is projected to witness notable traction in the next few years. In this regard, Market Research Future (MRFR) states that the global online education market is expected to witness significant gains by 2023, growing at 28.55% CAGR throughout the assessment period (2017-2023).
Additionally, the availability of cutting-edge infrastructure coupled with the increasing adoption of advanced technologies fosters market revenues. Online education can play a causal role in developing the overall education industry in terms of revenues and innovations. Increasing implementation of IT security and cloud-based solutions impacts market shares positively.
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Segmentation:
The report segments market dynamics into learning types, components, products, verticals, and regions. The learning type segment is sub-segmented into hardware (laptop, mobile, PC, others), software (Worldclass, Courseplay, Yuja, others), and services (primary & secondary supplementary education, test preparation, online certification, higher education, language, others).
The product segment is sub-segmented into technical, management, commerce, arts, and others. The learning type segment is sub-segmented into synchronous (chat, voice, video, and live streaming) and asynchronous (digital curriculum material, e-mail, discussion boards, social networking). The vertical segment is sub-segmented into K-12, higher education, industry & professional, and others.
Global Online Education Market – Regional Analysis
North America dominates the global online education market. Increasing demand for distance learning and online technical education drives the market growth. Besides, technical advancements and increasing use of the internet, mobiles, and tablets in the region boost the market value. The rising demand for dynamic learning environments is a major driving factor boosting the region’s market shares.
Global Online Education Market – Competitive Analysis
Market players focus on optimized situational awareness to ensure their mission success. The market appears to be highly competitive, with the presence of a large number of players having a global presence. Well-established players tap emerging markets for expansions and strive to develop products with adept technology.
Major Players:
Players leading the online education market include Lynda.Com (US), Tata Interactive Systems (India), Mcgraw-Hill Education (US), 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), Centerpoint Systems Inc. (US), Docebo (Canada), Adobe Systems Inc. (US), Articulate Global, inc. (US), Cornerstone on Demand, Inc. (US), Learning pool (UK), Microsoft Corporation (US), Sap SE (Germany), Adobe Systems Inc. (US), Saba Software (US), Oracle Corporation (US), Kallidus ltd. (UK), and Edmodo (US), among others.
Industry/ Innovation/ Related News
Dec. 01, 2021 — Tmrw, an education technology (EdTech) company, announced its plans to set up a new scalable and affordable online learning operating system in India. Tmrw’s mission is to help bring quality education to everyone across the globe. The firm also plans to set up offices in the UK and the US. The interoperable all-in-one integrated platform is specially built to be accessible for government-funded schools operating in countries across the globe.
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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 2027
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