GLOBAL ONLINE EDUCATION MARKET
Ever since the breakout in the field of internet online leaning sector has grown enormously with various platforms being emerged out of this.
Since the COVID-19 breakout the online leaning has evidently shown significant growth owing to shutdown of educational institutions worldwide. However, factors such as poor penetration of internet in developing Asian and African countries, insufficient bandwidth and no training for students restraining the growth.
By Type of Coaching
- Formal Education
- Informal Education
By Mode of Learning
- By Videos
- By Online Live Coaching
- School Academics
- Language Courses
- Arts and Sciences
Top tier universities are democratizing the learning by making the courses accessible via online. The e-learning requires 40-60% less time to learn than the traditional learning. Re-reading, learning at own pace and skipping are few factors that help to boost the market in times to come.
The current COVID-19 situation has resulted in shutting of schools in over 186 countries and has affected over 1.2 billion children across the world.
In South Korea close to 225,000 pupils were found to be not having the tech to undergo the online training from the schools and colleges.
BY TYPE OF COACHING
The informal type of coaching where the courses taken by the students through various online platforms has witnessed to be holding higher market share compared to the formal education system. The rise in more and more online platforms providing with short term courses has affected significantly to this segment.
The lockdown period across the world has prompted the public to take up new courses online to keep them engaged has proven to be beneficial.
The formal teaching in a sense the academic coaching through online mode is usually hit by setbacks such as poor reach out to every student of particular classroom. The rise of platforms such as Scholar LMS and Liveboard in US, TutorRoom and Koolearn in China and Bjyu’s and Vedantu in India has helped the market grow. The current situation has propelled the growth in enormous rate. The need to continue the academics through this period will boost the market.
BY MODE OF LEARNING
The videos coaching is the leading mode of learning, the option to access anytime and anywhere makes it the go to option. The leading universities and colleges have introduced the online video coaching on their portals and this has had a positive impact on the video learning mode. The affordable prices of the video coaching courses have led to its growth.
The live coaching is the preferred option for the academic coaching. The dependency on a third party online videotelephony service provider makes the live coaching not feasible option. However, the shutdown of schools and colleges has led to the inclination towards the live coaching.
US ONLINE EDUCATION MARKET
In US about 25% of students are not privileged to afford the computer and this is a significant factor which affects the online academic learning. But the rise of online course providing platforms has kept the market moving in the region.
The below chart shows the most pursued programs in the country:
EUROPE ONLINE EDUCATION MARKET
The online learning penetration is highest in the Europe region as in the countries such as Switzerland, Norway and Austria 95% of the students had access to the computer in their homes and the implementation in such regions is relatively easy. The UK e-learning sector is found to be the fastest growing in Europe. Over 1000 companies are providing the products and services.
CHINA ONLINE EDUCATION MARKET
In China the ministry of education is trying to upgrade the education infrastructure by developing a new cloud based online learning platform. Chinese government in February instructed quarter of a billion students to resume the studies online. This has led to largest online movement towards online learning.
INDIA ONLINE EDUCATION MARKET
India’s move to allow universities to offer full online degrees is attracting the various online platforms to approach the universities to provide these courses. This invites various US based online platforms to India and helping them to expand the global presence.
In India Byju’s the leader in the market has witnessed a 200% increase in number of students using the product.
MARKET SIZE AND FORECAST
The market of online learning is expected to continue to growth during the current situation and would well likely continue till the end of the year. Although the live coaching will see a dip once the schools are open, the e-learning through videos will continue to propel. The affiliation of online degrees in many more countries will boost the online learning sector.
LATEST TREND IN THE MARKET
- Upon the restart of normal life in China the primary and secondary school students started classes in Wuhan region. Out of 900,000, about 81% students have opted for “Tencent” online classroom.
- Chinese online learning platform Yuanfudao backed by Tencent Holdings is close to completing a fund raiser of 7.5 billion USD.
- Cambridge University in UK has moved to a full academic year of 2020-21 to online learning.
- In Greece government with the help of Hellenic Broadcasting Corporation is using state TV to promote homeschooling amidst lockdown.
- Government of India has allowed top 100 universities in India to start the online degree courses from May 30th.
Byju’s from India is world’s highest valued edtech company. Vedantu another Indian based platform is focussed on formal teaching. The various other online platforms with more than 1500-2000 courses available are Edx, Cousera, Futurelearn, Udemy and Skillshare.
|2||Scope of the report|
|7||Insights from Industry stakeholders|
|8||Cost breakdown of Product by sub-components and average profit margin|
|9||Disruptive innovation in the Industry|
|10||Technology trends in the Industry|
|11||Consumer trends in the industry|
|12||Recent Production Milestones|
|13||Component Manufacturing in US, EU and China|
|14||COVID-19 impact on overall market|
|15||COVID-19 impact on Production of components|
|16||COVID-19 impact on Point of sale|
|17||Market Segmentation, Dynamics and Forecast by Geography, 2020-2025|
|18||Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025|
|19||Market Segmentation, Dynamics and Forecast by Application, 2020-2025|
|20||Market Segmentation, Dynamics and Forecast by End use, 2020-2025|
|21||Product installation rate by OEM, 2020|
|22||Incline/Decline in Average B-2-B selling price in past 5 years|
|23||Competition from substitute products|
|24||Gross margin and average profitability of suppliers|
|25||New product development in past 12 months|
|26||M&A in past 12 months|
|27||Growth strategy of leading players|
|28||Market share of vendors, 2020|
|30||Unmet needs and opportunity for new suppliers|