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Massive Open Online Courses Market size Is Projected to Garner Significant Revenues By 2031 -End

Kenneth Research released a report on Massive Open Online Courses Market that consists detailed analysis and industry insights for the forecast period, i.e.  2022-2031. On the basis of analysis of the market value and calculation of the CAGR during the forecast period, the latest trends and business opportunities in the market are discussed in the report.

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 Massive Open Online Courses Market Products.

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In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years.

Market insights:

Massive open online courses (MOOC) are gaining popularity in India as they allow learners access to self-paced courses from anywhere and at any time, according to their requirement, over the internet. Major factors driving the growth of the massive open online courses in India include increased internet penetration in the country, easy access to quality education, and industry-relevant courses offered by MOOC. The online education market in India, which includes massive open online course (MOOC) providers, is expected to reach a value of INR 502.85 Bn by the end of 2025, expanding at a compound annual growth rate (CAGR) of ~41.02% during the 2020-2025 period.

Impact of COVID-19:

The coronavirus outbreak has caused complete disruption of the education system in India, affecting students across all ages, ranging from preschoolers to postgraduates. The Indian government has temporarily shut down all educational institutions across the country to contain the spread of the contagion.
With the shift from physical classrooms to online classes, the MOOC market has witnessed a steady growth in the number of free courses offered by the key market players. The pandemic has made the job market immensely volatile. With millions of layoffs and rise in unemployment in the country and worldwide, people have been mentally affected. The unstable job situation in the country has pushed recent graduates and professionals to opt for relevant courses to brush up on their skills or learn new ones. Thus, MOOC players have registered significant growth in the number of subscriptions to relevant online courses amid the lockdown.

Market influencers:

The extensive development of the country’s digital infrastructure has played an instrumental role in advancing the massive open online courses market in the country. Increase in the adoption of the internet and availability of high-speed connectivity, along with easy access to good quality pocket-friendly courses from prestigious educational institutions have further propelled the growth of the market.
However, the absence of digital literacy among the citizens and a lack of technological infrastructure in certain parts of the country, especially in rural areas, stand as significant obstacles for India’s massive open online courses market. Several other factors, such as the lack of awareness regarding online course offerings, preference for classroom teaching, and the challenge of a language barrier significantly hinders the industry’s growth.

Competitive landscape:

The massive open online courses market in India is led by a balanced mix of established players, numerous mid-level, emerging, and small players. These players provide a complete range of services and solutions to their vast customer base present across the country. Companies like Khan Academy, Coursera Inc., Skillshare International, and Udemy India are the key players in the market.

Companies covered:
• Brain4ce Education Solutions Private Limited (Edureka)
• Intellipaat Software Solutions Private Limited
• Jigsaw Academy Education Private Limited
• Sorting Hat Technologies Private Limited (Unacademy)
• Coursera Inc.
• Khan Academy
• Simplilearn Solutions Private Limited
• Skillshare International
• Udacity India Private Limited
• Udemy India

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The Market report answers the following questions:

What is the aim of the report?

  • The market report presents the estimated market size of Massive Open Online Courses Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
  • Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
  • The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
  • The various parameters accelerating the growth of Market are incorporated in the research report.
  • The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

  • Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
  • The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
  • The growth rate of the market in every region, including their countries over the forecast period is included in the market report.

Based on what factors are the key market players assessed in this report?

  • The report offers detailed analysis of leading companies in the market across the globe.
  • It provides details of the major vendors involved in the Market including Key Players
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

  • Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
  • The report offers the present scenario and future growth prospects Market in various geographical regions.
  • The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
  • The SWOT analysis is conducted along with Porter’s Five Force analysis.
  • The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.

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