Online Self-Study Market - Global Outlook & Forecast 2023-2028

Online Self-Study Market - Global Outlook & Forecast 2023-2028

The global online self-study market is expected to grow at a CAGR of 14.59% from 2022 to 2028.

MARKET TRENDS & OPPORTUNITIES

Increasing Use of AI & ML

The increasing use of artificial intelligence (AI) and machine learning (ML) in the online self-study market is driven by several factors that have revolutionized how learning platforms operate. AI and ML algorithms can analyze vast amounts of learner data, such as their preferences, learning styles, strengths, and weaknesses. This data-driven approach enables platforms to offer personalized learning experiences by recommending relevant courses, modules, or resources tailored to each learner's needs. Learners benefit from a customized learning path that maximizes their understanding and retention of the material.

The Introduction of 5G Technology

The introduction of 5G technology is playing a significant role in driving the growth of the global online self-study market. 5G offers significantly faster and more reliable internet connectivity compared to previous generations of mobile networks. This high-speed connectivity enables seamless streaming of educational content, including videos, lectures, and interactive materials. Learners can access and engage with online self-study resources without interruptions or buffering delays, enhancing the overall learning experience. Additionally, with the increased bandwidth and lower latency of 5G, online self-study platforms can offer richer multimedia content. High-quality videos, simulations, virtual reality (VR), and augmented reality (AR) applications become more accessible and immersive, enabling learners to engage with dynamic and interactive learning materials. This enhanced multimedia learning experience can significantly improve comprehension and retention of complex concepts.

INDUSTRY RESTRAINTS

Limited Interactivity & Engagement

One of the challenges faced by the online self-study industry is limited interactivity and engagement. Interactivity and engagement are crucial factors for effective learning. When studying online, learners often miss out on the benefits of face-to-face interactions, such as immediate feedback, dynamic discussions, and peer collaboration. These elements can enhance understanding, deepen knowledge, and promote critical thinking. Online self-study courses often rely on pre-recorded videos or written materials. While these resources can provide valuable information, they typically lack personalized feedback. Learners may have questions or need clarification, but obtaining timely and tailored feedback becomes difficult without direct interaction with instructors or peers.

Effects of Looming Recession

The global online self-study market has experienced steady growth in recent years, driven by factors such as the increasing penetration of technology in education, the growing demand for affordable and flexible education options, and the need for upskilling and reskilling in a rapidly evolving job market. However, an impending recession could significantly impact the growth trajectory of the global online self-study market.

SEGMENTATION INSIGHTS

INSIGHTS BY DELIVERY MODE

Online self-study encompasses various courseware and content delivery services for various end-user applications. Packaged content, LMS, and other emerging learning avenues, including serious games and gamified mobile applications, are the most prominent. Other important learning models increasingly gaining prominence include video-based learning, virtual classrooms, social learning, gamification, and simulations. Of all these, gamification and virtual classrooms stand out due to their high engagement level and perceived effectiveness. Packaged content encompassing ready-to-share e-books, videos, and simulations has existed since the conception of online learning platforms. Packaged content dominated the global online self-study market in 2022, followed by the LMS system, enabling easy collaboration of content, testing material, and information exchange among peer groups in the academic and corporate worlds.

Segmentation by Delivery Mode

• Packaged Content
• LMS
• Others

INSIGHTS BY FUNCTION

The function of online self-study courses can be broadly divided into the following two categories: training and testing. The training function facilitates the learners with lectures (live or recorded) along with necessary notes or other relevant content. Testing plays a vital role in measuring the grasping capacity of a learner. It also certifies how well a student has learned a particular subject or course. In 2022, the global online self-study market was dominated by training functions.

Segmentation by Function

• Training
• Testing

INSIGHTS BY LEVELS

In the online self-study market, educational content and resources are often designed to cater to learners at different proficiency levels, including beginners, intermediate, and advanced learners. Online self-study platforms offer comprehensive resources for beginners starting their learning journey in a particular subject or skill. The beginners level held the largest share of the market in 2022. The beginner level in the market comprises individuals new to the subject or skill. Many people interested in exploring a new field or career path will start at the beginner level. They seek accessible and beginner-friendly content that helps them acquire a new skill or hobby. Professionals who want to switch careers or acquire new skills relevant to their current job may start at the beginner level. They look for courses that equip them with the necessary knowledge and skills to advance in their careers.

Segmentation by Levels

• Beginners
• Intermediate
• Advanced

INSIGHTS BY END-USERS

The global online self-study market by end users is broadly divided into K-12, higher education, corporate, government, and vocational. The corporate segment held the largest share of around 34% in 2022. Corporates use Online Self-Study to upskill, reskill, and enhance the value of employees across organizations. They are constantly looking to increase the effectiveness and efficiency of their workforce. There is a constant requirement to upskill the existing personnel. Online Self-Study provides essential skills to employees and makes them more valuable to the company.

Segmentation by End-User

• Corporate
• Higher Education
• K-12
• Government
• Vocational

GEOGRAPHICAL ANALYSIS

North America dominated the global online self-study market, accounting for over 46% in 2022, owing to efficient learning infrastructure and the development of innovative learning methodologies. The U.S. and China were the world's two largest online self-study marketplaces in terms of revenue. However, during the projection period, APAC, particularly India, the Middle East & Africa, is predicted to have tremendous development potential.

Segmentation by Geography

• North America
• The U.S.
• Canada
• APAC
• China
• South Korea
• Japan
• Australia
• India
• Singapore
• Europe
• The U.K.
• Germany
• France
• Nordic
• Spain
• Italy
• Latin America
• Brazil
• Mexico
• Argentina
• Chile
• Middle East & Africa
• GCC
• South Africa
• Turkey
• Egypt

COMPETITIVE LANDSCAPE

The global online self-study market is highly competitive and is characterized by numerous players operating. These players constantly strive to gain a larger market share by introducing new and innovative products and services. Some dominant players in the global online self-study market include Blackboard, British Council, Oracle, Pearson, Aptara, Adobe, Skillsoft, and NIIT. Vendors in the market face tough competition from other vendors in the online education sector, including companies that offer online learning programs. Further, another strategic problem for online self-study companies is determining the proper pricing to evaluate and collect potential customers' marginal utility adequately.

Key Company Profiles

• Adobe
• Aptara
• Blackboard
• British Council
• Coursera
• NIIT
• Oracle
• Pearson
• Skillsoft
• Udemy

Other Prominent Vendors

• Age of Learning
• Babbel
• BenchPrep
• Blinkist
• BYJU'S
• Cengage Learning
• Cisco Systems
• Chegg
• Cornerstone
• Codecademy
• CreativeLive
• DataCamp
• D2L
• Docebo
• Domestika
• Duolingo
• edX
• eLearn Australia
• Estacio
• FutureLearn
• GP Strategies
• General Assembly
• GoSkills
• Instructure
• iHASCO
• ITPro
• John Wiley & Sons (CrossKnowledge)
• Litmus
• LinkedIn (Microsoft)
• 360Learning
• LearnQuest
• Learnetic
• McGraw Hill
• MasterClass
• Macmillan Education
• NVIDIA
• OpenSesame
• Pluralsight
• Thomson Reuters
• Rosetta Stone
• Simplilearn
• Skillshare
• Sorting Hat Technologies (Unacademy)
• Tracxn Technologies
• Treehouse Island
• Teachlr
• Udacity

KEY QUESTIONS ANSWERED:

1. How big is the online self-study market?

2. What is the growth rate of the global online self-study market?

3. What are the growing trends in the online self-study market?

4. Which region is expected to have the highest global online self-study market growth rate?

5. Who are the key players in the global online self-study market?

6. Which end-user accounted for the largest global online self-study market share 2022?