Online Education Market Overview Analysis and Forecasts: Universities Offer Fully Online Degrees which is Set to Reshape the Education Industry

In a recent published report, Kenneth Research has updated the Market report for Online Education Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Online Education Market Products.

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Online education or e-learning refers to a learning system based primarily on formalised teaching with the help of electronic resources such as computers and internet services. Improvement in internet connectivity and digitization are facilitating the growth of the online education market in India. This type of education is delivered in various ways, which include online courses, massive open online courses (MOOCs), hybrid or blended courses and certification courses among others.

According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.

Corporate tie-ups help in the co-creation of industry certified content, which has helped to increase the acceptance of online education among the target user base. Currently, students and professionals (especially IT) are the chief patrons taking up various online education courses. Improved internet connectivity and digital payment options, coupled with the introduction of new learning methodologies such as blended learning and flipped learning is driving the growth of the online education market in India.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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Market segmentation

The online education market in India is segmented by category into primary and secondary supplemental education, test preparation, reskilling and online certifications, higher education, and language and casual learning. Test preparation market is expected to be the largest growing segment due to the increase in the number of students opting for competitive exams such as engineering medical exams, and also due to rise in the number of exams for working professionals such as bank probationary officer (PO), union public service commission (UPSC), common admission test (CAT) and graduate management admission test (GMAT) among others. It is segmented by type into vocational education, learning management system (LMS) and virtual schools.

Key growth factors

o Lower infrastructure cost coupled with larger student base leverages economies of scale and lower cost. Online skill enhancement courses are far cheaper than offline alternatives, due to the availability of several free courses. (MOOCs) provide free online courses to different universities, such as Harvard University, Berkeley University of California, Boston University and so on, on key subjects such as computer science, data science, business and management, which are available for anyone to enrol themselves
o Increase in disposable income is egging the young population to enhance their skills for higher growth. The young population with high aspirations but lower income is a good target market for online education. Further, the acceptability of online channels is also higher in the younger demographic

Threats and key players

o Familiarity with offline education system poses a major barrier for online education. Online education is still considered a second class citizen in the education system, and thus, its recognition is limited to institutions of service. Limited availability of internet in remote locations act as a barrier to growth
o The Birla Institute of Technology and Science (BITS), Pilani, Think & Learn Private Limited, Symbiosis Centre for Distance Learning, Tamil Virtual Academy, Medvarsity Online Limited, Vedantu Innovations Private Limited, AEON Learning Private Limited, are some of the major players operating in the online education market in India

What is covered in the report?

1. Overview of the online education market
2. Historical, current and forecasted market size data for the online education market (2016 to 2023)
3. Qualitative analysis of the online education market and its segments, by category (primary and secondary supplemental education, test preparation, reskilling and online certifications, higher education and language and casual learning) and by type (vocational education, learning management system, virtual schools)
4. Qualitative analysis of the major drivers and challenges affecting the market
5. Analysis of the competitive landscape and profiles of major players operating in the market
6. Key recent developments associated with the online education market in India

Why buy?

1. Get a broad understanding of the online education market in India, the dynamics of the market and current state of the sector
2. Strategize marketing, market entry, market expansion and other business plans by understanding the factors driving growth in the market
3. Be informed regarding the key developments in the online education market in India
4. Understand major competitors’ business strategies and market dynamics and respond accordingly to benefit from the market

Customizations Available

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  •  Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

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