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Kenneth Research published a report on Massive Open Online Courses Market which gives detailed analysis of the present market landscape. The report which is evaluated for the forecast period, i.e., 2022-2031, provides an in-depth analysis of the market, based on size, volume, latest trends, opportunities and challenges associated.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Massive Open Online Courses Market Products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Massive open online courses (MOOC) are gaining popularity in India as they allow learners access to self-paced courses from anywhere and at any time, according to their requirement, over the internet. Major factors driving the growth of the massive open online courses in India include increased internet penetration in the country, easy access to quality education, and industry-relevant courses offered by MOOC. The online education market in India, which includes massive open online course (MOOC) providers, is expected to reach a value of INR 502.85 Bn by the end of 2025, expanding at a compound annual growth rate (CAGR) of ~41.02% during the 2020-2025 period.
Impact of COVID-19:
The coronavirus outbreak has caused complete disruption of the education system in India, affecting students across all ages, ranging from preschoolers to postgraduates. The Indian government has temporarily shut down all educational institutions across the country to contain the spread of the contagion.
With the shift from physical classrooms to online classes, the MOOC market has witnessed a steady growth in the number of free courses offered by the key market players. The pandemic has made the job market immensely volatile. With millions of layoffs and rise in unemployment in the country and worldwide, people have been mentally affected. The unstable job situation in the country has pushed recent graduates and professionals to opt for relevant courses to brush up on their skills or learn new ones. Thus, MOOC players have registered significant growth in the number of subscriptions to relevant online courses amid the lockdown.
Market influencers:
The extensive development of the country’s digital infrastructure has played an instrumental role in advancing the massive open online courses market in the country. Increase in the adoption of the internet and availability of high-speed connectivity, along with easy access to good quality pocket-friendly courses from prestigious educational institutions have further propelled the growth of the market.
However, the absence of digital literacy among the citizens and a lack of technological infrastructure in certain parts of the country, especially in rural areas, stand as significant obstacles for India’s massive open online courses market. Several other factors, such as the lack of awareness regarding online course offerings, preference for classroom teaching, and the challenge of a language barrier significantly hinders the industry’s growth.
Competitive landscape:
The massive open online courses market in India is led by a balanced mix of established players, numerous mid-level, emerging, and small players. These players provide a complete range of services and solutions to their vast customer base present across the country. Companies like Khan Academy, Coursera Inc., Skillshare International, and Udemy India are the key players in the market.
Companies covered:
• Brain4ce Education Solutions Private Limited (Edureka)
• Intellipaat Software Solutions Private Limited
• Jigsaw Academy Education Private Limited
• Sorting Hat Technologies Private Limited (Unacademy)
• Coursera Inc.
• Khan Academy
• Simplilearn Solutions Private Limited
• Skillshare International
• Udacity India Private Limited
• Udemy India
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The Market report answers the following questions:
What is the aim of the report?
What aspects regarding the regional analysis Market are included in this report?
Based on what factors are the key market players assessed in this report?
What is the key information extracted from the report?
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