The online education market is expected to exceed the value of US $ 729.1 billion by 2031, with a CAGR of 12.3% during the forecast period.
ALBANY, NY, United States, December 23, 2021 /EINPresswire.com/ – Research on the transparency market provides key information on the online education market. In terms of revenue, the global online education market is expected to grow at a CAGR of 12.3% during the forecast period, due to many factors, about which TMR offers in-depth information and forecast in its report on the global online education market.
Online education is a broad concept for education. It represents how advanced technologies help learners to acquire information and skills more easily, efficiently and more easily. Online education is becoming popular due to the penetration of digital technologies in the education sector, which has increased the interest of many researchers. The goal of smart education is to empower 21st century intelligent learners to meet the needs of work and life. Many people prefer to take online training because of its easy accessibility and learning flexibility.
The increasing integration of smart solutions and the penetration of social media platforms in the education sector is a major factor driving the online education market. Online education offers the best path for primary and higher education because it guarantees the best future. A number of higher education institutions are already reaching out to more learners using non-traditional approaches; this trend will increase in the years to come.
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Online education market: dynamic
The increasing adoption of various technologies such as cloud computing and Artificial intelligence, as well as Internet penetration in the education sector is stimulating the demand for online education. However, the online education market is facing challenges due to the uncertainty of education policies in countries. Slow internet connection and poor connectivity in rural areas negatively impact the growth of the market. It has been observed that intelligent learning is only accessible on smartphones or computers. Thus, students living in rural areas face challenges to take advantage of online education.
However, the online education market offers a range of benefits to learners, including improved teaching or learning experiences, accessibility of learning, access to data and online tools, and the viability of the use and exchange of knowledge that can stimulate market growth. in the years to come. Increased investment in distance learning platforms to provide significant learning opportunities for students is estimated to boost the online education market during the forecast period.
Online education market: important regions
The North America online education market is expected to account for the largest share during the forecast period owing to the increasing digitization of the education industry and the presence of major market players in the region. In addition, the US government has increased its investment in the education sector, which is fueling the growth of the online education market.
The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period owing to the adoption of smartphones in developing economies, which has increased the number of students enrolled on the platforms. online learning. This factor will further boost the growth of the online education market in the region. The European market is expected to increase at a notable CAGR during the forecast period, owing to the growing government support for the transformation of traditional apprenticeship to advance apprenticeship in the region leading to the growth of the market of online education.
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Online education market: key players
The major players operating in the global online education market are Adobe Corporation, Aptara Inc., Blackboard Inc., Docebo, Edmodo, Edukasyon.ph, EduComp Solutions, Excelsoft Technologies Pvt Ltd., Zeus Systems Pvt. Ltd, Simplilearn Solutions, BYJU’S, McGraw-Hill Education, Pearson PLC, MPS Interactive Systems Limited and Edx Inc.
Growing Mobile and Social Media Adoption Globally: A Key Driver of the Online Education Market
In most countries of the world, cell phone or smartphone ownership tends to vary based on demographics, including gender, education level and age. Almost everyone on the planet is addicted to video games, laptops, smartphones and social media, and yet they know next to nothing about them. Basic programming skills would help identify and interact with technology, which most everyone takes for granted. This is a key factor that is expected to fuel the online education market during the forecast period.
According to the GSMA, mobile technologies and services generated US $ 4.1 billion in economic added value (4.7% of global GDP) in 2019. This figure is expected to reach US $ 5,000 billion (4.9% of global GDP). GDP) by 2024, countries benefiting from increased efficiency and productivity through increasing use of mobile services. Going forward, 5G technologies are expected to bring US $ 2.2 trillion to the global economy.
Smartphones support online or offline learning. Offline access allows smartphone users to save any type of learning material such as PowerPoint, PDF, Word, images, Excel, animations and symbols regardless of geographic location. Internet access is required for students and teachers to visit websites to meet their information needs. Smartphones have thus changed the dynamics of student learning activities.
Online education can be an innovative business. Students can learn and develop new skills and new subjects. Online education is the way to improve children’s creativity. Currently, children are growing up with digital gadgets such as computers, digital toys, smartphones and many more.
The rapid increase in the use of digital devices and the internet with increasing levels of education highlights the fact that education plays an important role in the introduction of digital technologies
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