Digital Education Market Expected to Grow $33.2 billion by 2025
Major factors expected to drive the growth of the digital education market include increased internet penetration around the world, reduced infrastructure cost and increased scalability using online learning, and growing demand for microlearning. Technological advancements such as virtual classrooms represent significant opportunity in near future for the companies that are currently offering online learning services.
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Based on end user, the individual learners and academic institutions segment to hold a higher market share during the forecast period
This segment includes self-motivated individual applicants for the online courses and educational institutes and universities that are availing the online education services for their students. As there are many individuals scattered over the globe that want to learn different subjects, the demand for online courses from the individual learners is very high. Flexibility of time and place and comparatively low cost are two key attraction points for the individual learners that attract them toward the online courses. Universities can greatly improve their effectiveness of their courses by availing online education to their students. Though large number of universities and educational institutions still run the traditional educational models, many of them are adopting to this change.
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Based on course type, the science and technology courses segment to grow at the highest growth rate during the forecast period
Science and technology courses include computer science, health and medicine, engineering, chemistry, and physics. Computer science and programming deals with the experimentation and engineering of computational systems comprising algorithms. The increasing adoption of IoT in various enterprises demand skilled workforce to handle the data through a variety of tools, techniques, and computer languages. Companies have started relying on digital education platforms to upskill their workforce; hence, computer science and programming courses have witnessed increased adoption in the past couple of years. The introduction of technology-efficient courses, such as interactive programming in Python, Analytics Edge, and Artificial Intelligence (AI), have supplemented the market growth for various digital education vendors, including Coursera, Udacity, FutureLearn, edX, and Kadenze.
Based on region, North America to hold the largest market size duringthe forecast period
North America is the major and fastest adopter of digital education platforms. The major growth drivers for this region are the collaboration between the government and network arenas and the institutional partnerships between digital education vendors and research specialists. In addition, the need to enhance the skillsets of the employees and the technicalities among students in the region are enforcing the universities and educational organizations to deploy digital education platforms and services. The US and Canada are expected to have the highest adoption rates of digital education platforms and services. The region is expected to grow and adopt new technologies at the fastest pace when compared to the rest of the world and dominate the overall digital education ecosystem. The major growth drivers for this region include the large-scale investments in outsourced digital education services by universities in North America.
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Key and emerging market players in the US include Coursera (US), edX (US), Pluralsight (US), Edureka (India), Alison (Ireland), Udacity (US), Udemy (US), Miríadax (Spain), Jigsaw Academy (India), iversity (Germany), Intellipaat (India), Edmodo (US), FutureLearn (UK), LinkedIn (US), NovoEd (US), XuetangX (China), Federica EU (Italy), Linkstreet Learning (India), Khan Academy (US), and Kadenze (Spain). These players have adopted various strategies to grow in the digital education market.
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