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Online Education Market 2019 Global Profit Growth, Sales Revenue, Emerging Technologies, Competitive Landscape, Top Key Players Study and Business Trends by Forecast 2023

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Online Education Market 2019 Global Profit Growth, Sales Revenue, Emerging Technologies, Competitive Landscape, Top Key Players Study and Business Trends by Forecast 2023

April 23
06:52 2020
Online Education Market 2019 Global Profit Growth, Sales Revenue, Emerging Technologies, Competitive Landscape, Top Key Players Study and Business Trends by Forecast 2023

Online Education Market
Global Online Education Market has generated USD 29 billion in 2017 and presumed to grow at approximately 28.55% CAGR during forecast period 2017-2023 and Online Education Market Research Report: Information by Component (Hardware, Software) By Product (Content, Services) By Learning (Synchronous, Asynchronous).

Online Education Market Scenario:

Online Education (eLearning or) is trending and gaining recognition as one of the top innovations in the education sector so far. The online learning platform, along with its limitations, is accepted worldwide and still more preferred by millions of students over traditional education systems. Various studies show that today, students are increasingly opting for online degree programs or take one college course at least through an online platform.

Similarly, the online education market has been attracting colossal traction and growth over the recent few years. The growing cost/fees of undergraduate courses and increasing student loan debt are some of the key driving forces behind the rise of the online education market.  The emergence of online learning platforms has helped offline institution as well, to expand their reach and capabilities.

Moreover, the increasing popularity of Online Education Marketis escalating the market on the global platform. According to Market Research Future (MRFR), the global online education market would reach a valuation of USD 423 BN. by 2023, posting a double-digit CAGR of 24 % throughout the review period (2017 – 2023). Certainly, numerous advantages that the platform offers attribute to the enormous popularity online education is gaining today. 

eLearning has opened vast opportunities for learners, revolutionizing contemporary learning process. In the future, online education is expected to be more adaptive than ever. Technological advancements have made the platform accessible across connected devices, including a computer, tablet, and even smartphones and enhanced the quality of education. The proliferation of smartphones and its users worldwide is predominantly driving the growth of the market.

Additionally, factors fostering the growth of the market include the spreading awareness among the public towards the benefits of online education, its devices, and interactive displays hardware used in active learning. Moreover, increasing numbers of mobile learning applications and technological expertise used in digital learning provide impetus to market growth.

Advancements transpired in the Telecom sector along with the growing usages of the internet, and many active users are propelling the growth of the online education market, allowing it to witness high growth rate throughout the assessment period. Increasing IT security and cloud-based solutions, alongside, the rapid digitization contributes to the growth of the market.

Additionally, factors such as favorable government policies and rising demand for technical education provide impetus to market growth. Conversely, consumer’s skepticism or unawareness that typecasts online education considering online training not as good enough due to the lack of valid certifications are hampering the growth in the online education market.

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Major Players:

The market is led by the players such as McGraw-Hill Education (US), K12 Inc. (US), Lynda.Com (US), Blackboard (US), Pearson Education (UK), Aptara (US), Edmodo (US), Docebo (Italy), PowerSchool Learning (US), Adobe Systems (US), and Tata Interactive Systems (India), among others.

Online Education Market Segmentations:

The report segments the market into four key dynamics for a better understanding;

  • By Product: Content, Services, and others.
  • By Learning Type: Synchronous Learning, Asynchronous Learning, and others.
  • By End-users: K-12 Education, Higher Education, Industry & Professional, and others.
  • By Regions:  Europe, Asia Pacific, North America, and Rest-of-the-World (RoW).

Online Education Market Geographical Analysis:

North America would continue its dominance over the global online education market throughout the assessment period. Large technological advancements and the proliferation of the internet and smart, connected, mobiles devices are some of the growth propellers of the regional market.

The Europe online education market stands second, globally. Heading with the growing markets in the UK, Germany, France, and Italy, the region is anticipated to demonstrate enormous growth prospects.

The APAC online education market is brisk and expected to create a substantial revenue pocket over the assessment period. The Asia Pacific region would witness significant growth throughout the review period. Also, the developing economy in the region is propelling the online education market, increasing the uptake of connected devices.

The proliferation of the internet and connectivity devices alongside, the rapid industrialization in India, China, Japan, Malaysia, South Korea, and Thailand, would provide impetus to the growth of the market.

Online Education Market Competitive Analysis:

Well-established, online education market appears to be competitive and fragmented due to the presence of several large and small players. To gain a competitive advantage, these players adopt strategies such as collaboration, acquisition, partnership, product launch, and expansion.

The emphasis on product innovation and new processes would intensify the competitive nature of the market. High growth prospects demonstrated by the market is also expected to fuel the market competition by attracting several new entrants.

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Industry/ Innovation/ Related News:

June 26, 2019 — Unacademy (India), an educational technology company announced the raising of USD 50 MN Series D funding round from Sequoia India, Steadview Capital, Nexus Venture Partners, and Blume Ventures. The online learning platform said it is seeing unprecedented growth and engagement from learners in smaller towns and cities.

By leveraging technology and high-quality educators, the firm aims to move closer to its mission of democratizing education at all levels. Recently, the firm had launched its Plus Subscription, which has resulted in increasing its subscription strength over 50,000 learners. Educators on Plus who teach from across the country, conduct over 600 live classes each day.

About Market Research Future:

At Market Research Future (MRFR), we enable our clients to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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