Market Research Future (MRFR) forecasts the “Online Education Market information by Learning Type, by Components, by Vertical and Region – forecast to 2030” market size will reach USD 197.64 billion by 2030, increasing at a compound yearly growth rate of 22.7 percent.
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Table of Contents
Online Education Market Size By 2030
Market Scope:
Over the projected period, the market would benefit from the growing use of machine learning and artificial intelligence in online education.
Machine learning and AI are becoming more popular among online learning platforms since they allow for tailored information based on each student’s prior knowledge and provide a one-size-fits-all approach.
Furthermore, by combining machine learning and artificial intelligence, it is able to swiftly analyze large volumes of data and detect patterns and trends in order to continuously improve and augment learning experiences.
It also aids in making the course production process more efficient, straightforward, and nimble without losing quality.
Exclusively Included in the Market USP:
Market Forces
Over the forecast period, higher adoption of skill development and employment will enhance the market growth. Working professionals are focusing on skill development in order to advance their careers and add value to their expertise.
In fact, this trend can be noticed among working professionals of all ages. This is because, unlike traditional classrooms, digitized courses provide ease and flexibility because students may access the curriculum at any time and from any location.
As a result, the market expansion will be fueled by greater use of skill development via online certificates on digital platforms, notably in tier 1 cities.
Infrastructure is insufficient to operate as a market restraint
Over the projection period, market limitations could include a lack of infrastructure and an important learning environment.
Market Challenge: A Lack of Face-to-Face Interactions
In the forecast period, market challenges could include a lack of face-to-face interactions in online learning, the need for higher self-motivation, imbibition of theoretical knowledge, lack of practical knowledge, a lack of online education services for the dumb and deaf, issues with educational quality, and low teacher control over students.
Market Segmentation Involved in the Study:
Vertical, learning type, product type, and component type have all been used to segment the worldwide online education market.
The online education market is divided into two types of components: software and hardware.
The online education market is divided into two types of products: services and content.
The online education market is divided into two types of learning: asynchronous and synchronous.
The online education market is divided into verticals such as professionals, industry, higher education, k-12, and others.
Analyses by Region:
North America is poised to dominate the online education market
During the forecast period, North America will dominate the online education market. The availability of highly sophisticated internet infrastructure, the presence of well-established infrastructure, the presence of a highly-skilled workforce, the growing demand and adoption of BYOD policies among corporate enterprises, the presence of key players, the presence of top universities, the availability of highly sophisticated internet infrastructure, increased competition among service providers, key players offering more security for data via ensuring greater outreach and quick access, technological advances, increased use of BYOD policies among corporate enterprises, the presence of key players, the presence of key universities, the availability of highly
The market for online education in APAC is expected to grow at a rate that is commendable
Over the projection period, the APAC region will see impressive growth in the online education industry.
Rising internet use, rising smartphone adoption, the presence of leading economies such as Japan, China, and India, a large number of educational institutions, rising use of online education services, rising adoption of cloud-based smart learning solutions at the time of the pandemic, notable investments in the creation of IT infrastructure, and developments in the education sector such as learning management.
Impact of COVID-19 on the Global Online Education Market
The spread of COVID-19 had a favorable impact on the online education business. As a result of the virus’s spread, schools, colleges, and other institutions were forced to close, resulting in a surge in demand for online lessons.
Industry Updates
Mississippi State University’s ACCESS Program has recently increased its reach by offering online enrichment courses. The course is open to all students aged 14 and up, regardless of disability or academic standing.
This program will assist students in building self-advocacy skills, enhancing functional life skills, boosting independence, expanding college and career readiness, and improving functional life skills.
This online course requires a simple registration form, and the classes will be offered during MSU’s summer, spring, and fall semesters.
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