Research Nester has released a report titled “Online Education Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global online education market in terms of market segmentation by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Online education is a learning system supported by internet services for interaction and distribution of study material between students and teachers. online education market anticipated to grow at a CAGR of 12.68% during 2020-2027 The growth of the market can be attributed to the increasing number of students from around the world who are accessing educational information over the internet owing to the growing availability of internet technologies as well as for not being able to enroll into schools and institutions for conventional classroom courses. Additionally, online education helps students and faculties with the flexibility of accessing educational information at any place and at any time. The global online education market is further expected to reach USD 438.71 billion by 2027 by growing at 2.8 times, along with an absolute $ opportunity of USD 283.09 billion during the assessment period.
Regionally, the global online education market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, North America is anticipated to hold the largest market share owing to huge investments from educational institutions for shifting to digital education platforms from conventional education methodologies, coupled with technological advancements and increased usage of internet, cell phones and tablets in the region.
The online education market in Asia Pacific is anticipated to gain significant market share owing to the development in the IT infrastructure as well as online education, especially in nations such as China, India, Malaysia and others. Moreover, the market for online education in Middle East and Africa is anticipated to grow owing to the promotion of e-learning in Middle East by providing tablets and laptops to students in educational institutes, as well as introduction of new and effective digitization of textbooks in academic sectors.
Growing Digital Disruption to Promote Growth of Online Education
Internet penetration around the world have increased massively owing to the advent in technology and development of technological infrastructure. Businesses worldwide are rapidly implementing technological solutions to gain competitive advantage and stay ahead in the market. The education industry also has observed a transformational change with the implementation of digital technologies which has made possible for students and faculties access education information from across the world without any physical barriers. Students, which dominate a major share of the world’s young population, also contribute to the major share of access to smartphones and the internet. As such, they are immensely benefitted by enrolling to the online education classes without moving out of their home, office or cities by the use of online education technologies. Moreover, development of interactive teaching methods and cost-effective learning processes is contributing to the greater number of students adopting to online education. Such factors are anticipated to drive the growth of the global online education market.
However, concerns regarding the lack of online education solutions for the deaf and dumb, imbibition of theoretical knowledge and lack of practical knowledge along with low control over students for the teacher which affects the quality of online education are some of the factors anticipated to limit the growth of the global online education market.
This report also provides the existing competitive scenario of some of the key players of the global online education market, which includes company profiling of Pearson plc (LON: PSON), McGraw Hill and Adobe (NASDAQ: ADBE) among others. Also, several other key players are increasingly working on the expansion of their business worldwide. On the other hand, numerous educational institutes and key players in the online education market are also offering access to students from around the world on account of the recent outbreak of Coronavirus (COVID-19) as several nations are observing lock-down, restricting movement of people and thereby a measure to control the spread of the pandemic virus. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global online education market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
