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Global Online Education Market to record growth of $148.22 bn by 2027

The Global Online Education market is estimated to grow by USD 148.22 billion at a Compound Annual Growth Rate (CAGR) of 9.49% from 2022 to 2027, according to Technavio. Read More

Saturday February 3, 2024 10:11 PM , ummid.com News Network

New York: The Global Online Education market is estimated to grow by USD 148.22 billion at a Compound Annual Growth Rate (CAGR) of 9.49% from 2022 to 2027, according to Technavio.

Online Learning Classification

Technavio has segmented the online education market based on Type - Primary and secondary supplemental education, Reskilling and online certifications, Higher education, Test preparation, and Language and casual learning; End-user - Academic, Corporate, and Government; and Geography - North America, APAC, Europe, South America, and Middle East and Africa.

Growth by Type

The market share growth by the primary and secondary supplemental education segments will be significant during the forecast period.

The online education segment offers individualized learning through subscription-based courses, catering to STEM subjects like science, technology, engineering, and mathematics. It's evolving from a B2B to a C2C model.

This approach integrates real-world applications into the curriculum, emphasizing gaming elements to enhance critical thinking and problem-solving skills in students.

Growth by Geography

By geography, the global online education market is segmented into North America, APAC, Europe, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global online education market.

North America is projected to account for 33% of the market's growth by 2027. North America shows a strong adoption of digital education, with a focus on flexible learning through new technologies.

The US leads the region's online education market due to the popularity of online degrees.

Driving force

The shift towards mobile devices like smartphones and tablets is driving investments in educational content, enhancing learning efficiency for students.

Technavio further said increasing focus on language learning is a key factor driving growth.

"Language learning is increasingly emphasized in academic settings globally. Governments like the UK and China are promoting this trend. In the UK, there's a focus on European languages due to Brexit's impact on the country's global standing. The rise in international student enrollments has intensified competition, with language exams like TOEFL and IELTS becoming crucial for admissions", it said.

The key companies in online edication market, according to Technavio, are 2U Inc, Alef Education Consultancy LLC, Ambow Education Holding Ltd, Aptara Inc, Cengage Learning Inc, Coursera Inc, edX LLC, General Assembly Space Inc, Instructure Holdings Inc, ITS EDUCATION ASIA, iTutorGroup Ltd, iversity Learning Solutions GmbH, LinkedIn Corp, McGraw Hill Education Inc, Online Education Pty Ltd, Pearson Plc, Pluralsight Inc, Think and Learn Pvt Ltd, Udacity Inc, and Udemy Inc.

Advantages of Online Education

Online Education offers various benefits, leveraging E-learning platforms, Online courses, and Virtual classrooms to deliver education remotely. MOOCs (Massive Open Online Courses) and EdTech (Educational Technology) enhance accessibility and engagement, while Distance learning and Digital textbooks provide flexibility and cost-effectiveness.

Learning management systems (LMS) and Online degree programs streamline education delivery, and Webinars facilitate interactive learning experiences. Remote education and Online tutoring services cater to diverse learning needs, with Adaptive learning platforms and Synchronous/Asynchronous learning adapting to individual paces.

Gamification in education and Microlearning enhance engagement and retention, while Blended learning combines online and in-person elements. Mobile learning offers on-the-go access, and Virtual reality (VR) and Augmented reality (AR) in education provide immersive experiences.

Flipped classrooms and Competency-based education personalize learning paths, ensuring holistic, flexible, and interactive education experiences.

 

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