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Online Program Management Market US$ 11,986.4 Million By 2027| 2U Inc, Academic Partnerships, Apollidon, Bisk Education Inc, Blackboard Inc, Keypath Education, Noodle Partners
Online Program Management Market 2020
The global online program management market accounted for US$ 3,916.3 million in 2019 and is expected to grow at a CAGR of 15.4% during 2020-2027 to reach US$ 11,986.4 million by 2027.
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For higher education, the institutions that are focusing on developing or expanding their online programs have to make strong decision on whether to leverage a third-party OPM organization or attempt to build and execute in-house. The online learning is capital intensive, and the culture and processes around supporting, attracting, and retaining the adult learners differ from those needed for traditional learners. The institutions face several resource constraints and further venturing into online learning has considerable risk as the development of the program needs upfront investment. The public-private collaborations have the potential for reducing these complexities and enable schools to concentrate on their core operation of teaching and learning. Additionally, the strategic partnerships are made between universities and colleges with OPM support to take steps to launch expanded online support services for stimulating the online education growth. For instance, Texas Woman's University partnered with Keypath Education to provide two online programs focused on Family Nurse Practitioners (FNP). Such courses will help in developing advanced skills of primary care providers. Online program managers (OPMs), who are driving an increasing number of programs, are responding to universities' and colleges' desire for more flexibility and control in running the courses. OPM providers also increasing various services, while individual OPMs are enhancing specialties.
The rising adoption of technologies in the education industry is increasing the adoption of online learning programs. The adoption of online programs and courses by colleges and universities is driving the top online program management companies in North America. Online master's and bachelor's degrees are becoming popular among students in colleges and universities as several large institutions are moving toward online degree programs based on high-quality technical assistance in the learning experience. Enrolment for online programs is snowballing in universities as the demand for online program management is growing.
The presence of fast-growing countries, rising technology adoption, increasing number of mobile devices, and presence of renowned universities are among the major factors that are expected to drive the growth of online program management in APAC. Other developing regions such as MEA and SAM are also projected to grow at a steady pace owing to increasing government initiatives to digitalize the economy with the adoption of advanced technologies for online learning courses.
The market for online program management is segmented into business model, education level, and geography. Based on business model, the online program management market is further segmented into revenue share, hybrid, and fee for service. Based on education level, the online program management market is further segmented into under graduate, post graduate, professional certifications, and others. Geographically, the online program management market is fragmented into five regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The well-established market players operating in the online program management market include 2U, Inc.; Academic Partnerships; Apollidon; Bisk Education, Inc.; Blackboard Inc.; Keypath Education; Noodle Partners; Online Education Services (OES); Pearson Education; and Wiley Education Services.
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The overall global online program management market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global online program management market. It also provides an overview and forecast for the online program management market based on all the segmentation provided for the global regions. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in online program management.
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