HomeBusinessONLINE EDUCATION Market to Reflect Impressive Growth (USD 132.98 billion) by 2023 | Lynda.Com, Pearson PLC, McGraw-Hill Education
ONLINE EDUCATION Market to Reflect Impressive Growth (USD 132.98 billion) by 2023 | Lynda.Com, Pearson PLC, McGraw-Hill Education
January 24, 2020
“ONLINE EDUCATION” Market latest research study released by Report Ocean provides an in-depth assessment of the ONLINE EDUCATION including key market trends, upcoming technologies, industry drivers, challenges, regulatory policies, key players company profiles and strategies. The latest research study provides market opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support for business intelligence.
The global online education market is expected to reach USD 132.98 billion by 2023
Global ONLINE EDUCATION Market by by Type, Method, by Application, and Regions – Americas, Europe, Asia-Pacific and Middle East & Africa and Forecast till 2023
The key players of online education market include Lynda.Com (US), Pearson PLC (London), McGraw-Hill Education (US), Blackboard Inc. (US), Aptara Inc. (US), Adobe Systems Inc. (US), Docebo (Toronto), Edmodo (US), PowerSchool Group LLC (US), Tata Interactive Systems (India), K12 Inc. (US), Udacity, Inc. (US), and Classteacher Learning Systems (India).
> The global online education market is expected to reach USD 132.98 billion by 2023
> By component, hardware is leading the market, generating the highest revenue of USD 19.92 billion in 2017 and is expected to grow at 27.2% CAGR. Whereas software is expected to be the leading market in the future, growing at 31.2% CAGR
> By product, content is leading the market by generating the highest revenue of USD 16.16 billion in 2017 and is expected to grow at 27.35% CAGR. Whereas services are expected to be the leading market in the future, growing with 30.77% CAGR
> By learning type, asynchronous learning is leading the market by generating the highest revenue of USD 16.21 billion in 2017 and is expected to grow at 27.35% CAGR. Whereas synchronous learning is expected to be the leading market in the future, growing at 31.01% CAGR
> By vertical, industry and professional sector is expected to witness a high market growth in coming years. It is expected to grow at the highest CAGR of 32.1% and estimated to generate high market value of USD 49.8 billion by 2023
> Geographically, North America has been projected to hold the largest market share in the global online education market followed by Asia-Pacific.
The global online education market has been witnessing a huge growth over the last few years. The factors responsible for the growth of the online education market include increasing Internet and smartphone penetration and increasing government initiatives to develop digital education infrastructure. Online education eliminates the infrastructure cost and offers various courses on demand. Additionally, online education is aided with the cloud which makes the study material accessible from anywhere and at any time. However, lack of awareness and abundance of free content are the challenges faced by the online education market on a global scale.
The global online education market is expected to reach approximately USD 132.98 billion by 2023, growing at a CAGR of 28.55% from 2017 to 2023.
The market has been divided into various segments based on component, product, learning type vertical, and region.
By component, the market is segmented into hardware and software. Hardware segment is broadly segmented into laptop, mobile, PC and others. Laptops are widely used hardware component and are expected to hold a major share of the market. Whereas, the mobile segment is expected to grow at the highest rate during the forecast period due to increasing adoption of smartphones worldwide. Software segment comprises various solutions for learning management systems which allows organization to train and track employees, students, customer and vendors. Examples of such software solutions include WorldClass, Courseplay, YuJa, and others.
By product, the market is broadly classified into content and services. The content comprises science, commerce, management, arts and other streams. Whereas, the services segment comprises primary & secondary supplementary education, test preparation, online certifications, higher education & language, casual learning, and others. The test preparation segment is expected to show major growth owing to the increasing inclination of students and learners. Online certifications segment is also expected to grow at a significant rate during the forecast period.
Furthermore, the years considered for the study are as follows:
Historical year – 2013-2017
Base year – 2018
Forecast period** – 2019 to 2023 [** unless otherwise stated]
Geographically, North America is dominating the online education market due to a mature education market and high demand for K-12 and post-secondary online education. The US is a prominent market due to US government initiatives promoting online education which is expected to influence the market. Asia-Pacific is the fastest growing region, accounting for a 31.28% share of the overall market where major contribution is witnessed from countries like China and South Korea, due to significant investments in the IT infrastructure and increasing use of smartphones for online services.
The market research study offers in-depth regional analysis along with the current market scenarios. The major regions analyzed in the study are:
Major Highlights of TOC:
Chapter One: ONLINE EDUCATION Market Industry Overview
1.1 ONLINE EDUCATION Industry
1.1.2 Products of Major Companies
1.2 ONLINE EDUCATION Market Segment
1.2.1 Industry Chain
1.2.2 Consumer Distribution
1.3 Price & Cost Overview
Chapter Three: ONLINE EDUCATION Market by Type
3.1 By Type
3.1.1 TYPE 1
3.1.2 TYPE 2
3.2 ONLINE EDUCATION Market Size by Type
3.3 ONLINE EDUCATION Market Forecast by Type
Chapter Four: Major Region of ONLINE EDUCATION Market
4.1 ONLINE EDUCATION Sales
4.2 ONLINE EDUCATION Revenue & market share
Chapter Five: Major Companies List
Chapter Six: Conclusion
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