On the basis of technology, the market can be segmented into following categories:-
By End User
The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Malaysia online education market is anticipated to project a promising compound annual growth rate of 16.4% over the forecast period i.e. 2016-2023 owing to the strong government initiatives and rising smart phone and tablet user in the country. Mobile e-learning segment is anticipated to dominate the market over the forecast period. the segment is estimated to account a market share of 35% by the end of 2023 due to increasing internet penetration and rising mobile and tablet users in the country.
Get more information on this report: Download Sample PDF
On the back of positive growth of country’s corporate sector, the corporate end user segment is anticipated to show a promising growth over the forecast period. By component, content segment is anticipated to expand at a higher pace over the forecast period due to the increasing demand for education content over the online education portals. Promotion of digitization of learning and training by providing electronic gadgets to the population by the Malaysian government authorities is taking the Malaysia online education market a step ahead in the sector of online education/e-learning.
The rapid adoption of mobile technology is playing a vital role in the online education system. Students are more comfortable with the online education system these days as they can access the content more effectively and can spend more time in the learning process, this will further spur the growth of Malaysia online education market. Malaysia government is taking initiatives to promote education through online platform in order to increase the adoption of technology among younger generation and to provide affordable and convenient education to overcome the shortage of quality education. The strong government initiatives are pushing students to enrol in the online education platform for higher education; this will further propel the market growth at ever-increasing rate.
Introduction of new and effective mandates for the digitization of textbooks in academic sector and promotion of online education platform by providing tablets and laptops to the students of schools, colleges and universities is expected to expand the market growth over the forecast period. Online education system provides advanced technology graphics and simulation which makes easy to understand the concepts. This is further expected to raise the growth for the online education market in Malaysia. Growing need of highly developed IT infrastructure and lack of professional academic staff are some of the factor that can restrain the market growth over the forecast period.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Yashika Karodiwal, Radhika Gupta