Comprehensive Report on Global Online Education Market by Knowledge Sourcing Intelligence


INTRODUCTION
The global online education market is projected to witness a compound annual growth rate of 10.26% during the forecast period to reach a total market size of US$286.62 billion by 2023, increasing from US$159.52 billion in 2017. Increasing penetration of the internet in many regions across the globe is a major factor in driving market growth. The growing adoption of cloud-based solutions coupled with huge investments by major market players towards enhancing the security and reliability of cloud-based education platforms is further increasing the adoption of among the end-users. 

The presence of a large number of service and content providers in the market is bringing huge volumes of educational content online. Lowering prices of hosting and accessing educational content is further fueling the adoption of this technology among end-users, thus augmenting the market growth. Market Research is done by the knowledge sourcing industry due to the huge scope with the respective industry.

global online education market
Sample view of global online education market share

Global Online Education Market by Geography  

Geographically, the global online education market is segmented as North America, South America, Europe, Middle East and Africa (MEA), and Asia-Pacific (APAC). North America held the largest market share of the global online education market in 2017. However, APAC is projected to witness the fastest regional market growth during the forecast period owing to rising internet penetration coupled with the growing use of mobile devices in emerging economies such as China, India, Malaysia, and South Korea. In addition to the domestic universities providing online distance learning courses, many American universities are also entering this region by way of providing online education courses to students as well as the working population. According to Malaysia’s Ministry of Higher Education, 20 universities in the country launched 60 free Massive Open Online Courses (MOOCs), topics ranging from finance, healthcare, languages, and technologies, through the OpenLearning platform. Supportive government policies are also fueling the investment in online education platform development in the region, thereby positively impacting market growth. For instance, in early 2012, the Japanese government approved the Distance Education Universities Law under which 54 universities and 11 distance education junior colleges were authorized for offering E-Learning programs, which created a spike in online enrolments in the country.   

global online education market
Sample view of global online education market share

North America
North America online education market is projected to grow at a CAGR of XX% during the forecast period to reach a total market size of US$XX billion in 2023 from US$XX billion in 2017. The presence of major market players such as Cisco, Oracle and Microsoft coupled with early adoption of such technologies contribute to the dominance of the North American region in the global online education market. The high usage of smartphones and the focus of the academic sector to digitize the learning process in developed countries such as the U.S. and Canada is supporting North America's online education market growth. High investments by both the public and private sector to expand the awareness as well as the use of online education tools and services is also contributing to the high demand for online education solutions and services in the region. Universities in North American countries are increasing the number of online courses available for students owing to the ease of convenience it offers to learners. The total enrolment in online courses is outpacing the number of students who enroll for offline study programs, thus positively impacting the growth of the online education market in the region. According to the WCET (WICHE Cooperative of Educational Technologies) Distance Education Enrolment Report 2016, the number of students enrolling for at least one distance course in the U.S. rose from 1.6 million in 2002 to 5.8 million in 2014. Moreover, the availability of online training programs across the corporate sector in developed North American countries further bolsters the growth of the online education market in the region during the forecast period.      

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