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The global online education market is projected to witness a CAGR of 9. Increasing penetration of internet in many regions across the globe is a major factor driving the market growth.
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 its adoption among the end-users.
Presence of a large number of service and content providers in the market is bringing huge volumes of educational content online.
Declining lessons of internet earnings cost and growing need for accessing educational content is further fueling the adoption of this technology, thus augmenting the market growth.
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Advancements in the field of artificial intelligence and rapid growth of Internet of Things IoT will continue to enhance the user experience on these option curves education platforms, which is anticipated to spur the market growth throughout the forecast period.
Academic institutions hold a significant market share. Increased effectiveness of animated learning along with flexibility in learning are some other factors contributing to the growth of online education by academic institutions.
Lack of competent staff in various binary options lesson and colleges across the developing nations is also resulting in the adoption of online education by the students.
Support and funds from the governments is another major driver for the growth of the industry. By type, the global online education market is segmented as online education by academic institutions and by corporate sector.
With the increasing number of students in academic institutions and regular need to up skill and provide industry relevant training to the staff, the academic institutions as well as corporate need to come up with the options that allow individuals to learn anytime from anywhere. With the increasing number of the students and the cost effectiveness of online education many educational institutes are integrating face-to-face learning with online learning at all levels of education.
For instance, Berkeley University of California recently partnered with edX to offer Data 8 course online for no cost which was earlier limited to the few who got admissions in the institute. Colleges and universities across the globe are frequently providing new MOOCs as well as distance learning courses.
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An upsurge in tuition fees and high interest on education loans in both developed and developing countries has raised the cost of getting campus education which is continuously shifting the trend towards online learning solutions, thus, positively impacting the demand for LMS across this universities and colleges.
In Julylessons of internet earnings George Washington University launched Talent GW--Learning, a new LMS that allows users to register for in-person training, access to online training, and professional development materials such as videos and guides in one place.
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North America is estimated to provide highest revenue generation opportunities. North America held the largest market share of global online education market in However, APAC is projected to witness the fastest regional market growth during the forecast period owing to rising internet penetration coupled with 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 working population.
Supportive government policies are also fueling the investment in online education platform development in the region, thereby positively impacting the market growth. The presence of major market players such as Cisco, Oracle, and Microsoft coupled with early adoption of such technologies contributes to the dominance of North American region in global online education market.
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High usage of smartphones and focus of academic sector to digitize learning process in developed countries such as the U.
High tuition fee is also encouraging students to opt for online courses which are cheaper than offline regular college courses.
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