Online Learning Market Size to Grow USD 17.2 Billion by 2029, witnessing a CAGR of 12.5% | Valuates Reports
BANGALORE, India, March 30, 2023 /PRNewswire/ -- The Online Learning Market is Segmented by Type (Primary and Secondary Supplemental Education, Test Preparation, Reskilling and Online Certifications, Higher Education, Language and Casual Learning), by Application (College Students, K12 Students, Job Seeker, Working Professionals): Global Opportunity Analysis and Industry Forecast, 2023-2028. It is published in Valuates Reports under the Distance Learning Category.
The global Online Learning market was valued at 7.5 Billion USD in 2022 and is anticipated to reach 17.2 Billion USD by 2029, witnessing a CAGR of 12.5% during the forecast period 2023-2029.
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Major factors driving the growth of the Online Learning market :
The rise in remote learning during the pandemic and the demand for affordable, practical learning systems have a beneficial impact on the Online Learning market expansion. Moreover, the increased usage of AI and machine learning in online learning systems have boosted the market's expansion internationally.
Throughout the projection period, it is anticipated that the emergence of many trends, including microlearning, gamification, adaptive learning, and mobile learning, would present the lucrative potential for the Online Learning market growth.
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TRENDS INFLUENCING THE GROWTH OF THE ONLINE LEARNING MARKET
With adaptive learning, each student's needs are taken into account while creating resources, projects, and tasks. Instead of the possibly arbitrary decisions of teachers themselves, adaptive learning is typically implemented in the context of eLearning through the use of predefined algorithms and assessments. Until now, adaptive learning has primarily been experimental, with businesses and rivals spending the last two years ironing out the problems and conducting small-scale implementation. The tests will come to an end when eLearning develops and widespread usage will start. There's no reason why adaptive learning services won't continue in the near future; the major eLearning platforms already provide them. This in turn is expected to drive the growth of the Online Learning market.
Social learning adapts the fundamentals of interpersonal communication and group dynamics to the current technological environment. Collaboration has never been more fruitful, effective, and smooth thanks to social learning in the digital sphere, which is enabled via online forums, class chat rooms, and file-sharing platforms. Now, colleagues may provide advice and assistance from any location, including their homes, classrooms, and neighborhood coffee shops. More collaborative solutions will probably enter the market competition as social learning applications continue to advance. This in turn is expected to drive the growth of the Online Learning market.
They claim that there are three different learner types - visual, auditory, and kinesthetic - who do best in education when exposed to movies, singing, and practical demonstrations, respectively. However, this generalization may be a bit overstated. Notwithstanding this duality, auditory learners were the only group that the traditional lecture/note-taking classroom style adequately serviced for a long time. Such is no longer the case with the development of eLearning, as video learning is now a common practice in classrooms all over the world. Video learning has undoubtedly advanced significantly since the days of shared classroom televisions, with anything from video-based lectures to instructional films. There is not a single application today or in the future that video learning cannot enhance. This in turn is expected to drive the growth of the Online Learning market.
Because AI and machine learning enables tailored information based on each student's prior knowledge and offer a one-size-fits-all approach, their adoption has increased across online learning platforms. Also, it makes the process of creating courses much easier, quicker, and more flexible without compromising quality. For instance, the online learning creation process has been improved by the automatic translation and localization capability, which offers more speed and efficiency. Also, it is now feasible to create multi-language content for multinational corporations that must provide relevant material for branches in various countries or for the case where businesses work with remote teams that speak different languages, which is becoming more and more prevalent. So, an increase in these advances is anticipated to bring about profitable opportunities for the Online Learning market.
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ONLINE LEARNING MARKET SHARE ANALYSIS:
The most lucrative market is expected to be North America. In North America, the use of digital educational content is widespread. Businesses are making investments in cutting-edge technology to give the academic sector flexibility. As a result, students can explore a virtual learning environment while learning utilizing the digital mode of education and technical instruments. The region's biggest market for online education is in the US. The growing acceptability of online degrees across the nation is driving the market. Notebooks and desktops are being replaced by smartphones and tablets due to their great demand.
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Key Companies:
- 2U
- Wiley (Knewton)
- Pluralsight
- Pearson
- Allen Interactions
- Udacity
- Udemy
- City & Guilds
- Amazon
- Alibaba
- Baidu
- Tencent
- OpenSesame
- Cegos
- BizLibrary
- D2L
- GP Strategies
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SIMILAR REPORTS:
- Academic e-learning market size was USD 5.67 Billion in 2021, which will grow with a CAGR of 12.4% from 2022-2028.
- K12 Education Learning Management market size is projected to reach USD 3691.6 Million by 2028, from USD 1052.5 Million in 2021, at a Compound Annual Growth Rate (CAGR) of 19.4% during 2022-2028.
- K-12 Education market size is projected to reach USD 3619.8 Million by 2028, from USD 1052.5 Million in 2021, at a CAGR of 19.0% during 2022-2028.
- K12 Tutoring market size is projected to reach USD 3619.8 Million by 2028, from USD 1052.5 Million in 2021, at a CAGR of 19.0% during 2022-2028.
- K-12 International Schools market size is projected to reach USD 13560 Million by 2028, from USD 7608.1 Million in 2021, at a CAGR of 8.5% during 2022-2028.
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- K12 Education Learning Management market size is projected to reach USD 3691.6 Million by 2028, from USD 1052.5 Million in 2021, at a CAGR of 19.4% during 2022-2028.
- K-12 Software market size is projected to reach USD 3619.8 Million by 2028, from USD 1052.5 Million in 2021, at a CAGR of 19.0% during 2022-2028.
- K12 Education Technology market size is projected to reach USD 56490 Million by 2026, from USD 11850 Million in 2019, at a CAGR of 25.0% during 2021-2026.
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- e-learning market revenue is about USD 15,000 Million. The expected CAGR of 2021-2028 is 6.5%.
- Digital Education Market size is expected to grow at the rate of 33.28% CAGR by 2026.
- Self-Paced E-Learning market size is estimated to be worth USD 6830.8 Million in 2021 and is forecast to a readjusted size of USD 6830.8 Million by 2028 with a CAGR of 8.2% during the review period.
- Digital Educational Publishing market size is projected to reach USD 14580 Million by 2028, from USD 8324.5 Million in 2021, at a CAGR of 7.9% during 2022-2028.
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- Back-to-school market size was valued at USD 66.1 Billion in 2020 and is projected to reach USD 131.1 Billion by 2030, registering a CAGR of 4.8% from 2021 to 2030.
- Corporate E-Learning market size was value at USD 22.5 Billion in 2021 and is forecast to reach size of USD 44.6 Billion by 2028 with a CAGR of 10.5% during the forecast period 2022-2028.
- E-Learning VR Market size is projected to reach USD 300.3 Million by 2028, from USD 65 Million in 2021, at a CAGR of 23.8% during 2022-2028.
- Corporate learning management system (LMS) market size is projected to reach USD 9296 Million by 2026, from USD 2136.9 million in 2019, at a CAGR of 22.8% during 2021-2027.
- Due to the COVID-19 pandemic, The global K12 Education Learning Management market size is projected to reach USD 3691.6 Million by 2028, from USD 1052.5 Million in 2021, at a Compound Annual Growth Rate (CAGR) of 19.4% during 2022-2028.
- Learning Analytics market size is projected to reach USD 9611.6 Million by 2027, from USD 2483.7 Million in 2020, at a CAGR of 20.8% during 2021-2027.
- Learning management system market size was valued at USD 1.2 Billion in 2020 and is projected to hit USD 3.6 Billion by 2027, at a CAGR of 20.76% from 2020 to 2027.
- Mobile Learning market size is projected to reach USD 76520 Million by 2028, from USD 20020 Million in 2021, at a CAGR of 20.6% during 2022-2028.
- Social and Emotional Learning (SEL) Market size is projected to reach USD 5919.5 Million by 2028, from USD 1735.3 Million in 2021, at a CAGR of 18.8% during 2022-2028.
- Online Language Learning market size is projected to reach USD 31250 Million by 2027, from USD 9667 Million in 2020, at a CAGR of 18.1% during 2021-2027.
- Game-based Learning market size is projected to reach USD 18120 Million by 2028, from USD 5715.2 Million in 2021, at a CAGR of 17.3% during 2022-2028.
- Digital Badges Market was valued at USD 118.9 million in 2021 which is expected to reach 365.1 million by 2028 at a CAGR of 17.1% from 2022-2028.
- EdTech market size was valued at USD 85 Billion in 2021, it is expected to reach over 230 Billion U.S. dollars by 2028, growing at a CAGR of 15% during 2022-2028.
- Education Technology and Smart Classroom market size is projected to reach USD 239900 Million by 2028, from USD 92870 Million in 2021, at a CAGR of 14.3% during 2022-2028.
- Smart Education and Learning market size is projected to reach USD 730500 Million by 2027, from USD 281680 Million in 2020, at a CAGR of 14.1% during 2021-2027.
- Smart Education market size is projected to reach USD 61.7 Billion by 2027, from USD 24.8 Billion in 2020, at a CAGR of 13.9% during 2021-2027.
- Education Software market size is projected to reach USD 6735.9 Million by 2026, from USD 3244.4 Million in 2019, at a CAGR of 11.0% during 2021-2026.
- Virtual Classroom market size is projected to reach USD 16020 Million by 2027, from USD 8602.8 Million in 2020, at a CAGR of 9.2% during 2021-2027.
- Education ERP market size is projected to reach USD 15470 Million by 2027, from USD 8397.9 Million in 2020, at a CAGR of 9.0% during 2021-2027.
- Private Tutoring market size will be USD 236 Million and it is expected to reach USD 391.5 Million by the end of 2027, with a CAGR of 8.8% during 2021-2027.
- Medical education market size was valued at USD 74.5 Billion in 2020 and is projected to reach USD 122.8 Billion by 2027 at a CAGR 7.60%.
- Interactive whiteboard (IWB) market size was valued at USD 4.29 Billion in 2020, and is projected to reach USD 7.35 Billion by 2030 to register a CAGR of 6.0% from 2021 to 2030.
- School and Campus Security market size is projected to reach USD 2940.3 Million by 2027, from USD 1389.8 Million in 2020, at a CAGR of 11.2% during 2021-2027.
- The global Online K-12 Education market size is projected to reach USD 12930 Million by 2028, from USD 7984 Million in 2021, at a CAGR of 8.3% during 2022-2028.
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- Special Education Software market size is projected to reach USD 3536.4 Million by 2028, from USD 2544.4 Million in 2021, at a CAGR of 4.7% during 2022-2028.
- The global Education Technology and Smart Classroom market size is projected to reach US$ 239900 million by 2028, from US$ 92870 million in 2021, at a CAGR of 14.3% during 2022-2028.
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