Online Education/E-Learning Market to Reach Valuation of USD 602 Billion by 2030 – Rising Adoption of Smart Phones and Cellular Technology Drives the Market

In terms of revenue, the Global Online Education/E-Learning Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 17.2% from 2023 to 2030.

Over the past few years, the worldwide Online Education/E-Learning sector has grown astoundingly. It is claimed that a wide range of elements contributed favorably to the expansion of this market. For example, mobile learning apps are being used more and more frequently, there is a growing requirement for stable Internet connectivity, a rising global workforce, gamification is enhancing student engagement, technology is increasing, and AI and cloud-based technologies are being adopted quickly. Furthermore, the increasing demand for remote and flexible learning, rising content digitization, widespread adoption of emerging trends like microlearning and mobile learning, technological advancements in Online Education/E-Learning solutions, rising affordability of these solutions, increasing government spending, and the booming Ed-tech sector are some additional factors that are favorable for the market's growth. Online Education/E-Learning acceptance has also been aided by the creation of numerous cooperative educational communities like the Online Learning Consortium (OLC). These businesses support technological advancements that make learning more enjoyable and exciting for today's students. Additionally, the idea of a virtual classroom has become very popular recently. Students may now participate in lessons in real time thanks to online whiteboards and video conferences, making learning more participatory and collaborative.

Key Highlights from the Report

· Among Product types, the Services segment is anticipated to dominate the Online Education/E-Learning market with the highest market share during the forecast period. This can be attributable to the increasing use of online certifications.

· By End Users, the K-12 segment accounted for the highest CAGR in the forecast period. Growing internet penetration and the proliferation of mobile devices in rural areas are anticipated to support segmental growth.

· Geographically, North America held the largest market share in 2021 and is likely to be the most profitable market in the forecast period due to the staff with a high level of skill combined with well-established infrastructure.

Market Dynamics

Online Education/E-Learning is transforming the educational system by fostering more significant relationships and envisioning a collective academic future, and Online Education/E-Learning is changing the educational system. The internet of things significantly contributes to developing more intelligent and connected schools. Both public and private schools are undergoing educational transformations because of smart classrooms. Schools are advancing technologically and acquiring new resources and methods. Additionally, the Internet of Things has made the transition from teacher-centric to student-centric education easier. Providing benefits like effective management, tangible learning, engaging sessions, and trackable performance is redefining education. Furthermore, IoT and artificial intelligence enable more effective energy use, better home security, and faster data and content streaming. The Online Education/E-Learning market is expanding due to these IoT innovations.

The desire for seamless communication between electronic devices is growing along with the internet and smartphones. Stronger connectivity is driven mainly by evolving cloud infrastructure, and low data prices brought on by high volumes of data since these factors solve many issues with cost, scalability, security, and efficiency. Moreover, the solutions housed on the platforms that improve connectivity develop in quantity and power as the number of linked devices rises. This has created a wide range of new business opportunities, from streaming webinars that increase the accessibility of top-notch educational content from renowned colleges to easing the delivery of urgent medical advice to remote regions worldwide.

The movement of skilled labor from developing to industrialized nations has occurred for several decades. It is one of the significant contributors to the global market for language learning. Language translation, localization, and interpretation services are now necessary due to the necessity for a qualified, specialized workforce. Organizations have shown interest in online language learning platforms due to their agility compared to conventional language learning methods. Additionally, technological improvements have changed how business is conducted and personnel is trained and educated. As a result, the focus of learning experiences in organizations has changed from structured and organization-focused to more individualized and individual-focused.

Additionally, introducing data analytics and AI into learning platforms has opened new horizons for education and growth. Businesses must adopt the latest tools and technology to address the problems of continuous learning. As a result, the need for greater operational and strategic learning and development is growing due to how education is evolving in the age of digitization.

However, the lack of peer-to-peer interaction, inadequate Internet connectivity in rural areas, and many adaption problems have seriously hampered the expansion of the global industry.

Geographically, North America market is likely to see significant market growth with the highest growth rate during the forecast period. A rising understanding of its advantages over conventional offline learning methods, enhanced technological infrastructure, and a wide range of cutting-edge learning and training solutions drive the institutional segment's desire for Online Education/E-Learning. As a result, the requirement for high levels of linguistic proficiency, functional and vocational knowledge, and soft skills is higher in technology-driven businesses.

The Global Online Education/E-Learning Market is Segmented as follows

• Component Types
  • Hardware
  • Software
• Product Types
  • Content
  • Services
• Learning
  • Synchronous
  • Asynchronous
• End-Users
  • K-12
  • Higher Education
  • Industry & Professionals
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Online Education/E-Learning Market is

Lynda.com (US), Tata Interactive Systems (India), Mcgraw-hill Education (US), Blackboard Inc. (US), Aptara Inc. (US), Powerschool Group LLC (US), K12 Inc. (US), Udacity Inc. (US), Cisco Systems Inc. (US), Skills2learn Ltd. (UK), City & Guilds Group (UK), Citrix Education Inc. (US), Centerpoint Systems Inc. (US), Docebo (Canada), Adobe Systems Inc. (US), Articulate Global Inc. (US), Cornerstone on Demand Inc. (US), Learning Pool (UK), Microsoft Corporation (US), SAP SE (Germany), Adobe Systems Inc. (US), Saba Software (US), Oracle Corporation (US), KallidUS Ltd. (UK), Edmodo (US)

The Global Online Education/E-Learning Market Scope can be Tabulated as below