Revolutionary Growth Projected for Online Education Market Expanding to USD 475 Billion by 2030 with a Striking CAGR of 9.1% Unveiled in Technology Industry Report by Facts and Factors

NEW YORK, July 13, 2023 /PRNewswire/ -- As per Facts and Factors study, the global Online Education market size was worth around USD 217 billion in 2022 and is predicted to grow to around USD 475 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 9.1% between 2023 and 2030.

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Online Education Market: Overview

Massive demand for online education has resulted from the escalating competition among online degree providers and the substantial proportion of education sector investments. The increasing need to enhance the quality of education and experience has increased the demand for online education. The proliferation of online education enterprises has disrupted the market and increased venture capital funding. For the record, the amount of venture capital allocated to the edtech industry in the United States increased from $1.1 billion to nearly $8.1 billion.

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Key Industry Insights & Findings of the Online Education Market Reports:

• As per the analysis, the Online Education market share is likely to grow above a CAGR of around 9.1% between 2023 and 2030.
• The Online Education market size was worth around USD 217 billion in 2022 and is estimated to hit approximately USD 475 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• The global online education market is anticipated to record massive growth over the forecast period owing to the large-scale application of AI for e-learning in the education sector.
• In terms of type, the academic segment is slated to register the fastest CAGR over the forecast period.
• Based on technology, the mobile e-learning segment is slated to dominate the segmental surge over the forecast period.
• On the basis of end-user, the K-12 schools' segment is slated to dominate the segmental surge over the forecast period.
• Region-wise, the Asia-Pacific online education market is projected to register the highest CAGR during the assessment period.

Facts and Factors published the latest report titled "Online Education Market Size, Share, Growth Analysis Report By Type (Academic and Corporate), By Technology (Mobile E-learning, Rapid E-learning, and Podcasts), By Vendor (Service Provider and Content Provider), By End-User (Higher Education Institutions and K-12 Schools), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030" into their research database.

Online Education Market: Growth Factors

• Growing popularity of cloud-based technologies will drive the expansion of global market

It is anticipated that the introduction of cloud-based tools and an increase in online interaction for resolving questions will drive the global growth of the online education market. The widespread implementation of cutting-edge hardware computing systems, such as smartphones, in educational activities will expand the market's growth potential.

Global market growth will be stimulated by the widespread implementation of AI for e-learning in the education industry. Aside from this, online education providers are uniquely positioned to develop B2B alliances with companies whose primary objective is to upskill their employees and recruit new talent. The action is anticipated to stimulate global market trends.

In addition, the trend toward providing unique learning experiences will drive the expansion of the global online education market. The increasing digitization of education and demand for tablets will increase the scale of the global market. 

Online Education Market: Restraints

• Less web access can hinder the expansion of the global market

Income limitations and restricted Internet access can hinder the global online education market. Children's increasing reliance on smartphones, iPads, and laptops will further slow the global economy.

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Global Online Education Market: Segmentation Analysis

The global online education market is segmented by type, technology, vendor, end-user, and region.   

The global market for online education is segmented by type into academic and corporate segments. In addition, the academic segment, which accounted for over 52% of the global market share in 2022, is anticipated to exhibit the highest CAGR during the forecast period. In academic institutions such as schools, universities, and coaching institutes, there has been a rise in demand for online lecture delivery, which has contributed to segment growth in the coming years.

Globally, the online education industry is segmented by technology into rapid e-learning, mobile e-learning, and podcasts. In addition, the mobile e-learning segment, which held a significant share of the global market in 2022, is projected to lead the segmental expansion in the coming years. The predicted segment growth can be attributed to the widespread use of mobile e-learning technology in online education activities.

The global online education market is segmented by end-user into higher education institutions and K-12 schools. In addition, the K-12 schools' segment, which held a significant share of the global market in 2022, is projected to lead the segmental expansion in the coming years. The predicted segment growth can be attributed to the substantial demand for online modes of education in K-12 institutions.

The global online education industry is divided into service providers and content providers based on the vendor.

Recent Developments:

• In the first half of 2022, Credly, Inc., a key software firm, recently declared its acquisition of Pearson plc, a key UK-based education & book publishing firm. The move is likely to expand the latter's assessment abilities, learning capabilities, and workforce analysis. Furthermore, it will help in expanding the former's global presence.

• In the second quarter of 2022, Class Technologies Inc., a key player in the digital learning sector, and Anthology, a key provider of ed-tech solutions, signed a deal as per which the former will acquire the latter's virtual classroom. The move is likely to boost the growth of the online education industry across the globe.  

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Competitive Players

The report contains qualitative and quantitative research on the global Online Education Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.

Some of the main players in the global Online Education market include;

• Saba Software
• Microsoft Corporation
• Lynda.Com
• KallidUS Ltd.
• Cornerstone on Demand Inc.
• Docebo
• Citrix Education Inc.
• Tata Interactive Systems
• Adobe Systems Inc.
• Blackboard Inc.
• Aptara Inc.
• Mcgraw-Hill Education
• K12 Inc.
• Powerschool Group LLC
• Cisco Systems Inc.
• Skills2learn Ltd.
• Oracle Corporation
• City & Guilds Group
• Centerpoint Systems Inc.
• Adobe Systems Inc.
• Articulate Global Inc.
• Learning Pool
• Sap SE
• Edmodo

Key questions answered in this report:

• What is the growth rate forecast and market size for Online Education Market?
• What are the key driving factors propelling the Online Education Market forward?
• What are the most important companies in the Online Education Market Industry?
• What segments does the Online Education Market cover?
• How can I receive a free copy of the Online Education Market sample report and company profiles?

Report Scope:

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Regional Analysis:

Over the forecast period, the North American Online Education market will establish a dominant position.

North America, which accounted for more than 60 percent of the global online education market's revenue in 2022, is projected to experience significant growth over the coming years. The expansion of the regional market between 2023 and 2030 may be subject to an increase in demand for bring your own device. In addition, the regional market expansion will be driven by the presence of key competitors such as Microsoft Corporation, Cisco Systems, Inc., and Oracle Corporation.

In addition, the Asia-Pacific region is anticipated to have the maximum CAGR over the assessment period for the online education market. A rise in the use of the internet and the demand for smartphones in countries such as India and China are factors that are likely to influence the expansion of the regional industry. Regional industry trends will be determined by the vast prevalence of educational institutions in the region.

Global Online Education Market is segmented as follows:

By Type Segment Analysis

• Academic
• Corporate

By Technology Segment Analysis

• Mobile E-learning

• Rapid E-learning
• Podcasts

By Vendor Segment Analysis

• Service Provider
• Content Provider

By End-User Segment Analysis

• Higher Education Institutions
• K-12 Schools

By Region

• North America
• The U.S.
• Canada
• Europe
• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Southeast Asia
• Rest of Southeast Asia
• The Middle East & Africa
• GCC
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

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