Online Education Market 2019 Global Trends, Size, Opportunities, Sales Revenue, Emerging Technologies, Competitive Landscape, Key Vendors, Gross Margin by Forecast to 2023 | Corona-Virus Impact
As per the analysis by Market Research Future Reports (MRFR), the Global Online Education Market is estimated to grow at a CAGR of 28.55% with a value of USD 423 Billion from 2017 to 2023. The current global situation, i.e., the outbreak of corona, has influenced the global online education market 2020. Online education has grown significantly since the only education mode available at a time like this is only online. An increase in the usage of the internet opened the avenues for the education sector as well. With the development of technology and demand for innovation, the global online education market is likely to grow exponentially during the forecast period.
Moreover, the online education market is likely to expand due to the rising demand for adaptive learning. With the sector players exhibiting the addition of advanced tech products, the online education market will expand rapidly during the review period. Besides, the increasing focus of companies on collaborating and product development to attain traction globally. The rising demand to lessen the cost of education, increasing initiatives taken by the government to promote the online education mode has also contributed significantly to the expansion of the market at the global level. However, the availability of enormous content and lack of awareness is an obstacle in the expansion of the market.
The global online education market share can be classified on the basis of vertical, component, learning type, product, and region.
On the basis of vertical, the global online education market can be segregated into Industry and Professionals, Higher Education, K-12, and others.
On the basis of components, the global online education market can be segregated into Software (Courseplay, Worldclass, Yuja, and Others) and Hardware (Mobile, Laptop, PC, and Others).
On the basis of learning type, the global online education market can be segregated into Asynchronous (e-mail, Social Networking, Digital Curriculum Material, and Discussion Boards) and Synchronous (Voice, Live Streaming, Chat, and Video).
On the basis of product, the global online education market can be segregated into Services (Test Preparation, Primary and Secondary Supplementary Education, Higher Education and Language, Online Certification, and Others) and Content (Arts, Commerce, Management, Technical, and Others).
On the basis of region, the global online education market can be segregated into Asia-Pacific, North America, Europe, and the Rest of the World (RoW).
The regional segment can be segregated into Asia-Pacific, North America, Europe, and the Rest of the World (RoW). Among all, the North American market sized the maximum market share accounting 43% in 2016 with a market value of USD 1.85 billion. With the presence of developed countries like the US and Canada, the region is well equipped with developed infrastructure, the rising demand for BYOD among the corporates, and expertise in the concerned field are influencing demand for online education in the region. The second position was attained by the APAC region. The Asia-Pacific region acquired the second largest market share is likely to expand at the highest CAGR of 31.28% during the review period. With the presence of fast-developing countries like India and China, the market is likely to expand exponentially during the forecast period.
The forefront players of the global online education market Classteacher Learning Systems (India), Pearson PLC (UK), Lynda.Com (US), McGraw-Hill Education (US), Aptara Inc. (US), Blackboard Inc. (US), Adobe Systems Inc. (US), Edmodo (US), Docebo (Canada), PowerSchool Group LLC (US), K12 Inc. (US), Tata Interactive Systems (India), Udacity, Inc. (the US), and a few more.
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