WASHINGTON, March 14, 2023 (GLOBE NEWSWIRE) — The Global Online Education Market is valued at USD 198.2 Billion in 2022. It is projected to reach USD 602 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 17.2% over the forecast period 2023-2030.
Global internet adoption is increasing, which will fuel industry growth. Access to affordable broadband options has risen because of the booming telecom and bandwidth industries. Numerous businesses are concentrating on providing specialized learning solutions to meet the expanding demand.
We forecast that the hardware category in the Online Education market/E-Learning market sales will account for more than 64% of total sales by 2028. The use of cutting-edge hardware computing tools like smartphones in the educational process has expanded due to the digitization of education. Tablets are anticipated to be the most widely used device in the education sector due to their improved interoperability with numerous software solutions like assessment tools, apps, and games.
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Increasing Use of VR and AR Applications to Create Lucrative Opportunities
The rising use of virtual reality and augmented reality in instruction is growing. The use of virtual reality equipment places students in unfamiliar environments while reducing danger, which promotes deep learning. Because augmented reality places training at the learner’s fingertips, it allows for just-in-time education. AR and VR technologies are increasingly used in education because they offer useful solutions. Complex operations and high-risk scenarios are handled with virtual reality. With VR and AR, learners may interact with the material. They adapt to specific requirements and help students create immersive learning environments. Since the sector is still young and has a wealth of untapped commercial potential, ed-tech start-ups using AR and VR are anticipated to draw investor interest.
Introduction of the IoT Industry to Drive the Market Growth
The transition from teacher-centered to student-centered education has been made easier by the Internet of Things (IoT). It transforms education by offering advantages like effective administration, tangible learning, engaging sessions, and trackable results. When used in conjunction with AI, IoT enables more effective energy use, better home security, and quicker data and multimedia streaming. These advancements in IoT have increased the demand for e-learning.
Top Players in the Global Online Education Market/E-Learning Market
- Lynda. com (US)
- Tata Interactive Systems (India)
- Mcgraw-hill Education (US)
- Blackboard Inc. (US)
- Aptara Inc. (US)
- Powerschool Group LLC (US)
- K12 Inc. (US)
- Udacity Inc. (US)
- Cisco Systems Inc. (US)
- Skills2learn Ltd. (UK)
- City & Guilds Group (UK)
- Citrix Education Inc. (US)
- Centerpoint Systems Inc. (US)
- Docebo (Canada)
- Adobe Systems Inc. (US)
- Articulate Global Inc. (US)
- Cornerstone on Demand Inc. (US)
- Learning Pool (UK)
- Microsoft Corporation (US)
- Sap Se (Germany)
- Adobe Systems Inc. (US)
- Saba Software (US)
- Oracle Corporation (US)
- KallidUS Ltd. (UK)
- Edmodo (US)
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Top Trends in Global Online Education Market/E-Learning Market
- One trend that Vantage Market Research (VMR) expects to see in the e-learning industry is the increasing demand for internet-enabled devices to support market expansion. By creating deep bonds and a future where learning is interactive, e-learning is revolutionizing the educational system. Schools are becoming more intelligent and connected thanks in large part to IoT. Both in primary and secondary schools, smart classrooms are transforming education. With new technologies becoming available, universities are becoming more technologically advanced.
- Another trend that VMR predicts will continue in the online education market/e-learning industry is its increased adoption of smartphones and the internet. There is a growing demand for easy interaction across electronic gadgets as smartphone and internet usage expand. Since they address several issues related to cost, scalability, security, and efficiency, growing cloud infrastructure and low data prices are driven by big volumes drive increased connectivity.
Top Report Findings
- Based on Component Types, the hardware category controls most of the Online Education market/E-Learning market’s revenue. Much of the market is anticipated to be occupied by laptops, an extensively utilized gear. However, because smartphones are being widely adopted worldwide, the mobile category is anticipated to increase faster during the projection period.
- Based on the Product Types, most content providers control most of the Online Education Market/E-Learning market’s revenue. As more professionals—including data analysts and other professionals—gain online accreditation and land jobs, the content provider market has exploded.
- Based on Learning, the patronization category controls most of the Online Education market/E-Learning market’s revenue. Online environments where work is assisted by technological tools like emails or threaded discussions are referred to as asynchronous learning environments. While conferencing requires users to be online and is more similar to a face-to-face educational setting, asynchronous learning does not require players to be available during online sessions. It involves immediate answers that enable improved clarity provision.
- Based on the End Users, most of the Online Education market/E-Learning market’s revenue is controlled by the K 12 category. The development prospects are huge with the introduction of internet penetration and the prevalence of after-hours coaching in several low-income countries. This makes online education the ideal substitute so students may still fit in with other obligations and issues from their daily lives.
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Recent Developments in the Global Online Education Market/E-Learning Market
- November 2021: Immersivecast announced they would launch the XR Metaverse Workspace. This product launch is a service environment expected to enable multi-dimensional Web 3.0 further to integrate NFT, AR, and VR processes. This will streamline the creation of content for many end users. This product unveiling is expected to create a first-ever 5G network slicing test with Deutsche Telekom, Samsung, and Ericsson.
- September 2021: Facebook Inc. said they would invest USD 50 million to engage with organizations to build a metaverse sustainably. Facebook announced they had invested significantly in an augmented reality environment wherein people can interact with various gadgets. The new XR programs and Research Fund is expected to spend internationally over two-plus years to ensure the Metaverse technology is being implemented inclusively.
Hardware Category in Online Education Market/E-Learning Market to Generate a Substantial Revenue
Based on the Device Types, the E-Learning Market is divided into Hardware and Software for better understanding.
During the forecast period, the market for Online Education Market/E-Learning is anticipated to experience the highest CAGR for the Hardware category. The inbuilt assessment instruments and the tailored services for students and teachers make up the appropriate learning mechanism. Such classroom assessment learning strategies have encouraged using cutting-edge computer devices in the education industry. To develop a large-scale online learning environment and maintain track of data about students’ learning behaviors, educational institutions must integrate all hardware devices with technology solutions.
On the other hand, the Software category is anticipated to grow significantly. The software includes various learning management system solutions that let businesses train and keep tabs on their staff, students, clients, and suppliers. These software programs include WorldClass, Courseplay, YuJa, and others.
North America Region in Online Education market/E-Learning market to Generate the major Revenue Globally
North America dominates the market throughout the projection period. A rising understanding of its advantages over conventional offline learning methods and enhanced technological infrastructure. A wide range of cutting-edge learning and training solutions drive the institutional segment’s desire for e-learning. The requirement for high levels of linguistic proficiency, functional and vocational knowledge, and soft skills is higher in technology-driven businesses. E-learning providers can increase their income thanks to the trend of purchasing online classes, virtual colleges, and memberships to e-learning which drives the market growth.
Rising mobile penetration and quickening urbanization are anticipated to impact the APAC e-learning market. These features raise the possibility that users may utilize these devices to access educational resources, expanding the potential user base that providers can focus on.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Online Education Market Forecast Report (2022-2028).
Global Online Education Market/E-Learning Market Segmentation
By Component Types
By Product Types
- Higher Education
- Industry & Professionals
- North America
- United States
- Rest of Europe
- Asia Pacific
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
|Market Size in 2022||USD 198.2 Billion|
|Revenue Forecast by 2030||USD 602 Billion|
|CAGR||17.2% from 2023 to 2030|
|Forecast Year||2023 to 2030|
|Key Players||Lynda. Com, Tata Interactive Systems, Mcgraw-hill Education, Blackboard Inc., Aptara Inc., Powerschool Group LLC, K12 Inc., Udacity Inc., Cisco Systems Inc., Skills2learn Ltd., City & Guilds Group, Citrix Education Inc., Centerpoint Systems Inc., Docebo, Adobe Systems Inc., Articulate Global Inc., Cornerstone on Demand Inc., Learning Pool, Microsoft Corporation, SAP SE, Adobe Systems Inc., Saba Software, Oracle Corporation, KallidUS Ltd., Edmodo|
|Customization Options||Customized purchase options are available to meet any research needs. Explore customized purchase options|
Key Questions Answered in the Report:
- What is the size of the e-learning market in terms of revenue, growth, and market share?
- What are the key trends, drivers, and challenges shaping the e-learning market, such as advances in technology, changing consumer behavior, and government policies?
- What are the major segments of the e-learning market, such as corporate training, academic learning, and personal development, and how do they compare in terms of size, growth, and demand?
- What are the key players in the e-learning market, such as edtech companies, universities, and training providers, and what are their market strategies and competitive advantages?
- What are the emerging opportunities and threats in the e-learning market, such as new technologies, disruptive business models, and changing user preferences?
- What are the regulatory and legal frameworks governing the e-learning market, such as copyright laws, data privacy, and accessibility standards?
- What are the best practices and success factors for e-learning providers to attract and retain customers, deliver high-quality content, and achieve profitability and sustainability?
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