How Big Is the Online Education Market?
A new report examines the size of the global online education market. It also analyzes the e-learning markets in North America, South America, and Europe. The report lists some of the key players in these regions. Coursera, Instructure, Adobe, and Alphabet are among the major players. Coursera, for example, focuses on creating innovative learning solutions for teachers and students. Byju, meanwhile, is investing in strategic partnerships and acquisitions. Recently, the company acquired the U.S.-based kids learning platform Epic in a stock and cash deal.
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Global online k12 education market
The Global online k12 education market is split into two segments, namely solutions and services. The solution segment includes disruptive technologies such as cloud computing and big data analysis. These technologies are expected to hold a large share during the forecast period. Big data solutions are used by e-learning professionals to analyze which learning modules are being viewed the most. These solutions are also affordable and provide more personalized learning experiences.
The global online K12 education market is expected to surpass US$ 7984 million by the end of 2028, at a CAGR of 8.3%. There are several leading players operating in this market. Some of them include K12 Inc., Pearson, and White Hat Management. Others include Languagenut, Bettermarks, and XUEDA.
North American e-learning market
The North American e-learning market will reach USD 120 billion by 2028 and is projected to grow steadily. The market will benefit from the recent passage of the Bipartisan Infrastructure Law, also known as the Infrastructure Investment and Jobs Act, which allocates USD 65 billion for high-speed internet across the U.S. This will boost the market for cloud-based e-learning.
The e-learning market in North America is also being driven by technological developments. High internet connectivity will make it easier for students and learners to interact and provide feedback in real time. Meanwhile, the growth of 5G technology will help improve the quality of interactive e-learning sessions.
South American e-learning market
The South American e-learning market is expected to grow at a CAGR of 4% during the forecast period. The growing use of mobile platforms will also boost the region’s e-learning market share. These platforms will provide students with access to peer-to-peer challenges, flashcards, and other features that enhance the learning experience. The increasing penetration of smartphones will also drive the growth of text-based and audio-based applications. Mobile applications also provide content creators the ability to create bite-size lessons and deploy learning modules in different locations.
Several prominent vendors are targeting the South American e-learning market. They include Instructure, D2L, edX, English Attack, Estancia, Litmos, Open English, Veduca, Skillsoft, and Aptara.
Europe e-learning market
The Europe e-learning market is growing at a healthy pace. It is projected to reach USD 40.5 billion by 2030, at a compound annual growth rate of 15.2%. The growth is largely driven by increased e-learning adoption among educational institutions and corporates. The region is also seeing a rise in online courses and digital universities.
There are various barriers to the growth of the Europe e-learning market. For instance, stock market volatility, travel bans, and quarantines can hurt this market. This report provides insight into various segments of the market, including products, services, and materials.