iCrowd Newswire - Sep 15, 2020
Zion Market Research has published a new report titled “Online Education Market, by Product (Content, Services), by Technology (Mobile Learning, Learning Management System, Virtual Class, Others), by Vertical (K-12, Higher Education, Corporate, Others), and by Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2019– 2026”. According to the report, the global online education market was valued at USD 29.45 Billion in 2019 and is expected to reach over USD 205.4 Billion by 2026, growing at a CAGR of around 32.7% during the forecast period from 2020 to 2026.
Online Education is the process of acquiring knowledge through electronic technologies and resources. A rise in the number of internet users has increased the market demand for sophisticated online learning courses. According to the Office for National Statistics, nearly all adults in the age group of 16 to 44 years in the UK were recent internet users (99%) in 2019.
According to the World Economic Forum, around 1.2 billion children are out of classrooms with schools shut down globally due to COVID-19 pandemic. Electronic Learning Management Systems such as Google Classroom are helping classes to connect distantly, communicate efficiently, and stay organized. Large-scale national efforts to leverage technology to the market players in support of distance education, remote, and online learning are emerging and evolving rapidly.
Recent technological advancements have seen exponential growth. In the education services sector, digital technology has advanced the concept of online education, which allows students from around the globe access educational content anytime and anywhere. In addition, there is no geographic barrier in the online education system which allows students from anywhere in the world to enrol in educational services. Furthermore, advances in interactive teaching methods in the online education field and highly cost-friendly technology make it possible for educational institutions to implement online education systems rapidly. In addition, due to the growing need for active learning the market is also expected to be improved. The availability of abundant free content and lack of knowledge, however, is constraining market development.
On the basis of segmentation the online education market is segmented by product, technology, vertical, and region. On the basis of product the market is segmented as content, services. Also, by technology, it is segmented as mobile learning, learning management system, virtual class, others. Further, on the basis of vertical it is segmented as K-12, higher education, corporate, others. Higher education is the largest category in terms of online education, due to its prominence among end users. Online education provides students with various courses and certifications in higher education while training users in online learning elements such as videos and chat rooms. Lastly, on the basis of region it is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest market share. The market for online education in North America is driven by well-established infrastructure, highly skilled workforce and growing demand for BYOD by corporate organizations.
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The key players in global online education market are Lynda.Com, Pearson PLC, McGraw-Hill Education, Blackboard Inc., Aptara Inc., Adobe Systems Inc., Docebo, Edmodo, PowerSchool Group LLC, Tata Interactive Systems among others.
The report segments global online education market into:
Global Online Education Market: Product Segment Analysis
Global Online Education Market: Technology Segment Analysis
- Mobile Learning
- Learning Management System
- Virtual Class
Global Online Education Market: Vertical Segment Analysis
- Higher Education
Global Online Education Market: Regional Segment Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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Keywords: Online Education Market