Global Online Education Market Insights Forecasts to 2030

• The global online education market was valued at USD 29.87 Billion in 2021.
• The market is growing at a CAGR of 23.12% from 2022 to 2030
• The global online education market is expected to reach USD 180.29 Billion by 2030
• Asia Pacific is expected to grow the fastest during the forecast period

The global online education market is expected to reach USD 180.29 Billion by 2030, at a CAGR of 23.12% during the forecast period 2022 to 2030. The online education market has grown due to the increasing demand for a convenient way to study from anywhere and anytime. Moreover, the market also witnessed growth during the COVID-19 pandemic when the education system completely shifted to online e-learning platforms.

Market Overview

Online education involves the virtual learning of courses offered online on various e-learning platforms. So many e-learning platforms are availing the data for various courses in the form of audio, videos, texts, images etc. The online education market is gaining so much attention in today’s world because with the help of e-learning platforms, students can read and learn anywhere, anytime. Moreover, students need not carry books everywhere because everything is available on e-learning platforms. The COVID-19 outbreak plays a key role in the overall development of the online education market. A sudden rise in covid-19 cases results in a complete shutdown across the world that affects educational institutes which encourages educators to shift to online education platforms. Despite the rapid spread of Coronavirus, the online education system surprisingly showed lucrative growth prospects. There are some factors which are affecting the growth of the market such as online platforms can’t offer practical knowledge, students becoming non-serious about their studies, students’ lack of discipline, lack of communication skills and increased screen time. It is estimated that the online education market will grow to USD 180.29 billion by 2030 at a CAGR of 23.12%. Due to booming Internet and smartphone penetration, there is an escalating demand for continuing education among working professionals and job-seekers. Government policies that support e-learning are also beneficial to the sector. As a technology-mediated learning approach, e-learning has been one of the pioneering research areas of educational technology in the last decades. Additionally, the market for online education will see more growth and success as the equations of the education system model are dynamically changing.

Report Coverage

This research report categorizes the market for global online education based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global online education market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global online education market sub-segments.

Market Dynamics:

Drivers:

• Growing penetration of internet

The growing penetration of the internet has made it easy for everyone to access e-learning platforms from anywhere anytime. After the COVID-19 pandemic, online education platforms gained more attention. Moreover, the growing trend for advanced smartphones are playing a key role in driving the online education market growth. With the help of mobile phones, an individual can  start learning at any point of time.

Restraints:

• Network related issues in the rural areas

Online education has witnessed  immense growth in recent years but there are some factors which are hampering the growth of the market. Factors like poor connectivity issues in the rural areas or less developed economies. Children in the rural areas are facing so many problems due to poor network coverage which is one the leading cause of slow growth of the online education market in the rural areas.

Opportunities:

•  Increasing demand for audio-visual customized content

It has been observed that audio-visual lectures are more effective among the children to make them understand about any concept in detail. In addition, audio-visual lectures help to keep the children connected with the ongoing lectures, especially the primary children. Online education platforms are developing engaging content for the students in order to make the students more attentive during the lectures, this is helping the online education market to grow more.

Challenges:

• Scarcity of cybersecurity measures

Rising cyber crime issues everyday is a major safety concern among the parents and students which is hampering the market growth. Moreover, online education platforms are providing quality education but they are not able to provide live classroom experience to the students as a result of which students are lacking so many skills which are necessary for them to exhibit such as lack of communication skills, fear of public speaking, discipline, punctuality etc.

Segmentation Analysis

• In 2021, the mobile segment accounted for the largest share of the market, with 30.6% and a market revenue of 82.58 billion.

Based on the technology, the online education market is categorized into virtual classes, learning management systems, mobile and others. In 2021, the mobile segment accounted for the largest share of the market, with 30.6% and a market revenue of 82.58 billion. The mobile segment is rising due to the increased demand for digital gadgets to attend online lectures anywhere, which ultimately leads to the growth of the online education market.

• In 2021, the academics segment accounted for the largest share of the market, with 25% and a market revenue of 1.31 billion.

Based on the end user, the online education market is categorized into government, academic (K-12 education, higher education and vocational training), corporate (SMBS and large enterprises) and individual. In 2021, the academics segment accounted for the largest share of the market, with 25% and a market revenue of 1.31 billion. With a significant market share in online education, offering synchronous and asynchronous delivery methods, online discussion boards, chat rooms, and video conferencing the academics segment will boost the growth of the online education market.

Regional Segment Analysis of the Online Education Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific emerged as the largest market for the global online education market, with a market share of around 36.40% and 269.87 billion of market revenue in 2021.

• In 2021, North America emerged as the largest market for the global online education market, with a market share of around 36.40% and 269.87 billion of the market revenue. North America is expected to be the largest market. The rise in online education enrolments in the region propels the growth of the online education market.

• Asia Pacific market is expected to grow at the fastest CAGR between 2021 and 2030. The increased use of mobiles and access to the internet boosted the growth of the online education market in the region during the forecast period.

Competitive Landscape

The report offers the appropriate analysis of the key organizations/companies involved within the global online education market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Market Players:

• Skills2learn Limited
• Tata Interactive Systems
• Byjus
• Coursera
• Cornerstone OnDemand Inc.
• City and Guilds Group
• Docebo
• Aptara Inc.
• Mcgraw-hill education
• K12 Inc.
• Citrix Education Inc.
• Microsoft Corporation
• Oracle Corporation
• Learning Pool
• Edmodo
• Sap Se
• Lynda.com
• Blackboard Inc.
• Udemy Inc.
• edX Inc.
• 2U Inc.
• Linkedin Corp.
• Pearson Plc
• Ambow Education Holding Limited

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Third-party knowledge providers
• Value-Added Resellers (VARs)

Some of the Key Developments:

• In July 2021, to expand its new and innovative education solutions, Byjus acquired Epic U.S.-based kid's learning platform.

• In October 2021, Blackboard and Anthology collaborated to provide a data-driven, personalized learning experience at every stage of the learner's journey across the global education community.

Market Segment

This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global online education market based on the below-mentioned segments:

Global Online Education Market, By Technology

• Virtual Class
• Learning Management System
• Mobile
• Others

Global Online Education Market, By End User

• Government
• Academic

• K-12 Education
• Higher Education
• Vocational Training

• Corporate

• SMBS
• Large Enterprises

• Individual

Global Online Education Market, Regional Analysis

• North America
  • THE US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• The Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa