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09 Aug, 2022, 04:30 BST
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Rise in the adoption of advanced technologies in digital education, increase in penetration of smartphones and the internet and surge in use of AI and machine learning in digital education drive the growth of the global digital education market.
PORTLAND, Ore., Aug. 9, 2022 /PRNewswire/ — Allied Market Research published a report, titled, "Digital Education Market by Learning Type (Self-paced Online Education, Instructor-led Online Education), by Course Type (Science, Technology, Engineering, and Mathematics (STEM), Business Management, Others), by End-user (Academic Institutions & Individuals, Enterprises): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global digital education industry generated $12.5 billion in 2021, and is estimated to reach $125.3 billion by 2031, witnessing a CAGR of 26% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Drivers and Opportunities
Rise in the adoption of advanced technologies in digital education, increase in penetration of smartphones and the internet, and surge in use of AI and machine learning in digital education drive the growth of the global digital education market. However, factors such as lack of social interactions in digital education and high cost of implementation hamper the market growth. On the other hand, emergence of several trends such as micro learning, gamification, adoptive learning and mobile learning are expected to present lucrative opportunities for growth in the coming years.
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Covid-19 Scenario
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The self-paced online education segment to maintain its dominance during the forecast period
Based on learning type, the self-paced online education segment grabbed more than three-fifths of the global digital education market in 2021, and is expected to rule the roost during the forecast period as self-paced online education can be implemented across different platforms, websites, PCs and mobile apps. However, the instructor-led online education segment is projected to witness the largest CAGR of 27.3% from 2022 to 2031 as it enables real time doubt clarification and two-way interactions.
The STEM segment to maintain its leadership status during the forecast period
Based on course type, the science, technology, engineering, and mathematics (STEM) segment contributed to nearly three-fourths of the global digital education industry in 2021, and is expected to maintain its leadership status during the forecast period. This is due to the upsurge in the number of virtual schools providing STEM courses. However, the business management segment is projected to witness the largest CAGR of 30.1% from 2022 to 2031, owing to the surge in number of jobs in the field of business management.
The academic institutions & individuals segment to maintain its lead position during the forecast period
Based on end user, the academic institutions & individuals segment accounted for nearly three-fourths of the global digital education market in 2021, and is expected to maintain its lead position during the forecast period, owing to the increase in internet penetration and e-learning initiatives. However, the enterprises segment is projected to manifest the fastest CAGR of 28.8% during the forecast period due to the adoption of digital education by workers to keep up with latest technologies and skills.
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North America to maintain its dominance in terms of revenue by 2031
Based on region, North America was the largest market in 2021, accounting for nearly two-fifths of the global digital education market, and is expected to maintain its dominance during the forecast period. This is due to higher adoption of digital education in various colleges and enterprises in the region. However, Asia-Pacific is projected to manifest the fastest CAGR of 29.0% during the forecast period, owing to the growing digital infrastructure and rise in virtual colleges in the region.
Leading Market Players
The report analyzes these key players of the global digital education market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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