Online Music Education Market Size Is Projected To Reach USD 421.9 Million by 2027 | CAGR: 18.4% | Astute Analytica

NEW DELHI, Dec. 16, 2021 /PRNewswire/ -- According to research study by Astute Analytica, the Global Online Music Education Market is estimated to grow at a CAGR of 18.4% during the forecast period of 2021-2027. The market size was US$ 130.74 million in the year 2020 and based on various market determinants the market is estimated to record a revenue of US$ 421.9 Mn by the end of the year 2027. In 2020, there were approximately 5.10 Mn users globally in the online music education market with highest number of users from North America.

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Learning or teaching music on online platforms is known as online music education. These online music lessons uses platforms such as authorized websites, apps, live video conferencing and others. The application of technology in the field of music education has progressed and aided majorly in the field of distance learning education.

Year-on-Year growth of the global online music education market is expected to be around 15% in the year 2020- a growth from 13.8% in 2019. The market witnessed a lucrative opportunities during COVID-19 pandemic with emerging IT companies and their integrated service offerings with the education sector. Schools are key organiser of online music education, hence the segment holds a market share of 39.8% in the recent times, closely followed by Music Academy/ studios with market value at US$ 48.4 million in the year 2020. Music studios/ academy segment is expected to register the highest CAGR of 20.1% during 2021-2027. Hence, increasing adoption of various online music learning by music studios/academy for better catering of students' demand will foster this market growth.

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Among four major instruments including Piano, Guitar, Banjo and Violin, Piano holds the highest market share of 38% of the global online music education market. This growth is majorly driven by increasing demand from students. The market valued for piano is around US$ 44.7 million in 2020 followed by Guitar at second. Guitar instrument type segment is projected to grow at the fastest CAGR of 19.0% during the forecast period due to its optimizable performance in various music forms like remix, pop and many more.

The Group session segment is estimated to have the highest market share during the forecast period. The group session type dominated the market with around 79.3% share in 2020, with market valued at US$ 103.7 million in 2020. Generally, schools and universities offer group sessions to capture huge number of students at a single time which will be easy for tutor to teach. However, Solo session is estimated to project highest CAGR of 19.9% mainly due to the fact that students prefer having sessions that are personalised for them.

Drivers and restraints: Digitalization of education industry has prompted the adoption of e-learning solutions which allows students to learn at their own pace. The increased digital content creation for the education sector, coupled with the high adoption of smart and connected devices has aided the growth of the online music education market worldwide. Also, increasing adoption of smart devices and rising internet penetration across the world has paved a way for integration of digital education among students. Digitalization of music education brings pre-existing and new privacy concerns. Audio-video-based online music classes through the Internet that merely defined authentication and confidentiality requirements for secure Internet communication increases the privacy issues. This is expected to pose a major threat to the growth and adoption of online music education industry during the forecast period.  Also, online education offering significant student engagement via online learning systems are more prone to cyber-attacks.

Opportunities and trends: Artificial Intelligence is in line to become the next big learning tool, making music education and creation easier with AI bots and AR-based technology. For instance, smart AI bots can compose their own albums, while other intelligent applications allow users to experiment with composition and production of music. Musical instrument learning assisted by augmented reality (AR) is also growing rapidly in the online music education market. AR-based education is still in its initial phase but the potential of AR has drawn the attention of educational researchers and practitioners, thereby augmenting the growth of the global market. Emerging trends in Massive Open Online Courses (MOOCs) assessments and their application in supporting student learning and achievement are gaining huge popularity in online music education. Various colleges like Berklee and Juilliard are also moving towards online music education enforcing MOOCs. Adoption of innovative marketing and positioning strategies by various companies is the most recent trend in the market.

Market Players and Recent Developments

The cumulative market share of the five major players is close to 44.4%, hence there is low competition in the market. Berklee College of Music, The Juilliard School, Lessonface, Moosiko, MusicGurus, AAFT School, VIP Peilian, Skoove, Lessonface.com, Point Blank, Tonara, Yousician, Coursera, Musitechnic, Udemy, TrueFire, and TakeLessons are some of the major players in the market.

Recent developments in the Global Online Music Education market:

• In May 2021, MusicGurus, UK-based company launch Song Studies with KT Tunstall. The course includes online video sharing the tips, tricks and offers two-hour learning including insights into the processes that make these songs standout musically and lyrically and many more.
• In April 2021, Yousician raised around US$ 28 million to more effective music education. With the online platform or app, company will provide an interactive, gamified approach to learning guitar, piano, ukulele, bass or singing along with a standard syllabus.
• In March 2021, TakeLessons Inc. launched a new subscription site for beginner, intermediate and skilled musicians. It offers virtual music and craft instruction, among other content by sign up for classes that they will take from their home.

Market Segmentation Overview

The market for online music education is segmented bases upon type, instrument type, session type, organiser type, learner type and region.

By Instrument Type

• Piano
• Guitar
• Banjo
• Violin
• Other

By Type

• Music History
• Musicology
• Theory
• Others

By Session Type

• Solo
• Group

By Organiser Type

• Schools
• Music studios/academy
• Professionals

By Learner Type

• Beginners
• Hobbyists
• Professional Musicians

By Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• The UK
• Germany
• France
• Spain
• Russia
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America

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