Online Education Market, Size, Global Forecast 2022-2027, Industry Trends, Share, Growth, Impact of COVID-19, Opportunity Company Analysis

Online Education Market, Size, Global Forecast 2022-2027, Industry Trends, Share, Growth, Impact of COVID-19, Opportunity Company Analysis

Over the years, the ubiquity of information technology has been influencing almost all aspects of human lives: the way we work, communicate with others, process data into information, analyse and share information, entertain ourselves, and enjoy tourism. Further, the e-evolution or e-revolution led to e-mails, e-commerce, e-government, and now has e-education. E-learning or online education is transforming the way we approach teaching and learning. The concept of e-learning is a technology-mediated learning approach of great potential from the educational perspective, and it has been one of the leading research lines of Educational Technology in the last decades. As per Renub Research, the Global Online Education Market will reach US$ 585.48 Billion by 2027.

COVID-19 Transformed the Global Online Education Market:

Recently, the digital transformation of education systems at all levels has allowed incorporating a new teaching-learning ecosystem called e-learning. Further, the COVID-19 pandemic caused the closing of classrooms worldwide and forced a billion students and millions of educators to modify their face-to-face academic practices wherever possible suddenly. This situation showed the strengths and weaknesses of education systems facing the challenge of digitalization. Although the rapidly spreading coronavirus harshly affected all businesses, the online education system surprisingly showed lucrative growth opportunities amid the threatening pandemic. Worldwide Online Education Industry is expected to grow with a double-digit CAGR of 13.8% during 2021 -2027.

Future Trends expected to recur in the Global Online Education Market:

• Gamification concepts to enhance user engagement.
• Players in the e-learning space to adopt a hybrid channel approach.
• Online education will unfold the concept of connected learning.
• Business model evolving in line with shifting customer requirements.
• Technological variations in the supply and demand ecosystem.

Academic as End User Holds Major Market Share:

In addition, the end-users using the online education delivery models like Academic (Higher Education, Vocational Training and K-12 Education), Corporate (Large Enterprises and SMBs) and Government have witnessed rapid and transformational application for their end-use. Recently, in academics, the institutions like Higher Education, Vocational Training and K-12 Education worldwide have also adapted to online education, a dynamic education landscape generating immense interest among researchers, educators, administrators, policymakers, publishers, and businesses. As per our analysis, academic as end-user holds a significant market share in the online education market, facilitating asynchronous and synchronous education delivery methods and access to online discussion boards, chat rooms, and video conferencing.

Global Online Education Market Size was valued at US$ 269.87 Billion in the year 2021

Over the years, information and communication technologies have kept advancing. Hence, online education has become more feasible technologically, economically, and operationally. By Technology, we have covered the market for Online e-learning, Learning Management systems (LMS), Mobile e-learning, Rapid e-learning and Virtual classroom. Further, the incentives to universities to offer online programs like financial constraints and rewards, increase in non-traditional students working full time, and the advanced state of Technology make it easy to implement.

Asia-Pacific and North America have the promising Online Education Market:

We have segmented the Global Online Education Industry based on North America, Europe, Asia-Pacific's, South America and Middle East & Africa. As per our analysis, Asia-Pacific and North America hold the top two positions in the market. Asia-Pacific, a developing region, leverages the latest advancements such as the hybrid model, new and unique subjects, gamification, peer-to-peer learning, and profile mapping.

The significant drivers for online education in Asia-Pacific include phenomenal growth in Internet and smartphone penetration; digital-friendly government policies; and escalating demand by working professionals and job-seekers for continuing education Further, the development of online education enrolments in the North American region has increased year on year irrespective of an expanding or shrinking economy and rising or declining overall college enrolments. Besides, the continued growth of online programs in countries like Canada and the United States, especially for education, seems to be on the horizon during the forecasted years.

Key Companies:

The primary key companies studied in our report include Coursera, Instructure Inc., Byju's, Adobe Inc. and Alphabet Inc. These companies deliberately focus on developing innovative learning & education solutions that help gain a competitive position in the global market. Moreover, emphasis on inorganic growth strategies such as strategic collaborations and mergers & acquisition activities with technology partners is further expected to expand their solutions and enable them to remain competitive in the online education market worldwide. For instance, in July 2021, BYJU'S acquired the U.S.-based kids learning platform Epic in a US$ 500 Million cash-and-stock deal.

Renub Research latest report “Online Education Market, Global Forecast By User Type (Academic (Higher Education, Vocational Training, K-12 Education and Others), Corporate (Large Enterprise and SMBs and Government), Provider (Services and Content), Technology (Online e-learning, Learning Management System (LMS), Mobile e-learning, Rapid e-learning, Virtual classroom and Others), Region (North America (United States and Canada), Europe (United Kingdom, Germany, France, Italy, Spain and Russia), Asia-Pacific (China, India, Japan, South Korea, Singapore and Australia), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Middle East & Africa), Companies (Coursera, Instructure Inc., Byju's, Adobe Inc. and Alphabet Inc)” provides a detailed analysis of Online Education Industry.

User Type Global Online Education Market:

1. Academic

• Higher Education
• Vocational Training
• K-12 Education
• Others

2. Corporate

• Large Enterprises
• SMBs

3. Government

Provider - Global Online Education Market has been done 2 viewpoints:

1. Services
2. Content

Technology - Global Online Education Market has been done 6 viewpoints:

1. Online e-learning
2. Learning Management System (LMS)
3. Mobile e-learning
4. Rapid e-learning
5. Virtual classroom
6. Others

Region - Global Online Education Market has been done 5 viewpoints:

1. North America

• United States
• Canada

2. Europe

• United Kingdom
• Germany
• France
• Italy
• Spain
• Russia

3. Asia-Pacific

• China
• India
• Japan
• South Korea
• Singapore
• Australia

4. South America

• Brazil
• Argentina
• Chile
• Colombia
• Rest of South America

5. Middle East & Africa

Company Insights:

• Overview
• Recent Development
• Revenue

Company Analysis

1. Coursera
2. Instructure Inc.,
3. Byju's
4. Adobe Inc.
5. Alphabet Inc