Online Education Market Overview
Online Education Market Size was valued at USD 47,230.48 million in 2022. The Online Education Market industry is projected to grow from USD 58,137.6 Million in 2023 to USD 3,13,302.1 million by 2032, exhibiting a compound annual growth rate (CAGR) of 20.6% during the forecast period (2023 - 2032).
Online education is an electronically supported learning system that relies on the Internet to interact and distribute course material between students and teachers. The growing demand to reduce the cost of education, increasing government initiatives supporting online education, and increasing penetration of smartphones and the Internet are the factors contributing to the growth of the Online Education Market. Additionally, the market is also expected to be boosted owing to the increasing demand for adaptive learning. In recent years, the online education market has grown rapidly, and the COVID-19 pandemic has accelerated this trend as more and more people have had to rely on online education.
As per Analyst at MRFR, “The Online Education industry has seen several growth factors in recent years, fueled by high cost of conventional education and increasing government initiatives”.
FIGURE 1: ONLINE EDUCATION MARKET SIZE 2022-2032 (USD MILLION)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Online Education Market Trends
Increasing Demand For Adaptive Learning
E-learning resources are self-contained and can be accessed whenever the user desires. They do not necessitate the learner's actual presence in a classroom. Students can also use the system to download and save their learning materials for later use. E-learning systems can update study materials more frequently than classroom-based education systems. Once the study materials are in the system, they may be updated without having to replace the entire set, and they can be accessed and reused for longer periods. For many students, e-learning is a convenient way to learn. Most study resources are kept so that students can access them whenever they wish. Students can also opt for an instructor-led or self-paced learning system. Students can also skip through study materials they already know in e-learning systems and pick and select which ones they want to learn.
A global learning society E-learning technologies contribute to the creation of a global learning society by allowing everyone, regardless of geographic location, to access study resources. Learners can now contribute to study materials using the systems that are now accessible, which helps keep the contents up to date. Thus, the increasing demand for adaptive learning is expected to present lucrative opportunities for the players operating in the Online Education Market.
Online Education Market Segment Insights
Online Education Component Insights
Based on Component, the Online Education Market has segmented into educational tablets and software. Software held the largest market share in 2022. Any computer software designed for educational purposes is referred to as educational software. It covers a vast range of applications, from language learning software to classroom management software to reference software, and so on. This software exists to make some aspects of education more effective and efficient.
Online Education Deployment Insights
Based on Deployment, the Online Education Market has segmented into Cloud and On-premises. Cloud held a significant market share in the year 2022.Using the cloud for deployment of online education helps reduce IT administrator’s jobs by ensuring cost-effective and seamless deployment activities. With the adoption of the cloud-based deployment model, organizations benefit as it reduces the overall investments, improves implementation, gives scalability, offers easy access, and reduces complexities.
Online Education Product Insights
Based on Product, the Online Education Market is segmented into Elective and courses. Elective segment is further sub segmented into Technical and Non-technical. Courses are further subdivided into Primary & Secondary Education, Test Preparation, Online Certification, Casual Learning and Others. Courses held a significant market share in 2022. Online courses may be offered at various levels, from introductory to advanced, and may be designed for a variety of learners, from beginners to professionals. Courses may be part of a degree program or offered as standalone modules and may be delivered through a variety of formats. Elective types of products in online education enable learners to choose the curriculum in subjects such as music, technology, computer programming, business concepts, among others.
Online Education Learning Type Insights
Based on Learning Type, the Online Education Market is segmented into Synchronous and Asynchronous. Furthermore, Asynchronous is sub segmented into Digital Curriculum Material, Discussion Board, Others. Synchronous learning refers to online learning experiences where students and instructors interact in real-time, often through virtual classrooms or webinars.
FIGURE 2: ONLINE EDUCATION MARKET, BY LEARNING TYPE, 2022 VS 2032 (USD MILLION)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Online Education End User Insights
Based on End User, the Online Education Market is segmented into Higher Education, K12, Corporate, and Others. K12 held the largest market share among all in the year 2022. K12 segment refers to online education programs and courses that are designed for students in kindergarten through grade 12. This includes online courses for individual subjects, virtual classrooms, and digital curriculum systems that are used by teachers in K-12 schools.
Online Education Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. North America is the most significant revenue contributor to the online education market. The region is anticipated to witness considerable growth over the forecast period due to the increasing investment in online education platforms among enterprises. The rapid adoption of cloud-based learning and the availability of numerous e-learning portals have significantly enhanced the learning experience quality.
Asia-Pacific is the third-largest market for the online education market. However, the regional market is expected to grow with the fastest CAGR compared to other regions. This can be attributed to the growing businesses across the region owing to the leading company’s expansion strategies. Furthermore, government initiatives for boosting digitization and the increasing digital platform propelled the market growth.
Europe is predicted to register steady growth in the Online Education Market during the forecast period owing to the rising adoption of online courses by various students in the region. Additionally, various companies are also offering many software and services associated with online education in the region.
FIGURE 3: ONLINE EDUCATION MARKET SIZE BY REGION 2022 VS 2032
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Further, the major countries studied in the market report are the U.S, Canada, Mexico, Germany, UK, France, China, Japan, and India.
Online Education Key Market Players & Competitive Insights
The Online Education Market is characterized by the presence of many global, regional, and local vendors. The Online Education Market has witnessed significant growth over the forecast period due to the high cost of conventional education. There are several domestic, regional, and global players operating in the Online Education Market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the Online Education Market who have contributed to the market growth. During the study, MRFR has analyzed some of the major players in the Online Education Market who have contributed to the market growth includes LinkedIn Corporation (Lynda.com), Coursera, Pearson, McGraw Hill , MPS Interactive Systems Limited , Udacity, Inc , edX Inc.(2u), BLACKBOARD INC , Udemy Inc., APTARA INC , BYJU'S , Stride, Inc (K12), ADOBE , PowerSchool among others.
These players focus on expanding and enhancing their product portfolio and services to remain competitive and increase their customer base. Additionally, these players are focusing on partnerships & collaborations to expand their business and customer base to enhance their market position.
Key Companies in the Online Education Market include
- LinkedIn Corporation (Lynda.com)
- Pearson
- Coursera
- McGraw Hill
- MPS Interactive Systems Limited
- Udacity, Inc
- edX Inc.,
- BLACKBOARD INC
- Udemy Inc.
- APTARA INC
- BYJU'S
- Stride Inc (K12)
- ADOBE
- PowerSchool
Online Education Industry Developments
- In April 2023, New VR course experiences from prestigious colleges and AR content from Meta are now available on Coursera. Virtual, mixed, and augmented worlds have the potential to revolutionize both work and education. They are pleased to share new VR-enabled course offerings from Duke University, Peking University, and the University of Washington that amplify the immersive nature of learning.
- In March 2023, Stride and Rebel Girls partnered and created a collections of Rebel Girls book and audio recordings within its Stride Learning Hub, an online teaching tool that allows educators to customize each course with Stride activities, classes, and assessments.
Online Education Market Segmentation
Online Education Component Outlook
- Educational tablets
- Software
Online Education Deployment Outlook
Online Education Product Outlook
-
Elective
-
Courses
- Primary & Secondary Education
- Test Preparation
- Online Certification
- Casual Learning
- Others
Online Education Learning Type Outlook
-
Synchronous
-
Asynchronous
- Digital Curriculum Material
- Discussion Board
- Others
Online Education End User Outlook
- Higher Education
- K12
- Corporate
- Others
Online Education Regional Outlook
-
North America
-
Europe
- UK
- Germany
- France
- Rest of Europe
-
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
-
Middle East & Africa
-
South America
|
Report Attribute/Metric
|
Details
|
|
Market Size 2022
|
USD 47230.48 Million
|
|
Market Size 2023
|
USD 58,137.6 Million
|
|
Market Size 2032
|
USD 3,13,302.1 Million
|
|
Compound Annual Growth Rate (CAGR)
|
20.6% (2023-2032)
|
|
Base Year
|
2022
|
|
Market Forecast Period
|
2023-2032
|
|
Historical Data
|
2018- 2021
|
|
Market Forecast Units
|
Value (USD Million)
|
|
Report Coverage
|
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
|
|
Segments Covered
|
Component, Deployment, Product, Learning type, End User and Region
|
|
Geographies Covered
|
Europe, North America, Asia-Pacific, Middle East & Africa, and South America
|
|
Countries Covered
|
U.S, Canada, Mexico, Germany, UK, France, China, Japan, and India.
|
|
Key Companies Profiled
|
LinkedIn Corporation (Lynda.com), Coursera, Pearson, McGraw Hill, MPS Interactive Systems Limited, Udacity, Inc., edX Inc., BLACKBOARD INC, Udemy Inc., APTARA INC, BYJU'S, Stride Inc (K12), ADOBE, PowerSchool.
|
|
Key Market Opportunities
|
Increasing demand for adaptive learning.
|
|
Key Market Dynamics
|
High cost of conventional education.
Increasing government initiatives.
|
Frequently Asked Questions (FAQ) :
The Online Education Market size is expected to be valued at USD 47230.48 Million in 2022.
The global market is projected to grow at a CAGR of 20.6 % during the forecast period, 2023-2032.
North America had the largest share of the global market.
The key players in the market are LinkedIn Corporation (Lynda.com), Coursera, Pearson, McGraw Hill , MPS Interactive Systems Limited , Udacity, Inc , edX Inc.(2u), BLACKBOARD INC, Udemy Inc., APTARA INC , BYJU'S , Stride, Inc (K12), ADOBE , PowerSchool among others .
The Software category dominated the market in 2022.
