PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627834
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627834
The online music education market is expected to grow at a compound annual growth rate (CAGR) of 17.52%, from US$2,187.26 million in 2025 to US$4,902.335 million in 2030.
As per the Eurostat, in January 2024, the percentage of people that are pursuing an online course or using online learning material in the European Union, typically having an age group from 16 to 74 years, is presenting a constant rise from 28% in 2022 to 30% in 2023. With the rapid rise in utilization of online learning material and acceptance of online education, there will be an increase in the online music education industry among diverse age groups contributing to market expansion in the years ahead.
Moreover, technological developments, convenience, affordability, and accessibility are a few of the reasons that are further fueling the market expansion. In addition to these factors, the industry has grown as a result of the accessibility of high-speed internet, the widespread use of digital devices, and the rising need for personalized learning. To remain competitive in the market, firms that provide online music instruction, such MusicGurus, Skoove, Yousician, and Tonara, have implemented a variety of business tactics, such as product innovation, collaborations, and acquisitions.
Additionally, there has been a noticeable increase in the use of smart and connected gadgets in education. To enable music lovers to acquire the necessary information at home, many organizations began providing workshops for free. For instance, in November 2022, Amazon and Yousician partnered to create the ultimate bundle for beginner musicians. Amazon customers who purchase a qualifying musical instrument in Amazon stores, received 30-days free access to Yousician Premium+. Yousician offers thousands of interactive lessons for guitar, bass, piano, ukulele, and singing, allowing users to learn from hundreds of artists across various musical genres. This gamified approach to music education sets a new standard.
Online music education market drivers
The expansion of digital technology and increasing internet penetration have dramatically changed the way people learn and enjoy music today. Different applications and websites meant for music learning contain different learning materials that include information and illustration materials, further contributing to the market growth during the forecast period.
Additionally, with the enormous flexibility of digital music formats and the huge amount of available information, people have easy access to music education anywhere and anytime. Recent developments in portable devices such as smartphones and tablets, with rising internet penetration even in remote areas, have resulted in higher processing power, more powerful audio-processing features, and visuals that are more appealing, resulting in tremendous growth in online music education applications developed for these devices.
According to the International Telecommunication Union (ITU), individuals using the internet have seen a significant increment in all the regions around the world, with the world percentage increasing from 62.2% in 2021 to 67.4% in 2023. Moreover, the number of cost-effective applications that can be accessed through these devices at a click and the viability of such devices with increased accessibility for learning and practicing music has boosted the market growth for online music education during the given forecast period.
Moreover, the potential for online music instruction is limitless as technology advances as well as several well-known music schools, like Berklee and Juilliard, are slowly moving towards online music education and integrating MOOCs. For instance, In April 2022, Berklee professor Benny Grotto developed a personal recording toolkit for students to produce professional-quality music remotely. The MP&E Department has launched an independent recording and production major, requiring a computer, software, audio interface, microphones, and headphones.
Players in the business are expanding their online services as they become aware of the potential of online music education. In April 2024, BIMM launched BIMM Pro, a comprehensive online music education program in collaboration with multi-platinum producer Warren Huart. The program offers courses in vocal production, drum and percussion production, instrument production, synthesis, programming, and sampling.
Reasons for buying this report:-
What do businesses use our reports for?
Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence