PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627799
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627799
The Global online education market is predicted to expand at a CAGR of 7.75% to account for US$564.785 billion by 2030 from US$388.804 billion in 2025.
Online education is a computer-assisted virtual learning environment that uses the internet to allow teachers and students to share educational resources. Reducing the expense of education has garnered significant attention, bolstered by numerous global government initiatives encouraging online learning, mobile phone use, and expanded access to e-learning, contributing to the online market's ongoing growth. Furthermore, rising interest in flexible and adaptive learning and the release of AI-enabled e-learning solutions are anticipated to drive market expansion.
Further, the range of options available to educational institutions is also growing due to the trend towards cloud-based arrangements and the growing speculation by major market players to improve the security and stability of cloud-based education platforms. Moreover, due to the many service and content providers in the market, vast amounts of educational content are available online. For instance, according to Eurostat, 30% of EU users aged 16 to 74 accessed an online course or other kinds of e-learning material in the preceding three months in 2023 and that is a 2% rise from the previous year (2022) when it was 28%.
Further, Artificial Intelligence (AI) and Machine Learning (ML) popularity has been rising because they can provide coherent approaches and tailor content according to individual students' prior knowledge. Moreover, AI and ML are featured highly in the e-learning system in their capacity to rapidly analyze huge amounts of data to develop patterns and trends that would aid better learning experiences. Additionally, it increases the simplicity, speed, and agility of course creation without sacrificing quality.
Global online education market drivers
E-learning resources are self-contained and can be accessed by students at any time, regardless of whether they are in actual class or not. Resources for e-learning are self-contained and may be available to students at any time without their physical presence in the classroom. Additionally, students can download and store their course materials for later use using this system. Study materials can be updated more frequently by e-learning platforms than by traditional classroom-based learning systems. Study materials can be accessed and reused for longer periods once they are in the system, and they can be updated without replacing the entire set. E-learning is a practical learning method for a lot of students. Additionally, students can skip over study materials they already understand.
By enabling anyone to access study materials from anywhere in the world, e-learning technologies help to create a global learning society. With the systems that are now available, students can add to the study materials, keeping the contents current. So, with an increase in the request for adaptive learning, it is expected that there could be many prospects waiting for the firms dealing in online training. Internet users are estimated to surpass 5.3 billion in 2022, according to the International Telecommunication Union.
As a result, mobile phones are now regarded as standard equipment for accessing educational content in all countries. This flexibility will appeal to people looking for opportunities to learn for the rest of their lives, college students, and busy professionals. Furthermore, the fact that mobile e-learning platforms usually offer interactive features and customized learning experiences contributes to their increasing popularity.
Global online education market Geographical outlooks
The Online education has become more prevalent in the country as a large number of institutions are accelerating their incorporation through online platforms as a convenient delivery of education. Online education allows greater reach for institutions beyond geographical limitations, both in the US across states and internationally, and to remain relevant and compete in this changing environment, many universities and colleges are adopting marketing strategies and techniques to cater to the growing demand.
In addition, online education is considered the best option for non-traditional student populations like working adults who require flexibility and avoid wasting time on transportation. Besides, the government is also recognizing the benefits of online education and is also promoting the use of communication technology in education by investments to enable new ways of learning for people. Such public-private partnerships are expected to drive the market growth in the coming years. For instance- in 2024, the U.S. Department of Education (ED) proposed changes in its distance learning guidelines in order to get more consistent data insights on how remote learning programs are helping students.
Furthermore, several universities in the country have started to give students the choice to either enroll in the traditional on-campus course or sign up for a parallel version of the class through MOOC. This further reflects the potential for the online education market growth in the country over the course of the next few years. Moreover, as per the estimates from Reach Capital, in the United States, the investment capital raised by ed-tech companies reached around US$5.2 billion in 2022. This represents investment across all levels, including early childhood, K-12 or higher, among others, thereby reflecting lucrative opportunities for online education.
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