Online Education Market Size, Share, Growth, and Industry Growth by Type (Elementary Education (Grades 1-5), Junior High Education (Grades 6-8), Senior High Education (Grades 9-12)), By Application (Teacher, Students, and Parents) Regional Forecast To 2028

Updated On: 13 March 2023

REPORT OVERVIEW

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The global online education market size was USD 1,40,710 million in 2021 and the market is projected to touch USD 2,45,900 million by 2028, with a growing compound annual growth rate (CAGR) of 8.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with online education experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Online education is the method of learning platform through electronic mode. Online courses are appreciating foremost fame since the pandemic has hit the lives of the common man. An easy practice reduced over these courses supported by technical improvements has brilliant prospects in the coming years for the global market. Moreover, it offers numerous profits to the students, which include low cost of teaching and specific course learning. It has converted an essential part of the mainstream of organization as it improves the performance of workers.

COVID-19 Impact: Growing Number of Coronavirus Cases to Motivate Market Growth 

The COVID-19 pandemic has had a severe negative impact on society and the economy. Numerous organizations’ supply chains and value chains have been impacted by the epidemic. The online education market has stayed one of those markets that have experienced progressive evolution ever since the appearance of the pandemic. Ever since the pandemic and the enormous program amount, schools, colleges, and other educational institutions have been closed for physical lessons. Since then, online education courses have been undergoing great demand and footfall. Hence, the market players are adding to the accessibility of structures that assure an improved user involvement and suitability while taking online programs. 

LATEST TRENDS

"Technological Advancements to Foster Market Growth"

The rising internet saturation has blasted as technology and infrastructure have established globally, consenting people and productions to stretch new elevations. The teaching industry has enlarged other segments in the digital disturbance by proposing distance learning courses to all ages. Several scholars use online teaching tools to achieve their learning desires without leaving their families, offices, or cities, which are cost-effective and a great online device backing the growth of the online education market.

SEGMENTATION

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• By Type

Based on type, the market is divided into Elementary Education (Grades 1-5), Junior High Education (Grades 6-8), Senior High Education (Grades 9-12).

• By Application

Based on the application, the market is divided into Teacher, Students, and Parents. 

DRIVING FACTORS

"Funding Solutions to Accelerate Market Performance "

The increasing compensations of online education are anticipated to inspire the market growth certainly in the coming years. Retailers are proposing audio-visual modified content and simulation learning stages as per the school's syllabus. Moreover, the accessibility of several funding solutions, such as learning management solution (LMS) and enterprise resource planning (ERP), and amplified reality (AR), virtual reality (VR), combined education solutions, and student valuation software, will also play a foremost role in improving the demand for online teaching by several schools and universities. In addition, the rising acceptance of teaching apps is one of the key inclinations backing the online education market growth.

"Increasing Adoption of AI to Stimulate Market Expansion   "

The rise in smartphone consumers is expected to propel the online education market in the coming years. Increasing registration of beginners in online education platforms has elevated demand for smart learning education solutions and facilities. Moreover, an upsurge in the number of colleges and universities across the developing markets has further compressed the demand for smart learning & education, thus driving the online education market. Dispersion of artificial intelligence (AI) and virtual reality (VR) in the education sector is projected to enhance the online education market in the coming years. Online education provides virtual lecture halls that aid learners to join classes efficiently and continue synchronized remotely. Global advantages on a large scale to influence tools is supporting the online education market.

RESTRAINING FACTORS

"Lack of Internet Connection Will Limit Market Growth"

In India, high-speed internet connection is either not accessible in numerous places or is too costly, interpreting the hint of cost-effective online teaching as unfeasible. Amenities such as optical fiber transmission and internet service suppliers are not accessible in less advanced states or isolated cities.

REGIONAL INSIGHTS

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"Presence of Prominent Players in North America to Motivate Growth"

North America is anticipated to account for major online education market share. This is owing to growing funds in the IT infrastructure and presence of prominent players for the robust cloud computing industry will boost the cloud-based e-learning demand.

For example, in November 2021, the U.S. government approved the Bipartisan Infrastructure Law, an Infrastructure Venture & Jobs Act. Under this act, experts have allotted approximately USD 65 billion to guarantee that the American people have access to consistent high-speed internet.

Asia pacific is anticipated to have a sizable market share. The growing use of the internet combined with the increasing adoption of smartphones are the aspects that will be accountable for the progress of the market in the region. The evolution of this region will be directed by its prominent markets such as India, China, and Japan owing to the existence of a huge number of educational organizations in these countries.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• K12 Inc (U.S.)
• Pearson (U.K.)
• White Hat Management (U.S.)
• Georg Von Holtzbrinck GmbH & Co. K (Germany)
• Bettermarks (Germany)
• Scoyo (China)
• Languagenut (U.K.)
• Beness Holding, Inc. (Japan)
• New Oriental Education & Technology (China)
• XUEDA (China)
• AMBO (U.S.)
• XRS (U.S.)
• CDEL (India)
• Ifdoo (India)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.