USD 31.20 billion
Report ID: SQMIG25R2015 | Region: Global | Published Date: July, 2023 | Pages: 157 | Tables: 61 | Figures: 77
Global Online Education Market size was valued at USD 31.20 billion in 2021 and is poised to grow from USD 38.72 billion in 2022 to USD 175.52 billion by 2030, at a CAGR of 24.10% during the forecast period (2023-2030).
Global internet usage is rising, which will support industrial expansion. The burgeoning telecom and bandwidth industries have increased access to reasonably priced internet solutions. In order to satisfy the growing demand, many companies are focusing on offering specialised learning solutions. By 2028, we predict that more than 64% of all sales in the online education/e-learning sector would be made up of hardware. The digitization of education has increased the usage of cutting-edge hardware computing technologies in the educational process, including smartphones. Due to its better interoperability with different software solutions including assessment tools, apps, and games, tablets are predicted to be the device that is utilised in education the most. Nearly 300 million people, according to GSMA Intelligence, made their first internet connection. According to a GSMA report titled "State of the Mobile Internet Connectivity - 2022," 4.3 billion people would have access to mobile internet by the end of 2022, an increase of about 300 million customers/users. The recession, among other causes, caused funding to dry up for startups, which led to workforce reductions at digital education companies, which were the most severely impacted of all startups. One-third of individuals employed in the digital education sector, or approximately 10,000 workers, were let go by Indian startups between July 2022 and March 2023. End consumers are embracing online learning more frequently as a result of the availability of free information, and ed-tech companies see this as a new potential to make money. For instance, since making content freely available, BYJU, one of the most valuable Edtech start-ups in India, has added 7.5 million new users to its platform.
Global Market Size
USD 31.20 billion
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Global Online Education Market is segmented on the basis of learning type, component, software, end user and region. By end user, the market is segmented into academic institutions & individuals and enterprises. By learning type, market is segmented into self-paced and instructor-led. By component, the market is segmented into laptop, mobile, pc. By software, the market is segmented into world class, course play, yuja. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Online Education Market Analysis by Learning Type
In 2022, the self-paced market category held the top spot with a 65% market share worldwide. The benefits of self-paced learning include lower pressure during live training, the ability to set one's own schedule, less distraction, convenience for various learning styles, and lower cost. For instance, a large source of self-paced educational content is YouTube. Brain Pop and Brain Pop Jr., Education Galaxy, Gimkit, GrammarFlip, Kialo Edu, and Knoword are other resources that support self-paced learning.
During the forecast period, the segment that includes instructor-led classes is anticipated to grow at the highest CAGR. Instructor-led and self-paced learning styles are the market segments. The term "instructor-led learning" refers to education that is provided by one or more instructors in the form of lectures, presentations, demonstrations, and conversations in addition to other methods like face-to-face instruction. Although one-on-one training is less common and more expensive in comparison, the instructor typically addresses groups. To enhance the digital learning experience, the instructor-led training is credited with using a number of approaches, including games, exercises, and role-playing.
Global Online Education Market Analysis by End User
Over 80% of global revenue was generated by the academic institutions and individuals’ segment in 2022, which led the market. The market is segmented by end-users into individuals, businesses, and academic institutions. Adopting digital education as one of their offerings gives them a competitive advantage over academic institutions. During the epidemic, institutions that only operated offline were affected by the limits put in place; those who saw this as an opportunity and began providing online services will inevitably succeed where others fail.
In order for businesses to survive, they must use the digital medium. The best services must be offered to customers in order to meet their constantly changing expectations. The pandemic's aftermath has also greatly altered expectations. In order to succeed as a business, organizations must be able to meet these expectations and adapt to the new operating environment.
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By accounting for more than 38% of global revenue in 2022, North America will dominate the market. This is a result of the rapid product and geographic expansion strategy employed by market vendors to gain a competitive edge. The North American market, on the other hand, is anticipated to exhibit a consistent growth trend during the forecast period. Furthermore, it is anticipated that the North American region's digital education will improve as a result of the increased focus on infrastructure, network, and connectivity.
Over the forecast period, the Asia Pacific market is anticipated to have the highest CAGR. Due to the high smartphone ownership rates in emerging economies in the Asia Pacific region, there is considerable potential for the broad adoption of digital education. This is one of the key elements that experts believe will soon increase demand for digital education in this area. For instance, Nirmala Sitharaman, the union finance minister, introduced the PM eVidya Programme in India in May 2022 with the goal of promoting digital education in that country. It was decided to give teachers and students unrestricted access to digital learning.
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Global Online Education Market Drivers
Increasing Internet Penetration to Bolster market growth
Global Online Education Market Restraints
Regulatory Hurdles to Hinder market growth
Regulatory hurdles to slow down market growth in the online education market address the problems and barriers made by governments’ rules and legal orders against advancement in online education. The regulatory barriers might come in various forms, such as accreditation criteria, licensing processes, and compliance regulations that the online education suppliers are expected to meet. These barriers can have a significant impact on market growth as they increase the costs of entry, hinder other players from entering the market, and create cumbersome bureaucratic processes for existing firms. Also, inconsistent regulatory environments in diverse regions/countries may result in fragmentation of the market with respect to on-line education, thereby hindering expansion prospects and opportunities. In summary, such challenges make it difficult for both providers and consumers to participate in online education activities.
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Top Player’s Company Profiles in Global Online Education Market
Global Online Education Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global online education market has experienced significant growth in recent years, driven by the increasing demand for flexible, accessible, and affordable education options. The market is highly competitive, with numerous players offering a wide range of courses, programs, and certifications in various subject areas. The market is also highly fragmented, with no single provider dominating the industry. Key drivers of the online education market include the increasing adoption of mobile devices, rising demand for upskilling and reskilling in the workforce, growing acceptance of online education by employers and educational institutions, and the increasing availability of high-speed internet and advanced technology. The global online education market is expected to continue to grow at a significant pace in the coming years, driven by the increasing demand for accessible, affordable, and flexible education options. However, providers must adapt to evolving learner needs and preferences, while also addressing key challenges such as quality assurance, accreditation, and learner engagement.
|Market size value in 2021||USD 31.20 billion|
|Market size value in 2030||USD 175.52 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Online Education Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Online Education Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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