North America to Vanguard Sales in MOOC Market; Asia Pacific to be the Ed-Tech Hotspot for MOOC Providers
The massive open online course (MOOC) market analysis offered by Fact.MR scrutinizes key growth factors that are impacting sales in the market. The report provides in-depth insights covering key factors such as drivers, opportunities, key players’ strategies, and demand outlook. In addition to this, the study analyzes latest trends across various segments such as customer category, primary objective, program, course, model, across regions.
NEW YORK, Aug. 17, 2022 /PRNewswire/ — The global massive open online course (MOOC) market is valued at US$ 7.55 Billion in 2022, and is expected to reach US$ 152 Billion by 2032. Increasing digitization, high penetration of smartphones, easy access to high-speed internet, and availability of MOOC courses at affordable prices are the key factors driving the market.
Regionally, North America is likely to vanguard sales in the MOOC market, with the U.S. accounting for leading share. In addition to North America, countries in Asia Pacific such as China and India are likely to emerge as key hubs for MOOC during the assessment period (2022-2032).
The shift toward digital learning has accelerated growth of global massive open online course market. Students across the globe have now become comfortable with online mode of learning which has helped in reducing their reluctance.
Further, MOOC providers have also worked on their user interface (UI) to help students in easily accessing and understanding the course material. These factors have led to positive perception among students, and are likely to contribute toward growth of massive open online course (MOOC) market during the assessment period.
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As per Fact.MR’s analysis, concerns related to extended screen time, and ongoing debate on classroom learning vs online learning is a key challenge for massive open online course market. As per a study by Brookings Institution, performance of students taking online classes is not as par with those taking in-person classes. Although massive open online course market players are focusing on addressing these concerns, these factors can affect market growth in short-term.
Key Takeaways:
The U.S. is likely to be the largest market for MOOC during the forecast period due to awareness among students about benefits of MOOC
Asia Pacific is expected to be a lucrative market for MOOC providers, accounting for nearly 40% of share in 2022
By customer type, corporates are leading the bandwagon, accounting for nearly 40% market share in 2022
By course, education & teaching segment is most lucrative, accounting for nearly 45% market share in 2022
Growth Drivers:
Growing digitization and rising smartphone penetration is creating sizeable opportunities for MOOC market players
Wide range of courses offered by MOOC players is encouraging both students and corporates to upskill, thereby boosting the market
Increasing demand for easy access to affordable education is likely to drive market growth during the assessment period
Availability of better user interface and teaching material is boosting confidence of students, thereby creating a positive perception among them
Restraints:
Concerns about the performance of students who study online as compared to those who study in-person is anticipated to remain a key challenge for MOOC players
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Competitive Landscape:
The massive open online course market is fairly consolidated, as many new companies have entered the market in the recent past. MOOC providers are focusing on mergers & acquisitions, along with expanding into lucrative markets to boost growth.
For instance,
In June 2022, Indian developer educator Scaler announced to expand in the U.S. The company is aiming to provide education that is more advanced than traditional college curriculum
In November 2021, 2U completed the purchase of edX to expand its reach. 2U also announced it will offer 10 new courses in essential skills for the digital age.
Key Companies Profiled by Fact.MR
edX Inc
Coursera Inc
Alison
Federica.EU Udemy
Pluralsight
Instructure
Udacity
Miriada X
Jigsaw Academy
LinkedIn Learning
Kadenze
iverity
NovoEd
FutureLearn
Simplilearn
Skillshare
Intellipaat
Federica.EU
Xuetangx
Wiziq
More Valuable Insights on Massive open online course Market
In the latest study, Fact.MR offers a detailed study on global massive open online course market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of massive open online course with analysis across below segments:
By Customer Category:
Individual MOOCs
Enterprise / Corporate MOOCs
MOOCs for Small Enterprise
MOOCs for Medium Sized Enterprise
MOOCs for Large Enterprise
MOOCs for Educational Institutes
By Primary Objective:
MOOCs for Reskilling and Online Certification
MOOCs for Language and Casual Learning
MOOCs for Supplemental Education
MOOCs for Higher Education
MOOCs for Test Preparation
By Program
Certificate & Professional Program MOOCs
Degree & Master Programs MOOCs
Other MOOC Programs
By Course:
Business & Management MOOCs
Data Science / Programming / Computer Science MOOCs
Science (Pure) MOOCs
Social Science MOOCs
Humanities MOOCs
Educational & Teaching MOOCs
Engineering MOOCs
Health & Medicine MOOCs
Mathematics MOOCs
Art & Design MOOCs
Other MOOCs (Law, Language Etc.)
By Model:
xMOOC
cMOOC
By Region:
North America
Latin America
Europe
Asia Pacific
Middle East and Africa (MEA)
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Key Questions Covered in the Massive Open Online Course (MOOC) Market:
What is the projected value of the massive open online course market in 2022?
At what rate will the global massive open online course market grow until 2032?
Which are the factors hampering the growth in the massive open online course market? Which region is expected to lead in the global massive open online course market during 2022-2032?
Which are the factors driving the massive open online course market during the forecast period?
What is the expected market value of the massive open online course market during the forecast period?
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